Posts by Steel Guru:

Nickel Asia H1 net income jumps 149pct YoY

Reuters reported that Nickel Asia Corporation, the Philippines' largest nickel producer, is partly owned by Japan's Sumitomo Metal Mining Co Limited. The Southeast Asian country was the world's third biggest producer of nickel ore last year, behind

Tanzania uranium mining to boost economy

The Tanzanian government has planned a USD 400 million uranium mining project by Australian based Mantra Resources in the Selous Game Reserve, a project that will greatly boost the country’s economy.

Mirabela Nickel Q2 2011 sales up by 88pct QoQ

Commodity Online reported that Mirabela Nickel Limited has sold 3909 tonnes of nickel in Q2 2011, up by 88% QoQ. Production at its Brazilian mine boosted by 20% to 3395 tonnes. However, cash costs also rose by 13% to USD 7.85 from USD 6.97 during the

Namibia chamber warns over new tax

Namibia's Chamber of Mines wants the government to reconsider plans to impose a further 17% tax on exploration and mining firms in the southern African producer of diamonds and uranium, saying it would discourage investors.

CIL may buy 30pct stake in Indonesian firm

Coal India Ltd is in advanced stages to acquire a 30% stake in an Indonesia coal firm. Mr NC Jha chairman of Coal India said that the company has sought the government's permission to go ahead with the deal, without revealing the target entity.

China target to break Big 3 grip on iron ore

China Daily cited an industry official said China the world largest steelmaker and iron ore consumer has set a target of dramatically increasing ore imports from Chinese invested resources in the steel industry 12th Five-Year Plan (2011-2015) Mr Li

UK coal inventories fell in March to almost three year low

UK coal inventories held by power companies fell in March to the lowest in almost three years after stocks were run down last year on weakening demand. According to figures from the Department of Energy & Climate Change, inventories were 9.6 million

Namibia proposes mining tax hike

Nambia?s ministry of finance said that Nambia plans to raise its mining tax by 17% to boost revenue, but the hike will not apply to the diamond sector. As per report the ministry of finance wants the mining tax to be raised to 44% from 37.5%.