On September 23, 2008 Supreme Court in Australian decided on a key matter relating to Cape Lambert Iron Ore project apparently paving the way for the finalization of the Marampa hematite project with African Minerals.

It could be recalled that the London-listed explorer African Minerals has agreed to develop its Marampa iron-ore project, in Sierra Leone, with Australian explorer Cape Lambert Iron Ore.
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Consolidated Thompson Iron Mines Limited provides the following update on its Bloom Lake iron ore project:

• Mine site development is progressing according to budget and is on schedule to meet the end of September 2009 production target.
• With a current cash position of approximately C$260 million and based on the current construction schedule, the Company has sufficient funds through April 2009. Additional financing requirements are expected to be approximately C$100 million. Debt financing discussions are at an advanced stage with indicative terms sheets expected by mid-October. The Company has engaged Auramet Trading LLC to help manage this process.

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October 7th, 2008 | No Comments »

Apolo iron ore project is project iron ore mine exploration located near the cities of Caete and Santa Barbara in the state of Minas Gerais.

This project is one of exploration of a real potential iron ore mine for Brazil. The company managing and exploration this mine is Companhia Vale do Rio Doce.

To increase result of exploration of iron ore mine in location of this mine, company does invesment $22 billion. The company hopes and plans, iron ore mine exploration.

The company hopes invesment which have been able to increase iron ore mine product and exploration about 24 million tons of iron ore per year.

SOURCE: Industrial Info Resources

Citinank analysts, steel consumption is likely to grow but at a moderate pace over the next two years.

While contract prices have declined given the recent fall in international prices, they are still higher on a year-on-year basis.

Meanwhile, domestic steel companies are likely to continue acquisitions abroad, focusing on the mining sector, in an effort to improve integration of raw materials, add analysts.
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Patriot Coal Corp. reports, result of coal mine produce at session third-quarter doesn’t reach target plans. Coal mining exploration and export company, targets attainment of produce of coal 8 million tons, but in report submitted produce of coal yielded 1.4 million tons.

Degradation result of coal-mine produce the price of sale of company share experiences degradation.

The stock price - which has lost nearly one-half its value in the past week - declined amid a market selloff Monday that took the Dow Jones industrials below 10,000 for the first time in four years. Read more » »

The deadly explosion occurred on Saturday morning at a depth of 500 meters (1,600 feet) in the Duvanna coal mine of Sukhodolsk city, Luhansk province, said Ihor Krol, the spokesman for the Emergency Situation Ministry.

A total of 119 miners were working at the site, six of them were killed when the incident took place. The remaining 113 miners were later brought to surface, he added.

Krol noted that the government has immediately decided to create a commission to investigate into the cause of the accident. Read more » »

Authorities have shelved a proposal to export 200,000 tonnes of high quality and expensive coal by the Barapukuria Coal Mine Company Ltd (BCMCL) and asked it to go for local market sale first.

Sources say frustrated by a lack of interest in local buyers, who prefer cheaper but environmentally hazardous coal from India, BCMCL sought permission from its board to export the coal.

Given the international coal market scenario where price of Barapukuria standard coal exceeded $200 a tonne, BCMCL thought it could secure up to $170 a tonne at the mine site from international buyers.
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Norilsk Nickel’s net profit fell by one-third in the first half of the year as the world’s largest nickel miner succumbed to rampant inflation in Russia and a 40 percent decline in the price of the metal.

Norilsk’s stock on the MICEX fell 17.7 percent Friday, falling further than the 6.1 percent decline on the MICEX mining and metals index. The shares have fallen more than 60 percent from their November 2007 high.
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Steel makers and coal producer shares dropped as investors worried falling steel and coal prices may erode their earnings, analysts said.

Baosteel, the country’s largest steel maker, plummeted 7.43 percent to 6.73 yuan. The Angang Steel Co., a leading domestic steel maker, was down 8.52 percent to 8.05 yuan. China Shenhua, the country’s top coal producer, sank 9.46 percent to 24.8 yuan and Yanzhou Coal Mining Company lost 8.31 percent to 11.81 yuan.
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17 companies from national and international, has distillation of coal mining exploration by 18 coal-mines owned by Coal India Ltd ( CIL).

“The proposals are now being evaluated by the Central Mine Planning and Design Institute (CMPDI)” a source close to the development told media..

The bidders are Xindia Steels, Walter Southeast Asia, Afcon Infrastructure, Essel Mining and Industries, Sunflag Iron and Steel, Anglo American Services India, Indo-Australia Mining, Reliance Infrastructure, Zhengzhou Coal Mining Machineries, Essar Mineral Resources, Electrosteel Castings, Sainik Mining and Allied Services, Tiandi Science and Technology, Future Metals, European Ventures, Rio Tinto India and Bucyrus DBT Europe GmbH.
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