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Latest Iron mining Stories

2008-07-30 06:00:43

Researched by Industrial Info Resources (Sugar Land, Texas) -- Brazilian miner Vale (NYSE:RIO) (Rio de Janeiro), the world's largest iron ore producer, is advancing its Serra Sul iron ore project, located about 60 kilometers (km) southwest of the city of Parauapebas, in Brazil's Para State. Serra Sul is expected to be completed by the fourth quarter of 2011, with production starting by early 2012. The planned investment for Serra Sul is $10.1 billion with planned expenses for 2008 of $145...

2008-07-23 12:01:01

By Peter Passi, Duluth News-Tribune, Minn. Jul. 23--Cleveland-Cliffs Inc. announced plans to invest $104 million at United Taconite in Forbes on Tuesday, boosting the plant's production by 13 percent -- or 700,000 tons annually -- and creating 24 jobs. The kicker? Cleveland-Cliffs believes it can cut overall emissions of pollutants while simultaneously increasing its pellet output, thanks in large part to renewable fuels it plans to produce on the Iron Range. The company...

2008-07-22 21:00:30

By Peter Passi, Duluth News-Tribune, Minn. Jul. 22--Cleveland-Cliffs Inc. announced Tuesday plans to invest $104 million at United Taconite in Forbes, boosting the plant's production by 13 percent -- or 700,000 tons annually -- and creating 24 new jobs. The kicker? Cleveland-Cliffs believes it can cut overall emissions of pollutants while simultaneously increasing its pellet output, thanks in large part to renewable fuels it plans to produce on the Iron Range. The company predicts...

2008-07-18 06:00:00

By Dee DePass, Star Tribune, Minneapolis Jul. 18--Ohio-based Cleveland-Cliffs Inc. staked its claim as a natural resources powerhouse this week, with the planned $10 billion purchase of an Appalachian coal giant and the buyout of a Chinese company's minority interest in a taconite plant on Minnesota's Iron Range. Cleveland's two deals come amid a global consolidation in the mining industry that's fueled by demand for steel, particularly from China and India. The deals and the historic surge...

2008-06-26 18:02:45

Iron ore prices double as China's largest steel producer agrees to Rio Tinto price increase. The news followed Dorex Minerals, Inc. (PINKSHEETS: DOXMF) (TSX-V: DOX) iron ore drill results on its Carmelita property in Chile. China's Baosteel agreed to a 96.5% hike in the cost of iron ore from Rio Tinto yesterday, which falls on the heels of a 65% rate hike by Brazil's Vale to other Chinese steel mills. Mining major BHP Billiton has indicated that will drop annually priced iron ore...

2008-06-25 06:03:09

A day after Rio Tinto clinched an agreement to nearly double the price of its iron ore shipments to the biggest steel maker in China, the focus Tuesday was on whether BHP Billiton would be able to negotiate an even higher deal. Iron ore prices have been rising sharply amid strong growth in emerging economies and as investors look to profit from commodity futures as equity markets falter. Steel producers have sought to pass along the higher cost to their customers, adding to inflationary...

2008-06-23 06:00:22

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 23, 2008) - Bill Wagener, the COO of Northland Resources Inc. (TSX:NAU)(FRANKFURT:NBS)(OSLO:NAUR), is pleased to announce the revised results of the NI 43-101 compliant Preliminary Economic Assessment ("PEA") of its three main magnetite projects: Tapuli and Stora Sahavaara in northern Sweden, and Hannukainen in northern Finland. Last week, Northland published - and subsequently retracted - the PEA, after a routine review of a shareholder...

2008-06-19 12:00:49

BEIJING, June 19 /Xinhua-PRNewswire/ -- Ocean freight rises is one of the most important reasons for the substantial increase of China's import costs of iron ore ( http://www.tootoo.com/ ). In recent days, Tootoo.com obtained the information from Shanghai Shipping Exchange as follows: in the Pacific and Atlantic regions, some speculative lessors manipulate long-term chartering markets and increase the Cape of Good Hope-model vessel freight prices sharply, which directly causes the sustained...

2008-06-14 06:00:19

By Peter Passi, Duluth News-Tribune, Minn. Jun. 14--Silver Bay will celebrate the rebirth of a taconite plant's furnace Thursday night with a picnic and tour of Northshore Mining Co. In mid-March, Northshore restarted Furnace No. 5 -- a piece of equipment that last produced pellets more than a quarter-century ago. "We've shaken out a lot of the start-up bugs now, and it's running well," said Scott Gischia, Northshore's manager of environmental services. "We're seeing good production...