Jakarta Post reported that three new iron ore plants will be constructed in Indonesia’s South Kalimantan province to meet rising global demand for the commodity. Director of the Indonesian Industrial Ministry I Gusti Putu Suryawirawan said: The plants will be built by Meratus Jaya inc., Semeru Surya inc., Steel and Mandan Steel inc. with investments of [...]
One Steel Ltd. reported a 57 percentjump in H2 profit, driven by increased iron ore sales and higher steel prices. For more information, click here For company’s website, click here
India’s Dempo Group is may divest 40% in a company that will house its 100 million tonne iron ore reserve. Mr Shrinivas V Dempo, chairman of VS Dempo & Company, said: We are already in talks with 3 to 4 private equity players. We expect to finalize the deal by the end of December. For more information, [...]
The Indian Commerce Ministry is likely to planning to reduce export duty on iron ore. It is also planning to put forward a proposal with regard to waiving the additional railway surcharge on iron ore. For more information, click here
By Melissa Pistilli – Exclusive to Iron Investing News On March 14 this year, the Government of India-owned mining firm National Mineral Development Corporation (NMDC) had issued a call for global partners to buy overseas mines. Mining giant Rio Tinto, also actively seeking to expand its iron ore resources, answered the call and both are set to [...]
Iron ore production in China declined 22 per cent to 63.74 million tonnes in July due to strict controls on explosives in the run-up to the Olympic games. Li Chaolin, a Beijing-based industry analyst, said: Many mines have had to restrict output. For more information, click here
Tata Steel has entered into a $5 billion joint venture investment agreement in Vietnam to establish integrated steel complex with 4.5 million tonne capacity. The agreement also enables Tata Steel to acquire 30 per cent stake in Thach Khe Iron Ore Joint Stock Company, which would undertake mining in the Thach Khe iron ore mine. For more [...]
Three people reported to have died and two are still missing after an iron ore mine collapsed in east China’s Anhui Province. For more information, click here
Global miner Rio Tinto will sign an agreement with India based NMDC to prospect for iron ore. The chairman of the state-run Indian company said: We will sign a memorandum of understanding. It is for prospecting of mainly iron ore. They (Rio Tinto) will look to prospect in India. For full news, click here Visit [...]
Fortescue Metals is moving ahead to more than double its annual production capacity to 120 million tonnes of iron ore a year. For more information, click here
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