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%.

Steel Guru | July 26, 2011 | 9:04 am

AusNiCo intersects nickel from drilling at Pembroke prospect

AusNiCo has intersected 181 meters at 0.25% nickel from drilling at the Pembroke prospect, supporting extensions to its large low grade nickel sulphide mineralized system.

Steel Guru | July 24, 2011 | 2:51 pm

Qiao Xing Universal files Annual Report on Form 20-F for FY 10

Qiao Xing Universal Resources Inc, a leading company in the molybdenum mining business as well as a company with substantial assets in the resources industry, announced that the company has filed its Annual Report on Form 20-F for the fiscal year ended

Steel Guru | July 24, 2011 | 2:51 pm

Chinese manganese metal spreads over specified markets in Europe and Asia

TEX reported that while the central government of China already decided to impose 20% of duty on export of electrolytic manganese metal from China and has been enforcing this imposition of the export duty from January 2008, the electrolytic manganese

Steel Guru | July 24, 2011 | 2:51 pm

Synalloy Corp announces Q2 2011 results

Synalloy Corporation, a producer of stainless steel pipe, fabricator of stainless and carbon steel piping systems, and producer of specialty chemicals, announces that the second quarter of 2011 produced 59% higher net earnings of USD 1,709,000 on a 14%

Steel Guru | July 24, 2011 | 2:51 pm

Macroeconomic indicators – Baltic index continues losing streak

Reuters reported that the Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, remained negative for the ninth straight session as trading stayed subdued and a West Australia to China benchmark weakened.

Steel Guru | July 24, 2011 | 9:33 am

Ecuador to offer new mining concessions in Q4 2011

Ecuador's energy and mining minister Mr Wilson Pastor said that Ecuador will offer new mining concessions in 10 areas in the fourth quarter of this year.

Steel Guru | July 24, 2011 | 9:33 am

Philippines miners opposed ban on ore exports

Manila Bulletin reported that the mining industry has urged government to encourage processing of mineral ore into high value added products by granting incentives but they opposed a plan to prohibit direct shipping of ore for exports.

Steel Guru | July 24, 2011 | 9:33 am

Germany to fund new coal plants with climate change fund cash

It is reported that the German government wants to encourage the construction of new coal and gas power plants with millions of euros from a fund for promoting clean energy and combating climate change. As per report, the plan has come under stiff

Steel Guru | July 24, 2011 | 9:33 am

SKF announces new mine conveyor monitoring solution

Engineering company SKF has announced the availability of a new SKF Idler Sound Monitor Kit. According to SKF, this is an easy to use, rugged and handheld monitoring device for early detection of faults in conveyor belt idlers in mines.

Steel Guru | July 24, 2011 | 9:33 am

Goldman Sachs prepares to trade physical iron ore

Reuters reported that Goldman Sachs has started to trade iron ore swaps earlier this year and is preparing to enter the physical iron ore market. Growing liquidity levels in the iron ore swaps market attracted many banks to invest in it and some have also decided to set up physical iron ore desks to strengthen their positions.

Steel Guru | July 23, 2011 | 10:32 pm

Grande Cache Coal Corporation provides operational update

Grande Cache Coal Corporation announced that it has received the amended mine permit and a new mine licence from the Alberta Energy and Resource Conservation Board necessary to commence development of its new No 12 South B2 underground operation.

Steel Guru | July 23, 2011 | 10:32 pm

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