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

Shenhua Energy H1 coal sales up by 39pct YoY

It is reported that China Shenhua Energy, the largest coal producer in China recorded a 39.2%YoY rise in coal sales to 191 million tonnes in the first half. During the same period, coal output increased 28.6%YoY to 140 million tonnes

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

Russia ferrous product exports decline in Jan to May

According to the data for the first five months of the current year from the Federal Customs Service, Russia ferrous product exports decreased by 16%YoY to 13.950 million tonnes worth a total of USD 8.538 billion.

Steel Guru | July 23, 2011 | 11:46 am

Belarus increases metallurgical production by 15pct in H1 2011

According to data released by the National Statistical Committee of the Republic of Belarus, in the first half of the current year Belarus increased metallurgical production by 15.2%YoY. In particular, crude steel production increased by 5.4% to 1.395

Steel Guru | July 23, 2011 | 11:46 am

Indian iron ore mining mess – JSW Steel may cut output due to ore shortage

BS reported that JSW Steel is likely to take production cuts at its 10 million tonne per annum steel plant at Toranagal in Bellary district of Karnataka owing to severe shortage of iron ore.

Steel Guru | July 20, 2011 | 5:10 am

Toledo accepts offer from Atlas for early settlement of a loan

Toledo Mining Corporation announces that it has accepted an offer from Atlas Consolidated Mining and Development Corporation for early settlement of a loan advanced by Toledo to Atlas. Under the loan agreement dated April 2006.

Steel Guru | July 16, 2011 | 11:39 pm

Peabody energy and ArcelorMittal to proceed with due diligence for Macarthur Coal

Peabody Energy and ArcelorMittal note the announcement by Macarthur Coal Ltd which states that the parties have agreed to a process for due diligence.

Steel Guru | July 15, 2011 | 11:32 am

Fitch sees global steel demand and output growth slowing down in H2

Fitch Ratings said in a statement that global growth in steel demand and production is expected to slow during H2 2011 as developing nations fight inflation and developed countries tackle fiscal instability.

Steel Guru | July 15, 2011 | 4:37 am

Chile copper mines brace for more bad weather

Reuters reported that two of the world's top copper mines braced for more bad weather in Chile's copper rich north, halting some operations or working under a contingency plan. Ms Bernardita Fernandez the mine operator spokeswoman said the world's No 3

Steel Guru | July 11, 2011 | 2:40 pm

Sumitomo Metal Mining zinc and lead operations at Harima smelter set for major revamp

Sumitomo Metal Mining Company Limited in a move designed to enhance the company’s competitive position in zinc smelting operations has decided to terminate processing of zinc and lead concentrates which are imported into Japan as raw materials and

Steel Guru | July 11, 2011 | 2:40 pm

Tiger Resources updates production on Kipoi Copper Project

Tiger Resources Limited announced a production update from its high grade Kipoi Copper Project in the Democratic Republic of Congo. Tiger?s first stage of production which utilizes a heavy media separation plant is tracking well to reach its targeted

Steel Guru | July 11, 2011 | 2:40 pm

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