Bellzone Mining (AIM: BZM) an iron-ore exploration and development company, has announced that the infrastructure required for its Kalia project, in Guinea will be funded by the China International Fund (CIF). Bellzone MD Nik Zuks is quoted saying: “The $2,7-billion infrastructure project would form the first leg of developing a multiuser railway and port that [...]
Continue reading "CIF Funds Bellzone’s Kalia Project Infrastracture"
Friday, May 21, 2010
Sphere Minerals Limited: ASX:SPH, a West African focused Iron ore company, has announced that it has agreed to place 20,654,000 shares at A$1.60. This share will raise gross proceeds of to a total of $33,046,400. Alexander Burns, Managing Director of Sphere Minerals Limited is quoted saying: “The Placement was jointly managed by GMP Securities Europe [...]
Continue reading "Sphere Raises $33M for Askaf Project"
Thursday, May 13, 2010
A private Isle of Man company, Core Mining, based in Australia has announced the finalized agreement with Russian steelmaker Severstal. Core Mining will be giving 16.5% of Core and in return Severstal will invest a total of USD 55m into Core Mining until December of 2012. The UN was quoted as saying: “Guinea’s interim president [...]
Continue reading "Iron Ore Investment Rising"
Monday, May 10, 2010
Due to a new pricing scheme for iron ore, the steel industry may be facing higher costs and will lose competitiveness in the market as compared with other materials according to the head of the World Steel Organisation said on Monday. Paolo Rocca, chairman of the steel body, “We will have no alternative but to [...]
Continue reading "Steel Body Concern Over Iron Ore New Pricing"
Friday, May 7, 2010
A $US400 million project will be set up by RIO Tinto to expand the iron ore program in Canada, while the company reviews its Australian oeprations in the wake of the Rudd government’s resources super-profit tax. Sam Walsh, chief executive iron ore of Rio Tinto, mentioned that their plan to restart the program expansion is [...]
Continue reading "Rio Tinto to Restart Iron Ore Program in Canada"
Monday, May 3, 2010
Iron ore demand is increasing among Chinese steel makers and the CISA lead boycott is simply not credible. Iron mining companies recognize this and will not relent from their position, which grows stronger every day that global demand recovers and ore prices rise.
Continue reading "Chinese Iron Ore Boycott Unsustainable"
Wednesday, October 21, 2009
By Kishori Krishnan Exclusive To Iron Investing News China, the world’s biggest steel producer, is flexing its muscles again. The country is eager to replace the benchmark arrangement price long used by the industry for iron ore imports with one that will give it a bigger say. Last week’s major meeting between the world’s iron [...]
Continue reading "China & Its Shenanigans"
Monday, October 5, 2009
By Kishori Krishnan Exclusive To Iron Investing News Iron clad deals are in play. Chinese steel and iron ore group Baosteel has proposed to pay US$ 1.6 billion for a 30 per cent stake in Anglo American‘s (AAL.L) huge Minas Rio iron ore mine in Brazil. Traders maintain that any deal with Baosteel could help [...]
Continue reading "Baosteel To Edge Out Xstrata in Anglo American?"
Tuesday, September 29, 2009
A subsidiary of Canada Chrome Corporation, KWG Resources Inc (TSXV: KWG), has appointed a railroad engineering firm for a new railroad link. The firm has completed several projects with KWG’s principal shareholder Cliffs Natural Resources (NYSE: CLF). The North American business unit of Cliffs Natural is comprised of six iron ore mines owned or managed [...]
Continue reading "KWG Resources appoints engineering firm"
Tuesday, September 29, 2009
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 [...]
Continue reading "WISCO acquires Consolidated Thompson shares"
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Tuesday, May 25, 2010