SAIL eyes Mongolia’s iron ore, coal resources
Indian steelmakers have set their sights on mineral rich Mongolia, chasing the huge mineral wealth that’s helping the once pastoral landlocked economy register one of the fastest economic growth rates in the world.
Rio Tinto backs iron ore in dicey global environment
Rio Tinto sounded a cautious note on Thursday over global uncertainties and fended off shareholder calls to return cash, but the world’s No.3 miner said it was sticking to plans to spend billions developing new copper and iron ore mines.
Coal Seen Rebounding as China Sets Steel Output Record
Coking coal prices are set to rebound as early as July from four straight quarterly declines as China and India seek raw material overseas to fire new steel production in the world’s fastest-growing major economies.
Steelmakers Welcome Falling Coking Coal Price Trend
Pressure may be easing for steelmakers and with it the prospects, in some regions at least, of slightly improved margins. Coking coal, a key raw steelmaking ingredient and recently one of the commodity markets’ hot darlings, has been falling in price since the summer. As Australia’s spot price has fallen some 26 percent since the [...]
China launches its first physical iron-ore trading platform
BEIJING – China launched its first physical iron ore trading platform on Monday in the latest move by the world’s biggest iron-ore consumer to strengthen its pricing power over a raw material long dominated by giant foreign suppliers.
Iron ore fall raises doubts on Australia mine tax plan
Australia’s politically charged mining profits tax could raise less of the initial A$11 billion Prime Minister Julia Gillard is promising if iron ore prices return to November levels, accountants BDO warned in a senate submission.
China iron-ore prices set for 20% decline in 2011
Iron ore prices in China, the world’s biggest market, are headed for a 20 percent decline this year because of a government-mandated credit crunch as well as uncertainties about steel demand at home and overseas, and few analysts see them recovering soon.
FeOre aims for first rail haulage of Mongolian iron ore within two years
FeOre, a Mongolia focused iron ore explorer, has been admitted to the ASX following a successful initial public offer of up to AUD 140 million shares at AUD 0.25 to raise up to AUD 35 million.
Commodities Giant Trafigura Shopping for Coal and Iron Projects in Mongolia
In 2011, Mongolia eclipsed Australia as the main exporter of coking coal to China, which became a net importer of the raw material in 2009. Over the next 20 to 30 years, domestic coal production in China is expected to end as mineable resources disappear while demand continues to rise, placing neighboring resource-rich Mongolia in [...]
China iron ore demand to reach 1.13 billion tons by 2015
China Knowledge reports according to China’s new steel industry blueprint for its 12th 5-year Plan estimates it could go as high as 1.13 billion tonnes over the next three years:
Report says half of China iron ore miners stop producing because of cheap imports
Interfax-China reported that about half of China iron ore miners – mainly small and medium-sized firms – have suspended production in the face of dwindling profit margins due to the low price of imported ore.
Rio Tinto chief: one more year of $120-plus iron ore – then it’s over
Reuters reports Rio Tinto chief executive Tom Albanese said an “aggressive” stance by unions, high labour costs and a potential downturn in world prices threaten plans for vast expansion of its key Australia iron ore operations. Albanese said “assumptions that the floor price would not go much below $120 a tonne might be valid next [...]
China eyes bigger role in iron ore pricing and hedging
China plans to launch an iron ore swaps business and a physical iron ore trading platform are a clear sign of its desire to take on a bigger role in pricing its biggest import commodity and protect itself against increasing volatility. A 31% slump in prices of the steelmaking raw material in October forced miners [...]
Haranga Resources strikes high grade iron in Mongolia’s premier development region
Haranga Resources (ASX: HAR) is having some exploration success in Mongolia, with the company delivering a very promising set of drilling results from a project which is strategically located in the heart of the country’s premier iron ore development region.
Iron ore prices to cool off as China set to raise output
Iron ore prices, which have been steadily climbing to touch $200 per tonne, may cool off in the long run as China is all set to increase iron ore production. The country has just identified 4-5 billion tonne iron ore mines near Mongolia
Russian steelmaker buys Australian iron ore prospect for A$554 million
Investors are wondering why Russian steel-maker Magnitogorsk Iron and Steel Works is buying Flinders Mines (ASX:FMS) for A$554 million. Flinder’s main asset is the Pilbara iron ore project, a 917.3Mt JORC-compliant resource located in Western Australia. MMK is Russia’s third largest steel company. Last year it had revenue of $7.7 billion and net income of [...]
Micromine software solution installed at Tayan Nuur
Mining software and solutions provider Micromine has been contracted by Altain Khuder LLC to supply and install its mine control and management reporting solution, Pitram, at the Tayan Nuur iron ore mine in Mongolia. It is Micromine’s first Pitram sale in Mongolia, and as such the group sees this as a significant milestone. Pitram is [...]
MONGOLIA – JV for coal and iron ore projects
A new joint venture has been formed between one of the world’s top oil and commodity traders and one of Mongolia’s largest private natural resources investors. 1 The 50:50 JV between Trafigura Beheer BV and Origo Partners will develop coal and iron ore deposits in Mongolia with significant export potential.
Dumas and Monnis Form Strategic Alliance for Mongolian Underground Mining
Dumas Contracting Ltd. (“Dumas”) and Monnis International LLC of Mongolia (“Monnis”), a Mongolian company with leading positions in Mongolian construction, mining, geology, aviation and international freight forwarding, have entered into a strategic alliance to jointly undertake underground mining projects in Mongolia. The strategic alliance will provide Mongolian-based clients with unparalleled service in underground mining, combining [...]
China iron ore imports fell to 8-month low in October despite $60 price drop
The China General Administration of Customs reported that the country’s iron ore and concentrates imports were 49.94 million tonnes in October, down 17.5% from 60.57 million tonnes in September 2011. Over the first 10 months iron ore imports still show an increase over last year rising 10.8% to 557.93 million tonnes the data showed.
Haranga Resources hikes stake in Selenge Iron Ore Project to 80pct
Haranga Resources Limited announced that the company has acquired a further 20% interest in the joint venture company that holds the five exploration licenses comprising the Selenge Iron Ore Project.
Haranga Resources boosts stake in Mongolian Iron Ore Project to 80%
Haranga Resources (ASX: HAR) has acquired a further 20% interest in the joint venture company that holds the five exploration licences comprising the Selenge Iron Ore Project in Mongolia. Haranga Resources now holds an 80% interest and maintains full operational and management control of the joint venture. Significant widths of iron mineralisation have been intersected [...]
Trafigura to Boost Mongolia Metal Trading as ‘Giant Awakens’
Trafigura Beheer BV, the world’s second-largest independent trader of non-ferrous metals, plans to expand in Mongolia to deliver more iron ore, coal and copper to the Chinese market. It secured its first iron ore and coal supply agreements in the country in the past few months, Mikhail Zeldovich, head of Trafigura’s Russia and Mongolia unit, [...]
REFILE-UPDATE 1-Trafigura, Origo form coal/iron Mongolia JV
Trafigura, one of the world’s top commodity traders, and Origo Partners Plc , a private equity investor in Mongolian natural resources, have formed a 50:50 joint venture to develop Mongolian coal and iron ore deposits for export. Trafigura-Origo MGL will invest in a number of Mongolian iron ore and high-quality coking coal exploration projects and [...]
Trafigura, Origo form coal/iron ore Mongolia j.v
Trafigura, one of the world’s top oil and commodity traders and Origo Partners Plc, one of the largest private equity investors in Mongolian natural resources have formed a 50:50 joint venture to develop Mongolian coal and iron ore deposits with significant export potential. Trafigura-Origo MGL will invest in a number of already identified Mongolian iron [...]
China pushing for iron-ore pricing changes – exec
China, the world’s biggest consumer of iron ore, is still hopeful that major foreign suppliers will change the way they set their prices, Zhu Jimin, chairman of the Shougang Group, one of the country’s biggest steel producers, said on Sunday. “The miners have expressed a positive attitude (to changing the system) and Chinese steel enterprises [...]
Десять факторов, наиболее актуальных для развития мирового металлургического комплекса в 2012 году. Недостаток квалифицированных кадров, оптимизация затрат, перегруженность железных дорог, волатильность курсов валют и управление рисками будут факторами давления и на российскую металлургию.
More bad news for iron ore, coking coal prices: world’s largest steelmaker profits halve, sees worse ahead
ZeeNews report the world’s largest steel-maker ArcelorMittal on Thursday reported a dip of over 51% in net income to $659 million for the quarter ended September 30, 2011, due to a fall in demand. The Indian giant also said it will face increasing pricing and volume pressures in the final quarter and is idling production [...]