Mozambique port accident deals blow to Vale coal project

(Minews) - A coal stacker has collapsed at the Mozambique port of Nacala, dealing a blow to Brazilian miner Vale's effort to start coal shipments from the African nation in the third quarter, sources told Reuters on Monday.The giant piece of machinery, which is used to handle coal and other bulk materials,...

Alrosa’s biggest diamond mine goes underground

(Minews) - Russia’s Alrosa, the world's top diamond producer by output in carats, has officially shifted operations at its flagship Udachnaya mine from open-pit to underground mining.The underground face of Udachnaya (meaning “lucky”) is expected to yield 5 million carats a year by 2019....

Pakistani cement exports may shrink after Iran sanctions are lifted

(Minews) - Pakistan's cement exports may drop by 10 – 15% at the start of 2016 as more Iranian cement will enter on the world market after sanctions have been lifted, according to Dawn.Pakistani manufacturers will have to increase their export market destinations. However, local Pakistani cement ...

India to sell high-grade iron pellets to Iran as ties strengthen

(Minews) - An Indian state company has agreed to sell high-quality iron ore pellets to Iran, its chairman told Reuters, in what could be a $200 million annual deal that signifies expanding business ties between the countries as sanctions against Tehran ease.India had remained one of Iran's top oil buyers ...

Iran’s steel ranking in world climbs to 13th

(Minews) - Iran produced 1.42 million tons of crude steel in the month of June, up by 1.5% compared with June 2014 and superseding France as the 13th largest steel producer in the World Steel Association’s crude steel production report of 65 countries.Crude steel production in the first six months ...

New mine to add 2 tons to Iran gold output

(Minews) - Iran will open a new gold mine with a capacity to produce 2 metric tons per year of the precious metal in its western Kurdestan province, Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh says. Production from the Sari Gunay deposits near Qorveh with an ore concentration of 1....

Steel distributor settles alleged Iran sanction violations

(Minews) - Great Plain Stainless Co., a Tulsa, Oklahoma-based steel distributor, agreed to pay a $214,000 penalty to settle accusations that it violated U.S. sanctions by allowing a Chinese vendor to ship its products on a blacklisted Iranian vessel, authorities said.The penalty is a reminder that despite ...

Iran’s 6-month steel production up 4.5%

(Minews) - Iran’s steel production output in the first six months of 2015 has increased by 4.5 percent from 8.015 million tons in the corresponding period last year, a report by the World Steel Association said.Based on the released data, Iran’s crude steel production in the first half of ...

Iran’s annual gold production to hit 7 tonnes

(Minews) - Iran’s gold output is estimated to rise to 7 metric tons by 2017 which could significantly improve the country’s place among the world’s producers of the precious metal. Zarshuran, the Middle East’s biggest gold deposit, will yield 6 million metric tons alone, with ...

Iran unveils $29 billion mining projects

(Minews) - Iran has introduced $29 billion worth of mining projects to a trade and investment conference held with the EU in Vienna to discuss post-sanction opportunities for cooperation. The projects include production of aluminum, steel, rare earth elements, copper, gold and coal by tapping Iran’...

350,000 tons cement exported abroad

(Minews) - Head of Fars Province Organization of Industry, Mines and Trade said on Wednesday that in Iranian year of 1393 more than 4.700 million tons cement were produced from the province and 350,000 tons were exported abroad.Ali Hemmati said that export of this amount earned more than 19 million ...

End of Ice Age in mining industry

(Minews) - Several foreign investors have expressed interest in making investments in mineral industries of Iran. It is, however, necessary to identify the comparative advantage of the industry, so that such opportunities are effectively utilized, Eghtesad News reported.In recent years, western sanctions–...

Adani says approval delays halt work on Australia coal project

(Minews) - India's Adani Mining said the latest suspension of work on its A$10 billion ($7.4 billion) Carmichael coal mine in Australia was due to delays in government approvals for the project, which environmentalists say could damage the Great Barrier Reef.Output from the mine, one of a handful under ...

India Mines Ministry proposes doubling of import tax on aluminum

(Minews) - India’s mines ministry will ask its counterparts in the government’s finance department to double the import tax on aluminum to counter cheap imports from the Middle East and China.Producers have sought an increase in custom duty to 10 percent, Mines Secretary Balvinder Kumar ...

U.S. steel pipe producers seek duties on imports

(Minews) - U.S. producers of steel pipes and tubes filed a complaint with the U.S. International Trade Commission on Tuesday over imports from South Korea, Mexico, and Turkey, which could lead to import duties on the products.Imports of heavy-walled rectangular welded carbon steel pipes and tubes were ...

Copper miners to keep churning out metal despite price slide

(Minews) - Copper's production costs have fallen in the wake of lower oil prices and weaker local currencies, which means most miners will continue to pump out metal despite a recent slide in prices.Benchmark copper on the London Metal Exchange tumbled nearly a fifth between early May and earlier this ...

Mills in China's top steel city face new pollution penalties

(Minews) - China's top steel producing city of Tangshan will punish firms if they fail to meet tough new pollution standards over the next three months, according to new industry guidelines, a move that could force closures and help ease a severe capacity glut.China is using tougher environmental rules ...

Iron ore supply to overwhelm weak China demand, Goldman predicts

(Minews) - Rising seaborne iron ore supplies over the next two quarters will probably overwhelm weak demand from mills in China, according to Goldman Sachs Group Inc., which said that a global glut was entering its second year.While housing starts in China have recovered and infrastructure has overtaken ...

Zarshooran turning West Azarbaijan into national gold hub

(Minews) - New explorations carried out by Iran Mines and Mining Industries Development and Renovation Organization in Zarshooran gold mine in West Azarbaijan Province have increased the mine’s proven reserve to 108 tons, making it the richest gold mine in the country.“Further explorations ...

India to create strategic uranium reserve

(Minews) - Concerned about running out of nuclear fuel, India is creating a strategic uranium reserve to ensure that its atomic reactors can keep producing electricity without interruption."The reserve pool could be anywhere between 5000 MT to 15,000 MT which can last for 5-10 years," The ...