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POSCO and Vale Steel Plant Project Partners in Pecem City, Brazil
Vale, Brazilian iron ore mining company, announced that it has a joint venture with South Korea’s largest steelmaker Posco to build steel plant in the city of Pecem, Brazil.
Shareholding agreement on steel plant to be built, Vale has a 60 percent stake, the South Korean steel company Posco has a 40 percent stock and 10 [...]
Production And Market Prices Gold Analysis Reports in Global Gold Mining By GIA
Global Industry Analysis (GIA) has reported changes in the prices and gold production in gold mining market. GIA estimates of global gold production will reach 2600 metric tons in 2012. Increased production due to improved gold prices in global markets. But gold-producing companies experiencing some technical obstacles to increase production, the technical problems faced by [...]
China Worried About Australia’s Mining Tax Regulation on Iron Ore Price
China’s largest importer of iron ore each year, demands for iron ore imports to China are always increasing. The growth of steel production in China is the main factor affecting the increase in demand for iron ore.
China’s steel companies worried about the Australian government’s plan to raise mining taxes for 40 percent of the profits [...]
Fortescue Metals Postpone Plans $ 15bn Investment to Develop Mining Projects in Australian
Plan gains tax increase that will apply to mining companies in Australia to have a fairly hard resistance from a mining company. Fortescue Metals, is one of the mining company will suspend mining investments amounting to $ 15bn. Analysts say the delay will be waiting for the certainty of profit tax law to be applied [...]
Iron Ore Over Demand from China, Iron Ore Prices May Fall to Below $150 mt
Iron ore prices for immediate delivery may fall to below $150 a metric ton in the second half from about $175 now on rising output of the raw material and concern over demand from China, according to Macquarie Group Ltd.
“In the second half, we may get more supply coming on and demand from steelmakers in [...]
Cape Lambert Suspends Iron Ore Mining Exploration in Pilbara After Tax Mining Proposal
Cape Lambert suspended iron ore mining exploration project in the southern Pilbara region after the Australian government plans mining tax increase amounted to 40 percent.
Proposed mining tax increase planned by the Australian government caused many mining companies to stop mining exploration project in Australia. Tax increase threatens future investment in Australia.
“We are reallocating the A$10 [...]
China’s Influence on Iron Ore Prices and Global Iron Ore Market Reduced
With new entrants rising in the market, China’s industry dominance could be less than solid.
Major mining companies have succeeded largely in their push for short-term iron ore pricing, breaking with the four-decade-old tradition of annual benchmark prices. Price control for traded iron ore has shifted to the three major mining-for-export companies after their significant consolidation [...]
Australian Plans to Increase Mining Taxes Affect Mining Companies Stock Trading in London
Trade shares some of the largest mining companies like BHP Billiton, Rio Tinto and Xstrata Plc in London fell. The fall of the mining company’s stock are expected because the Australian government’s plan to raise taxes on mining.
As already reported, Australia’s government plans to increase taxes on companies engaged in the resource sector, particularly mining. [...]
Australian Government Plans to Increase Taxes on Profits of Mining Companies
The Australian government plans to increase taxes on the profits a company engaged in the resources sector, particularly companies engaged in mining exploration sector. Planned tax increase amounted to 40 percent on corporate profits. This tax increase plan will begin in 2012.
The factors that pushed the tax increase is the high growth of national income [...]
