June 17, 2011

P&H to consolidate Minnesota Iron Range operations in new service centre

According to local paper, the Duluth News Tribune, P&H Mining Equipment is to close its main Minnesota Iron Range offices in Mountain Iron, Buhl and Hibbing after construction of a…

June 17, 2011

Tata Steel sells Riversdale stake to Rio Tinto

India's Tata Steel on Thursday agreed to sell its 26 percent stake in Australia's Riversdale to Rio Tinto for $1.1 billion, giving the Anglo-Australian giant full control of the coal…

June 17, 2011

Demand destruction looms to hit gold and base metals in H2 2011

After an unrivalled rally, commodity prices are likely to soften during the second half of the year, according to Bank of America Merrill Lynch. At a seminar in London on…

June 16, 2011

Investors are finally seeing value in deal-hungry super-profitable Brazilian giant Vale

With a new government-backed CEO, a capex budget and acquisition war chest that dwarfs others, record net profits, a very generous dividend policy, strong fundamentals in its core business, aggressive…

June 16, 2011

Vale’s new partnerships stir competition in Brazil steel market

Dow Jones Newswires reports Brazil’s steel sector has been shaken up since mining giant Vale SA started building its first steel mill, […]

June 16, 2011

Peru miners want proposed tax based on profits

Top miners in Peru expect to have to pay a new tax on windfall profits proposed by President-elect Ollanta Humala, but on Wednesday urged the incoming government to refrain from…

June 15, 2011

Rio Tinto to spend $676m to speed up iron ore expansion plans

World no.2 iron ore miner Rio Tinto is investing $676 million to speed up its iron ore expansion by six months to capture demand as rival plans to boost production…

June 15, 2011

Xstrata begins magnetite exports from Australia

Mining giant Xstrata PLC says it will begin to export magnetite, a form of iron ore as it seeks to service Asian demand from its mining interests in Australia. The…

June 15, 2011

Essar to process Zimbabwe iron ore if it decides to export

Bloomberg reports Essar Africa Holdings Ltd., a unit of Essar Group, said it will process Zimbabwean iron ore before exporting it through a terminal it may build in Mozambique's port city…

June 15, 2011

Japanese iron ore demand to surge in Q4 – Vale

Brazilian miner Vale (VALE5.SA:Quote) expects iron ore demand in Japan to reach 90 percent of pre-crisis levels in the fourth quarter, the company's global marketing director Pedro Gutemberg said. "Japan…