Firms from 16 countries to invest in Iran’s mining sector

(Minews) -  Several companies from as many as 16 countries are eager to invest in Iran’s mining sector, according to a report.There were many applications for co-operation from German, Danish, Krygyz and Indian companies, besides Oman and Kuwait, said the Iran Daily report.Companies from ...

Iron seen dropping to $45 by UBS as Australia exports jump

(Minews) - Iron ore shipments from Australia are set to pick up in the second half on mine expansions from the largest suppliers, according to UBS Group AG, which forecast prices may drop to average $45 a metric ton between July and December.While some higher-cost supply is being cut, including from ...

16 projects worth over $5.1bn to be proposed to foreign investors

(Minews) - Iranian Mining Industries Development and Renovation Organization (IMIDRO) announced on Monday that 16 projects worth $5,173,000 will be proposed to foreign investors in 1st Int'l Conference on Investments in Mines and Mining industries.According to the announcement, the projects will be ...

Anglo fined $6.2m for environmental breaches at Los Bronces mine in Chile

(Minews) - Chile’s environmental watchdog imposed Tuesday a US$6.2 million fine to Anglo American’s, Los Bronces copper mine in Chile related to breaches that caused “irreparable” damages to a nearby agricultural valley.In an e-mailed statement (in Spanish), the Superintendence for ...

Steel industry strengthens Iran’s economy

(Minews) - One of the major factors taken into account when evaluating a country’s growth is its steel industry; and Iran enjoys good capacities in that area, Member of the Tehran Chamber of Commerce Mehdi Zohrevahndi told Trend May 3.Iran has very good mines and there are many steel factories ...

Plan to extract 450m tons of minerals

(Minews) - The ministry of industry, mine and trade is targeting to increase mineral extractions to 450 million metric tons in the current Iranian calendar year (started March 21), IRNA reported.Based on the statistics provided by the industry ministry, 370 million tons of minerals were in the Iranian ...

Tehran joins copper producing provinces

(Minews) - The operational phase of the first copper cathode production plant in Tehran Province has been launched following the completion of exploration and feasibility studies, the Financial Tribunes sister newspaper Persian daily Donya-e Eqtesad reported.  Initial studies started in 2007 and ...

IMIDRO attracts $7b in private investment

(Minews) - The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has managed to absorb 200 trillion rials (over $7 billion based on official currency exchange rate) in private sector investments during the past 18 months, Fooladnews quoted deputy minister of industry,...

Cement makers Holcim and Lafarge win U.S. antitrust approval to merge

(Minews) - Holcim Ltd, a Swiss company, and Lafarge S.A. which is based in Paris, on Monday won U.S. antitrust approval to merge after they agreed to divest assets, the Federal Trade Commission.The companies agreed to divest plants, terminals and a quarry to gain approval of their $25 billion deal, ...

Iran ranked 4th among world ceramic makers

(Minews) - Deputy Minister of Industries, Mines and Trade Ali Asghar Tofiq said on Monday that Iranian ceramic products have a good global market and Iran is the world's 4th major ceramic producer.According to the Tehran-based English newspaper Iran Daily 'Around 10 universities and 15 research centers ...

Australia's iron ore shipments to China down 4 pct in April

(Minews) - Australia's iron ore exports to China from Port Hedland, the world's biggest terminal for shipments of the raw material, fell 4 percent in April from March, port figures showed, as demand from China's steel mills dwindled amid a construction slowdown.Exports of the steelmaking ingredient ...

EU opens investigation into Chinese steel rebar imports

(Minews) - The European Commission said on Thursday it had opened an investigation into alleged dumping by Chinese producers of a grade of steel used to reinforce concrete principally in Britain and Ireland.The Commission said it had received a complaint from European steel association Eurofer in March ...

Steel and cement among leading industries in Iran

(Minews) - The minister of Industry, Mine and Trade has described the auto, home appliance, steel, cement and food sectors as the country's leading industries.The auto industry registered an average of 65% growth during the 11 months of the past Iranian calendar year (ended March 20) compared to the ...

Ministry of industry puts Iran's mineral reserves at 43 bn tons

(Minews) - Deputy Minister of Industry, Mine and Trade, Jafar Sarqeini, on Monday put Iran's mineral reserves at 43 billion tons.The former minister of industry, mine and trade under President Mahmoud Ahmadinejad had put Iran's mineral reserves at around 57 billion tons. It is not clear what has caused ...

S&P warns BHP rating vulnerable to weak iron ore, oil prices

(Minews) - Standard & Poor's warned on Monday it may cut BHP Billiton's credit rating in the next 12 months, reflecting the global miner's commitment never to cut its dividend, even in the face of weak prices for its two biggest earners."The negative outlook reflects the increased likelihood ...

Goldman Sachs in talks to sell coal mines

(Minews) -  Goldman Sachs Group Inc. is in talks to sell coal mines at a loss, the Wall Street Journal reported citing people familiar with the negotiations. The company got a disconcerting update a year after buying its second coal mine in Colombia: "Certain operational issues have arisen,...

Price, distribution the main obstacles to synthetic diamond growth

(Minews) -  The use of synthetic, or lab-made diamonds, has challenged the natural diamond industry, even though production of synthetic gems is low compared to naturally-mined stones – only 1 to 2 out of every 100 carats sold is a synthetic (see table at top). Diamond retailers fear their ...

Challenges and hopes in Iran's cement industry

(Minews) - Cement is considered as an indicator for development in developing countries since it is a key component of concrete, which is essential to the implementation of infrastructural plans. Despite being the fourth global producer of cement, however, Iran’s cement industry has run into trouble ...

New Chinese state-owned firm to restart copper output at Penghui plant

(Minews) -  A new state-owned company in China is working to restart production at the mothballed facilities of failed Yantai Penghui Copper Industry Co Ltd in northeastern Shandong province, two sources said.State-owned Penghui Copper, a medium-sized smelter, halted production in December 2014 ...

Aluminum plant under construction in Fars

(Minews) - After an eight-year hiatus, the construction of the first phase of South Aluminum Company (SALCO) was launched in the southern Fars Province. The company has the annual capacity of producing 300,000 metric tons of aluminum ingots upon completion of the first phase, Fooladnews reported.The ...