Sunday, 12 Feb 2012
The Federation of Indian Mineral Industries has suggested to the government to take up feasibility study of underground mining in Karnataka's Western Ghats.
In addition to 2.16 billion tonnes of haematite ore deposits in Karnataka, there is magnetite ore to the tune of 7.8 billion tonnes.
Mr Basant Poddar chairman of FIMI South said that “FIMI is ready to support feasibility study between northern boundary of Bababudan Giri hills in Kudremukh up to Goa.”
He added that “Underground mining is successfully working beneath Johannesburg in South Africa and Stockholm in Sweden. This is an option the Government has to consider seriously, to tap magnetite iron ore of 7.8 billion tones.”
FIMI office bearers said mining in Goa and Maharashtra is on the Western Ghats. Why is that they have permission to mine and not in Karnataka, they questioned.
(Sourced from BL)
Showing posts with label iron ore deposits. Show all posts
Showing posts with label iron ore deposits. Show all posts
Sunday, February 12, 2012
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)
Kilo Goldmines comments on award of iron ore block in Afghanistan
Tuesday, 29 Nov 2011
Kilo Goldmines Ltd while responding to press reports that it has been awarded one of four concession blocks comprising the Hajigak iron ore deposit in Afghanistan by the Afghan Ministry of Mines confirmed that it has submitted a bid in response to a request for proposals from the MOM for the mining rights to the four concession block Hajigak iron ore deposit.
The company has not been notified by the MOM of the outcome of the bidding process.
It said “If selected, Kilo would have the exclusive right to negotiate with the MOM for the mining rights to the concession block for which it was selected as a preferred bidder before a final award is made.”
Although the bid was submitted in the name of the Company, the bid was prepared by an independent group, led by David Buckle, a UK based corporate financier, who would be responsible for the financing and management of the project. If awarded, the project would be held in a new entity with Kilo receiving an initial 20% interest, subject to dilution but with no funding obligation. The independent financing and management structure was presented in the bid documents submitted to the MOM. The Principals are required to reimburse Kilo for expenses incurred in the bidding process and to indemnify it for any losses sustained.
The bid was initiated earlier in the year and the Board determined that it would be in the best interests of the Company to continue with the bid given the potential financial benefits and limited downside risk following the agreement of the Principals to reimburse the Company for expenses and provide it with indemnification.
The Hajigak iron ore deposit is situated in the mountainous Bamyan province, 130 km west of the capital, Kabul. It is one of several iron deposits within this area and is the largest located to date.
Kilo Goldmines Ltd is a Canadian gold exploration company operating in the Democratic Republic of Congo. The Company has over 7,000 square kilometers of favorable Archaean Kabalian greenstone in the Kilo Moto area in north eastern DRC. Kilo recently announced an inferred resource on the Adumbi Deposit of the Somituri Project of which the Company owns a 71.25% interest in the DRC entity that holds the Somituri Project Exploitation Permits. The Company is also working on a number of other prospective areas which contain historical workings in the same region. It also has a joint venture with Rio Tinto Ltd. on potential iron ore licences in north eastern DRC.
Kilo Goldmines Ltd while responding to press reports that it has been awarded one of four concession blocks comprising the Hajigak iron ore deposit in Afghanistan by the Afghan Ministry of Mines confirmed that it has submitted a bid in response to a request for proposals from the MOM for the mining rights to the four concession block Hajigak iron ore deposit.
The company has not been notified by the MOM of the outcome of the bidding process.
It said “If selected, Kilo would have the exclusive right to negotiate with the MOM for the mining rights to the concession block for which it was selected as a preferred bidder before a final award is made.”
Although the bid was submitted in the name of the Company, the bid was prepared by an independent group, led by David Buckle, a UK based corporate financier, who would be responsible for the financing and management of the project. If awarded, the project would be held in a new entity with Kilo receiving an initial 20% interest, subject to dilution but with no funding obligation. The independent financing and management structure was presented in the bid documents submitted to the MOM. The Principals are required to reimburse Kilo for expenses incurred in the bidding process and to indemnify it for any losses sustained.
The bid was initiated earlier in the year and the Board determined that it would be in the best interests of the Company to continue with the bid given the potential financial benefits and limited downside risk following the agreement of the Principals to reimburse the Company for expenses and provide it with indemnification.
The Hajigak iron ore deposit is situated in the mountainous Bamyan province, 130 km west of the capital, Kabul. It is one of several iron deposits within this area and is the largest located to date.
Kilo Goldmines Ltd is a Canadian gold exploration company operating in the Democratic Republic of Congo. The Company has over 7,000 square kilometers of favorable Archaean Kabalian greenstone in the Kilo Moto area in north eastern DRC. Kilo recently announced an inferred resource on the Adumbi Deposit of the Somituri Project of which the Company owns a 71.25% interest in the DRC entity that holds the Somituri Project Exploitation Permits. The Company is also working on a number of other prospective areas which contain historical workings in the same region. It also has a joint venture with Rio Tinto Ltd. on potential iron ore licences in north eastern DRC.
Friday, November 18, 2011
Energio on the cusp of major iron ore opportunity in Nigeria
Friday, 18 Nov 2011
Energio is developing a world class iron ore opportunity at the Agbaja Iron Ore Exploration Project in Nigeria, which has resource potential of 1 to 2 billion tonnes of iron ore.
Kogi State is home to the largest iron and steel factory in Nigeria with the full backing of The Federal Government of Nigeria. The licenses have close proximity to existing rail road and power infrastructure provides potential advantages in reduced capital expenditure and allows fast track project development.
Energio aims to complete field programs and drilling program in 2011 with a target of maiden JORC resource in first quarter 2012. Energio has a strong cash position of USD 4.729 million which is sufficient to complete the current round of drilling and take Agbaja to initial resource estimation in mid 2012.
The company will seek approval at the Annual General Meeting to be held on 30 November 2011, for a change to its activities. Energio has exercised its call option with TGP to acquire 100% of the fully paid ordinary shares in KCMH Australia from TGP. KCMH Australia is the holding company of KCM Nigeria which owns of a package of iron ore licenses in Kogi State, Nigeria.
KCMH Australia holds 75% of the shares in KCM Nigeria having recently exercised an option to acquire a further 5% shareholding in KCM Nigeria in return for making cash payment of USD 412,000.
KCMH Australia is an Australian privately owned company which has been focused on acquiring iron ore Licences in Nigeria since 2007. TGP holds 100% of the shares in KCMH Australia.
sourced proactiveinvestors
Energio is developing a world class iron ore opportunity at the Agbaja Iron Ore Exploration Project in Nigeria, which has resource potential of 1 to 2 billion tonnes of iron ore.
Kogi State is home to the largest iron and steel factory in Nigeria with the full backing of The Federal Government of Nigeria. The licenses have close proximity to existing rail road and power infrastructure provides potential advantages in reduced capital expenditure and allows fast track project development.
Energio aims to complete field programs and drilling program in 2011 with a target of maiden JORC resource in first quarter 2012. Energio has a strong cash position of USD 4.729 million which is sufficient to complete the current round of drilling and take Agbaja to initial resource estimation in mid 2012.
The company will seek approval at the Annual General Meeting to be held on 30 November 2011, for a change to its activities. Energio has exercised its call option with TGP to acquire 100% of the fully paid ordinary shares in KCMH Australia from TGP. KCMH Australia is the holding company of KCM Nigeria which owns of a package of iron ore licenses in Kogi State, Nigeria.
KCMH Australia holds 75% of the shares in KCM Nigeria having recently exercised an option to acquire a further 5% shareholding in KCM Nigeria in return for making cash payment of USD 412,000.
KCMH Australia is an Australian privately owned company which has been focused on acquiring iron ore Licences in Nigeria since 2007. TGP holds 100% of the shares in KCMH Australia.
sourced proactiveinvestors
Sunday, November 6, 2011
ABG in iron ore rights deal with Liontown
Sunday, 06 Nov 2011
African Barrick Gold has agreed an iron ore rights deal with Liontown Resources.
The agreement will allow Liontown to explore for iron ore deposits on certain exploration tenements held by ABG in Tanzania.
The agreement allows for Liontown to earn an interest of up to 70% of the iron ore rights on around 530 sq kms of land within the Masabi, Masabi Extension, Siga Hills and Siga Hills North exploration projects.
ABG will retain all rights to minerals discovered other than iron ore and by-products directly associated with iron ore mineralogy.
(sourced StockMarketWire)
African Barrick Gold has agreed an iron ore rights deal with Liontown Resources.
The agreement will allow Liontown to explore for iron ore deposits on certain exploration tenements held by ABG in Tanzania.
The agreement allows for Liontown to earn an interest of up to 70% of the iron ore rights on around 530 sq kms of land within the Masabi, Masabi Extension, Siga Hills and Siga Hills North exploration projects.
ABG will retain all rights to minerals discovered other than iron ore and by-products directly associated with iron ore mineralogy.
(sourced StockMarketWire)
Wednesday, November 2, 2011
Aurium acquires iron and manganese exploration tenement in W. Australia
Wesnesday, 02 November 2011 | sourced steelorbis
Perth-based Western Australian mineral exploration company Aurium Resources Ltd has acquired an iron and manganese exploration tenement in the Earaheedy Basin in Western Australia for a cash consideration of A$15,000.
The exploration tenement covers parts of the iron-rich Frere Formation in the Earaheedy Basin, which is highly prospective for large scale iron ore deposits. The new tenure is also prospective for manganese mineralization.
The manganese potential was recently highlighted with the discovery of high grade manganese (assays to 47.4 percent Mn) by Zenith Minerals at their Red Lake Prospect, 57 kilometers southwest of the tenement.
Tags: iron ore , Australia , raw mat , Oceania , mining , investments
Perth-based Western Australian mineral exploration company Aurium Resources Ltd has acquired an iron and manganese exploration tenement in the Earaheedy Basin in Western Australia for a cash consideration of A$15,000.
The exploration tenement covers parts of the iron-rich Frere Formation in the Earaheedy Basin, which is highly prospective for large scale iron ore deposits. The new tenure is also prospective for manganese mineralization.
The manganese potential was recently highlighted with the discovery of high grade manganese (assays to 47.4 percent Mn) by Zenith Minerals at their Red Lake Prospect, 57 kilometers southwest of the tenement.
Tags: iron ore , Australia , raw mat , Oceania , mining , investments
Friday, September 30, 2011
Iron ore discovery boost for local industry
Friday, 30 Sep 2011
Centrex Metals a significant discovery of more iron ore at its deposits on Lower Eyre Peninsula should help boost the prospects for mining in the region.
The company says an extra 135 million tonnes of magnetite has been found at its Fusion project.
Mr Jim White Managing director says it helps establish a critical mass for other projects in the region. He said that "We will now go and do some more drilling to confirm these resources and to add more certainty so we're still some way away from a mine, which I think it's important to realise. But nonetheless this is a step towards a mine."
(sourced from abc.net.au)
Centrex Metals a significant discovery of more iron ore at its deposits on Lower Eyre Peninsula should help boost the prospects for mining in the region.
The company says an extra 135 million tonnes of magnetite has been found at its Fusion project.
Mr Jim White Managing director says it helps establish a critical mass for other projects in the region. He said that "We will now go and do some more drilling to confirm these resources and to add more certainty so we're still some way away from a mine, which I think it's important to realise. But nonetheless this is a step towards a mine."
(sourced from abc.net.au)
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, August 18, 2011
MMK sued by Bakalskoye Rudoupravleniye iron ore JV partner Atop International - Report
Thursday, 18 Aug 2011
Interfax, citing court documents, reported that OAO Magnitogorsk Iron & Steel was sued by its partner in an iron ore venture after assuming ownership of a license to the venture’s largest ore deposit.
Atop International Group, which holds 49% of the OAO Bakalskoye Rudoupravleniye venture, filed a suit at Chelyabinsk in Russia, after the license to the Techenskoye ore field was transferred to Magnitogorsk.
Magnitogorsk got the license in May following regulatory approval.
Mr Kirill Golubkov, a spokesman for Magnitogorsk, said today by phone when Bloomberg News called, without elaborating that “We see no legitimate grounds for this suit.”
By bloomberg
Friday, July 29, 2011
Hebei Steel Group to develop Changyu iron ore deposit
Friday, 29 Jul 2011|steelorbis
It is reported that Major Chinese steelmaker Hebei Iron and Steel Group as well as Chinese companies Hebei Yinghua Mineral and Tangshan Donghai Steel have established Changyu Iron Ore Company to develop the Changyu iron ore deposit in Xiangtang, Luanxian County, Tangshan City, Hebei Province, China.
The deposit in question consists of magnetite iron ore of average iron content of 29.24% with proven reserves of 120 million tonnes.
It is reported that Major Chinese steelmaker Hebei Iron and Steel Group as well as Chinese companies Hebei Yinghua Mineral and Tangshan Donghai Steel have established Changyu Iron Ore Company to develop the Changyu iron ore deposit in Xiangtang, Luanxian County, Tangshan City, Hebei Province, China.
The deposit in question consists of magnetite iron ore of average iron content of 29.24% with proven reserves of 120 million tonnes.
Tuesday, July 26, 2011
RINL to get iron ore mining rights at Rajasthan - Report
Tuesday, 26 Jul 2011 |By ET
ET citing, 2 people directly involved in the development, reported that government is close to granting mining rights to Rashtriya Ispat Nigam at Bhilwara in Rajasthan.
As per report, RINL will get 350 million tonnes of iron ore.
Iron ore in Bhilwara has a ferrous content of about 45% to 50%.
Earlier this year, Jindal Saw entered into an agreement with Rajasthan giving it rights to at least 180 million tonnes of ore with a ferrous content of about 30%.
Wednesday, March 23, 2011
Rinehart told to share iron ore deposit
March 23, 2011, 5:13 am
By Kate Emery, The West Australian
Australia's richest woman Gina Rinehart faces the prospect of having to hand over a 25 per cent stake in the Rhodes Ridge iron ore deposit within a month of her appeals over a 10-year legal battle being officially exhausted.
A year after the Supreme Court ruled that the children of Lang Hancock's late business partner Peter Wright were entitled to wrest the stake from Ms Rinehart - Mr Hancock's daughter - the court's final orders were delivered yesterday.
Although the outcome of the appeals process is not yet known, if Ms Rinehart is unsuccessful she will have 28 days to transfer the stake.
Ms Rinehart is expected to take the fight to the High Court if she is unsuccessful in the Court of Appeal.
A year after the Supreme Court ruled that the children of Lang Hancock's late business partner Peter Wright were entitled to wrest the stake from Ms Rinehart - Mr Hancock's daughter - the court's final orders were delivered yesterday.
Although the outcome of the appeals process is not yet known, if Ms Rinehart is unsuccessful she will have 28 days to transfer the stake.
Ms Rinehart is expected to take the fight to the High Court if she is unsuccessful in the Court of Appeal.
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Wednesday, February 23, 2011
Afripalm and India's SAIL sign steel mill pact
Wed Feb 23, 2011 4:24pm GM
* Feasibility study for 3-5 mln tonnes plant in SAfrica
* Mill expected to cost $2.95 billion
* Afripalm says SAIL to have big management role
JOHANNESBURG, Feb 23 (Reuters) - South Africa's Afripalm Resources signed a memorandum of understanding with Steel Authority of India (SAIL.BO: Quote) to build a steel mill in South Africa, Afripalm Chairman Lazarus Zim said on Wednesday.
The companies would conduct a feasibility study for a 21 billion rand ($2.95 billion) plant, expected to produce 3-5 million tonnes of steel a year, Zim said.
"There is a domestic market for steel and an export market. We believe South Africa has significant iron ore deposits and there is room for another steel mill," Zim told Reuters in an interview.
He said the feasibility study, expected to take six months, would start in the next few weeks.
Zim also said the Indian firm, also known as SAIL, would have a leading management role in the running of the plant, which is expected to take three to four years to build.
"We will sit down and decide who does what but (SAIL) will play a big role in management," Zim said.
Zim resigned last year from the board of Kumba Iron Ore (KIOJ.J: Quote), the world's 10th-largest iron ore supplier, to start a new steel firm.
The South African steel market is dominated by ArcelorMittal South Africa (ACLJ.J: Quote), a unit of the world's largest steel producer.
The government has accused ArcelorMittal of charging excessive prices to the detriment of the local steel industry and for failing to pass to consumers the benefits of an iron ore discount it used to receive from Kumba.
State-run SAIL said this week it plans to spend $12 billion to build four overseas plants in Indonesia, Oman, Mongolia and South Africa. [ID:nSGE71K04N]
($1=7.118 Rand)
(Reporting by Agnieszka Flak and Olivia Kumwenda; Editing by Jon Herskovitz and David Hulmes,sourced:Thomson Reuters)
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