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Business Mitsui may miss metals profit target on iron ore slump
Sun, 14 Sep 2014 22:30:12 +0100
iron oreJapanese trading house Mitsui & Co may miss the current year's profit target for its metals business due to the slump in iron ore, warned a senior executive, who said prices may fall to as low as $80 a ton before rebounding.Mitsui expects prices to rebound to $100 as

China August crude steel output up 1% on year - MarketWatch
Sat, 13 Sep 2014 14:00:54 +0100
china flagBEIJING--China's crude steel output in August rose 1% from a year earlier but fell 0.9% from July to 68.91 million metric tons, the National Bureau of Statistics said Saturday. The level was largely in line with analyst expectations that production ...

Battles leave Lugansk airport, busy tourist hub, in ruins
Sat, 13 Sep 2014 07:52:20 +0100
hammer and sickleLugansk International Airport used to offer flights to Turkey, Egypt and other sunny tourist spots as well cities in Ukraine and Russia, handling as many as 10,000 passengers a day.

Davies confirms plans for Chinese steel project in Limpopo
Fri, 12 Sep 2014 16:00:00 +0100
steelmakingTrade and Industry Minister Dr Rob Davies confirmed on Friday that the Hebei Iron and Steel Group, of China, was set to partner with the State-owned Industrial Development Corporation (IDC) on the development of steelmaking capacity based on the raw ...

South Africa agrees steel plant study project with China
Fri, 12 Sep 2014 15:31:34 +0100
South Africas Industrial Development Corporation (IDC) has signed an agreement with Chinas Hebei Iron & Steel Group (HISG) aimed at building a steel manufacturing plant in South Africa with a total production capacity of five million tonnes.

Brazil's Vale signs iron ore shipping deal with China's Cosco
Fri, 12 Sep 2014 14:26:41 +0100
Brazilian miner Vale SA reached a deal with China Ocean Shipping Co for transporting iron ore, a move that could help the Brazilian miner resolve a costly two-year ban on docking its mega-ships at Chinese ...

Iron ore hits a downward spiral
Fri, 12 Sep 2014 10:13:18 +0100
The price of iron ore has slumped this year - expect the decline to continue. The post Iron ore hits a downward spiral was first published on MoneyWeek .

Mine Australia Magazine: Issue 4
Fri, 12 Sep 2014 09:33:00 +0100
In this issue: Business in Queensland, a cheaper and greener wastewater treatment, assessing the impact of mining on delicate ecosystems, difficult times in the mining equipment sector, insights into the current jobs market and more

Nucor names new executive VP - Recycling Today
Fri, 12 Sep 2014 08:40:01 +0100
nucor steelNucor Corp., Charlotte, North Carolina, has promoted Dave Sumoski to the position of executive vice president (EVP) of engineered bar products. The division includes the special bar quality (SBQ) and cold finished steel business sectors. Sumoski has ...

Hebei Iron & Steel to Build Plant in South Africa
Fri, 12 Sep 2014 07:28:00 +0100
melt shopBEIJINGChina's second-largest steelmaker by volume,...

Japan's Mitsui may miss metals profit target on iron ore slump
Fri, 12 Sep 2014 07:06:36 +0100
pricesJapanese trading house Mitsui & Co <8031.T> may miss the current year's profit target of $1.1 billion for its metals business due to the slump in iron ore, warned a senior executive, who said prices may fall to as low as $80 a tonne before rebounding. Mitsui expects prices to rebound to $100 as early as the end of the year and the trading house's iron ore business will remain profitable even if ...

South African coal market seen as increasingly important due to its ...
Fri, 12 Sep 2014 01:00:00 +0100
coalThe importance of coal, particularly in the context of China's insatiable demand, is growing. Coal and iron ore derivatives are used to hedge volatility in iron ore and coal prices as traders of the.......

Deals this week: Fresnillo, Vanguard Mining, Taseko Mines and more
Fri, 12 Sep 2014 00:00:00 +0100
Fresnillo has signed an agreement to buy a 44% stake in the Penmont joint venture (JV) from Newmont Mining for $450m in cash.

Why AK Steel is turning to vertical integration to add value
Thu, 11 Sep 2014 22:00:41 +0100
Vertical integration means owning the raw material and supply chains for the business. For a steel company, the major raw material is iron ore and coal. The supply chain includes a company's own sales ...

Lucchini receives binding offer from India's JSW Steel
Thu, 11 Sep 2014 19:58:58 +0100
severstalItalian steelmaker Lucchini said on Thursday that it has received a binding offer from India's JSW Steel for its core assets in Piombino and is considering the offer. Lucchini, Italy's second-largest steel plant by capacity, was previously owned by Russia's Severstal and its biggest shareholder, Russian businessman Alexei Mordashov, but it was declared insolvent in 2012 and placed under special ...

Jharkhand orders closure of some iron ore mines
Thu, 11 Sep 2014 11:07:47 +0100
Jharkhand has ordered the closure of 12 out of its 17 iron ore mines because their leases have expired, dealing a fresh blow to local steelmakers, some of which have been forced to import the raw material due to short supplies at home. Mining curbs in India in states such as Goa and Karnataka along with mine closures in top producing Odisha have limited iron ore availability in the country ...

Visit from the delegation of Ecuadorsovereign homeland union movement ...
Thu, 11 Sep 2014 06:55:00 +0100
(Source: Wuhan Iron and Steel Co Ltd) Visit from the delegation of Ecuadorsovereign homeland union movement cadres Wisco News Center Publish Date2014-09-02 On the morning of August 29, Mr. Zhang Xiang, member of standing committee of WISCO party committee, trade union chairman, met with the delegation of Ecuador sovereign homeland union movement cadres headed by the executive...

Big River must respond to Nucor - Memphis Business Journal
Wed, 10 Sep 2014 22:27:25 +0100
construction - Big River, the $1.3 billion steel manufacturing facility, is supposed to break ground in Osceola, Arkansas, on Sept. 22. But now it must respond to the complaint, which Nucor is hoping will stop construction of the facility, by Oct. 10. Nucor has two ...

Severstal eyes former Sydney Steel lands -
Wed, 10 Sep 2014 21:57:43 +0100 - SYDNEY — A Russian steelmaking giant is eyeing lands near downtown Sydney for the development of a long-awaited iron ore pelletization plant. For at least two years, OAO Severstal has been looking at properties that once housed the Sydney Steel plant ...

Govt okays Rs 44,000-crore stake sale in three PSUs
Wed, 10 Sep 2014 15:14:18 +0100
The government on Wednesday approved share-sale plans in three major state-owned companies Coal India Limited, National Hydroelectric Power Corporation and&nbsp;Oil and Natural Gas Corporation&nbsp; that can potentially earn the exchequer Rs 44,000 crore.&nbsp;

Rio Tinto sees 125 mln tonnes of iron ore capacity being cut in 2014
Wed, 10 Sep 2014 03:41:25 +0100
rio tinto* Iron ore prices down 38 pct to 5-year low (Recasts lead; WASHINGTON, Sept 9 (Reuters) - World no.2 iron ore miner Rio Tinto expects other miners worldwide to cut 125 million tonnes of iron ore capacity in 2014, roughly equal to the amount of new supply expected to come on stream from Australia and Brazil. Iron ore prices have plunged 38 percent to five-year lows this year, largely due to a ...

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