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India's Sesa Goa to Buy Liberian Iron Ore Mining Company

Sesa Goa, India's largest producer and exporter of iron ore in the private sector, is to acquire 51% stake in Western Cluster Ltd for a cash deal worth $90 million.

From Sesa Goa Iron Ore 8 Aug 2011

Rio Tinto Unveils Bumper Profits

Mining giant Rio Tinto has a ‘bumper’ $7.6 billion first half net profit. The record profit is linked to the steadily rising prices of commodities which are being driven by demand from Asian nations.

From Rio Tinto plc 7 Aug 2011

India's Zamin Ferrous Pulls Back from Minera Aratiri Project in Uruguay

Indian iron-ore mining group Zamin Ferrous Resources was to develop the Minera Aratiri project in Uruguay, but has now downgraded the project on its international priority list from first to fourth position. The $1 billion that was slated by the company for the project is now going to be put to better use in other ongoing projects.

4 Aug 2011

Anglo Pacific Acquires Iron Ore Royalty via Greenland Investment

The Anglo Pacific Group has acquired a 1% gross revenue iron ore royalty from London Mining. The royalty will be earned from the Isua iron ore project located in Greenland after a $30 million investment from Anglo Pacific. The project is slated for production in 2015.

From London Mining Plc 4 Aug 2011

Fancamp Exploration Elated With Metallurgy Test Results of Magpie Mines

Fancamp Exploration has proclaimed that Magpie Mines has obtained the final report and the Phase I metallurgical test work results, which was conducted by COREM, Quebec.

From Fancamp Exploration Ltd 4 Aug 2011

Analysts Predict $8 Billion Profit for Rio Tinto

Rio Tinto is likely to post a net profit for its first half in the region of $8 billion. The profits have been bolstered by the hike in prices of iron ore, aluminium, and copper.

From Rio Tinto plc 3 Aug 2011

China Steel Production Falls, Trial of Iron Ore Index Soon

China is not too hopeful about its steel production forecasts for the second half of 2011. The China Iron and Steel Association (CISA) highlights the effect that tight monetary policy is having on commodities demand in the nation. Zhang Changfu, vice chairman of the association said that steel production growth will slow down further in the second half of this year.

3 Aug 2011

Rio Tinto to Challenge High Court Ruling on Pilbara Workplace Agreements

Rio Tinto is challenging a High Court ruling that will allow the unions to operate in the iron ore operations it owns in Western Australia. If the ruling holds the unions will be allowed to bargain on issues of pay and work conditions for mine workers in the Pilbara region.

From Rio Tinto plc 3 Aug 2011

India's NMDC Looks to Make Foreign Acquistions

National Mineral Development Corporation (NMDC), India’s largest iron ore miner, is currently involved in talks with overseas mining companies in regard to possible takeovers. NMDC Chairman Rana Som said the company had earmarked $500 million for overseas acquisitions this financial year.

3 Aug 2011