Posco, the world’s No 4 steelmaker, may cut output next year if market conditions deteriorate further and a weaker won currency depresses earnings in the coming months, the company said. For full story, click here
State-run mining giant NMDC Ltd has successfully negotiated a 102 per cent hike in export prices of iron ore from Japanese and South Korean steel mills, notwithstanding the global financial downturn. For full story, click here
State-run mining giant NMDC Ltd has successfully negotiated a 102 per cent hike in export prices of iron ore from Japanese and South Korean steel mills, notwithstanding the global financial downturn. For full story, click here
Kalinganagar Industries Association, the industry body representing 10 industrial units in the Kalinganagar area in Jajpur district has sought the immediate reduction of iron ore and chrome ore prices by the Orissa Mining Corporation to save these units from being closed down. For full story, click here
The EU thought to favour benchmark pricing as the fairest way to set iron-ore prices for steelmakers. For full story, click here
BHP Billiton abandoned its year-long pursuit of Rio Tinto Group, blaming the rout in commodities prices and the credit-market squeeze for derailing the biggest hostile offer. For full story, click here
State-run mining giant NMDC Ltd has successfully negotiated a 102 per cent hike in export prices of iron ore from Japanese and South Korean steel mills, notwithstanding the global financial downturn. For full story, click here
George Jones chairman of Gindalbie said that once the final payments are made early in 2009 from AnSteel, the JV company, Karara Mining Limited will have cash resources of approximately USD 450 million while Gindalbie itself will be debt free with uncommitted cash reserves of around USD 40 million. For full story, click here
The Orissa government’s PSU, Orissa Mining Corporation (OMC), said on Thursday said it has decided to reduce iron ore prices by 40 to 50 per cent following lack of demand. For full story, click here
World prices of minerals such as iron ore has started to show signs of stability after a recent slump, Brazil’s mining giant Vale said, adding that it was unclear if this was sustainable. For full story, click here
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