Western groups complain to China about steel industry glut
(Minews) - European and American steel industry bodies complained to China on Tuesday about what they see as inadequate measures to rein in the country's bloated steel industry and curb record exports.China, the world's top steel producer, boosted exports of the alloy some 50 percent last year to an ...
Woman unearths close to 4-carat diamond in Arkansas park
(Minews) - A woman this week found a 3.69-carat white diamond in a public diamond field in Arkansas, a few weeks after a man found a 2-carat diamond there.In April 2014, a man found a 6.19-carat white diamond there, and in October 2013, a 14-year-old girl found a 3.85-carat in the same park. That diamond ...
Top U.S. gold producer sees prices increasing 25 percent by 2020
(Minews) - Newmont Mining Corp., the largest U.S. gold producer, expects the price of gold to increase about 25 percent by 2020 on rising demand from China and a weaker dollar.While Newmont foresees some fluctuations in the short term, it has budgeted for a $1,200-an-ounce gold price through 2017, Chief ...
Barrick will not suspend copper mine as Zambia backs down on royalties
(Minews) - Barrick Gold Corp, the world's biggest gold producer, said on Thursday it will not suspend operations at its Lumwana open-pit copper mine in Zambia now that the country's government has reduced mining royalties.Zambia's cabinet set the royalty tax rate for open-pit and underground mining ...
Asia’s richest woman sees iron ore prices lower for some time
(Minews) - Gina Rinehart, Asia-Pacific’s richest woman, said iron ore plummeted more than expected and prices could be low for some time amid a supply glut.“None of us predicted it would be as bad as this,” Rinehart, chairman of Hancock Prospecting Pty, said Friday at a mining industry lunch ...
Afghanistan welcomes Iranian mining investment
(Minews) - In a meeting with senior members of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) earlier this week Afghan President Mohammad Ashraf Ghani pledged to offer every possible help for mining investments in his country. He ordered his minister of finance to identify ...
Iran plans to increase steel exports to 10m tonnes a year
(Minews) - Iran's minister of industry, mine and trade says the country is planning to increase its steel exports to 10 million tons a year by attracting new investments in the sector.Addressing the inauguration ceremony of an iron smelting plant in Iranian city of Shahroud, Mohammad Reza Ne’matzadeh ...
Rise in IMIDRO mines production
(Minews) -The extraction and processing of minerals in mines affiliated to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) experienced growth in the past Iranian calendar year (ended March 20), Eghtesadnews reported on Thursday. During the 12-month period, mineral ...
New steel plates unveiled by Khouzestan Oxin Steel
(Minews) - Khuzestan Oxin Steel Company, located in the southwestern city of Ahwaz, unveiled its new steel plates during a ceremony attended by the head of the Civil Servants Pension Organization (CSPO), IRNA reported on Tuesday.The new plates, known as A537CL2, were ordered by the Iranian Oil Terminals ...
Vale defies price rout to hit new iron production record
(Minews) - Brazilian miner Vale SA said on Wednesday it produced 74.5 million tonnes of iron ore in the first quarter, a company record for the period, as it increased output despite weak prices.The 4.9 percent year-on-year production increase by the world's largest iron ore miner adds to a global glut ...
Iran's steel sector strives to keep up with vision plan
(Minews) - According to the Minister of Industry, Mine and Trade, the production of 50 to 60 million metric tons of crude steel by 2025 – as targeted by the National Vision Plan – can be only achieved through completion of the steel production chain and exploring new iron ore mines, IRNA ...
(Minews) - The National Development Fund of Iran (NDFI) allocated €118 million to finance a steel ingot manufacturing project in Iran Alloy Steel Company (IASCO), IRNA reported.The NDFI will inject the fund through the Export Development Bank of Iran and Bank of Industry and Mine.The IASCO currently ...
Production of new steel sections in Iran
(Minews) - For the first time in Iran's history, arc steel sections are being manufactured by Esfahan Steel Company (ESC), IRNA reported on Wednesday. The steel section, technically known as V21, is highly demanded in the mining sector as it is used in mining operations to prevent the tunnel ceilings ...
Iran's steel output tops 4mln tons
(Minews) - Iran has produced over 4 million tons of steel in the first three months of 2015, indicating a growth of 9% compared with the same period last year.According to the latest report released by the World Steel Association, Iran's steel production was 1.366 million tons in January, 1.409 million ...
Financing for 7 steel projects a step forward
(Minews) - Three representatives from the Chinese state-owned company MCC have arrived in Tehran for talks on injecting €1.8 billion to finance seven national steel projects by May 21, Fooladnews quoted deputy minister of industry, mine and trade Mehdi Karbasian as saying.During a recent visit ...
Chinese firms to pursue steel projects in Iran
(Minews) - Chairman of the Executive Board of Iranian Mines & Mining Industries Development & Renovation (IMIDRO) Mahdi Karbasian has said that China Metallurgical Group Corporation (MCC) has sent three resident representatives to Iran in order to follow the implementation of seven steel projects ...
Semnan accounts for 6% of world gypsum production
(Minews) - Processing gypsum and using modern technologies to produce such valuable mineral would generate great profits for the country and especially the northern Semnan Province, which is the supplier of 6% of the world’s gypsum, said Ali Asqar Jom’ei, the chairman of Semnan chamber of ...
Expert predicts stability in Iran's gold market
(Minews) - Iran’s gold market could remain stable in the coming days though political developments in the region could directly impact the global market of gold, said an expert in Tehran.Mohammad Keshti-Aray, president of the Gold and Jewelry Union, said he believes the ongoing crisis in Yemen ...
BHP Billiton's iron ore output jumps despite weak price
(Minews) - Mining giant BHP Billiton on Wednesday said total iron ore production for the nine months to March jumped to a new high as prices remained near a decade-low, but deferred a project to boost output of the commodity to save costs.In an operational review for the nine-month period, the world's ...
Minister: Iran planning to produce 50–60 million tons steel
(Minews) - Minister of Industry, Mines and Trade said on Tuesday that Iran is planning to produce 50-60 million tons steel. The target is available by setting up chain production lines and exploiting the mines in the next 10 years.Mohammad Reza Nematzadeh said that shortage of iron pellet in the country ...
