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 [...]
By Kishori Krishnan Exclusive To Iron Investing News Rio Tinto has completed the sale of its Corumba iron ore mine in Brazil to mining giant Vale SA for a cash consideration of $750 million. The Corumba sale, which was agreed in January, includes a potash project in Argentina and exploration assets in Canada. The Corumba [...]
Vedanta Resources Chairman Anil Agarwal declared that the mining major will be looking at making investment worth over USD 2 billion in purchasing copper and iron ore assets. For full story, click here
WA Business News declared that the state’s iron ore juniors are predicted to reap the rewards from the collapse of the Rio Tinto and Chinalco deal, with Chinese investment likely to flow to emerging iron ore producers. For full story, click here
Russia reported that it is continuing to trade in the international market on research and development investment from the Soviet-era and faces stooping to the level of iron supplier if gaps in high-technology capabilities are not filled. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News The alarm bells have started ringing. On the sidelines of a mining conference, Rio Tinto said iron ore prices are certain to fall in 2009, the first decline in seven years, but not by the 50 per cent suggested by some steel makers. On the spot market, [...]
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) [...]
The gonernment mining department DNPM reported that Brazilian iron ore output could fall 30 percent and investment in the country’s mining sector could plunge even more in 2009. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News Ahead of contract talks, iron-ore miners are seeking a price rise. On the horizon is a firmer demand in China, which has ensured that despite concerns about the length and depth of the global recession, iron ore miners are pushing for as much as a 5 per [...]
Steel Authority of India Limited has lined up an investment of INR 4,000 crore for implementation of its various mining projects in Orissa. For full story, click here
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