(Minews) - Esfahan Steel Company (ESC) produced a record high of 2.7 million metric tons of crude steel during the past Iranian calendar year (ended March 20), indicating 20% growth compared to the previous year, IRNA reported.“The company’s sales and exports witnessed 56% growth last year,...
Rio Tinto reveals surprise fall in iron ore exports
(Minews) - Rio Tinto has revealed a surprise 12 per cent fall in iron ore exports, according to a set of March quarter results that were weaker than analysts had hoped.Following a period of intense political pressure over its strategy to continue investing in iron ore export growth, the raw export numbers ...
Flawless 100 carat diamond up for auction at Sotheby's
(Minews) - A "perfect" 100-carat diamond in a classic emerald-cut could fetch between $19 million to $25 million at auction."This 100.20-carat diamond is the definition of perfection. The color is whiter than white. It is free of any internal imperfections," Sotheby's New York jewelry ...
Gold demand muted on Akshay Tritiya, buyers hope for lower prices
(Minews) - Gold purchases in India started slowly on Tuesday, a festival day, despite a fall in local prices, as hard times in rural areas have hit demand and many buyers are holding back because they expect prices to fall even further.Indians are the world's biggest consumers of bullion and Akshay ...
Iran, major steel exporter to Iraq
(Minews) - Iran’s Trade Promotion Organization has announced itself as the major steel and other mineral exporter to Iraq in 2013. Iran’s state news agency IRNA report quoted the Organization’s publications showing that Turkey, Ukraine, China, Jordan, Italy, India, Russia, South Korea,...
Zambia government sets mining royalty tax at 9 pct
(Minews) - Zambia has set the royalty tax rate for open cast and underground mining at 9 percent, the government said on Monday, rowing back from earlier plans to charge as much as 20 percent.Zambia's decision to increase royalties for open pit mines to 20 percent from 6 percent and those for underground ...
Egypt to impose 8 pct import tariff on steel rebar
(Minews) - Egypt will impose an 8 percent import tariff on rebar - reinforced steel bars - for three years, the industry and trade ministry said on Sunday, extending temporary tariffs introduced last year to protect the domestic industry.A ministry statement said Egypt would also impose a 20 percent ...
Iran calls for investment in Lake Urmia mineral
(Minews) - The Ministry of Industry, Mine and Trade has called on financiers to invest in a project to utilize the mineral salts such as calcium carbonate, sodium chloride and potassium sulfate in the Lake Urmia, located northwest of the country, Mehr news agency reported.Lake Urumia, the largest inland ...
IMIDRO:16.8 million tons of steel ingots produced
(Minews) - Over the past year more than 16.8 million tons of steel ingots have been produced in Iran, which in comparison to the preceding year (1392) shows a 7.4 percent growth, according to a report.Iranian Mines and Mining Industries Development and Renovation Organization ( IMIDRO) reported that ...
New mineral exploration in Kohgiluyeh and Boyer-Ahmad
(Minews) - Deputy head of the Geological Survey of Iran (GSI), Behrouz Borna said Iran currently holds 70 different types of minerals, adding that 15 new mineral species including rare-earth elements, nickel and quartz will soon be explored, ISNA report on Sunday.The official made the remarks as part ...
New chapter in mineral ties between Iran and Kazakhstan
(Minews) - Iran is planning to increase crude steel production using raw materials supplied by iron ore resources in Kazakhstan, Fooladnews quoted Mehdi Karbasian, deputy minister of industry, mine and trade as saying.“The two countries agreed to develop cooperation in the mining industry through ...
Rio Tinto to slash costs further to endure bumpy ride in iron ore
(Minews) - Rio Tinto, the world's second largest mining company, warned of "continued bumps" in its key iron ore market and vowed to stay focused on slashing costs to be the last man standing at a tough time for the sector.The London-listed company and its rivals BHP Billiton and Vale are ...
Codelco spending $25 billion just to keep output steady
(Minews) - Chile's Codelco is in the midst of executing a $25 billion investment plan aimed to expand its aging mines and search for new high-grade deposits.Despite spending $5 billion every year for the next five years CEO Nelson Pizarro told the CRU World Copper Conference in Santiago that it expects ...
Half of output from small iron ore miners may close as demand peaks - Goldman
(Minews) - Up to half of iron ore output by miners outside the mega producers in Australia and Brazil is at risk of closure with global demand set to peak next year, Goldman Sachs said."We expect seaborne iron ore demand to peak in 2016 as the displacement of marginal Chinese iron ore production ...
Misdeclaration on cement import from Iran continues
(Minews) - The All Pakistan Cement Manufacturers Association (APCMA) has condemned the illegal import of cement from Iran and tax evasions at the import stage by misdeclaration, which is seriously affecting Pakistan's cement industry. The APCMA has urged the government to stop the trade immediately....
China steel output slides to worst first quarter in 20 years
(Minews) - China’s crude steel output fell in the first three months of the year, the first decline over that period in 20 years, as the country grew at the slowest pace since the global recession.Crude steel production from January to March slid 1.7 percent from a year earlier to 200.1 million ...
Iron ore cut by JPMorgan as China’s steel output contracts
(Minews) - A worsening mismatch between global iron ore supply and demand prompted JPMorgan Chase & Co. to reduce price forecasts through 2018 as data from China showed steel output in the world’s largest producer shrank in the first quarter.The raw material will average $51 a metric ton this ...
Investment in non-metal minerals up in Iran
(Minews) - According to the Ministry of Industry, Mine and Trade, the amount of investment in the non-metal minerals sector stood at $393,000 during the 11 months of the past Iranian calendar year (ended march 20), which shows a 21.8 percent increase compared to the similar period a year before, Mehr ...
Iran to launch anode manufacturing factory
(Minews) - The managing director of Iranian Aluminium Company has said launching of anode manufacturing factory would bring $54mn to the economy in saving costs of import. Hamid Badkoubeh told a press conference on Tuesday that construction of the anode manufacturing unit would be started in late ...
Controversy over export of raw minerals in Iran
(Minews) - While the export of raw minerals has for long been the subject of intense scrutiny by government authorities and the parliament, some miners and mining experts believe that the country’s infrastructure cannot process all domestically-produced raw minerals.While lawmakers consider the ...
