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Rio Tinto Granted 3-Month Extension in Guinea Iron Ore Dispute

Rio Tinto has been granted an extension of three months in the dispute in Guinea over the Simandou iron ore concession. The Anglo Australian mining giant had invested in the largest undeveloped iron ore deposit in Guinea but has been in dispute over blocks 1 and 2 which were given to BSG Resources.

24 Feb 2011

HK's Fortune Oil to Invest $500 Million in Armenian Iron Ore

Hong Kong based Fortune Oil is venturing into Armenian iron mines. The Prime Minister of Armenia Tigran Sarkisian met with a delegation from the company led by the Executive Vice Chairman Daniel Chiu. After the meeting it was announced that Fortune Oil would invest around $500 million in the iron mining industry in Armenia.

24 Feb 2011

Central Iron Ore Receives Exploration Licenses in Western Australia

Central Iron Ore Ltd. (TSX VENTURE:CIO) has announced that three of its applications for exploration licences that are prospective for the occurrence of Iron Ore in Western Australia have now been successfully granted. It is expected that the remaining tenements will be granted over the coming months.

From Central Iron Ore Limited 24 Feb 2011

Glenn Stevens Says Resources Boom Will End, Urges Australians to Save

Glenn Stevens, the Reserve Bank governor, warned Australians that the mining boom would not last forever and they need to save for the time when commodity prices will fall.

23 Feb 2011

Cyclone Carlos Closes Pilbara Mining Operations

A cyclone of the north west mining coast of Australia has brought damage to homes and closure to offshore oil rigs. Ports handling iron ore exports have also been forced to shut down as per officials. The tropical cyclone Carlos measured two on a five point scale.

From BHP Billiton Plc 23 Feb 2011

London Mining Completes Scoping Study for Greenland Iron Ore Operation

London Mining PLC, a UK based company, has released a scoping study for its Isua project in Greenland. The 15 million tonnes per annum iron ore mining operation has already seen a pre-feasibility study of 10 million tonnes a year being completed by the company.

From London Mining Plc 22 Feb 2011

Acquisitions and Mongolia High on BHP CEO's Agenda

BHP Billiton Chief Executive Officer Marius Kloppers thinks that making acquisitions is still very much on the cards for the mining giant. Its hostile takeover bid for Rio Tinto in 2008 may not have worked and its PotashCorp takeover bid may have been shot down by the Canadian government but they are still looking forward to new opportunities.

From BHP Billiton Plc 21 Feb 2011