Strike Resources acquisition boosts stake in Peru iron ore projects

Strike Resources has executed an agreement with Iron Associates Corporation to purchase an additional 12% interest in Apurimac Ferrum SA from IAC increasing its stake in AF to 56%. The strategic acquisition was made for a consideration of USD 1.2 million

Steel Guru | July 3, 2011 | 5:24 pm

New survivable tracking system for foal mines receives MSHA approval

Kutta Radios Inc announced that it received Part 23 MSHA certification for a new tracking system that revolutionizes tracking before, during, and after mine emergencies. The Kutta tracking system turns the metallic infrastructure in an underground mine into a large antenna that carries the tracking signal for miles throughout the mine. Image from Kutta Radios is the the DRUM® 100P Portable Medium Frequency Radio (DRUM® 100P).

Steel Guru | July 3, 2011 | 5:24 pm

China top power firms keep racking up loss on thermal power – CEC

Reuters quoted the China Electricity Council said China top five major state-owned power generating groups continued to rack up losses on their thermal power business in May despite the government raising power prices in April. The council said mainly

Steel Guru | July 3, 2011 | 5:24 pm

Ms Bligh seeks to build on exemptions for coal seam sector

It is reported that Queensland is attempting to quarantine its boom coal-seam gas industry from the Gillard government's carbon tax after successfully gaining an exemption from the mineral resources rent tax. The Bligh government is arguing for further

Steel Guru | July 3, 2011 | 5:24 pm

Huaye Real Estate forms mining subsidiary

It is reported that Beijing Huaye Real Estate will establish a wholly-owned subsidiary, Huaxingye Mining Investment with registered capital of CNY 20 million. As per report, the subsidiary will specialize in mining investment, resources exploration and

Steel Guru | July 3, 2011 | 5:24 pm

Nippon Steel not in race for Sundance iron ore project – Report

Reuters quoted a company source with direct knowledge of the matter said Nippon Steel Corp, the world No 4 steelmaker is not in talks with Australia Sundance Resources on its USD 4.6 billion iron ore project in West Africa. The source said "We are not in

Steel Guru | July 3, 2011 | 5:24 pm

Civil society opposed sale of Nigeria Iron Ore Mining Company

It is reported that a Kogi State based group, Coalition of Civil Society Groups will oppose the sale of Nigeria Iron Ore Mining Company in Itakpe, Kogi State to any buyer that is not interested in buying the Ajaokuta Steel Company also in the state. The

Steel Guru | July 3, 2011 | 5:24 pm

Gindalbie Metals joins cost blowouts list

It is reported that Gindalbie Metals has joined a growing list of West Australian miners confirming major cost blowouts on significant projects as it flags a 62% jump in operating costs. The miner which is developing the Karara iron ore project with

Steel Guru | July 3, 2011 | 5:24 pm

Turkey steel import value hits USD 2 billion in May

According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute and the Turkish Undersecretariat of Customs, in May this year Turkey's iron and steel imports totaled USD 1.58 billion decreasing by 7% YoY and up 2.18%

Steel Guru | July 3, 2011 | 4:53 pm

Rio Tinto Bougainville Copper responds to accusations

Sir Michael Somare PM of Papua New Guinea signed an affidavit accusing mining giant Rio Tinto of driving the war on Bougainville. Rio Tinto's subsidiary, Bougainville Copper owns the Panguna copper mine which sparked the civil war on the island. The

Steel Guru | June 28, 2011 | 2:31 pm

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