Mining Exploration News

The Australian Competition and Consumer Commission has set itself an April 28 deadline for ruling on the $US116 billion ($127bn) West Australian iron ore merger between BHP Billiton and Rio Tinto, a delay of two months on its target.

Last month, the ACCC said it had delayed its findings on the merger and had requested more information from BHP and Rio.

The request came after the commission received submissions from iron ore buyers and other suppliers. Yesterday, an ACCC spokeswoman would not comment further on the investigation or what information had been required from the two mining giants.
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BHP Billiton and JFE Steel have agreed on an annual coking coal prices and iron ore prices, thus affecting coking coal prices reach 55%. Agreements have been made by BHP Billiton and JFE Steel are valid for fifteen months, starting in April and June. Agreements made by the largest mining producers and the largest steel producers picture of fluctuations in coking coal prices in 2010.

This new deal with seeing JFE pay $ 200 per tonne for coking coal in lieu of $ 129 per ton in the year, the contract that expired at the end of the month.
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The Directors of Orocobre Limited, “Orocobre” or “the Company”, the leading lithium-potash resource developer in the Puna region of Argentina are pleased to announce the further expansion of the Company’s lithium-potash project pipeline with two significant discoveries:
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Gold-Ore Resources Ltd. announces that it has released its financial results for the year ended November 30, 2009. The Company’s audited consolidated financial statements and management’s discussion and analysis for the year ended November 30, 2009 are available.
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Wuhan Iron & Steel Group, China’s third-biggest steelmaker, is seeking to invest in more overseas iron ore assets to cut reliance on expensive imports, General Manager Deng Qilin said.

“We aim to be self-sufficient in iron ore supplies in three to five years and reduce purchases,” Deng, who’s also chairman of the China Iron & Steel Association, Read More…

The risk of volatility as global steel-making coal markets strengthen led to creation of a new index to facilitate more flexible pricing, developers said Wednesday.

A set of three indices created by Tennessee-based Energy Publishing Co is intended to enable the industry to move away from annual contracts for the coal, also called coking coal, editor Jim Thompson said.
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The Environmental Protection Agency has approved a controversial permit with water policy implications for a West Virginia mountaintop removal coal mine.

The permit now goes to the Army Corps of Engineers, which has final authority. The Obama administration has been wrestling with the issue of mountaintop mining’s impact on water quality.
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Coal mining company Sasol has allocated R3,1-billion for the new export coal mine to replace the depleting Twisdraai operation.

The Thubelisha export coal mine, already under construction, will also supply Sasol’s synfuels factory in Secunda, in Mpumalanga province.

Sasol Mining’s output in the six months to December 31 was up 6%, but its profit of R170-million was down 88%, owing to weak rand export prices.
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The Board of Directors of Dajin Resources Corp. wish to announce that Dajin received a certificate from the Mining Authorities of Jujuy Province, located in north western Argentina, confirming that the company has sufficient title and control over 83,248 hectares of exploration or exploitation rights covering Dajin’s Salinas Grandes/Guayatayoc Basin lithium, potash and borate project. Read More…