August 24, 2011

Record profit means BHP still has $60 billion left for expansion after Petrohawk deal

BHP Billiton reported record annual results and beat analyst estimates in the process, after prices of copper, iron ore and coal reached all-time highs because of demand from China. Profit…

August 24, 2011

Steel companies in Bellary, India begin layoffs; over 30,000 jobless

The economic consequences of the Supreme Court ban on mining in Bellary are beginning to be felt in thousands of homes in Karnataka as their primary bread winner is facing…

August 23, 2011

IOC looking to double production capacity as iron ore prices surge

Canada's largest iron ore producer is looking to expand its operations in Newfoundland/Labrador. IOC announced last week that it has launched a study to evaluate options that would increase production…

August 23, 2011

Derivatives traders dive into iron ore market as prices triple

New York brokerage GFI's announcement on Tuesday that it now offers on-screen iron ore swap trading is the latest indication that the economics of the world's foremost dry bulk commodity…

August 23, 2011

IRC posts first profit as iron ore sales begin at Russia mine

IRC Ltd, a Hong Kong-listed iron ore company mining in Russia, posted its first profit after starting sales from its Kuranakh mine and prices for the steelmaking raw material advanced.…

August 23, 2011

BHP throws BlueScope workers a lifeline

BlueScope Steel has been slammed after paying execs millions of dollars in bonuses as it lays off workers. Australia's biggest company is keen to hire workers sacked by BlueScope Steel.

August 23, 2011

Push for Gulf iron ore mine gathers momentum

Western Desert Resources has taken another step toward developing an iron ore mine in the Gulf country of Australia's Northern Territory.The company is proposing an open-cut iron ore operation in…

August 23, 2011

African Minerals increases capacity of Tonkolili iron ore project

London-listed Africa-focused mining giant African Minerals Ltd has announced that the operating capacity of Tonkolili iron ore mine in Sierra Leone has increased from 12 million mt per year to…

August 23, 2011

Taiwanese stainless steel imports up by 13% in July

Taiwan has imported 79,396 tonnes of stainless steel in July 2011, up by 6% MoM from June 2011. Also, the average import prices of stainless steel increased by TWD 1,524…

August 23, 2011

Chinese stainless steel capacity to reach 20 million tonnes by 2015

Data from research firm Beiging Antaike Information Development Co showed that there are two stainless steel projects will soon bring another 5 million tonnes of crude stainless steel over the…