Newmont agrees to sell New Zealand gold mine to OceanaGold
(Minews) - Newmont Mining Corp said on Wednesday it has tentatively agreed to sell its Waihi gold mining operation in New Zealand to OceanaGold Corp for about $106 million plus a 1 percent net smelter royalty on a recent discovery near the mine.As part of the letter of intent, OceanaGold will ...
India to cut export tax on low-grade iron ore in boost for Goa
(Minews) - India will cut an export tax on low-grade iron ore to 10 percent from 30 percent, Finance Minister Arun Jaitley said on Thursday, in a big boost for top exporting state Goa which is close to restarting its mining industry.Court action against illegal mining has shut the industry in ...
Church of England blacklists coal and tar sands investments
(Minews) - The Church of England said on Thursday it has decided to blacklist coal and tar sands investments over climate change concerns, the Financial Times reported.The Church said it would sell 12 million sterling ($18.4 million) of its holdings in thermal coal and tar sands companies, two of the ...
Chinese steel exports to stay high this year
(Minews) - China's steel exports will remain competitive and are unlikely to fall much this year, as low prices and firm demand offset the scrapping of an export tax rebate on certain products, the China Iron & Steel Association (CISA) said on Wednesday.Beijing wants to rein in exports to avoid ...
Vale posts $3.2 bln loss on iron ore's relentless fall
(Minews) - Brazil's Vale SA , the world's No. 1 producer of iron ore, on Thursday posted its third straight quarterly loss under pressure from falling prices of the commodity as demand growth from China slows.The miner reported a net loss of $3.2 billion in the first quarter, compared with a net profit ...
Iran, Guinea-Conakry to reactivate bauxite mine
(Minews) - Iran and Guinea Conakry on Friday discussed taking initial steps for re-activation of the bauxite mine in Guinea -Conakry after a 23-year delay in the project.The Shareholders and managerial board of the Societe des Bauxites de Dabola-Tougue (SBDT) in their joint General Assembly meeting ...
Lithium deposits discovered in Iran
(Minews) - The Geological Survey of Iran (GSI) has discovered lithium deposits in Namak (salt) Lake near the city of Qom, said deputy director of GSI, Behrouz Borna, Eghtesadnews reported. “We have extracted 200 grams of lithium per metric ton from 30-40 samples taken from the lake,” said the ...
The unending saga of mining royalties
(Minews) - For more than two years now the issue of ‘mining royalties’ has been in the limelight amid heated debates between the government and two major iron ore mines namely Golgohar, in the southeastern Kerman province, and Chadormalu, in the central province of Yazd.Last Iranian calendar ...
Iron ore galore at IME export floor
(Minews) - Golgohar Mining and Industrial Company offered around 100,000 tons of iron ore, priced at $27 per ton, on the Iran Mercantile Exchange export trading floor on Wednesday trading, IME’s public relations reported.The export trading floor also played host to 29,610 tons of various grades ...
China drives global stainless steel output to 2014 record
(Minews) - A jump in stainless steel output in top producer China drove global production to another record high last year, outstripping demand growth and weighing on prices, an industry report showed on Tuesday.Global stainless steel output rose 8.3 percent last year to a record 41.7 million ...
Vale, China in talks to build 50 giant bulk carriers
(Minews) - Iron ore giant Vale, the world’s No. 1 producer of the steel-making material, is said to be negotiating the manufacture of 50 giant bulk carriers with Chinese shipbuilders.According to Wall Street Journal, the Rio de Janeiro-based miner aims to increase its fleet of mega ships, the ...
Polymetallic reserves discovered in Iran
(Minews) - Polymetallic mines with estimated reserves of about 10 million metric tons have been discovered in the southwestern Province of Chaharmahal and Bakhtiari, IRNA quoted head of the province’s industry, mine, and trade organization, Naeim Emami, adding that copper, cobalt, and zinc ores ...
Controversy surrounds plan to end raw mineral exports
(Minews) - The ministry of industry, mine, and trade is aiming to terminate the sales and export of raw minerals within the next two years. This is while many of the processing facilities in the mining sector have not yet come into operation and there is dissension among the mining sector players over ...
Codelco utilising robots to monitor equipment and safety
(Minews) - Chilean copper miner Codelco plans to use robotic machinery to monitor its equipment and boost safety standards at its Gabriela Mistral project.Many of the company’s operations are in older mining sites and to compensate for the lack of initial peak production from newer mines, Codelco ...
India to continue with coal block auctions
(Minews) - The government will continue the process of auctioning coal blocks after successfully putting 33 mines under the hammer earlier this year, a senior government official said on Tuesday.Speaking to reporters in Mumbai, R.N Choubey, special secretary of the ministry of power, said 18,000 to ...
Iran's mineral exports down 24%
(Minews) - Mining sector export declined by 24 percent in the year to March 20, 2015 compared to the figure for the year earlier, said a report on Sunday.The Ministry of Industries, Mines and Trade said in a report that more than 23.7 million tons of mineral products worth $1.5 billion were exported ...
(Minews) - Minister of Industry, Mine and Trade, Mohammadreza Nematzadeh has anticipated that raw mineral exports will come to an end within the next three years as investments in the manufacturing sectors are on the rise.He made the remarks in the opening ceremony of Shahroud Steel Production Plant ...
BIM gives $2b in business loans
(Minews) - The CEO of Bank of Industry and Mine announced that the specialized bank managed to get $2 billion in credits through the National Development Fund of Iran (NDFI) over the last year ( ended March 20) to provide loans for industrial projects. Although the bank has a few branches ...
More than 908,000 tons cement produced in Firouzkoh
(Minews) - Managing director of Faraz Cement Company in Firouzkoh said on Sunday that the company produced more than 908,000 tons of cement in the past year.In a ceremony on the occasion of World Labor Day, Amin Shojaei said that all the produced cement delivered to the market.He added that the plant ...
Iron ore price enters bull market
(Minews) - The spot price of iron ore extended its recent gains on Friday, with the steelmaking material enjoying its best week since 2012.The 62% Fe import price including freight and insurance at the Chinese port of Tianjin added $3.20 or 5.9% to $57.00 a tonne on Friday, the highest since mid-March ...
