It’s high quality and the price is a bargain, but the risk may be too great for Chinese buyers looking for a quick profit.
Korea Mining News
A consortium of companies including Korean steel juggernaut POSCO has made a bid for Arrium, a major Australian iron ore miner and steelmaker.
While Apple's costs $17,000, Samsung's is expected to go for about $520.
North Korea was the only country to boost coal shipments to China this year as Vietnamese supply slumped.
China and South Korea are keen to buy coal from the Adani Group's $16 billion Carmichael coal mine project in Australia's Galilee basin.
Korean scientists create a cheap, flexible steel with a strength to weight ratio of today's best titanium alloys using a nickel catalyst.
Red metal output at the mine, over 18 months behind schedule and $750 million over budget, is expected to ramp-up by July.
The central bank now holds 104.4 tonnes.
Aussie iron ore miner and steelmaker Arrium (ASX:ARI) has stated publicly that it spurned a $1 billion takeover bid from a Korean consortium due to expectations of a rebound in iron ore prices.
Australia faces the parlous challenge of juggling trade relations with the three key East Asian economies, all of whom covet free trade agreements with the antipodean continent in order to shore up their access to resources.
Australian steelmaker and iron miner Arrium (ASX:ARI) has seen its shares surge after rejecting a $1 billion takeover bid for the company's mines and blast furnace.
In regard to its Korean-based mining project, the Woulfe press release states, " there is no extra 60 days in the deal with our strategic partner and it is on track, moving forward under the terms outlined in the agreement announced on February 28th, 2012."
The total value of the copper, silver, indium and manganese reserves discovered by South Korean company Kores in Bolivia last year, may be worth more than $8 billion.
A South Korean conglomerate has cited global economic uncertain as a key reason for pulling out of a US$324 million deal with Australia-based Cockatoo Coal.
"Shenhua is the most competitive bidder for the project given its technology, transport infrastructure, access to the Chinese market and the backing of the Chinese government," Shenhua CEO Ling Wen told reporters.
aja Mining Corp. (TSX:BAJ)(OTCQX:BAJFF) today announced that it has filed and is mailing a third and final letter to shareholders regarding the proxy contest initiated by dissident Mount Kellett Master Fund II A L.P. Baja has scheduled a vote to take place at a special meeting of shareholders on April 3, 2012 and urges shareholders to vote the GOLD proxy against Mount Kellett.
The Tata Group, India's largest conglomerate, is said to be investigating a joint venture with South African coal producer Increase Coal.
East Africa Resources Limited has executed an Agreement with Korea Resources Corporation for KORES to invest in EAF's Mkuju South uranium project in Tanzania.
Powerful Korean conglomerate Samsung Group is said to be considering a $2.2 billion investment in an Australian nickel and cobalt mine, The Australian is reporting.
Woulfe Mining Corp. (TSX VENTURE:WOF)(OTCQX:WFEMF) in conjunction with Contromation Indonesia and Wardrop Engineers is proud to announce that the first design package for the ore crushing and grinding system for the Sangdong tungsten and molybdenum Project has been completed and is ready for initial quotation. The design package has been issued to reputable heavy engineering companies in South Korea for quotation.
Construction equipment supplier High Power Equipment (HPE) Africa reports that it now offers a full range of Korean-built Soosan hydraulic hammer and drill attachments for earthmoving equipment that can help save contractors time and money. […]