Vale’s iron ore output just hit another record

Seven days after putting Regent Pacific on notice that it should not withdraw its takeover offer, Regent informed BC Iron yesterday that it had entered into a binding mandate letter with Standard Chartered Bank of Hong Kong and Westpac Banking Corporation for $US155 million debt finance. BC Iron said Regent has now advised it will change its recommendation to its shareholders to vote in favour of the acquisition of all BC Iron shares.

Consolidated Thompson Iron Mines announced that Cliffs Natural Resources has received approval under the Investment Canada Act for completion of the plan of arrangement pursuant to which Cliffs will acquire all the outstanding common shares of CLM. The closing of the Arrangement remains subject to certain other customary conditions, including obtaining approval of the MOFCOM filing with the Anti-Monopoly Bureau of the Ministry of Commerce of the People's Republic of China.

Australian mining giant Rio Tinto has received the green signal to undertake mining activities in India, with the Orissa government granting a proposal for a fresh agreement on Thursday, April 7. State-run Orissa Minerals Development Company (OMDC), a part of the Bird Group of Companies under the Indian government's ministry of steel had been in discussions with the world's biggest mining company, Rio Tinto, for a joint venture in the state for some time now.

Nunavut is attracting the attention of the world's miners like never before, says Scotiabank commodities analyst Patricia Mohr, speaking at a mining summit in the mineral-rich Canadian northern territory. Nunatsiaq Online reports: Pushed by the developing world’s growing hunger for consumer items, civil unrest in many countries, and “random” events like the recent tsunami, earthquake and nuclear power plant disaster in Japan, mining companies around the world are eying Nunavut with far more interest than before.

Hong Kong-based Regent Pacific Group Ltd said it would consider reinstating debt funding for its original bid for Australian iron ore producer BC Iron Ltd. This move follows a decision by Australia's Takeovers Panel declaring a case of "unacceptable circumstances" for Regent's "purported termination" of its takeover scheme with BC Iron.

Labrador Iron Mines Holdings Limited (TSX:LIM) announced that in connection with its previously announced public offering on April 4, 2011, it has entered into an agreement with a syndicate of underwriters to sell 8 million common shares of the company at C$12.50 per common share and 666,700 flow-through shares at C$15.00 per share for aggregate gross proceeds of C$110,000,500.

The Brazilian group, which produced 311m tonnes last year has previously said it is planning to raise its annual output to 522m […]

The former Vale executive, who has previously led the group’s Canadian nickel operations, will take up the post on May 22 and […]

Brazil's government is considering creating an iron ore export tax meant to spur investment in local steel production, a leading Brazilian newspaper reported on Friday. Advisors to President Dilma Rousseff have asked the finance ministry to study a measure that would tax iron ore exports and exempt steel exports, the newspaper O Estado de S.Paulo reported on Friday, citing a source in the presidential palace.