Saturday, 28 Jan 2012
Brazilian miner Vale SA is granted an operation license to mine a high grade iron ore pit at Carajas in north Brazil.
The license, granted by environmental authorities, will allow Vale to mine the N5 Sul pit, which is part of the N5 mine in the Serra Norte mining site at Carajas in Para state. This operation will support quality enhancement in iron ore production in Carajas in coming years.
Mr Tito Martins CFO of Vale said that the company is seeking to bring new iron ore reserves into production as reserves at some of its long standing mines, particularly in southeast Brazil, become depleted, reducing the iron content of the ore produced. Iron ore is the key raw material in steelmaking.
Carajas, where Vale already has extensive mining operations, has some of the world's highest quality iron ore reserves but its location in the Amazon has made environmental licensing a challenge in recent years.
The operation license now granted allows the opening of a new ore body in the N5 mine, which has the highest ferrous content within Vale's portfolio, strengthening Vale's position as a producer of high quality iron ore to global markets.
(Sourced from Dow Jones Newswires)
Showing posts with label high grade hematite iron ore reserve. Show all posts
Showing posts with label high grade hematite iron ore reserve. Show all posts
Saturday, January 28, 2012
Thursday, March 31, 2011
Sinosteel and Gindalbie start Australia iron ore shipments
Thu Mar 31, 2011 3:49am GMT
SYDNEY, March 31 (Reuters) - Australia's Gindalbie Metals and Chinese metals group Sinosteel will start shipping iron ore to China on Thursday at a rate of 60,000 per month for eight months, Gindalbie said on Thursday.
Two-thirds of the ore will come from Sinosteel's Koolanooka mine, operated by an Australian subsidiary and the rest from Gindalbie's newly-developed Karara mine under an agreement reached earlier this year, a Gindalbie spokesman said.
Both mines are located in west Australia's Mid West region around 1,000 km (600 miles) south of the traditional Pilbara iron belt dominated by major producers Rio Tinto , BHP Billiton and Fortescue Metals Group , which this year are forecast to ship a combined 500 million tonnes.
High-grade Karara hematite lump ore is currently being loaded onto the Panamax vessel, M.V. "Ju Da", which is scheduled to sail for China on Thursday evening, according to Gindalbie.
Two-thirds of the ore will come from Sinosteel's Koolanooka mine, operated by an Australian subsidiary and the rest from Gindalbie's newly-developed Karara mine under an agreement reached earlier this year, a Gindalbie spokesman said.
Both mines are located in west Australia's Mid West region around 1,000 km (600 miles) south of the traditional Pilbara iron belt dominated by major producers Rio Tinto , BHP Billiton and Fortescue Metals Group , which this year are forecast to ship a combined 500 million tonnes.
High-grade Karara hematite lump ore is currently being loaded onto the Panamax vessel, M.V. "Ju Da", which is scheduled to sail for China on Thursday evening, according to Gindalbie.
Tags : iron ore shipment to China, raw material, steelmaking
Friday, March 18, 2011
RPT-Sundance: Big finds in Cameroon iron ore project
Thu Mar 17, 2011 10:16pm GMT
YAOUNDE, March 17, (Reuters) - Australian mining firm Sundance Resources (SDL.AX: Quote) said on Thursday recent finds at its Mbalam iron ore project in Cameroon had more than doubled the amount of indicated resources in the area.
Indicated resources give the West Africa-focused miner, confidence in the potential of iron ore to be mined in the area.
Sundance said indicated high-grade hematite had more than doubled to 417.7 metric tonnes, following a large drilling programme in the past 12 months, compared with 169 MT previously reported.
News of the find pushed Sundance shares up 9.3 percent on the day.
"This resource estimate further strengthens our confidence of the viability of this project. We are now approaching half a billion tonnes of high quality iron resources and 85 per cent of that is now indicated," Sundance Chief Executive Giulio Casello said in a statement.
"We have a globally significant project capable of producing 35 million tonnes per annum of high-quality iron ore for at least 25 years," he said.
Casello said the first phase of the project consists of a planned railway and deep water port. The company last year delayed the start-up of production to 2013.
The company said in February the estimated $3.4 billion cost of the project was increasing.
(Reporting by Tansa Musa, Writing by Bate Felix, editing by Jane Baird, Reuters)
YAOUNDE, March 17, (Reuters) - Australian mining firm Sundance Resources (SDL.AX: Quote) said on Thursday recent finds at its Mbalam iron ore project in Cameroon had more than doubled the amount of indicated resources in the area.
Indicated resources give the West Africa-focused miner, confidence in the potential of iron ore to be mined in the area.
Sundance said indicated high-grade hematite had more than doubled to 417.7 metric tonnes, following a large drilling programme in the past 12 months, compared with 169 MT previously reported.
News of the find pushed Sundance shares up 9.3 percent on the day.
"This resource estimate further strengthens our confidence of the viability of this project. We are now approaching half a billion tonnes of high quality iron resources and 85 per cent of that is now indicated," Sundance Chief Executive Giulio Casello said in a statement.
"We have a globally significant project capable of producing 35 million tonnes per annum of high-quality iron ore for at least 25 years," he said.
Casello said the first phase of the project consists of a planned railway and deep water port. The company last year delayed the start-up of production to 2013.
The company said in February the estimated $3.4 billion cost of the project was increasing.
(Reporting by Tansa Musa, Writing by Bate Felix, editing by Jane Baird, Reuters)
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