Baffinland Iron Mines (TSE:BIM) announced today that they have signed a memorandum of understanding with the Qikiqtani Inuit Association. This is an early step in negotiating a Inuit Impact and Benefits Agreement covering employment, training, education, contracting, workplace conditions and other issues concerning the Inuit community in the area of the Mary River Project. Gordon McCreary, [...]
Watm, Manitowoc dealer for Western Australia is reported to have delivered a Grove GMK7450 all-terrain crane to mining giant BHP Billiton Iron Ore. Stephen Lazenby, sales manager for WATM, said: The crew that were running the GMK7450 were very pleased with how well it performed. For full story, click here
With the aim to promote new technology in the sponge iron plants to reduce carbon emission and ensure optimum use of the resources in the production process, the Orissa government announced its plans to promote a sponge iron cluster at Bonai in Sundergarh district. For full story, clcik here
Palladon Ventures reported that completion of Phase 1 of 3-D modeling of high resolution aeromagnetic data acquired over its Iron Mountain property in September, 2008. For full story, click here
Consolidated Thompson Iron Mines Ltd announced that Chinese steel maker Wuhan Iron and Steel Corp has agreed to make a $240 million in the Canadian mining company in return for a 19.9 percent stake in the company. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News It was bound to happen. Brazilian stocks dropped for the first time in three days, paring their best monthly gain in a year, on concern that the rebound in commodity prices may not be sustainable as the global economic slowdown deepens. Cia Vale do Rio Doce, (NYSE:RIO) [...]
Iron ore, the prime raw material for making steel may have to see a further dip in prices. While the steel demand has declined heavily, iron ore prices, which more than doubled last year, remain vulnerable to a decline. For full story, click here
Brillion Iron Works is laying off 80 workers and furloughing others for two weeks. For full story, click here
Citic Pacific Chairman Larry Yung reported that west Australian iron ore project involved 3bln AUD foreign exchange contract and 1.7bln AUD time limit had became four years from two year in order to reduce the risk. For full story, click here
The city of Rizhao, in the eastern province of Shandong reported that it has planned to set up China’s first iron ore trading centre to take advantage of Rizhao Port, the country’s top iron ore port. For full story, click here
Tuesday, March 31, 2009