Wednesday, 29 Feb 2012
Bloomberg reported that ArcelorMittal is studying an expansion of its Canada iron-ore production to 48 million metric tonnes a year.
Mr said Peter Kukielski head of mining said that ArcelorMittal plans Liberian iron ore production of 4 million tonnes this year, rising to 15 million tonnes by 2015.
(Sourced from Bloomberg)
Showing posts with label Canada. Show all posts
Showing posts with label Canada. Show all posts
Wednesday, February 29, 2012
Saturday, December 31, 2011
Chinese acquisitions into Australia trebles
Saturday, 31 Dec 2011
It is reported that though the UK, the US and Canada are home to companies that engaged in 60% of Australian M&A in 2011, Chinese corporates announced deals worth USD 9.9 billion almost three times the USD 3.7 billion notched in 2010 according to Dealogic.
At 15.1%, China market share of inbound M&A volume has been helped by two deals which are yet to close the USD 2.1bn merger between Yanzhou Coal Mining and Gloucester Coal and Hanlong Mining USD 1.65 billion takeover of Sundance Resources.
Both are the largest Chinese Australian tie-ups on record behind Yanzhou USD 3.5 billion acquisition of Felix Resources in 2009 making Australia the most targeted nation by China in 2011 followed by France, Hong Kong, Canada and Brazil.
(Sourced from www.theaustralian.com.au)
It is reported that though the UK, the US and Canada are home to companies that engaged in 60% of Australian M&A in 2011, Chinese corporates announced deals worth USD 9.9 billion almost three times the USD 3.7 billion notched in 2010 according to Dealogic.
At 15.1%, China market share of inbound M&A volume has been helped by two deals which are yet to close the USD 2.1bn merger between Yanzhou Coal Mining and Gloucester Coal and Hanlong Mining USD 1.65 billion takeover of Sundance Resources.
Both are the largest Chinese Australian tie-ups on record behind Yanzhou USD 3.5 billion acquisition of Felix Resources in 2009 making Australia the most targeted nation by China in 2011 followed by France, Hong Kong, Canada and Brazil.
(Sourced from www.theaustralian.com.au)
Friday, December 9, 2011
Isdemir to maintain coking coal purchases in 2012
Friday, 09 Dec 2011
According to preliminary data, in 2012 Turkish steelmaker Isdemir plans to keep coking coal purchases at this year’s level of 3 million tonne. Nevertheless, the volumes may be lower if coke production is reduced. The material is imported from Australia, the USA and Canada.
According to available information, Isdemir operates 4 coke batteries with a total designed capacity of 2 million tonne per year. The company is running two blast furnaces with a total capacity of 3.6 million tonne per year and is self sufficient in coke. The leftover is shipped to Erdemir.
(Sourced from www.arabsteel.info)
According to preliminary data, in 2012 Turkish steelmaker Isdemir plans to keep coking coal purchases at this year’s level of 3 million tonne. Nevertheless, the volumes may be lower if coke production is reduced. The material is imported from Australia, the USA and Canada.
According to available information, Isdemir operates 4 coke batteries with a total designed capacity of 2 million tonne per year. The company is running two blast furnaces with a total capacity of 3.6 million tonne per year and is self sufficient in coke. The leftover is shipped to Erdemir.
(Sourced from www.arabsteel.info)
Tuesday, November 29, 2011
Indian consortium bags 3 Hajigak iron ore blocks in Afghanistan
Tuesday, 29 Nov 2011
It is reported that Afghanistan government has offered India a new strategic role in Afghanistan by awarding mining rights for the country’s biggest iron deposit to a group of Indian state run and private companies.
Mr Karzai president of Afghanistan and his cabinet awarded three of four blocks at the Hajigak ore deposit to seven companies that bid with support from India’s government and offered the final block to Canada’s Kilo Goldmines Ltd
The Afghan Ministry of Mines announced “The Afghan Iron and Steel Consortium (AFISCO) which comprises SAIL, NMDC, Monnet Ispat & Energy, RINL, JSW Steel, Jindal Steel & Power, JSW Ispat has been awarded three blocks.”
India’s government backed the group, led by state owned Steel Authority of India Ltd Limited and NMDC Ltd, to widen the country’s strategic presence in Afghanistan, which Prime Minister Manmohan Singh has said is essential for Indian security.
Hajigak, a series of rugged mountain ridges 100 kilometers west of Kabul, holds an estimated 1.8 billion tonnes of ore and is the biggest mining project on offer in a country that the US government estimated last year holds USD 1 trillion in untapped minerals.
The Afghan government had invited bids to award development rights for four mines in Hajigak earlier this year and the last date for submission of bids was September 4.
(Sourced from Bloomberg & NDTV)
It is reported that Afghanistan government has offered India a new strategic role in Afghanistan by awarding mining rights for the country’s biggest iron deposit to a group of Indian state run and private companies.
Mr Karzai president of Afghanistan and his cabinet awarded three of four blocks at the Hajigak ore deposit to seven companies that bid with support from India’s government and offered the final block to Canada’s Kilo Goldmines Ltd
The Afghan Ministry of Mines announced “The Afghan Iron and Steel Consortium (AFISCO) which comprises SAIL, NMDC, Monnet Ispat & Energy, RINL, JSW Steel, Jindal Steel & Power, JSW Ispat has been awarded three blocks.”
India’s government backed the group, led by state owned Steel Authority of India Ltd Limited and NMDC Ltd, to widen the country’s strategic presence in Afghanistan, which Prime Minister Manmohan Singh has said is essential for Indian security.
Hajigak, a series of rugged mountain ridges 100 kilometers west of Kabul, holds an estimated 1.8 billion tonnes of ore and is the biggest mining project on offer in a country that the US government estimated last year holds USD 1 trillion in untapped minerals.
The Afghan government had invited bids to award development rights for four mines in Hajigak earlier this year and the last date for submission of bids was September 4.
(Sourced from Bloomberg & NDTV)
Wednesday, November 16, 2011
ArcelorMittal appoints Mr Wood to head Americas iron ore operations
Wednesday, 16 Nov 2011
ArcelorMittal announced the appointment of Mr Steve Wood as Vice President and Head of Iron Ore Operations for the Americas region. The appointment is effective from 1 November 2011.
Mr Steve will be based in Montreal, Canada and reports to mr Kleber Silva, Vice President Head of Iron Ore and Member of the ArcelorMittal Management Committee.
Prior to his appointment with ArcelorMittal, Mr Steve held various senior management positions in the mining industry. Most recently he was the Director and Head of Mining and Milling for Vale Canada's North Atlantic operations. In this role Steve was responsible for managing 11 copper and nickel mines, 3 mills and a new refinery and mine start up. Mr Steve has also worked in Indonesia as Vice President Operations at PT Inco where he successfully improved the company's environmental and safety performance across its operations.
Mr Kleber Silva commented “The Americas is an extremely important region for ArcelorMittal's global mining business and we are pleased to welcome an experienced operator like Steve to our team. He will ensure that the operational aspects of the Group's iron ore operations and projects in the region are best in class.”
Mr Steve is a member of the Canadian Institute of Mining and has a B Eng Mining from Laurentian University, Canada.
ArcelorMittal announced the appointment of Mr Steve Wood as Vice President and Head of Iron Ore Operations for the Americas region. The appointment is effective from 1 November 2011.
Mr Steve will be based in Montreal, Canada and reports to mr Kleber Silva, Vice President Head of Iron Ore and Member of the ArcelorMittal Management Committee.
Prior to his appointment with ArcelorMittal, Mr Steve held various senior management positions in the mining industry. Most recently he was the Director and Head of Mining and Milling for Vale Canada's North Atlantic operations. In this role Steve was responsible for managing 11 copper and nickel mines, 3 mills and a new refinery and mine start up. Mr Steve has also worked in Indonesia as Vice President Operations at PT Inco where he successfully improved the company's environmental and safety performance across its operations.
Mr Kleber Silva commented “The Americas is an extremely important region for ArcelorMittal's global mining business and we are pleased to welcome an experienced operator like Steve to our team. He will ensure that the operational aspects of the Group's iron ore operations and projects in the region are best in class.”
Mr Steve is a member of the Canadian Institute of Mining and has a B Eng Mining from Laurentian University, Canada.
Monday, November 14, 2011
US coking coal exports in September slip
Monday, 14 Nov 2011
According to data from the US Department of Commerce, US coking coal exports excluding shipments to Canada slipped 0.3 million tonne on August to 4.8 million tonne in September. This marks an increase of 1.5 million tonne year on year.
The department said that coking coal exports to China saw a significant recovery, up 57% month on month to a 6-month high of 0.5 million tonne. By contrast, exports to South Korea and Japan both declined to 0.2 million tonne and 0.4 million tonne respectively.
(sourced from ssyonline)
According to data from the US Department of Commerce, US coking coal exports excluding shipments to Canada slipped 0.3 million tonne on August to 4.8 million tonne in September. This marks an increase of 1.5 million tonne year on year.
The department said that coking coal exports to China saw a significant recovery, up 57% month on month to a 6-month high of 0.5 million tonne. By contrast, exports to South Korea and Japan both declined to 0.2 million tonne and 0.4 million tonne respectively.
(sourced from ssyonline)
Thursday, November 3, 2011
Rio Tinto reiterates its recommended all cash offer for Hathor Exploration
Thursday, 03 Nov 2011
Rio Tinto reiterated its friendly all cash offer of CAD 4.15 per common share for Hathor Exploration made on 19 October 2011.
Rio Tinto's offer represents a premium of more than 55% to Hathor's unaffected closing price on August 25th 2011. It is also a premium of approximately 11 per cent to Cameco's unsolicited offer of CAD 3.75 per common share, which was extended until 14 November 2011.
Mr Doug Ritchie CEO of Rio Tinto Energy said that "Our expertise in exploration, innovative mining techniques, technology and commitment to sustainable development will complement and build on the strong technical foundation established by Hathor at Roughrider."
Rio Tinto intends to accelerate the investigation and assessment of Hathor's exploration properties to unlock their full potential, consistent with global safety and community standards. Rio Tinto's investments in Saskatchewan will support the diversification and development of the regional economy, building on its significant presence in Canada.
Friday, October 21, 2011
The Coal Association of Canada National Conference Highlights
Video Summary of Company Posted on InvestmentPitch
Fri,Oct21,2011
Vancouver, British Columbia, October 20, 2011 - The Coal Association of Canada (www.coal.ca) recently held its national conference at the Fairmont Hotel in Vancouver and InvestmentPitch.com had the opportunity to sit in at several of the presentations, along with more than 350 delegates from 14 countries.
InvestmentPitch.com has produced a "video news alert" about highlights from the conference. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Coal Association" in the search box.
It was appropriate that this conference was held in Vancouver, as Port Metro Vancouver exported approximately 30 million metric tonnes of coal through the Port's facilities during 2010, a 25% increase over 2009. Twenty-two million tonnes or 73% of this total consisted of metallurgical coal. Metallurgical coal, which is less abundant than thermal coal, is primarily used in the production of coke which is used in steel production, whereas thermal coal is burned for heating or producing energy.
While speakers acknowledged some nervousness about the economic recovery in the US and Europe, they concluded that the overall coal market, especially in developing countries like China & India, was very positive.
Jim Griffin, Global Head, Business Development, for Walter Energy commented, "Canada is geographically located to supply the rapidly growing Asian markets because of regional advantages not found anywhere else in the world."
A number of speakers predicted that production in Canada could more than double by 2018, especially metallurgical coal, if all mine projects go ahead.
Rich Coleman, BC's Minister of Energy and Mines stated, "We want the world to know that BC's mining industry is open for business. Coal mining, transportation and exports are significant economic driver in the province and this government is committed to working with companies who want to be a part of the future."
Denis Horgan, VP of Westshore Terminals, forecasted overall west coast regional port capacity of 70 million tones within 5 years.
While speakers were forecasting strong demand and prices for steelmaking coal, the international thermal coal price, used for energy, was forecasted to continue its growth as well, given the current positive demand outlook. Coupled with the International Energy Agency's forecast of coal accounting for 43% of the world's electricity mix in 2035, there will be growing export opportunities for Canadian thermal producers as well.
As Robert Stan, Chair of the Coal Association of Canada, put it: "It is not a question of whether coal will be used in the future, it is a question of how we use it better."
The conference could be summed up in the words of new Coal Association of Canada President, Ann Marie Hann, "The atmosphere in Vancouver, British Columbia, Canada was one of high optimism for the future of coal both globally and here in Canada."
InvestmentPitch.com is a multimedia company that provides a combined solution for creating, hosting, and distributing financial video content across multiple platforms to investors and financial professionals.
(sourced Reuters)
Fri,Oct21,2011
Vancouver, British Columbia, October 20, 2011 - The Coal Association of Canada (www.coal.ca) recently held its national conference at the Fairmont Hotel in Vancouver and InvestmentPitch.com had the opportunity to sit in at several of the presentations, along with more than 350 delegates from 14 countries.
InvestmentPitch.com has produced a "video news alert" about highlights from the conference. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Coal Association" in the search box.
It was appropriate that this conference was held in Vancouver, as Port Metro Vancouver exported approximately 30 million metric tonnes of coal through the Port's facilities during 2010, a 25% increase over 2009. Twenty-two million tonnes or 73% of this total consisted of metallurgical coal. Metallurgical coal, which is less abundant than thermal coal, is primarily used in the production of coke which is used in steel production, whereas thermal coal is burned for heating or producing energy.
While speakers acknowledged some nervousness about the economic recovery in the US and Europe, they concluded that the overall coal market, especially in developing countries like China & India, was very positive.
Jim Griffin, Global Head, Business Development, for Walter Energy commented, "Canada is geographically located to supply the rapidly growing Asian markets because of regional advantages not found anywhere else in the world."
A number of speakers predicted that production in Canada could more than double by 2018, especially metallurgical coal, if all mine projects go ahead.
Rich Coleman, BC's Minister of Energy and Mines stated, "We want the world to know that BC's mining industry is open for business. Coal mining, transportation and exports are significant economic driver in the province and this government is committed to working with companies who want to be a part of the future."
Denis Horgan, VP of Westshore Terminals, forecasted overall west coast regional port capacity of 70 million tones within 5 years.
While speakers were forecasting strong demand and prices for steelmaking coal, the international thermal coal price, used for energy, was forecasted to continue its growth as well, given the current positive demand outlook. Coupled with the International Energy Agency's forecast of coal accounting for 43% of the world's electricity mix in 2035, there will be growing export opportunities for Canadian thermal producers as well.
As Robert Stan, Chair of the Coal Association of Canada, put it: "It is not a question of whether coal will be used in the future, it is a question of how we use it better."
The conference could be summed up in the words of new Coal Association of Canada President, Ann Marie Hann, "The atmosphere in Vancouver, British Columbia, Canada was one of high optimism for the future of coal both globally and here in Canada."
InvestmentPitch.com is a multimedia company that provides a combined solution for creating, hosting, and distributing financial video content across multiple platforms to investors and financial professionals.
(sourced Reuters)
Sunday, October 16, 2011
Occupy action turns to U.S., Canada
October16, 2011
NEW YORK – Demonstrations motivated by the Occupy Wall Street movement that started Saturday in New Zealand and then headed west to European cities were being followed by protests in North America, with marches held in cities in the U.S. and Canada.
In New York, about 2,000 protesters marched through the city’s financial district before a rally in Times Square planned to begin at 5 p.m. Eastern. “At the present time, Broadway matinee and evening shows will go on as scheduled,” the Broadway League said in a statement reported by Reuters.
“Wall Street CEOs are doing very well and sitting on tons of money and they’re not contributing their fair share and shared responsibility to the economy,” Ted Fang of the United Auto Workers was quoted as saying by local news station NY1.
In Washington, the March for Jobs and Justice, organized by the Rev. Al Sharpton and others, was planned as a show of support for President Barack Obama’s jobs proposal. According to a story in the Washington Post, Sharpton, referring to Congress, told the crowd: “If you won’t get the jobs bill done in the suite, we will get the jobs bill done in the street. It’s time for us to occupy Wall Street! Occupy DC! Occupy Alabama!”
Separately, others gathered in a show of support for district voting rights and the Occupy Wall Street movement, eventually joining Sharpton’s group at the Martin Luther King Jr. memorial.
About two dozen protesters were reportedly arrested Saturday in Denver, and hundreds marched in Florida’s capital in participating in “Occupy Tallahassee.” At least 500 were expected to attend a rally in downtown Miami.
A few dozen protesters have been camped out for the past week in Charlotte, N.C., not far from the headquarters of the country’s largest bank, Bank of America Corp., according to the Associated Press.
Police in Pittsburgh planned to close several streets for a march ahead of a planned rally and camp in Mellon Green, a small park owned by BNY Mellon, scheduled for 4 p.m. Eastern, the Pittsburgh Post-Gazette reported.
In Canada, several thousand people gathered in a Toronto park near the city’s financial district, to protest inequality and higher taxes for the rich. Hundreds also reportedly gathered in Montreal, with demonstrators setting up tents in Victoria Park.
By Kate Gibson, Marketwatch
Saturday, October 8, 2011
The Coal Association of Canada
Headquartered in Calgary, Alberta, The Coal Association of Canada represents companies engaged in the exploration, development, use and transportation of coal. Its members include major coal producers and coal-using utilities, the railroads and ports that ship coal, industry suppliers of goods and services, and municipalities that have an interest in furthering the objectives of the Coal Association.
The Coal Association of Canada provides a forum to discuss and coordinate the views of its members on matters of common interest. It provides a respected voice which enhances the viability of the industry by advocating the clean use of coal through technology development. The Association's "Coal Core" program of Communications, Outreach and Education is instructive in helping stakeholders learn about the use of coal in the 21st century.
1 Browse Membership Directory
2 Complete List of Members
sourced : The Coal Association of Canada
The Coal Association of Canada provides a forum to discuss and coordinate the views of its members on matters of common interest. It provides a respected voice which enhances the viability of the industry by advocating the clean use of coal through technology development. The Association's "Coal Core" program of Communications, Outreach and Education is instructive in helping stakeholders learn about the use of coal in the 21st century.
1 Browse Membership Directory
2 Complete List of Members
sourced : The Coal Association of Canada
Xstrata gets in on BC coking coal action with C$40m acquisition
Sat,08 October,2011
By Matthew Hill
TORONTO – Diversified major Xstrata has further dug into Canada’s coking coal, with the C$40-million purchase of the Lossan metallurgical coal deposit in British Columbia from Cline Mining, the Switzerland-based company said on Friday.
The acquisition follows hot on the heels of Xstrata’s August acquisition of First Coal Corporation, which also owns coal licences in the Peace River region of the province.
The company isn’t the only mining giant that has been kicking up dust around Peace River, with rival Anglo American announcing earlier this week that it had lifted its ownership of Peace River Coal to 100%, and was doing a study to raise output there from one-million tons yearly of coking coal to 3.5-million tons by 2015.
The LSE- and JSE-listed miner paid $166-million to the minority owners of Peace River, Northern Energy & Mining Inc (NEMI) and Hillsborough Resources, to buy their respective around-12% stakes in the coal assets, as well as a royalty.
Anglo American made an about turn earlier this year, after having previously said it would lead the sale of Peace River Coal.
“We see significant resource upside and plan to invest in further exploration studies to ascertain its full long-term potential,” CEO of the firm’s metallurgical coal business, Seamus French, commented earlier this week.
Coking coal prices spiked to over $300/t earlier this year after flooding in Australian mines dented global production, though they have since subsided slightly.
Coking coal is used to make steel, and the proximity of north-eastern British Columbia’s coalfields to rail and port facilities that link them to China, which supplies around half of the world’s steel, makes them attractive.
Xstrata said that Lossan had a 240-million ton resource, and covered an area of around 3 800 hectares, meaning that the company now held nearly 100 000 hectares in the area.
Local media reported that Xstrata, the biggest exporter of coal burned in power stations, offered $147 million to buy First Coal Corporation, a privately owned company.
The company operates mines in South Africa, Australia, and Colombia.
TSX-listed Tech Resources is Canada's biggest coal producer.
(sourced MiningWeekly)
By Matthew Hill
TORONTO – Diversified major Xstrata has further dug into Canada’s coking coal, with the C$40-million purchase of the Lossan metallurgical coal deposit in British Columbia from Cline Mining, the Switzerland-based company said on Friday.
The acquisition follows hot on the heels of Xstrata’s August acquisition of First Coal Corporation, which also owns coal licences in the Peace River region of the province.
The company isn’t the only mining giant that has been kicking up dust around Peace River, with rival Anglo American announcing earlier this week that it had lifted its ownership of Peace River Coal to 100%, and was doing a study to raise output there from one-million tons yearly of coking coal to 3.5-million tons by 2015.
The LSE- and JSE-listed miner paid $166-million to the minority owners of Peace River, Northern Energy & Mining Inc (NEMI) and Hillsborough Resources, to buy their respective around-12% stakes in the coal assets, as well as a royalty.
Anglo American made an about turn earlier this year, after having previously said it would lead the sale of Peace River Coal.
“We see significant resource upside and plan to invest in further exploration studies to ascertain its full long-term potential,” CEO of the firm’s metallurgical coal business, Seamus French, commented earlier this week.
Coking coal prices spiked to over $300/t earlier this year after flooding in Australian mines dented global production, though they have since subsided slightly.
Coking coal is used to make steel, and the proximity of north-eastern British Columbia’s coalfields to rail and port facilities that link them to China, which supplies around half of the world’s steel, makes them attractive.
Xstrata said that Lossan had a 240-million ton resource, and covered an area of around 3 800 hectares, meaning that the company now held nearly 100 000 hectares in the area.
Local media reported that Xstrata, the biggest exporter of coal burned in power stations, offered $147 million to buy First Coal Corporation, a privately owned company.
The company operates mines in South Africa, Australia, and Colombia.
TSX-listed Tech Resources is Canada's biggest coal producer.
(sourced MiningWeekly)
Tuesday, October 4, 2011
Labrador Iron Mines makes first shipment of iron ore to China
Tuesday, 04 Oct 2011
Labrador Iron Mines Holdings Limited announced that the first shipment of LIM iron ore sailed today bound for China.
The Salt Lake City departed the Port of Sept-Iles at 4.50am EDT on October 3rd 2011 carrying a total of 167,167 wet tonnes of iron ore.
This ore was sold to the Iron Ore Company of Canada under the arrangements LIM has entered into with IOC for the sale and shipping of all of LIM's calendar 2011 iron ore production. The sale price for the iron ore is based on the actual realized prices to Chinese customers, less an allocation for handling, loading, shipping and sales costs.
Mr John Kearney chairman & CEO of LIM stated "This is a momentous day in the history of LIM and is the culmination of six years of endeavor. We are very proud to join the limited group of Canadian mining companies exporting iron ore and we are particularly proud that we have done so whilst maintaining our independence and without taking on debt. We now look forward to expanding on this first sailing in the months and years to come.
Labrador Iron Mines Holdings Limited announced that the first shipment of LIM iron ore sailed today bound for China.
The Salt Lake City departed the Port of Sept-Iles at 4.50am EDT on October 3rd 2011 carrying a total of 167,167 wet tonnes of iron ore.
This ore was sold to the Iron Ore Company of Canada under the arrangements LIM has entered into with IOC for the sale and shipping of all of LIM's calendar 2011 iron ore production. The sale price for the iron ore is based on the actual realized prices to Chinese customers, less an allocation for handling, loading, shipping and sales costs.
Mr John Kearney chairman & CEO of LIM stated "This is a momentous day in the history of LIM and is the culmination of six years of endeavor. We are very proud to join the limited group of Canadian mining companies exporting iron ore and we are particularly proud that we have done so whilst maintaining our independence and without taking on debt. We now look forward to expanding on this first sailing in the months and years to come.
Thursday, September 15, 2011
Canada threatens to tighten coal plant emissions rules
Thursday, 15 Sep 2011
It is reported that Mr Peter Kent Federal Environment Minister of Canada is serving notice that he won't tolerate companies trying to sneak around pending regulations to clamp down on greenhouse gas emissions.
Mr Kent said regulations for coal-fired electricity plants are not yet final and he could still change the rules especially if corporate interests are trying to skirt them. He added that "Until the final regs are written, they're not written. He emphasized that he has changed regulations at the last minute before for biofuels and he wouldn't hesitate to do it again if necessary.”
He also said in the interview the aim of that grace period was to make sure there was no stranded capital long term investments made under the old regime that would be rendered worthless if the new rules were to apply right away.
Mr Kent said he never intended to create a loophole that would prompt companies to build rule-breaking plants quickly. He suggested he will close that loophole, if necessary.
Calgary-based Maxim Power Corp. is rushing to build a coal-fired plant in western Alberta that would emit far more greenhouse gas than proposed federal regulations would allow. However, under the new regulations, a company already operating by July 2015 could take 45 years to comply.
Maxim officials have told the Alberta Utilities Commission the company had assurances from Environment Canada that its plant would fall under existing rules as long as it is up and running by that time.
Environment Canada has never backed up that claim, environmentalists pointed out.
One option could include changing the date when the stricter standards apply to new plants. The clock would not start ticking for older plants until July 2015 but new plants would face an earlier compliance date.
(sourced from winnipegfreepress)
It is reported that Mr Peter Kent Federal Environment Minister of Canada is serving notice that he won't tolerate companies trying to sneak around pending regulations to clamp down on greenhouse gas emissions.
Mr Kent said regulations for coal-fired electricity plants are not yet final and he could still change the rules especially if corporate interests are trying to skirt them. He added that "Until the final regs are written, they're not written. He emphasized that he has changed regulations at the last minute before for biofuels and he wouldn't hesitate to do it again if necessary.”
He also said in the interview the aim of that grace period was to make sure there was no stranded capital long term investments made under the old regime that would be rendered worthless if the new rules were to apply right away.
Mr Kent said he never intended to create a loophole that would prompt companies to build rule-breaking plants quickly. He suggested he will close that loophole, if necessary.
Calgary-based Maxim Power Corp. is rushing to build a coal-fired plant in western Alberta that would emit far more greenhouse gas than proposed federal regulations would allow. However, under the new regulations, a company already operating by July 2015 could take 45 years to comply.
Maxim officials have told the Alberta Utilities Commission the company had assurances from Environment Canada that its plant would fall under existing rules as long as it is up and running by that time.
Environment Canada has never backed up that claim, environmentalists pointed out.
One option could include changing the date when the stricter standards apply to new plants. The clock would not start ticking for older plants until July 2015 but new plants would face an earlier compliance date.
(sourced from winnipegfreepress)
Wednesday, September 7, 2011
Afghanistan’s Hajigak Iron Ore Deposit Draws Bids From India, Iran, Canada
Wed, Sep 7,2011
By Eltaf Najafizada and James Rupert
Afghanistan’s richest iron-ore deposit drew bids from an Indian government-backed group, two Iranian contenders and Canada’s Kilo Goldmines Ltd. (KGL), an Afghan official said.
Afghanistan’s mines ministry opened the bids yesterday for the estimated 1.8 billion metric tons of ore at Hajigak, 100 kilometers (60 miles) west of Kabul, said Abdul Jalil Jumriany, a ministry director-general. The tender is the biggest on offer in a country that the U.S. government estimated last year holds $1 trillion in untapped minerals.
Seven Indian steel and mining companies, led by state-owned Steel Authority of India Ltd. (SAIL) and NMDC Ltd. (NMDC), offered a bid that is part of an effort by Prime Minister Manmohan Singh’s government for a bigger role in a nearby country whose stability it calls essential.
In neighboring Pakistan, the politically powerful army “would have concerns about India having such a new role” in Afghanistan, said Bashir Ahmed, a senior fellow and retired army brigadier at the Institute of Regional Studies in Islamabad.
“Many in the Pakistani establishment are quite sensitive to India’s presence in Afghanistan,” seeing it as a security threat, he said.
The Indian group includes state-owned Rashtriya Ispat Nigam Ltd., and private-sector companies JSW Steel Ltd. (JSTL), Jindal Steel & Power Ltd. (JSP), Monnet Ispat Ltd. and JSW Ispat Steel Ltd. A separate Indian contender is Corporate Ispat Alloys Ltd., said Jumriany in a text message listing the bidders.
Iranian Interest
Two Iranian bidders are Gol-e-Gohar Iron Ore Co., one of Iran’s biggest iron ore producers, and Behin Sanate Diba Co., a privately run group of 10 investment, mining and industrial companies, some of which are partly state-owned, said Leyla Rashno, the group’s director for tenders.
Rashno declined in a phone interview in Tehran to say whether the group’s bid has been encouraged or backed by Iran’s government.
Toronto-based Kilo Goldmines, which trades on Canada’s TSX Venture Exchange, focuses mainly on gold mining in the Democratic Republic of Congo.
The other bidder for Hajigak is Acatco LLC, whose owner, Afghan-American businessman Nasir Shansab, lives near Washington and said in a phone interview his partnership, which employs 30 people, would bring in unnamed additional partners to develop the mine.
Indian Strategy
Indian authorities decided to facilitate their country’s group because “it makes business and strategic sense to have a presence in mining in Afghanistan,” Indian Mines Secretary S. Vijay Kumar said in January. Hajigak also may offer India an investment foothold in Afghanistan to rival that of state-owned Metallurgical Corp. of China Ltd., which is developing the country’s biggest copper deposit, at Aynak.
India and Afghanistan accused Pakistan’s army of secretly backing the July 2008 Taliban bomb attack on India’s embassy in Kabul, one of at least three deadly attacks on Indians in the city since that time. Pakistan denied the accusation.
Stalled Parliament
The mines ministry will this month recommend one bid to receive the license, plus one alternate, or reserve, bid, for each of four blocks at Hajigak, a ministry statement said. Ministry spokesman Jawad Omar said the awards will require approval by the cabinet and by Afghanistan’s parliament, where sessions have been stalled by a dispute over which candidates should be seated following disputed elections a year ago.
Hajigak is a range of treeless mountain ridges with a thin population of villagers who graze animals and farm the valleys below. The costs of developing mines will be increased by the need to build paved roads or rail lines to connect the site to potential markets.
While the ultimate cost of mining Hajigak is unclear, Indian companies “should have every reason to go for the Hajigak mines” if the cost of acquisition is about $1 to $1.5 per ton, said Ravindra Deshpande, an analyst with Mumbai-based Elara Securities Ltd.
While the bidders do not include the world’s biggest mining groups, which President Hamid Karzai’s government had hoped to attract, the six contenders represent progress in attracting investors’ interest. Afghanistan canceled a previous tender last year when only one of seven initial competitors showed up to visit the Hajigak site.
Corruption Issue
The U.S. Defense Department has backed efforts to draw in international investors that it says are essential to stabilizing Afghanistan. Still, the decade-old war and corruption remain obstacles. Afghanistan last year tied with Myanmar for the second-worst ranking among 178 countries in Transparency International’s perceived corruption index.
Karzai’s government has pledged to manage and publish its mining contracts under the provisions of the Extractive Industries Transparency Initiative, or EITI, a voluntary anti- corruption regime, Mines Minister Wahidullah Shahrani has said.
EITI, based in Oslo, Norway, advocates rules for improving the transparency of contracts and payments in mining and oil and gas extraction. The group rates 11 countries, including Nigeria, Norway, Liberia and Azerbaijan, as fully compliant, while 23 states, including Afghanistan, Kazakhstan and Indonesia, are pursuing the two-year process to achieve that status.
(sourced Bloomberg)
By Eltaf Najafizada and James Rupert
Afghanistan’s richest iron-ore deposit drew bids from an Indian government-backed group, two Iranian contenders and Canada’s Kilo Goldmines Ltd. (KGL), an Afghan official said.
Afghanistan’s mines ministry opened the bids yesterday for the estimated 1.8 billion metric tons of ore at Hajigak, 100 kilometers (60 miles) west of Kabul, said Abdul Jalil Jumriany, a ministry director-general. The tender is the biggest on offer in a country that the U.S. government estimated last year holds $1 trillion in untapped minerals.
Seven Indian steel and mining companies, led by state-owned Steel Authority of India Ltd. (SAIL) and NMDC Ltd. (NMDC), offered a bid that is part of an effort by Prime Minister Manmohan Singh’s government for a bigger role in a nearby country whose stability it calls essential.
In neighboring Pakistan, the politically powerful army “would have concerns about India having such a new role” in Afghanistan, said Bashir Ahmed, a senior fellow and retired army brigadier at the Institute of Regional Studies in Islamabad.
“Many in the Pakistani establishment are quite sensitive to India’s presence in Afghanistan,” seeing it as a security threat, he said.
The Indian group includes state-owned Rashtriya Ispat Nigam Ltd., and private-sector companies JSW Steel Ltd. (JSTL), Jindal Steel & Power Ltd. (JSP), Monnet Ispat Ltd. and JSW Ispat Steel Ltd. A separate Indian contender is Corporate Ispat Alloys Ltd., said Jumriany in a text message listing the bidders.
Iranian Interest
Two Iranian bidders are Gol-e-Gohar Iron Ore Co., one of Iran’s biggest iron ore producers, and Behin Sanate Diba Co., a privately run group of 10 investment, mining and industrial companies, some of which are partly state-owned, said Leyla Rashno, the group’s director for tenders.
Rashno declined in a phone interview in Tehran to say whether the group’s bid has been encouraged or backed by Iran’s government.
Toronto-based Kilo Goldmines, which trades on Canada’s TSX Venture Exchange, focuses mainly on gold mining in the Democratic Republic of Congo.
The other bidder for Hajigak is Acatco LLC, whose owner, Afghan-American businessman Nasir Shansab, lives near Washington and said in a phone interview his partnership, which employs 30 people, would bring in unnamed additional partners to develop the mine.
Indian Strategy
Indian authorities decided to facilitate their country’s group because “it makes business and strategic sense to have a presence in mining in Afghanistan,” Indian Mines Secretary S. Vijay Kumar said in January. Hajigak also may offer India an investment foothold in Afghanistan to rival that of state-owned Metallurgical Corp. of China Ltd., which is developing the country’s biggest copper deposit, at Aynak.
India and Afghanistan accused Pakistan’s army of secretly backing the July 2008 Taliban bomb attack on India’s embassy in Kabul, one of at least three deadly attacks on Indians in the city since that time. Pakistan denied the accusation.
Stalled Parliament
The mines ministry will this month recommend one bid to receive the license, plus one alternate, or reserve, bid, for each of four blocks at Hajigak, a ministry statement said. Ministry spokesman Jawad Omar said the awards will require approval by the cabinet and by Afghanistan’s parliament, where sessions have been stalled by a dispute over which candidates should be seated following disputed elections a year ago.
Hajigak is a range of treeless mountain ridges with a thin population of villagers who graze animals and farm the valleys below. The costs of developing mines will be increased by the need to build paved roads or rail lines to connect the site to potential markets.
While the ultimate cost of mining Hajigak is unclear, Indian companies “should have every reason to go for the Hajigak mines” if the cost of acquisition is about $1 to $1.5 per ton, said Ravindra Deshpande, an analyst with Mumbai-based Elara Securities Ltd.
While the bidders do not include the world’s biggest mining groups, which President Hamid Karzai’s government had hoped to attract, the six contenders represent progress in attracting investors’ interest. Afghanistan canceled a previous tender last year when only one of seven initial competitors showed up to visit the Hajigak site.
Corruption Issue
The U.S. Defense Department has backed efforts to draw in international investors that it says are essential to stabilizing Afghanistan. Still, the decade-old war and corruption remain obstacles. Afghanistan last year tied with Myanmar for the second-worst ranking among 178 countries in Transparency International’s perceived corruption index.
Karzai’s government has pledged to manage and publish its mining contracts under the provisions of the Extractive Industries Transparency Initiative, or EITI, a voluntary anti- corruption regime, Mines Minister Wahidullah Shahrani has said.
EITI, based in Oslo, Norway, advocates rules for improving the transparency of contracts and payments in mining and oil and gas extraction. The group rates 11 countries, including Nigeria, Norway, Liberia and Azerbaijan, as fully compliant, while 23 states, including Afghanistan, Kazakhstan and Indonesia, are pursuing the two-year process to achieve that status.
(sourced Bloomberg)
Thursday, September 1, 2011
WISCO and Century Iron Ore ink mining agreement
Thursday, 01 September 2011
On August 30, Chinese steel producer Wuhan Iron and Steel Co. (WISCO) and Canadian mining company Century Iron Ore Holdings Inc. inked a cooperation agreement to jointly develop iron ore mines in Canada.
Century Iron Ore Holdings owns three iron ore projects in Quebec, Canada. On January 13 this year, the two parties had reached a binding framework agreement on mine development.
Century Iron's three iron ore projects in Quebec will help support Wuhan's strategy of self-sufficiency when it comes to iron ore supplies, reducing its dependence on overseas suppliers. As previously reported by SteelOrbis, Wuhan plans to increase its steel production capacity to 60 million metric tons in the next four years, compared to current levels of 40 million tons.
Tags: iron ore , China , Far East , North America , investments , mining , East Asia and Pacific
On August 30, Chinese steel producer Wuhan Iron and Steel Co. (WISCO) and Canadian mining company Century Iron Ore Holdings Inc. inked a cooperation agreement to jointly develop iron ore mines in Canada.
Century Iron Ore Holdings owns three iron ore projects in Quebec, Canada. On January 13 this year, the two parties had reached a binding framework agreement on mine development.
Century Iron's three iron ore projects in Quebec will help support Wuhan's strategy of self-sufficiency when it comes to iron ore supplies, reducing its dependence on overseas suppliers. As previously reported by SteelOrbis, Wuhan plans to increase its steel production capacity to 60 million metric tons in the next four years, compared to current levels of 40 million tons.
Tags: iron ore , China , Far East , North America , investments , mining , East Asia and Pacific
Friday, August 19, 2011
Global iron ore pellet in 2010 up by 32pct
Friday, 19 Aug 2011
According to a report issued by the United Nations Conference on Trade and Development, in 2010, global iron ore pellet output totaled 388.1 million tonne up by 32% YoY hitting an all-time peak level.
In 2010, China was the world's largest iron ore pellet producing country with an output of 110.3 million tonne. The UNCTAD report points to strong demand in the global iron ore pellet market. More than 5 million tonne of new iron ore pellet production capacities are under construction in China.
In terms of exports, in 2010 Brazil was the world's largest exporter of pellets with an export volume of 53.6 million tonne while Canada ranked second with 21.2 million tonne.
(sourced steelorbis)
According to a report issued by the United Nations Conference on Trade and Development, in 2010, global iron ore pellet output totaled 388.1 million tonne up by 32% YoY hitting an all-time peak level.
In 2010, China was the world's largest iron ore pellet producing country with an output of 110.3 million tonne. The UNCTAD report points to strong demand in the global iron ore pellet market. More than 5 million tonne of new iron ore pellet production capacities are under construction in China.
In terms of exports, in 2010 Brazil was the world's largest exporter of pellets with an export volume of 53.6 million tonne while Canada ranked second with 21.2 million tonne.
(sourced steelorbis)
Tuesday, August 16, 2011
Labrador Iron inks iron ore sale agreement with Iron Ore Company of Canada
Tuesday, 16 Aug 2011
Labrador Iron Mines Holdings Limited report that it has entered into an agreement with the Iron Ore Company of Canada for the sale and shipping of all of LIM's 2011 iron ore production.
Iron ore from LIM's new James Mine in northwest Western Labrador is currently transported by rail from its Silver Yards rail head, near Schefferville, via the TSH railway and the Quebec North Shore and Labrador railway, to the Port of Sept-Iles where the ore is unloaded and stockpiled adjacent to LIM's Point-aux-Basques dock facilities leased from the Port of Sept-Iles.
Under the confidential sales contract with IOC, the iron ore will be delivered to Asian markets and resold by IOC's marketing organization on the spot market. The sale price for iron ore sold to IOC will be based on the actual realized prices to Chinese customers, less an allocation for handling, loading, shipping and sales costs.
IOC is Canada's largest iron ore producer from its mines located in Western Labrador and is a leading global supplier of iron ore pellets and concentrates. IOC's major shareholder and operator is the international mining group Rio Tinto which has activities in more than 40 countries throughout the world. IOC owns 100% of the QNS&L railway and, at the Port of Sept-Iles, owns established storage and ore handling facilities, including its ship dock capable of taking ocean going vessels up to 240,000 DWT tonnes.
LIM has previously entered into a life of mine, confidential rail transportation contract with QNS&L for the rail transportation of LIM's products on the QNS&L railway. This contract provides for a confidential tariff, with capacity and volume commitments on the part of each party.
LIM's agreement with IOC will enable utilization of Cape Size Ocean going ships, where current freight rates are lower than for the alternative but smaller Panamax vessels, for the shipment of LIM's iron ore.
LIM believes that the benefits associated with this arrangement, together with the benefits of the utilization of larger ships, will ensure that the maximum possible tonnage of LIM's iron ore will be efficiently shipped and sold during the remainder of 2011.
Labrador Iron Mines Holdings Limited report that it has entered into an agreement with the Iron Ore Company of Canada for the sale and shipping of all of LIM's 2011 iron ore production.
Iron ore from LIM's new James Mine in northwest Western Labrador is currently transported by rail from its Silver Yards rail head, near Schefferville, via the TSH railway and the Quebec North Shore and Labrador railway, to the Port of Sept-Iles where the ore is unloaded and stockpiled adjacent to LIM's Point-aux-Basques dock facilities leased from the Port of Sept-Iles.
Under the confidential sales contract with IOC, the iron ore will be delivered to Asian markets and resold by IOC's marketing organization on the spot market. The sale price for iron ore sold to IOC will be based on the actual realized prices to Chinese customers, less an allocation for handling, loading, shipping and sales costs.
IOC is Canada's largest iron ore producer from its mines located in Western Labrador and is a leading global supplier of iron ore pellets and concentrates. IOC's major shareholder and operator is the international mining group Rio Tinto which has activities in more than 40 countries throughout the world. IOC owns 100% of the QNS&L railway and, at the Port of Sept-Iles, owns established storage and ore handling facilities, including its ship dock capable of taking ocean going vessels up to 240,000 DWT tonnes.
LIM has previously entered into a life of mine, confidential rail transportation contract with QNS&L for the rail transportation of LIM's products on the QNS&L railway. This contract provides for a confidential tariff, with capacity and volume commitments on the part of each party.
LIM's agreement with IOC will enable utilization of Cape Size Ocean going ships, where current freight rates are lower than for the alternative but smaller Panamax vessels, for the shipment of LIM's iron ore.
LIM believes that the benefits associated with this arrangement, together with the benefits of the utilization of larger ships, will ensure that the maximum possible tonnage of LIM's iron ore will be efficiently shipped and sold during the remainder of 2011.
Saturday, August 13, 2011
Anglo Pacific looks to second half
August13,2011
By Martin Li, Investors chronicle
Disruption from flooding in the first quarter and a planned realignment of mining in the second quarter resulted in coking coal production from the Kestrel mine in Australia, which is Anglo Pacific's key royalty earner, falling by 39 per cent. However, coking coal prices in the six months increased from $220 (£135) per tonne last year to over $310, which offset the lower output.
After a solid performance in a challenging first half, the group is well placed to make progress in the second half, which will be boosted by the first royalties from the El Valle gold-copper mine in Spain. This entered production in June and increases the number of producing royalties in the group's portfolio to five. Reflecting its preference for steelmaking projects, Anglo Pacific has acquired a royalty over chromite deposits in Ontario, Canada, and one over the Isua iron ore project in Greenland being developed by London Mining.
Gains on the sale of investments totalled £7.5m in the six-month period, compared with £17.4m in the first half of last year. Investments are held primarily as a source of future royalties and are sold when the prospect of such royalties appears unlikely. Prior to these results, Liberum Capital was forecasting full-year EPS of 26.5p.
By Martin Li, Investors chronicle
Disruption from flooding in the first quarter and a planned realignment of mining in the second quarter resulted in coking coal production from the Kestrel mine in Australia, which is Anglo Pacific's key royalty earner, falling by 39 per cent. However, coking coal prices in the six months increased from $220 (£135) per tonne last year to over $310, which offset the lower output.
After a solid performance in a challenging first half, the group is well placed to make progress in the second half, which will be boosted by the first royalties from the El Valle gold-copper mine in Spain. This entered production in June and increases the number of producing royalties in the group's portfolio to five. Reflecting its preference for steelmaking projects, Anglo Pacific has acquired a royalty over chromite deposits in Ontario, Canada, and one over the Isua iron ore project in Greenland being developed by London Mining.
Gains on the sale of investments totalled £7.5m in the six-month period, compared with £17.4m in the first half of last year. Investments are held primarily as a source of future royalties and are sold when the prospect of such royalties appears unlikely. Prior to these results, Liberum Capital was forecasting full-year EPS of 26.5p.
Indonesia becomes Second Largest Coking Coal Exporter
August02, 2011
Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’s coking coal exports to Japan claimed 14.40 percent in June compared to May's exports.
Indonesia has exported 742,215 tones of coking coal to Japan in June 2011, up 14.40 percent from previous month. The exported coking coal price was at US$ 144.83/tonne, slightly below from May's export price of US$ 152.65/tonne, according to data released by Ministry of Finance of Japan.
According to ministry’s data, Indonesia is the second biggest exporter of coking coal to Japan followed by Canada in June 2011. Australia the largest coking coal exporter in the world has shipped the biggest quantity of coking coal to Japan, which has exported 3.14 million tones in the June 2011, up 13.6 percent from the previous month.
The average price of Australian’s coking coal sold at US$ 280.51/tonne, up US$ 31.33 compared to May's price of US$ 249.18/ton.
Canada was the third largest coking coal exporter, which has shipped 732,338 tones slightly lesser than Indonesian export in June. The Canadian coking coal was sold at US$ 304.35/ton in June, up US$ 58.87 compared to May's price of US$ 245.48/ton. (sourced coalspot)
Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’s coking coal exports to Japan claimed 14.40 percent in June compared to May's exports.
Indonesia has exported 742,215 tones of coking coal to Japan in June 2011, up 14.40 percent from previous month. The exported coking coal price was at US$ 144.83/tonne, slightly below from May's export price of US$ 152.65/tonne, according to data released by Ministry of Finance of Japan.
According to ministry’s data, Indonesia is the second biggest exporter of coking coal to Japan followed by Canada in June 2011. Australia the largest coking coal exporter in the world has shipped the biggest quantity of coking coal to Japan, which has exported 3.14 million tones in the June 2011, up 13.6 percent from the previous month.
The average price of Australian’s coking coal sold at US$ 280.51/tonne, up US$ 31.33 compared to May's price of US$ 249.18/ton.
Canada was the third largest coking coal exporter, which has shipped 732,338 tones slightly lesser than Indonesian export in June. The Canadian coking coal was sold at US$ 304.35/ton in June, up US$ 58.87 compared to May's price of US$ 245.48/ton. (sourced coalspot)
Sunday, March 6, 2011
Wuhan Steel to buy more overseas resources - Mr Deng Qilin
Sunday, 06 Mar 2011
Mr Deng Qilin President of Wuhan Iron & Steel Group Corp as saying that the company will continue to acquire iron ore resources overseas in an effort to become self sufficient.
Mr Deng said the Chinese steelmaker which currently imports more than 85% of its iron ore aims to be able to supply all of its own needs in three to five years so that it doesn’t need to buy from foreign monopolies.
He said that “Vale SA, Rio Tinto Group and BHP Billiton Ltd, the world biggest iron ore suppliers abandoned an annual pricing system for Chinese steelmakers last year in favor of quarterly agreements as spot prices for the material rose. Wuhan Steel accelerated its buying of assets during the financial crisis to help reduce its reliance on overseas suppliers and now owns or has stakes in eight iron ore mines abroad.”
He added that “Overseas iron ore companies are a monopoly. They can raise prices as much as they want. There is no room for negotiation.”
Mr Deng said “Foreign suppliers are now planning to establish a base at a Chinese port from which they can sell ore at spot prices. This plan will hurt China’s steelmakers to an extent that is too much to afford.”
Wuhan Steel agreed last month to jointly develop mining projects in Canada with Century Iron Mines Corp after entering into an agreement in January with Adriana Resources Inc to cooperate on developing, constructing and operating the Lac Otelnuk iron ore project in Canada.
Tags: Vale SA, biggest iron ore producer and exporters,
Mr Deng Qilin President of Wuhan Iron & Steel Group Corp as saying that the company will continue to acquire iron ore resources overseas in an effort to become self sufficient.
Mr Deng said the Chinese steelmaker which currently imports more than 85% of its iron ore aims to be able to supply all of its own needs in three to five years so that it doesn’t need to buy from foreign monopolies.
He said that “Vale SA, Rio Tinto Group and BHP Billiton Ltd, the world biggest iron ore suppliers abandoned an annual pricing system for Chinese steelmakers last year in favor of quarterly agreements as spot prices for the material rose. Wuhan Steel accelerated its buying of assets during the financial crisis to help reduce its reliance on overseas suppliers and now owns or has stakes in eight iron ore mines abroad.”
He added that “Overseas iron ore companies are a monopoly. They can raise prices as much as they want. There is no room for negotiation.”
Mr Deng said “Foreign suppliers are now planning to establish a base at a Chinese port from which they can sell ore at spot prices. This plan will hurt China’s steelmakers to an extent that is too much to afford.”
Wuhan Steel agreed last month to jointly develop mining projects in Canada with Century Iron Mines Corp after entering into an agreement in January with Adriana Resources Inc to cooperate on developing, constructing and operating the Lac Otelnuk iron ore project in Canada.
Tags: Vale SA, biggest iron ore producer and exporters,
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