September 7, 2011

Fortescue reports 1.54Bn ton reserve at Chichester Hub

PERTH (miningweekly.com) Iron-ore miner Fortescue Metals has reported that current reserves at its Chichester Hub operation, in Western Australia, suggested a 19-year life of mine, based on a production rate…

September 7, 2011

Mining deals drop off a cliff in July and August as China retreats to sidelines

The deal-making frenzy in the global mining sector during the first half of the year was followed by a dramatic drop in activity in July and August, according to a…

September 7, 2011

Venezuela seeks to increase iron output with help from China

Venezuela hopes to improve its production and transport of iron after signing three agreements with Chinese companies, state media reported Tuesday. According to the Venezuelan News Agency, the contracts include…

September 6, 2011

India’s SAIL-led consortium bids for Afghan iron mines

A consortium of Indian steel and mining firms led by the Steel Authority of India Limited (SAIL) has bid for four blocks of mines in Afghanistan, SAIL said in a…

September 6, 2011

Vale carriers up for sale – analyst blog

Brazilian Miner Vale S.A (VALE) has planned to sell or lease its planned fleet of giant bulk carriers and is in talks with the Chinese and other ship owners on…

September 6, 2011

77 Chinese steel makers profit CNY 8 billion in July

According to China Iron and Steel Industry Association, some 77 major steel makers across mainland China earned a total profit of CNY 8.59 billion in July drop of 35.45%MoM. Profits…

September 6, 2011

GMS weekly report on China ship breaking industry for Week 35

The stability from the Chinese market has more or less become a hallmark of its identity as levels for ships literally appear to be etched into the ongoing fixtures. Most…

September 6, 2011

Pellet plants must for captive iron ore mines in Jharkhand

ET reported that Jharkhand has emerged as the first state to make it mandatory for companies with captive iron ore mines to set up pellet plants to utilize their increasing…

September 6, 2011

Panzhihua Steel Baima Mine posts record iron ore concentrate output in August

It is reported that In August, Sichuan Province based Chinese steel producer Panzhihua Steel Baima Mine produced a record high iron ore concentrate output of 229,370 tonnes. During the first…

September 6, 2011

Chinese under-reporting persists in 2011 but motives differ

The Chinese steel industry is struggling to meet soaring demand from infrastructure and social housing projects, and is turning to high cost, previously shuttered, steel mills to make up the…