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.

Rio Tinto is disappointed with the Australian government's carbon tax proposal, warning it will inevitably hinder investment and jobs growth in Australia without reducing global carbon emissions. Rio Tinto believes the government's carbon tax will undermine Australia's international competitiveness and hurt the nation's export competing industries.

Rio Tinto has received an award for its significant work in building social capacity in communities surrounding its developing Bunder diamond project in India. The 2010-2011 Sitaram Rungta Social Awareness Award is conferred by the Federation of Indian

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

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.

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.

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.

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

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.

Reuters reported that an underwater bonanza of rare earth deposits discovered by Japanese scientists poses little threat to miners already developing major rare earth projects on solid ground. Analysts said that companies such as Molycorp, Lynas and

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

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