Coal seen rebounding as China sets steel output record
Coking coal prices are set to rebound as early as July from four straight quarterly declines as China and India seek raw material overseas to fire new steel production in the world's fastest-growing...
View ArticleWorldwide steel consumption growth to drop this year
The World Steel Association is cutting its forecasts for global use of the commodity by 1.8% this year, as China – the world’s biggest consumer of steel- has slowed down its growth. The organization,...
View ArticleMMTC inks supply pacts with Japanese, South Korean steel companies
State-owned trading giant MMTC has inked pacts with Japanese and South Korean steel companies including Posco, to supply 2.8 million tonnes of iron ore annually for a period of three years. "We have...
View ArticleTata Steel forecasts improved demand amid European woes
(ChinaPost.com.tw) - India's Tata Steel forecast improving global demand in spite of European woes, as the world's No.7 steelmaker reported a bigger-than-expected drop in quarterly profit after being...
View ArticleThe challenge of developing Ontario's Ring of Fire mines
A $3.3 billion plan to build North America's first major chromite mine deep in the Canadian wilderness promises to usher in an era of prosperity for the region's aboriginals and generate millions of...
View ArticleIndia's Jindal employees in Bolivia arrested and equipment seized for alleged...
Two employees of India’s Jindal Steel and Power were arrested on Friday and equipment confiscated in Bolivia, after the company abandoned its $2.1 billion El-Mutun iron ore project five days ago. The...
View ArticleVale freezes operations at two plants due to falling steel demand
Brazil’s mining giant Vale (NYSE: VALE) will temporarily halt operations at its São Luís and Tubarão I and II pellet plants starting October 8 and November 13 respectively, the firm said in a...
View ArticleArcelorMittal mulls sale of $10 billion Canadian iron ore business
The world's largest steel producer, ArcelorMittal (NYSE:MT) would be considering to sale a stake in its $10 billion Canadian iron ore business, in an attempt to weather the slump in its key commodity....
View ArticlePark to replace infamous tar ponds in Nova Scotia
Canadian authorities revealed on Sunday plans for the final portion of clean-up in the province of Nova Scotia, which will see $17 million spent on a park, sports field and an outdoor stage and...
View ArticleTata Steel disputes $1 billion fine
Tata Steel Ltd. (NSE:TATASTEEL), India’s largest private steelmaker, is contesting a $1 billion fine for allegedly mining above volume limits in the mineral-rich eastern state of Orissa, which...
View ArticleArcelorMittal selling $1.1-billion stake in Canadian iron ore business to Asians
ArcelorMittal (NYSE:MT) has decided to sell off 15% of its Canadian iron ore business, in an attempt to weather the slump in its key commodity. As the biggest steel producer in the world, the company...
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Mining shares lead rally ignited by US fiscal cliff deal
After the US House passed a bill Tuesday undoing the scheduled tax increase for most households, markets have reacted in an exceptionally positive way. The FTSE 100 index rose 139 points to 6,037...
View ArticleGlobal steel director for Brazil’s Vale quits amid division reshuffle
Brazil’s mining giant Vale (NYSE:VALE) has lost its global steel director, Aristides Corbellini (pictured), as part of a downsizing process in the company’s steel division, reported local paper...
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ArcelorMittal lost $3.7 billion in 2012, faces violent protests
Stocks at the world’s top steelmaker by sales, ArcelorMittal (NYSE:MT), were down 1.71% at 10:09 am ET this morning after the company announced Wednesday a $3.7 billion net loss for 2012, triggered by...
View ArticleJapan gets the green light to mine coal in Mozambique
Japan's main steelmaker, Nippon Steel & Sumitomo Metal Corp, announced Thursday it got the necessary permits to start developing Mozambique's Revuboe coking coal mine, a week after Anglo American...
View ArticleGlencore Xstrata fires 1,000 workers at South African chrome mines
Newly merged commodity giant Glencore Xstrata (LON:GLEN) fired Monday about 1,000 workers across three of its chrome mines in South Africa after they staged an illegal strike last week, a spokesman for...
View ArticleSouth Africa weighs peacekeeping force around mines
South Africa’s Labour Minister, Mildred Oliphant, has said the government was “seriously considering” the deployment of peacekeeping forces to contain the new wave of violence affecting the country’s...
View ArticleResearchers think they've solved graphene's biggest problem
Graphene: Hailed across the globe for its lightning speed, ability to remove nuclear waste from water and potential in treating Alzheimers disease. Yet, the 100%-carbon substance has been leading a sad...
View ArticleBolivia to open bids for world’s biggest iron ore deposit
The Bolivian government said Sunday it is preparing a new tender for its Mutún iron ore deposit — believed to contain some of the world's largest reserves of iron ore—and the related steel...
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US Steel taking $1.8 billion writedown
US Steel tower, downtown Pittsburgh | Image from Wikipedia The US' largest steel producer – the United States Steel Corporation (NYSE:X) – will write down $1.8 billion worth of assets this quarter, the...
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