Brazil’s Vale to invest record $24 bln in 2011
Reuters.com reports that Vale (NYSE:VALE) intends to invest $24bln in 2011 in an effort to diversify towards pricier metals.
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CIF Funds Bellzone’s Kalia Project Infrastracture
Tuesday, May 25, 2010
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 [...]
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Sphere Raises $33M for Askaf Project
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 [...]
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Iron Ore Price Hit Rock Bottom In China
Friday, May 14, 2010
On Thursday, iron ore prices hit rock bottom due to slow purchases by traders after Beijing, China has resolved to heal the Chinese economy, which means decrease in demand for iron (Fe) in producing steel. London Commodity Brokers is quoted in a report: “There is no sign of a pick-up in the physical market.” Click [...]
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Iron Ore Investment Rising
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 [...]
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BSG Resources Buy OUt of $2.5 Billion by Vale
Wednesday, May 12, 2010
Vale and BSG Resources, two of the world’s top iron-ore miner has decided to finalize the contract. Giant Brazilian miner Vale (VALE.N)(VALE5.SA) has bought the 51 percent stake in BSG Resources. The buy out of the iron ore mining company in Guinea was priced at $2.5 billion. Vale is quoted as saying: “The process followed [...]
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Iron Ore Project Intersection by Richmond Mining
Tuesday, May 11, 2010
Richmond Mining (ASX: RHM) which logged the first hole between historical US Steel holes BV 35 and BV 40, has reported that an intersection of 130m of semi-massive and disseminated magnetite mineralisation took place at its Buena Vista iron ore project, 150km northeast of Reno, Nevada, USA. The article is quoted as saying: Seven of [...]
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Steel Body Concern Over Iron Ore New Pricing
Monday, May 10, 2010
Due to a new pricing scheme for iron ore, the steel industry may be facing higher costs and will lose competitiveness in the market as compared with other materials according to the head of the World Steel Organisation said on Monday. Paolo Rocca, chairman of the steel body, “We will have no alternative but to [...]
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WISCO acquires Consolidated Thompson shares
Tuesday, September 29, 2009
Minerals Corporation Limited of Wuhan Iron and Steel (Group) (WISCO) has acquired 65 million common shares of Consolidated Thompson Iron Mines Limited (TSX: CLM). The shares were acquired by way of private placement for an aggregate subscription price of C$ 28,748,227.20 or C$ 4.40 per share. The shares were acquired for investment purposes only. For [...]
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Pacific Iron Ore provides update
Tuesday, September 29, 2009
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 [...]
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- Cuervo Resources Inc.- Iron Ore Exploration in the Peruvian Andes
- Zone Resources Inc. – Developing the Girard Iron Property
Asides
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Thursday, October 28, 2010