Globex Mining Enterprises Inc. announce Monday that it has signed an Option Agreement with Titan Iron Ore Corp wherein Titan may earn 100% interest in a Globex, Labrador trough area iron exploration property in Northern Quebec. The property consists of 200 claims totalling approximately 9,160 ha (22,635 acres) and covers a 32 kilometre (19.9 miles) long magnetic anomaly which coincides with known showings of magnetite, an ore of iron.
Iron Ore Mining News
Beijing has issued a veiled threat to Australia's long-term economic future. It has vowed to break the power of the big mining companies by sourcing 50 per cent of its iron ore imports from Chinese-invested companies.
The value of mergers and acquisitions in the mining sector more than doubled to $96.3 billion in the first six months of the year and could top $200 billion for the whole of 2011 says a new research report. Canadian companies – both as acquirers and as the targets of buyers – dominated corporate finance activity in the first half shaking on more than a deal a day and at 325 deals accounting for almost two-thirds of all the metals and minerals transactions carried out around the world.
Indian Express reports Karnataka Chief Minister B S Yeddyurappa, currently holidaying in Mauritius, is among a slew of politicians, many of them from the BJP party, set to be named in a damning 8,000-page report on the illegal plunder of the Indian state’s iron ore resources over a decade. The report from the Lokayukta, an anti-corruption ombudsman organization, may lead to so called President's rule in Karnataka when a state legislature is dissolved or suspended and the state is placed under direct federal governance and is proving to be a huge embarrassment to the BJP leadership.
A top official from the China Iron Ore & Steel Association says China will only be able to break the grip of the three major iron ore miners, if it gets half of its iron ore imports from Chinese-vested operations.
Synalloy Corporation, a producer of stainless steel pipe, fabricator of stainless and carbon steel piping systems, and producer of specialty chemicals, announces that the second quarter of 2011 produced 59% higher net earnings of USD 1,709,000 on a 14%
TEX reported that while the central government of China already decided to impose 20% of duty on export of electrolytic manganese metal from China and has been enforcing this imposition of the export duty from January 2008, the electrolytic manganese
BHP Billiton will continue to source workers through external agencies despite a recent legal stoush over a rogue employment scam. The mining giant was forced to take legal action through an arm of the United Nations earlier this year to combat a scam
Chinese steel production and iron ore demand are set to come under pressure from government-mandated electricity allocation restrictions in coming months, according to New York City-based consultancy Commodore Research.
In the latest episode of a decade-long saga over third-party access rights to Pilbara iron ore infrastructure, Australia’s Federal Court has endorsed the decision of the Australian Competition Tribunal not to ‘declare’ Rio Tinto’s Hamersley rail line.
Reuters reported that Goldman Sachs has started to trade iron ore swaps earlier this year and is preparing to enter the physical iron ore market. Growing liquidity levels in the iron ore swaps market attracted many banks to invest in it and some have also decided to set up physical iron ore desks to strengthen their positions.
Yesterday, China's National Development and Reform Commission released metallurgy industry's operation situation in the first half of this year. In the January-June period of current, iron ore imports reached 334.25 million mt, an increase of 8.1%;
The final report of the Karnataka Lokayukta is likely to disclose names of the high and mighty behind the iron ore theft at Belekeri and Karwar ports in 2010.
Rio Tinto is accelerating its iron ore expansion programme in the Pilbara region of Western Australia with US$676m of funding for early works and procurement.
Chinese state-owned company Dafeng Port Group plans to set up a ferronickel industry in Kotabaru, South Kalimantan with a production capacity of 200 million metric tons a year. The president director of Dafeng Port Group Co. Ltd., Ni Xiangrong, said here on Saturday the Dafeng Port Group Co.Ltd. has successfully developed an integrated economic zone in China and plan to build a ferronickel industry and its support industries in Kotabaru.
BHP Billiton is good for the Australian pscyhe. Source: The Australian IN THE "good old days" a billion dollars used to be really worth, well, a billion dollars - these days it seems you are only talking real money when you talk trillions. Back in those
David Knox, Santos chief executive, says the expected skills shortage has not yet affected his company. Picture: Calum Robertson Source: News Limited SANTOS chief executive David Knox, whose company is building one of the three $15 billion-plus coal-seam
According to data released by the National Statistical Committee of the Republic of Belarus, in the first half of the current year Belarus increased metallurgical production by 15.2%YoY. In particular, crude steel production increased by 5.4% to 1.395
According to the data for the first five months of the current year from the Federal Customs Service, Russia ferrous product exports decreased by 16%YoY to 13.950 million tonnes worth a total of USD 8.538 billion.
Work is expected to begin in September on a pilot plant that will convert stockpiled magnetite fines into metallic iron at Palabora Mining from the end of June next year. Martin Creamer of Mining Weekly talks to Iron Mineral Beneficiation Services (IMBS) CEO John Beachy.
Employees of POSCO walk near a sculpture with POSCO's logo at the company's headquarters in Seoul July 22, 2011. POSCO, the world's No. 3 steelmaker, met market expectations with a 17 percent fall in quarterly operating profit on Friday, hurt by firm raw
Swedish steelmaker SSAB (SSABa.ST: Quote) beat second-quarter earnings forecasts, helped by demand for its specialist products in the United States and Europe, and said the recovery had further to run.
According to the World Steel Association (WSA), production of steel in China during the January-June period of the current year stood at 350.543 MT, almost half of world output during the same period and the single highesat by any country.
Canadian Orebodies Inc. (TSX VENTURE:CO) ("Orebodies") has started drilling on its Haig Inlet Iron Ore Project, located on the Belcher Islands, Nunavut, Canada.
Two reports out on Thursday suggest that iron ore is far from being merely a relic of the industrial revolution and still plays a central role in the world economy and the commodities markets. Reuters reports top investment bank Goldman Sachs is preparing to enter the physical iron ore market and the FT says the so-called commodities bible – Cyclope’s World Commodity Yearbook – just published in English is a testament to how the pricing of iron ore from secretive negotiations and annual contracts to prices linked to the spot market constitutes a “true revolution”.