Iron Ore Top Stories

About $50bn in mining investment expected in Guinea by 2025

But some of the nation's resources that are considered among…

Glencore’s Dominican mine saved by the President

President Danilo Medina vetoed bill creating a National Park, which…

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Australian government moving closer to mining profits tax legislation

Australia moved closer to introducing a contentious 30 percent mining tax being eyed by other countries, releasing draft laws and seeking reaction from resource companies to legislation expected to be passed later this year. The government unveiled the mining tax over a year ago but modified its plan before last August' s elections after global miners including BHP Billiton , Rio Tinto , and Xstrata launched a public campaign against it. Big miners and minority lawmakers are now broadly supportive and the legislation is expected to pass parliament and take effect on July 1, 2012.

Metso to supply crushing equipment to Fortescue Metals iron ore operations in Australia

Metso will supply crushing equipment to Fortescue Metals Group in Australia. The delivery will be completed by May 2012. The value of the order is approximately EUR34 million. The order comprises 13 units of MP1000 secondary cone crushers. Three units will be delivered to Fortescue’s Christmas Creek iron ore site, and another ten units will go to the Solomon iron ore mine site. Both sites are located in the Pilbara region in Western Australia. The crushers will be supplied to the sites in pre-assembled, modularised form. Metso will also be providing installation and commissioning assistance of all units.

AFP: Quebec seeks to lure EU investors to far north

Quebec Premier Jean Charest will travel to Europe this month to tout Plan Nord, the Canadian province's C$80-billion plan to boost mining and forestry, AFP reported Friday: The Quebec government unveiled the 25-year plan to develop "one of the last untouched territories of the world, filled with riches" in May. Charest is to meet with politicians and business leaders in London, Brussels, Frankfurt and Munich from June 27 to July 1.

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Northland and Kiruna Wagon to design a prototype for new railcars

Northland is a development-stage mining company with a portfolio of iron ore projects in northern Sweden and Finland. The Company's Kaunisvaara Project will exploit magnetite iron ore deposits, feeding a single, multi-line processing facility in Sweden. The process yields a very high-grade, high-quality magnetite iron concentrate. The Company is also preparing a Definitive Feasibility Study for the Hannukainen Iron Oxide Copper Gold Project in Kolari, northern Finland.

Big Australian search for major new iron ore deposits

Australian prospectors are scouring remote outback locations for new sources of iron ore to rival the big western lodes dominated by Rio Tinto and BHP Billiton , spurred on by China's swelling appetite. Analysts expect most of Australia's iron ore to keep coming from Western Australia's Pilbara region, the world's single largest deposit, which is seen producing about 400 million tonnes this year.

Top 40 mining companies’ 2010 financial results ‘spectacular’-PwC

The top 40 global mining companies are poised to break through the US$1 trillion asset mark this year, due to record levels of cash, property and equipment on balance sheets, says a new PwC report. In their report Mine 2011: The game has changed, PwC called the financial results of the top 40 "spectacular" as total revenues increased 32% to US$435 billion, breaking the $400 billion mark for the first time.

CP: Wesgold Minerals gets option to buy majority stake in Colombian mining property

Wesgold Minerals has struck an option agreement with a polymetallic property in Colombia. According to Canadian Press, Wesgold has acquired an option to buy up to 51 percent of a property that hosts iron-oxide-copper-gold deposits: The Vancouver-based junior miner says it bought the option for an initial 11 per cent interest in the property, known as the Cordoba Property, from Minatura International LLC for a total cash cost of $4 million. The property consists of a mining concession contract and several mining claims covering 25,790 hectares, about 200 kilometres north of Medellin.