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 [...]
Additional channel sample results with respect to the St. Anthony’s Gold project has been announced by Pacific Iron Ore Corporation (TSX.V: POC). The project has the potential to host gold resources. These results confirm historic grades from the St. Anthony mine area and demonstrate widespread gold mineralization over a large area. In light of the [...]
Macarthur Minerals (CVE:MMS) reported today new drill results that significantly increase the extent of the magnatite iron ore mineralization at the Moonshite area of the Lake Giles project in Western Australia. The results include several intervals over 100m thick all with Davis Tube concentrations of over 64% iron. The company goes on to report that [...]
By Melissa Pistilli-Exclusive to Iron Investing News BHP Billiton’s hostile takeover bid for rival Rio Tinto finally came to an end last week. On November 25, BHP announced it was dropping its $66 billion bid for Rio due to the current global economic crisis and Rio’s $42.1 billion in debt. The takeover process had begun [...]
Profit declined by 24.7% at India-focused miner Vedanta Resources in the 6 months to 30 September and earnings fell 7%. The company posted record volumes in its iron ore business. Anil Agarwal, chairman of Vedanta Resources, said: In these challenging and uncertain markets, the group has produced a strong performance and we continue to make progress on our [...]
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