Minerals Corporation Limited of Wuhan Iron and Steel (Group) (WISCO) has acquired 65 million common shares of Consolidated Thompson Iron Mines Limited (TSX: CLM). The shares were acquired by way of private placement for an aggregate subscription price of C$ 28,748,227.20 or C$ 4.40 per share. The shares were acquired for investment purposes only. For [...]
Wuhan Steel has inked framework agreement with Australian WPG on April 29th to invest AUD 45 million in earning 50% interest of the latter’s deposit in Hawk Nest, the middle parts of South Australia. For full story, click here
By Kishori Krishnan Exclusive to Iron Investing News The talks haven’t borne fruit, as yet. Even as news comes filtering in that China has landed a 40 per cent price cut with the Top Three ore miners, final iron ore talks for fiscal 2009/2010 have yet to see the light of day. Shan Shanghua, secretary-general [...]
By Kishori Krishnan Exclusive to Iron Investing News Rio Tinto Ltd. (LON:RIO) gave a gloomy assessment of global commodity markets Tuesday, saying there is unlikely to be much of a rebound this year and warning the downturn will continue to hit its profits. The downbeat outlook reinforces the company’s message that it needs to proceed [...]
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By Melissa Pistilli – Exclusive to Iron Investing News The world’s largest iron-ore producer and exporter Companhia Vale do Rio Doce is now in the initial phase of negotiations with its Asian clients to raise prices. Vale has stressed that there was no guarantee that negotiations would conclude on a successful note. The proposed increase [...]
London-listed explorer African Minerals reported on Monday that it has agreed to develop its Marampa iron-ore project, in Sierra Leone, with Australian explorer Cape Lambert Iron Ore. Executive chairperson Frank Timis said: We look forward to having Cape Lambert as an investor in the Marampa project. They bring with them substantial experience and expertise in the [...]
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