August 21, 2011

Iron ore price rise eclipses gold as China construction continues unabated

Australia's Fortescue Metals, barely four year after starting commercial mining, said on Friday its year-on-year net profit surged 76% to just over $1 billion driven by resilient demand from China.…

August 20, 2011

SAIL plans to raise $87 million through bond sale

Dow Jones reported that state run Steel Authority of India has raised INR 4 billion (USD 87.5 million) through a bond sale, three people familiar with the matter said. The…

August 20, 2011

Essar Steel Orissa charged with green violation

Economic Times reports that Wildlife Society of Orissa has accused the Orissa government of not asking Essar Steel Orissa Ltd to stop dredging sand from the bed of River Mahanadi…

August 19, 2011

Labrador Iron Mines loses $4.7-million in Q1 2012

Labrador Iron Mines Holdings Ltd. has filed its unaudited financial statements and management's discussion and analysis for the first quarter of fiscal year ending March 31, 2012. The documents are…

August 19, 2011

Japan July crude steel output almost flat

Japan's crude steel output was almost flat in July from the previous month, as the strong yen hurt steel exports while carmakers ramped up production following a post-quake slump. Crude…

August 19, 2011

Mining giant: Profit up 80 per cent

Fortescue Metals Group has almost doubled its full year net profit to $US1.02 billion ($A984.7 million) and declared its maiden final dividend amid strong iron ore demand.

August 19, 2011

Global Economic woes weigh heavily on revival in European steel market

Steel market has been expectant of a revival in European and MENA region after the summer and Ramadan holidays. Aspirations for the revival are based on absence of buying in…

August 18, 2011

In Sierra Leone youths riot over iron ore

Police in Port Loko have confirmed that dozens of youths were arrested at the Sanda Magbolotor Port Loko district, including a Councillor and the driver of a Member of Parliament…

August 18, 2011

Renova in talks to buy Ukrainian metals assets

Kommersant cited unidentified people close to the matter as saying that Mr Viktor Vekselberg Russian billionaire Renova Group is in talks to buy metals assets of Viktor Pinchuk EastOne LLC.

August 18, 2011

Kazakhstan crude steel production in Jan to Jul up 21%

According to the State Statistics Committee of Kazakhstan, in January to July of the current year Kazakhstan produced 2.926 million tonnes of crude steel up by 21.4%YoY.