Turks seek investment in Iran ferrochrome
(Minews) - A Turkish industrial group has indicated interest in investing in Iran for production of ferrochrome, the Fars news agency said on Friday. Yildirim Holding A.S. says it is ready to purchase Iran’s ferrochrome production units or their products and mines to produce chrome ores.Yuksel ...
Italian steel magnate arrested in Ilva case
(Minews) - Italy's financial police have arrested the former CEO of steel maker Ilva after he was extradited from Britain on charges he committed crimes against the environment and fraud at Europe's biggest factory by output capacity.Fabio Riva was taken into custody late on Friday at Rome's Fiumicino ...
Anglo American sees surge in iron ore sales to India
(Minews) - Global miner Anglo American said its iron ore sales to India have more than tripled over the past year as Asia's third-largest economy embarks on a once-in-a-generation urbanisation drive."India is around 15 percent of our (iron ore) sales portfolio, or about 6 million tonnes (a year),...
U.S. steel firms file complaint over cheaper imports
(Minews) - U.S. steel companies on Wednesday filed a complaint with the U.S. government over cheaper imports of corrosion-resistant steel from China, India, Italy, South Korea and Taiwan, kicking off a process that could end in import duties.The companies alleged steel producers in the five countries ...
BHP Billiton warns global commodity supply glut to persist
(Minews) - BHP Billiton , the world's biggest mining company, warned on Wednesday that a global oversupply of commodities that is putting pressure on prices is likely to be be prolonged.In metals markets, newly installed low-cost supply can now be stretched to meet growing demand, BHP Billiton Chief ...
Gold industry injected $171bn into global economy in 2013
(Minews) - A new report released today from the World Gold Council, produced in association with Maxwell Stamp, a leading international economics consultancy, reveals that the gold mining industry directly contributed around US$83.1 billion to the global economy in 2013. Once the indirect economic impact ...
UBS predicts iron ore prices could fall again, but Chinese Steel Association optimistic
(Minews) - Swiss investment house UBS expects the price of iron ore to fall again later in the year, amid a glut of apartments built in China and a global oversupply of the ore, which is used to make steel.UBS said demand for steel has peaked in China and it does not expect a pickup in Chinese housing ...
European oil companies rattle coal with call for fee on carbon emissions
(Minews) - Europe's oil and gas companies took direct aim at the coal industry Monday, calling upon governments to set a global price on carbon emissions that could dramatically drive market share from coal to natural gas.The joint declaration issued by six European oil and gas majors was cautiously ...
Mining exploration spending in Australia hits decade-low
(Minews) - Australia’s spending on mining exploration has hit a near-decade low of A$381 million in the three months to March, in a dramatic fall led mainly by the iron ore and coal sectors.According to data from the Australian Bureau of Statistics released Monday, the country’s total exploration ...
Iran to explore for radioactive ores
(Minews) - The Ministry of Industry, Mine and Trade is planning to engage in research and exploration for radioactive minerals, Minister of Industry, Mine and Trade Mohammad-Reza Nematzadeh was quoted by Mehr News Agency as announcing on Sunday.“There are untapped reserves of radioactive minerals ...
Iran to cut mining royalties as iron ore slump bites
(Minews) - Iran will cut mining royalties to help its struggling iron ore miners, but that will reduce revenue for a government already reeling from lower oil prices, an industry executive said.Iran had been hoping to offset falling oil income with revenue from other sectors, but its efforts have been ...
Meteorites heading to Earth may contain trillions of diamonds
(Minews) - A meteorite that fell to Earth in 2008 is giving scientists and miners more evidence of the vast amount of riches that celestial bodies may hold.According to a new study to be published in the August edition of the Geochimica et Cosmochimica Acta journal, several fragments of the Almahata ...
(Minews) - Oil giants Total SA and Royal Dutch Shell have decided to abandon coal mining and focus instead on ramping up production and trading of liquified natural gas as a cleaner alternative to cheap coal.According to Bloomberg, Total aims to produce and trade about 32.5 million metric tons of LNG ...
Iran and Russia cooperation on mining projects a good opportunity
(Minews) - The Western sanctions imposed on both Iran and Russia have provided a good opportunity for joint mineral projects, says a representative of the Russian geological holding company, Rosgeo.Visiting Iran to attend a mine and mining machinery exhibition in the northwestern city of Zanjan, Rosgeo’...
Iran's new copper facility will be launched in three months
(Minews) - Iran’s second biggest facility to produce copper cathodes will be inaugurated within the next three months in Tarom Copper Mine in Qazvin Province, Mehr News Agency reported.According to head of Qazvin’s industry, mine and trade organization, Ali Porzahmat, the mine will produce ...
coal facing worst year yet in 2015
(Minews) - 2015 is shaping up to be a fateful year for the coal industry.After coal prices tumbled from their highs in 2011, the industry hit a rough patch. Years of buildup in mining capacity hit the markets at the same time, sending prices crashing. By the beginning of 2014, things were looking pretty ...
Aureus Mining pours first gold at New Liberty project in Liberia
(Minews) - Toronto and AIM-listed Aureus Mining has poured the first gold at its New Liberty project in northwestern Liberia, the company said on Monday.The mine, around 100 km (62 miles) northwest of the capital Monrovia, is expected to have an eight-year mine life and annual production of 119,000 ...
Outotec to supply iron ore pelletizing technology for B-MISCO in Iran
(Minews) - Outotec has won an order from Bafgh Mineral Complex Iron and Steel Industry Company (B-MISCO) for the design and delivery of technology and services for a new iron ore pelletizing plant in Bafgh, Yazd Province, Iran. The parties have agreed to not disclose the contract value, but typically ...
Iran’s global ranking in minerals output
(Minews) - A report by the Ministry of Industry, Mine and Trade reveals Iran's global ranking in production of five strategic commodities, namely steel, cement, iron ore, aluminum and automobiles, from 2010 to 2014.According to the report, Iran's rank stood at 14, 4 and 9 in steel, cement and iron ore ...
Mobarekeh steel mills make up for 51 percent of steel output
(Minews) - Mobarekeh steel Mills including Hormuzgan and Saba, crude steel ouput make up for 51 percent of the national steel output in the first four months of the year 2015.Production of crude steel in IMSG in the first four months of 2015 rose up by 17 percent compared with the preceding year, with ...
