European regulators told BHP Billiton Ltd. that the company’s push to change the way prices are set for iron ore is one of the issues that may jeopardize its $58 billion hostile offer for Rio Tinto. For full story, click here
George Jones chairman of Gindalbie said that once the final payments are made early in 2009 from AnSteel, the JV company, Karara Mining Limited will have cash resources of approximately USD 450 million while Gindalbie itself will be debt free with uncommitted cash reserves of around USD 40 million. For full story, click here
Legend Mining Limited has received encouraging iron results from rockchip sampling over the prospective Cleaverville formation within its Pilbara Project in Western Australia. For full story, click here
The Orissa government’s PSU, Orissa Mining Corporation (OMC), said on Thursday said it has decided to reduce iron ore prices by 40 to 50 per cent following lack of demand. For full story, click here
Economic slowdown has gripped the mining sector with iron ore mining firms closing down operations in 20 mines For full story, click here
By Melissa Pistilli-Exclusive to Iron Investing News Customers of the world’s three largest iron ore producers have asked for shipment deferrals leading the big miners to consider production cutbacks. Vale [NYSE: RIO], the world leader, has cut output by 10 per cent and maintains it will cooperate with customers needs. Rio Tinto [RTP] has also [...]
US mining companies Cliffs Natural Resources and Alpha Natural Resources have jointly announced the termination of their merger agreement. For full story, click here
The four-year long iron ore mining boom in Bellary is over. The collapse of its main market, China, threatens the livelihoods of more than two lakh workers. For full story, click here
Labrador Iron Mines Holdings Limited said that it has filed its unaudited Interim Consolidated Financial Statements and Management’s Discussion and Analysis for the half-year ended September 30, 2008, For full story, click here
World prices of minerals such as iron ore has started to show signs of stability after a recent slump, Brazil’s mining giant Vale said, adding that it was unclear if this was sustainable. For full story, click here
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