Coal India decision to cancel coal won by Jindal Power comes under Delhi High Court lens
(Minews) - The Delhi High Court today asked Coal India Ltd (CIL) how it was offering coal from two Chhattisgarh mines to NTPC when it had cited production issues to cancel an e-auction of 49,000 metric tonnes (MT) of the mineral, mined from the same area, which was won by JPL.A bench of justices Badar ...
Iran's mineral exports at $6.5b
(Minews) - About $6.5 billion worth of ores and mineral products were exported over the past Iranian year (ended March 20), Eghtesad-News quoted deputy minister of industry, mine and trade, Ja'far Sarqini as saying.The deputy minister added that the export figure has been achieved despite the fact that ...
New steel complex to be built in Mokran
(Minews) - According to the head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), a consortium composed of IMIDRO, private sector companies, and Chabahar Free Trade and Industrial Zone Organization has signed the contract to build a steel complex in Mokran ...
Alrosa unearths 78.02-carat diamond from its Mir mine
(Minews) - Russia-owned diamond miner Alrosa has unveiled a 78.02 ct. diamond from its Mir underground mine, estimated to be worth more than $600,000 if put on auction.The stone, measuring 28.5 х 28.4 х 24.2 mm, has a regular shape with minor technogenic damages on two tops and small inclusions, experts ...
(Minews) - Iran’s labor minister has said that bitumen exports are set to increase.“With the startup of new projects, bitumen exports capacity will increase to earn the country significant revenue,” Ali Rabiei said.He was speaking at the inauguration of a bitumen plan in Iran’s oil-...
Iran Parliament offers remedies to help recover coal mines
(Minews) - The Islamic Parliament Research Center has conducted an investigation into the setbacks the country’s coal sector suffers from, the most important of which is traditional extraction techniques and monopsony in the market, Eghtesad-News reported.The center has released a report suggesting ...
Iran among top 10 countries in terms of mineral reserves
(Minews) - An Iranian official says the Islamic Republic ranks among the world’s top 10 countries in terms of mineral reserves.“According to current estimates, Iran's total amount of mineral reserves has been estimated at 50 billion tonnes, making the country rank among the world’s ...
Barrick sells Australian Cowal gold mine to Evolution for $550 mln
(Minews) - Barrick Gold , the world's top gold producer, has agreed to sell its Cowal mine to Evolution Mining for $550 million in a deal that will turn Evolution into Australia's second largest producer of the precious metal.The deal gives Evolution a large, low-cost mine that will boost its output ...
Metso places mining division in back burner as sales remain poor
(Minews) - Finland-based mining technology supplier and engineering firm Metso is putting its mining division in the back burner and will, instead, boost its services offer as orders from the resource and energy sector continue to be poor.Chief Executive Officer Matti Kahkonen, resigned to just breaking ...
Iran to export sponge iron to Turkey
(Minews) - The global iron ore crisis and the increased mining royalties in Iran have put small and medium iron ore mines, especially those in the northern half of the country, under great pressure, making them consider exporting the mineral to the northwestern neighbor Turkey, Fooladnews reported.Since ...
Iran's crude steel output growing
(Minews) - The World Steel Association, known as Worldsteel, announced that Iran produced more than 5.36 million metric tons of crude steel in the first four months of 2015, indicating a 3.5% growth compared to the similar period in 2014, Tasnim News Agency reported on Saturday.Based on the report, ...
East Azarbaijan holds 1% of global copper reserves
(Minews) - Deputy governor of East Azarbaijan Province, Davood Behboudi, says the province has great industrial and mineral capacity, holding 1% of the global copper reserves, Mehr News Agency reported.Behboudi added that 12.5% of the country’s metallic mineral as well as 26% of non-metallic reserves ...
Uncertainty surrounds provincial steel projects
(Minews) - While only €14 million out of the €1.8-billion finance pledged by China has so far been injected into the major national steel plants, known as the Seven Provincial Steel Projects, many experts argue the inappropriate location of a number of these projects will result in failure,...
CME developing European gold futures contract
(Minews) - The Chicago Mercantile Exchange (CME) is developing a European gold futures contract to serve customers in London, three sources familiar with the matter said, which could present a direct challenge to London's traditional cash market.The contract would mirror existing futures traded on CME's ...
US Congress passes bill on space mining
(Minews) - The U.S. Congress has taken a step forward towards defining out-of-Earth’s property rights by passing this week a commercial space bill that would help asteroid miners delimit the scope of their businesses.Until now, there was no legislation clarifying issues such as whether resources ...
Australia ditches iron ore probe after lobby, China-Brazil supply deal
(Minews) - Australia’s government has decided to dump plans to conduct a special parliamentary inquiry into its iron ore industry, following a supply agreement between China and Brazil that could drag prices even lower, further affecting the country’s economy.“We certainly haven’...
25pc duty on Iranian cement proposed
(Minews) - All Pakistan Cement Manufacturers Association (APCMA) has suggested 25 per cent customs duty, which is currently at 1pc, to discourage import of Iranian cement. The association in a statement on Friday stated that the merchants did hide the volume of imported cement to evade duties. “...
NICICO copper ore extraction tops $12m
(Minews) - The Iranian National Copper Industries Company (NICICO) extracted copper ore worth more than $12 million in the month ending on April 22, according to data released by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).Also, Sarcheshmeh and Meydook copper ...
India to eclipse China as top coal importer in 2015
(Minews) - India is expected to overtake China as the world's top coal importer in 2015, faster than previously expected, traders and consultants said on Wednesday.India's coal imports should rise to around 200 million tonnes this year, from around 180 million tonnes in 2014, said Mayank Garg, managing ...
SEC fines BHP $25 million after gifts probe
(Minews) - The U.S. Securities and Exchange Commission slapped Australian mining company BHP Billiton with a $25 million fine for practices tied to gifts offered to foreign government officials during the 2008 Summer Olympic Games in Beijing.BHP agreed to pay the fine to settle the charges, the SEC ...
