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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 [...]
Kazakhstan cancels sale of shares in KazakhGold to Russia’s Polyus Gold
Kazakhstan on Monday annulled the sale of shares in KazakhGold to Russia’s Polyus Gold, putting in jeopardy plans for a merger of the two groups to create a gold-mining giant.
“Due to newly discovered information regarding violations of the law on mineral resources during the purchase of the stake in KazakhGold by the Russian company Polyus [...]
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 [...]
Updates on Lithium Mining By American Lithium Minerals
American Lithium Minerals, Inc. is pleased to announce that Japan Oil, Gas and Metals National Corporation (JOGMEC) has agreed to invest $4,000,000 in the Borate Hills Project to be a Joint Venture Partner in the Project. The OGMEC investment will be instrumental in advancing the Borate Hills Project through the economic pre-feasibility stage.
Stated Mr. Hugh [...]
Ukrainian Government Plans to Invest in Coal Mining Development Projects until 2015
Ukrainian government plans to invest in the coal mining development project for five years until 2015. Value of investment for coal mining development projects amounted to 47.3 billion. Investment funds will be allocated to the improvement of technical and construction-equipment in 63 coal mines.
Coal mining area will be developed, among others; Donetsk, Luhansk and Volyn. [...]
Gezhouba Group Applying for Coal Mine Exploration Rights in Xinjiang
Some mining companies of China filed coal mine exploration rights in Xinjiang region. Gezhouba Group is one of the mining companies applying for coal mine exploration rights in Xinjiang region. Gezhouba Group applying for rights to explore for coal mining through subsidiaries, Xinjiang Gezhouba Investment and Development Co.
Application for mines exploration rights consists of 17 [...]
Mining Company Vale to Buy 24.5 percent Stake in Australian Coking Coal Projects
Brazilian mining company Vale to increase ownership in Australia Belvedere coking coal project to be 75.5%. Belvedere is underground coal project in the southern Bowen Basin, near the town of Moura, in the state of Queensland, Australia. Through investment company AMCI Investments, Vale bought 24.5 percent stake coking coal project with a value of $ [...]
Zimbabwe Gold Mining Companies Eyes 100 000 Oz Output In 2012
Zimbabwe’s Duration Gold expects to produce 100 000 oz/y of gold by 2012, the back of the country’s liberalised gold trade and an improving investment climate, a company official said.
Duration Gold, a privately owned firm controlled by the Jersey-based Clarity Capital, bought up several Zimbabwean mines in 2006, which it kept under care-and-maintenance until 2009, [...]
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 [...]
