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Reuters: Quality issues threaten India iron ore sales to China

Reuters reports that world number three supplier India's iron ore exports and prices could be hit by quality issues raised by China on $2.2bn worth of shipments. India sends almost all its exports to China, trade worth around $1.5bn per month. During the first four months of 2011, over a third of India's exports to the Chinese province of Jiangsu were substandard, China's General Administration of Quality, Supervision, Inspection and Quarantine said in a notice posted on its website.

Lakeside Steel completes $23m bought deal offfering

Lakeside Steel announced that it has completed its bought deal short-form prospectus offering of 44,275,000 common shares at a price of $0.52 per Common Share for total gross proceeds of $23,023,000. The Offering includes the exercise of the underwriters' over-allotment option in full.

Iron ore bonus to go east: Swan

Wayne Swan has threatened to blow a $2 billion hole in the Barnett Government's plan to lift royalty rates on iron ore miners, with every cent raised by the move likely to end up with other States and Territories.The Commonwealth Grants Commission has

With premium iron-ore pellets, Northland doubles mine NPV

Northland Resources (TSX: NAU) sees about twice as much cash flowing into its coffers once Kaunisvaara, its flagship iron-ore project in Sweden, reaches production in 2013. The projected boost in part stems from reconsideration of the price Northland's iron-ore pellets might command. "Northland has long been convinced that the market will highly value the high Fe-content (69%) and low levels of impurities (e.g. 1.1% SiO2 and 0.2% Al2O3) in its concentrate," the iron-ore junior noted in a press release.

Afferro Mining: metallurgical testwork indicates potential for sinter fines product

Preliminary metallurgical test work was conducted on a composite sample of the haematitic saprolite ore from the Nkout Centre area of the deposit. The sample consisted of drill hole intersections from the central part of the deposit and had a head grade of 43.6% Fe. The aim of the test work was to determine the potential to produce a suitable blast furnace feed. The test work was conducted at SGS Mineral Services, Truro, UK.

Iron Ore Holdings: Positive Concept Study for Bungaroo South Project

A Mine Concept Study conducted by Steffen Robertson Kirsten (SRK) on the Bungaroo South project has confirmed both the technical and financial viability of a mine development. The mine plan supports a 15 million tonnes per year operation with a mine life of 15 years, with production possible by 2015.

BC Iron Ore ends corporate merry-go-round

The game of corporate musical chairs has ended with more frustrations than success for the two companies concerned, after BC Iron Ltd (ASX: BCI) got annoyed about Regent Pacific withdrawing its original bid, BC Iron then successfully got the bid reinstated through Australia's Takeovers Panel, and then deciding it didn't want to proceed. The end of this chain was the expert's report to BC Iron that, in summary, said Regent Pacific's bid was neither fair nor reasonable.