BHP Billiton's coal chief sees tough time ahead
(Minews) - BHP Billiton's coal chief, Mike Henry, says he expects no recovery in coking-coal prices, already languishing at decade lows, at any time soon.In comments to The Australian newspaper, Mr. Henry, who heads the world's biggest coking-coal exporter, said that despite the price outlook, he intends ...
LME reaches settlement on U.S. aluminum class-action cases
(Minews) - Hong Kong Exchanges & Clearing Ltd (HKEx) has settled two class-action lawsuits against itself and the London Metal Exchange (LME) over allegations of anti-competitive and monopolistic behavior.No money was paid by either side in arriving at the settlement, the HKEx-owned LME said in ...
No joy for EU steelmakers from rising demand as imports bite - Eurofer
(Minews) - European economic growth is expected to power a 1.5 percent rise in EU steel demand this year but local producers will see little benefit due to rising imports, steel body Eurofer said on Thursday.Overall steel imports into the European Union are expected to rise 5 percent, hurting domestic ...
Prepare for flood of copper concentrate
(Minews) - Global copper production capacity at mine level through 2018 is expected to grow at an average annual rate of 6% to reach 27.4 million tonnes (mt) a year in 2018, according to a new report by the International Copper Study Group.In its bi-annual directory of copper mines and plants, the Lisbon-...
Iran iron ore mining royalties down 70%
(Minews) - China produced 327 million tonnes of coal in June, down 4.9 percent from the same period last year, with major producers slashing output to minimise losses, according to data from the country's statistics bureau.Production in the first six months reached 1.789 billion tonnes, down 5.8 percent ...
Iran may pose challenges for Pakistan cement industry
(Minews) - After the Iran and western countries nuclear deal, there are concerns that Iran may pose challenges for Pakistan cement manufacturers, considering Iran’s large production capacities and lower prices.According to industry experts, though lifting of sanctions would enable Iranian cement ...
China discloses its gold holdings
(Minews) - China offered a rare peek into its financial system on Friday, releasing an update on its gold reserves for the first time in six years.At the end of June, China’s gold holdings totaled 53.32 million troy ounces, up 57% from the end of April 2009, the last time the People’s Bank ...
India to build aluminum smelter complex in Iran
(Minews) - India plans a $3 billion aluminum smelter complex in Iran, now that nuclear negotiations between Tehran and world powers have concluded, media reports say.The idea was mooted in 2014 but India had been cooling its heels for the removal of sanctions on Iran to go ahead with the plan.India's ...
Vale cuts 25 million tonnes of high-cost iron ore production
(Minews) - Vale plans to cut 25 million metric tonnes of high cost iron ore from its portfolio, but analysts say the move will do little to help the depressed price of the commodity.Vale’s executive director, Peter Poppinga, says the decision is based on predictions that the iron ore market will ...
China June coal output falls 4.9 percent to 327 mln tonnes
(Minews) - China produced 327 million tonnes of coal in June, down 4.9 percent from the same period last year, with major producers slashing output to minimise losses, according to data from the country's statistics bureau.Production in the first six months reached 1.789 billion tonnes, down 5.8 percent ...
Little joy for Iran's private iron ore exporters from nuclear deal
(Minews) - Its nuclear deal with world powers bodes well for Iran's crude oil sales but offers less for Tehran's second biggest export, iron ore, as low prices squeeze private miners out of business.Most of Iran's private iron ore mines face shutting down if prices remain at or below current levels,...
POSCO eyes Iran steel markets; in indirect talks with Iran steel firms
(Minews) - POSCO said it had been in touch with several Iranian firms seeking to do business with the South Korean steelmaker after sanctions were lifted, CEO Kwon Oh-joon said on Wednesday. "A few steel companies in Iran already have contacted us if we can provide steel production technology such ...
Iran permission to sell uranium, other nuclear products imminent
(Minews) - Iran could be selling nuclear materials such as uranium and heavy water to other countries by September if a deal is reached in negotiations with the international leaders in Vienna, multiple news outlets report.According to Russian news website Tass, details of an imminent deal may be unveiled ...
Angouran lead, zinc reserves dwindling
(Minews) - Angouran Lead and Zinc Complex, the largest zinc and lead reserves in Iran, is expected to become depleted within the next 12 years, according to the mine’s officials.The complex’s manager, Mansour Sheibani, said only about 9 million tons of minerals are left in the mine, 2 million ...
IMIDRO: Over 4.3m tons of steel ingot output in the first quarter
(Minews) - Iranian Mines & Mining Industries Development & Renovation (IMIDRO) said on Monday that Iranian steel producers raised their steel ingot output to 4,317,038 tons in the first three months of the year from 4,292,910 tons in the preceding period.Iran is the 14th steel producer among ...
This town has been burning for 50 years
(Minews) - In what seems like the plot to disaster movie, the quiet town of Centralia, Pennsylvania has endured a burning problem since 1962: It's been on fire, literally, for the past 53 years.And how this fire started still remains a mystery. But chemistry can help explain why it's still going.The ...
Iran, third decorative stone producer
(Minews) - Deputy head of Iran's Stone Association said on Monday that Iran after China and India is the third producer of decorative and construction stones, but, it has 12th rank among stone exporters.Malik Rahmati told reporters that production of decorative and construction stones in Iran during ...
World's largest steel company to use rabbit gut microbe to cut emissions
(Minews) - The world’s largest steel producer is planning to spend €87m to use a microbe originally found in a rabbit’s gut to turn a waste gas that contributes to global warming into fuel.Bioengineering company LanzaTech’s technology will be installed at ArcelorMittal’s ...
Congo state miner sells copper concession to Chinese investors
(Minews) - Democratic Republic of Congo's state miner Gecamines said it has sold an exploitation permit for a copper and cobalt concession in southeast Katanga province to Chinese investors for $52 million.In an statement on its website, Gecamines said that it sold the roughly 13 square kilometre concession ...
For Indians, paper gold can't beat the real thing
(Minews) - India is meeting stiff resistance in its drive to make the buying of gold jewellery more transparent and to channel demand into paper gold to stop the metal being used to hide billions of dollars of undeclared 'black money'.The jewellery trade says the Narendra Modi government's plans to ...
