Reuters reported today that India’s JSW Steel (NSE:JSWSTEEL) plans to import six million tonnes of iron ore this fiscal year. Last year, the steel giant imported almost no iron ore as a result of production cutbacks
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Reuters reported that JSW Steel Ltd. (NSE:JSWSTEEL) the third largest steel maker in India, will import almost half a million tonnes of iron ore from Australia and South Africa by mid summer.
The Age reported today that Rio Tinto (NYSE:RIO) may not be the only player in town in terms of iron ore in Africa, as Tawana Resources (ASX:TAW) has a significant iron ore project in Liberia.
Mining.com reported today that top steelmaker ArcelorMittal (NYSE:MT) is poised to purchase BHP Billiton’s (NYSE:BHP,ASX:BHP) interest in a significant iron-ore deposit in Guinea. According to Mining.com, BHP has wanted to sell its stake in the Mount Nimba project since July 2012.
West African Iron Ore Corp. (TSXV:WAI) provided a technical, financial and corporate update. Highlights include: a delay on the anticipated NI43-101 technical report on the N’Dougou Project, a convertible debenture financing agreement with Sky Alliance Resources, and Philip O’Neal resigning from the Board of Directors.
Reuters Africa reported that South African iron ore producers Assore and Kumba have seen their stocks come back with roughly 3.5 percent gains on spiking iron futures.
Bloomberg reported that according to Charles Siwawa, CEO of the Botswana Chamber of Mines, Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) may have found “huge” iron ore deposits in the country.
Mining Weekly reported that Rio Tinto plc’s (ASX:RIO,LSE:RIO,NYSE:RIO) Alan Davies said at Investing in African Mining Indaba that the Simandou project, which is expected to put out about 100 million tonnes of iron ore annually, is a “very important investment” for the company.
Reuters reported that yesterday, Norman Mbazima, chief executive of Kumba Iron Ore Ltd. (OTCMKTS:KIROY), a unit of Anglo American plc (LSE:AAL), said he expects the company to be granted a “key mining license” for the expansion of its South Africa-based Sishen mine during the first half of 2014.
Reuters reported that Exxaro Resources Ltd. (OTCMKTS:EXXAY), a South African company, has been awarded a permit to begin production at the Mayoko iron ore mine, located in the Republic of the Congo.