Irish zinc explorer Connemara Mining has struck a high grade zinc-lead deposit with the first drill hole of its 2009 drilling programme in Limerick, the company said today.
The drill hole, which is located 1.5km northwest of an earlier discovery at Stonepark, could represent a new and potentially higher grade mineralisation zone.
“This is a very positive result," company chairman John Teeling said.
"The discovery has almost everything one would want – high grade, the right type of mineralisation, shallow depth and is located a good distance from the earlier discovery."
The drilling programme is being operated by Teck Ireland Ltd., a subsidiary of Teck Resources Limited, Canada’s largest diversified mining company.
Source: Irish Examiner
Saturday, September 5, 2009
Indonesia's Paiton Announces Coal Contracts
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk and PT Kideco Jaya Agung at a recent tender, a source close to the deal said on Friday.
PT Paiton Energy runs Paiton I power plant in East Java, which has generating capacity of 1,230 megawatts (MW). It opened the tender in early August to seek coal for its Paiton 3 expansion project.
PT Adaro Energy will supply 2 million tonnes a year of coal of 5,000 kcal/kg gross as-received (GAR), at $57.5 a ton, FOB basis, the source said.
PT Kideco, in which PT Indika Energy Tbk has a 46 percent stake, will supply 1 million tonnes a year of coal of 4,900 kcal/kg GAR, at $55.20 per tonne, FOB, the source said.
Coal tenders by independent power projects must be approved by state electricity firm PT Perusahaan Listrik Negara (PLN), which is a monopoly power supplier in Indonesia and operates 25,000 MW of capacity.
"The deal is in the process of approval by PLN. The coal will be supplied in 2011," the source said.
The Paiton 3 expansion project is developing a 815 MW coal-fired power plant that is scheduled to start operating in early 2012.
The coal will be supplied for five years with up to three further terms of five years each at Paiton Energy's sole option, Paiton Energy said in its tender announcement.
Paiton Energy's expansion project will be part of the second phase of the government's crash programme to increase generating capacity in a bid to ease the country's chronic power shortages.
The government launched the first phase of the programme to add 10,000 MW generating capacity from 35 new coal-fired power plants, which are mostly still under construction.
Three new coal-fired power plants, with total generating capacity of 1,960 MW, are expected to start commercial operation later this year and the whole project is expected to be completed in 2011.
The government is still finalising the second phase of the crash programme which will add another 10,000 MW using coal, geothermal and renewable energy resources.
Source: Reuters
PT Paiton Energy runs Paiton I power plant in East Java, which has generating capacity of 1,230 megawatts (MW). It opened the tender in early August to seek coal for its Paiton 3 expansion project.
PT Adaro Energy will supply 2 million tonnes a year of coal of 5,000 kcal/kg gross as-received (GAR), at $57.5 a ton, FOB basis, the source said.
PT Kideco, in which PT Indika Energy Tbk has a 46 percent stake, will supply 1 million tonnes a year of coal of 4,900 kcal/kg GAR, at $55.20 per tonne, FOB, the source said.
Coal tenders by independent power projects must be approved by state electricity firm PT Perusahaan Listrik Negara (PLN), which is a monopoly power supplier in Indonesia and operates 25,000 MW of capacity.
"The deal is in the process of approval by PLN. The coal will be supplied in 2011," the source said.
The Paiton 3 expansion project is developing a 815 MW coal-fired power plant that is scheduled to start operating in early 2012.
The coal will be supplied for five years with up to three further terms of five years each at Paiton Energy's sole option, Paiton Energy said in its tender announcement.
Paiton Energy's expansion project will be part of the second phase of the government's crash programme to increase generating capacity in a bid to ease the country's chronic power shortages.
The government launched the first phase of the programme to add 10,000 MW generating capacity from 35 new coal-fired power plants, which are mostly still under construction.
Three new coal-fired power plants, with total generating capacity of 1,960 MW, are expected to start commercial operation later this year and the whole project is expected to be completed in 2011.
The government is still finalising the second phase of the crash programme which will add another 10,000 MW using coal, geothermal and renewable energy resources.
Source: Reuters
Yemen To Export Zinc And Silver By 2010
Yemen is to export the first shipment of zinc and silver by the beginning of 2010, a source at the General Board for Survey and Geology said on Thursday.
The first quantities will be produced at the Sulb Mountain in Nehm area, 110 km northeast of the capital, Sana'a.
50 percent of the Zinc and Sliver Plant there has been completed so far, and construction works would be completed by 2009.
The project is deemed a milestone in the mining sector which grew by 6 percent over the last two years.
About 24 companies are working on mining in Yemen providing jobs for 11.800 people, recent studies reveal.
More efforts are exerted by the authorities to improve the sector and increase mining sites, with studies being conducted in association with specialized foreign companies.
Source: Yemen Post
The first quantities will be produced at the Sulb Mountain in Nehm area, 110 km northeast of the capital, Sana'a.
50 percent of the Zinc and Sliver Plant there has been completed so far, and construction works would be completed by 2009.
The project is deemed a milestone in the mining sector which grew by 6 percent over the last two years.
About 24 companies are working on mining in Yemen providing jobs for 11.800 people, recent studies reveal.
More efforts are exerted by the authorities to improve the sector and increase mining sites, with studies being conducted in association with specialized foreign companies.
Source: Yemen Post
Thursday, September 3, 2009
Taiyuan Looking To Invest In Australia
Taiyuan Iron & Steel Group, China’s biggest stainless-steel producer, is looking to invest in iron ore and nickel resources in Australia and other countries, Chairman Li Xiaobo said.
“We are chasing some iron ore projects as well as nickel,” Li said in an interview in Shanghai, declining to give details. “So far we haven’t settle on a good target.”
Chinese companies, the biggest buyer of iron ore and nickel, are hunting for steelmaking raw materials as output of crude steel jumped to a record this year. Baosteel Group Corp., the nation’s largest mill, last month agreed to buy 15 percent of Aquila Resources Ltd., an Australian iron ore and coal company.
“We’re seeking overseas development for low-cost and steady supplies,” Chai Zhiyong, vice president of Shanxi Taigang Stainless Steel Co., Taiyuan’s listed unit, said. Chai and Li made the comments yesterday while attending a conference.
Taigang gained as much as 6.1 percent to 7.95 yuan in Shenzhen today, trading at 7.88 yuan by the 11:30 a.m. local time break. The benchmark Shanghai Composite Index gained 3.5 percent.
Taigang, the stainless steel-producing unit of Taiyuan Group, may increase output by 34 percent this year to a record 2.4 million metric tons as the Chinese government’s stimulus spending spurred demand and bolstered prices, Chai said yesterday.
Source: Bloomberg
“We are chasing some iron ore projects as well as nickel,” Li said in an interview in Shanghai, declining to give details. “So far we haven’t settle on a good target.”
Chinese companies, the biggest buyer of iron ore and nickel, are hunting for steelmaking raw materials as output of crude steel jumped to a record this year. Baosteel Group Corp., the nation’s largest mill, last month agreed to buy 15 percent of Aquila Resources Ltd., an Australian iron ore and coal company.
“We’re seeking overseas development for low-cost and steady supplies,” Chai Zhiyong, vice president of Shanxi Taigang Stainless Steel Co., Taiyuan’s listed unit, said. Chai and Li made the comments yesterday while attending a conference.
Taigang gained as much as 6.1 percent to 7.95 yuan in Shenzhen today, trading at 7.88 yuan by the 11:30 a.m. local time break. The benchmark Shanghai Composite Index gained 3.5 percent.
Taigang, the stainless steel-producing unit of Taiyuan Group, may increase output by 34 percent this year to a record 2.4 million metric tons as the Chinese government’s stimulus spending spurred demand and bolstered prices, Chai said yesterday.
Source: Bloomberg
Cliffs To Increase Production At Minnesota Iron Ore Pellet Plant
Cleveland-based Cliffs Natural Resources will increase production at its United Taconite subsidiary, which produces iron-ore pellets from a mine and plant in Minnesota, the firm said on Wednesday.
United Taconite has been operating on a 32-hour work week since November 2008, when one of its two operating furnaces was idled due to weak demand from steelmakers for iron-ore.
The operation will now ramp up to a 40-hour week, over September and October, the company said.
After the September 7 Labour day holiday, mining operations will increase at the Thunderbird mine, and production will subsequently increase in October at the concentrator portion of the facility.
Full start-up of the Line 1 furnace, which has been idled since the end of October 2008, is expected in early November.
"Cliffs Natural Resources is pleased United Taconite management and the union have been able to work cooperatively to keep everyone employed during these difficult economic times and avoid layoffs," Cliffs North America president Donald Gallagher said in a statement.
United Taconite previously operated as EVTAC Mining Company and was idled in 2003 when EVTAC filed for bankruptcy. Cliffs Natural Resources and Laiwu Steel Group bought the mine assets and reopened the facility as United Taconite in December of 2003.
Cliffs bought Laiwu's interest in July last year and the operation produced 5,1-million tons of iron ore in 2008, according to the company's website.
Source: Mining Weekly
United Taconite has been operating on a 32-hour work week since November 2008, when one of its two operating furnaces was idled due to weak demand from steelmakers for iron-ore.
The operation will now ramp up to a 40-hour week, over September and October, the company said.
After the September 7 Labour day holiday, mining operations will increase at the Thunderbird mine, and production will subsequently increase in October at the concentrator portion of the facility.
Full start-up of the Line 1 furnace, which has been idled since the end of October 2008, is expected in early November.
"Cliffs Natural Resources is pleased United Taconite management and the union have been able to work cooperatively to keep everyone employed during these difficult economic times and avoid layoffs," Cliffs North America president Donald Gallagher said in a statement.
United Taconite previously operated as EVTAC Mining Company and was idled in 2003 when EVTAC filed for bankruptcy. Cliffs Natural Resources and Laiwu Steel Group bought the mine assets and reopened the facility as United Taconite in December of 2003.
Cliffs bought Laiwu's interest in July last year and the operation produced 5,1-million tons of iron ore in 2008, according to the company's website.
Source: Mining Weekly
ICVL Looking To Buy Indonesian Coal Blocks
After losing bids to acquire coal mines in Mozambique and Australia, International Coal and Ventures Ltd, or ICVL, a company set up by five Indian state-owned firms, is in talks with the Indonesian government to buy coal blocks in that country, a senior official of the ministry of steel said last week.
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13, said Pramod Kumar Rastogi, secretary, ministry of steel. Coking coal is one of the two important inputs for steel making, the other being iron ore. India is self-reliant in iron ore but imports almost 70% of its 25-30 mt annual coking coal requirement.
A delegation from ICVL recently returned from Indonesia after preliminary discussions with the Indonesian government. It will be followed by another delegation. Rastogi did not provide more details about the potential deal.
ICVL—funded by Steel Authority of India Ltd, NMDC Ltd, Coal India Ltd (CIL), NTPC Ltd and Rashtriya Ispat Nigam Ltd—has been trying to acquire blocks in the US, New Zealand and Canada. While CIL was allocated two coal blocks at Motaize in Mozambique in March for thermal coal, used in power plants, ICVL has not yet had any success with coking coal.
Indian steel firms have big expansion plans to meet anticipated demand from the housing, consumer goods and infrastructure sectors. “Hence, it is critical to secure supplies of coking coal by owning captive coal blocks,” Rastogi said.
Arvind Mahajan, executive director at consulting firm KPMG India Pvt. Ltd, said it is critical that a company has access to regular coal supply, both coking and thermal coal, to help minimize price fluctuations. “Though most steel makers have long term supply contracts for raw materials, these are not long term in a real sense,” he said. Most of the contracts are not long enough to hedge steel makers against price fluctuations.
Private firms have been more successful at securing long-term supplies than public sector companies. For example, Tata Steel Ltd aims to ensure secured supply of 60% of its raw materials by 2015, up from 25% now, by strengthening its holdings in overseas mines. In July, Tata Steel Global Minerals Holdings Pte Ltd, a wholly-owned subsidiary of Tata Steel, bought additional shares in Australia-based Riversdale Mining Ltd through market purchases, increasing its holding to 19.38%. It is also evaluating several mines in Brazil and Australia. On 28 August, The Economic Times reported that JSW group is in advanced talks to acquire coal mines in Swaziland in Africa.
Rastogi said the current downturn in the global steel industry makes this a good time to secure supplies before prices of coal blocks firm up as demand revives.
Source: Livemint
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13, said Pramod Kumar Rastogi, secretary, ministry of steel. Coking coal is one of the two important inputs for steel making, the other being iron ore. India is self-reliant in iron ore but imports almost 70% of its 25-30 mt annual coking coal requirement.
A delegation from ICVL recently returned from Indonesia after preliminary discussions with the Indonesian government. It will be followed by another delegation. Rastogi did not provide more details about the potential deal.
ICVL—funded by Steel Authority of India Ltd, NMDC Ltd, Coal India Ltd (CIL), NTPC Ltd and Rashtriya Ispat Nigam Ltd—has been trying to acquire blocks in the US, New Zealand and Canada. While CIL was allocated two coal blocks at Motaize in Mozambique in March for thermal coal, used in power plants, ICVL has not yet had any success with coking coal.
Indian steel firms have big expansion plans to meet anticipated demand from the housing, consumer goods and infrastructure sectors. “Hence, it is critical to secure supplies of coking coal by owning captive coal blocks,” Rastogi said.
Arvind Mahajan, executive director at consulting firm KPMG India Pvt. Ltd, said it is critical that a company has access to regular coal supply, both coking and thermal coal, to help minimize price fluctuations. “Though most steel makers have long term supply contracts for raw materials, these are not long term in a real sense,” he said. Most of the contracts are not long enough to hedge steel makers against price fluctuations.
Private firms have been more successful at securing long-term supplies than public sector companies. For example, Tata Steel Ltd aims to ensure secured supply of 60% of its raw materials by 2015, up from 25% now, by strengthening its holdings in overseas mines. In July, Tata Steel Global Minerals Holdings Pte Ltd, a wholly-owned subsidiary of Tata Steel, bought additional shares in Australia-based Riversdale Mining Ltd through market purchases, increasing its holding to 19.38%. It is also evaluating several mines in Brazil and Australia. On 28 August, The Economic Times reported that JSW group is in advanced talks to acquire coal mines in Swaziland in Africa.
Rastogi said the current downturn in the global steel industry makes this a good time to secure supplies before prices of coal blocks firm up as demand revives.
Source: Livemint
Wednesday, September 2, 2009
Vietnam To Revoke Tiberon Tungsten Licence
Vietnam will probably revoke the license for a Tiberon Minerals Ltd. mining project, which may hold one of the world’s largest tungsten deposits outside China, because of delays, the government said on Tuesday.
Vietnam’s Prime Minister Nguyen Tan Dung has instructed the Ministry of Natural Resources and Environment and the government in the northern Thai Nguyen province, where the mine is located, to examine the US$147 million Nuiphaovica project and “terminate its investment and mining licenses if any violations are found,” according to a statement on the cabinet’s website.
“We haven’t received any official announcement from the Vietnamese government and so we have no comment for now,” Phan Minh Tuan, a director at Ho Chi Minh City-based Dragon Capital Group, which runs a fund that bought Tiberon in 2007, said by telephone from Hanoi Tuesday.
Tuan, who is also the chairman of the Nuiphaovica venture that developed the mine, estimates the total cost of the project at $400 million.
Tungsten, used in light-bulb filaments and to strengthen steel, may advance to near a record in 2013 as China, the world’s biggest producer, is expected to restrict exports to conserve domestic supplies as the country’s market faces a deficit, the CRU Group said last week.
Chinese demand will climb 8.1 percent a year from 2009 to 2013, outpacing a 2.7 percent average annual gain in domestic mine production, the London-based commodity research and advisory group said.
Spot prices of the metal have declined 33 percent since reaching a peak of $295 a metric ton unit, or 10 kilograms, in 2005. The spot price in Europe was $197.50 on August 28. Markets were closed Monday.
Toronto-based Tiberon, which got permission to start developing the Vietnam mine in 2004, in October asked the local government to delay starting production until 2010 because of the global financial crisis, Vietnam Investment Review newspaper reported Monday. Tiberon has a 70 percent stake in the mine.
“We informally told Tiberon last week about the possibility of terminating the project and withdrawing its license,” Nguyen Duc Minh, head of Thai Nguyen province’s Department for Planning and Investment said by telephone Tuesday. “There’s no clear plan yet as to how the project will continue, however the prime minister may want to give it to a big state- owned company,” he said.
Tiberon in September 2006 said it planned to start production this year. The mine was expected to yield 4,788 metric tons of tungsten, 222,458 tons of fluorspar and 2,038 tons of bismuth a year, according to the company.
Source: Thanh Nien
Vietnam’s Prime Minister Nguyen Tan Dung has instructed the Ministry of Natural Resources and Environment and the government in the northern Thai Nguyen province, where the mine is located, to examine the US$147 million Nuiphaovica project and “terminate its investment and mining licenses if any violations are found,” according to a statement on the cabinet’s website.
“We haven’t received any official announcement from the Vietnamese government and so we have no comment for now,” Phan Minh Tuan, a director at Ho Chi Minh City-based Dragon Capital Group, which runs a fund that bought Tiberon in 2007, said by telephone from Hanoi Tuesday.
Tuan, who is also the chairman of the Nuiphaovica venture that developed the mine, estimates the total cost of the project at $400 million.
Tungsten, used in light-bulb filaments and to strengthen steel, may advance to near a record in 2013 as China, the world’s biggest producer, is expected to restrict exports to conserve domestic supplies as the country’s market faces a deficit, the CRU Group said last week.
Chinese demand will climb 8.1 percent a year from 2009 to 2013, outpacing a 2.7 percent average annual gain in domestic mine production, the London-based commodity research and advisory group said.
Spot prices of the metal have declined 33 percent since reaching a peak of $295 a metric ton unit, or 10 kilograms, in 2005. The spot price in Europe was $197.50 on August 28. Markets were closed Monday.
Toronto-based Tiberon, which got permission to start developing the Vietnam mine in 2004, in October asked the local government to delay starting production until 2010 because of the global financial crisis, Vietnam Investment Review newspaper reported Monday. Tiberon has a 70 percent stake in the mine.
“We informally told Tiberon last week about the possibility of terminating the project and withdrawing its license,” Nguyen Duc Minh, head of Thai Nguyen province’s Department for Planning and Investment said by telephone Tuesday. “There’s no clear plan yet as to how the project will continue, however the prime minister may want to give it to a big state- owned company,” he said.
Tiberon in September 2006 said it planned to start production this year. The mine was expected to yield 4,788 metric tons of tungsten, 222,458 tons of fluorspar and 2,038 tons of bismuth a year, according to the company.
Source: Thanh Nien
BHP To End Cobalt Spot Sales
BHP Billiton Plc, the world’s largest mining company, plans to stop spot cobalt sales to get “better returns” from an alternative marketing system.
“Once current stocks are exhausted, BHP Billiton does not anticipate being in a position to offer cobalt metal on the spot market in the foreseeable future,” BHP’s London-based spokesman Illtud Harri said in an e-mail. BHP has “alternative arrangements” to sell cobalt, he said, declining to say if that means sales by contract.
The price of cobalt, used in rechargeable batteries and made from nickel production, has climbed 11 percent this year to $19.50 a pound, according to Metal Bulletin.
BHP’s cobalt production at Yabulu, Australia, was 400,000 metric tons in the second quarter compared with 500,000 tons in the same period a year earlier, according to the company’s July 22 production report.
SourcE: Bloomberg
“Once current stocks are exhausted, BHP Billiton does not anticipate being in a position to offer cobalt metal on the spot market in the foreseeable future,” BHP’s London-based spokesman Illtud Harri said in an e-mail. BHP has “alternative arrangements” to sell cobalt, he said, declining to say if that means sales by contract.
The price of cobalt, used in rechargeable batteries and made from nickel production, has climbed 11 percent this year to $19.50 a pound, according to Metal Bulletin.
BHP’s cobalt production at Yabulu, Australia, was 400,000 metric tons in the second quarter compared with 500,000 tons in the same period a year earlier, according to the company’s July 22 production report.
SourcE: Bloomberg
Goa Exporters Wary Of Iron Ore Competition
Iron ore exporters of Goa are worried about plunged prices and uncertain market as they prepare to enter new season this month.
"We expect a very bad season ahead. The ore prices have come down from 115 dollars per ton to 61 dollars per ton in last three weeks," Director, Salgaoncar mining industry, Sameer Salgaoncar told PTI today.
Goa, India's hub of Iron ore export, will usher into a new season on September 15, as the monsoon is clearing off from the coastal state.
Wary of strong Australian presence in China market, the Goan exporters who supply around 33 million tones iron ore annually fears massive slump in the pricing and also the export figures to go down.
"Compared to giants in Australia, the Goan exporters are relatively weak. We will have to withstand the competition which will translate into reduced prices," Salgaoncar said.
According to Goa Mineral Ore exporters association (GMOAE) the reduction in the incentives offered by China to steel firms will translate into decreased pricing of the ore.
Australia and Brazil are in the competition with India, which means the rates would be more competitive now. Australia is a threat but we need to face it, GMOEA director, S Sridhar said.
Source: Samay Live
"We expect a very bad season ahead. The ore prices have come down from 115 dollars per ton to 61 dollars per ton in last three weeks," Director, Salgaoncar mining industry, Sameer Salgaoncar told PTI today.
Goa, India's hub of Iron ore export, will usher into a new season on September 15, as the monsoon is clearing off from the coastal state.
Wary of strong Australian presence in China market, the Goan exporters who supply around 33 million tones iron ore annually fears massive slump in the pricing and also the export figures to go down.
"Compared to giants in Australia, the Goan exporters are relatively weak. We will have to withstand the competition which will translate into reduced prices," Salgaoncar said.
According to Goa Mineral Ore exporters association (GMOAE) the reduction in the incentives offered by China to steel firms will translate into decreased pricing of the ore.
Australia and Brazil are in the competition with India, which means the rates would be more competitive now. Australia is a threat but we need to face it, GMOEA director, S Sridhar said.
Source: Samay Live
Ferrexpo Iron Ore Pellets Falls Slightly
Ukranian iron ore producer Ferrexpo Plc said pellet output fell 2.0 percent in August from the year-earlier period and that production remained at full capacity.
Total pellet production from its own raw materials declined to 746,900 tonnes from 761,800 tonnes in August 2008, the London-listed company said on Tuesday on its website.
It also processed 15,800 tonnes of pellets from purchased concentrate, bringing overall pellet output to 762,700 tonnes, down 9.3 percent.
Overall pellet production for the year to date fell 9.6 percent to 5.66 million tonnes.
The company released interim results on Aug. 5, saying it expects to be more profitable in the second half after trading reached a low point in the six months to end June.
Source: Forbes
Total pellet production from its own raw materials declined to 746,900 tonnes from 761,800 tonnes in August 2008, the London-listed company said on Tuesday on its website.
It also processed 15,800 tonnes of pellets from purchased concentrate, bringing overall pellet output to 762,700 tonnes, down 9.3 percent.
Overall pellet production for the year to date fell 9.6 percent to 5.66 million tonnes.
The company released interim results on Aug. 5, saying it expects to be more profitable in the second half after trading reached a low point in the six months to end June.
Source: Forbes
Tuesday, September 1, 2009
Goa Mines Under Government Scanner
Ninety-one out of the 103 operators of leased mines in Goa are under the government scanner for possible violation of environmental norms, a senior official said Tuesday. Of these, 78 operators had been issued notices to submit official documentation and details of clearances submitted to the environment and forest ministry, said Goa State Pollution Control Board chairman Simon de Souza.
"This is apart from the 13 stop-work orders we issued to operators who are mining without clearances from the forest department and the chief wildlife warden," de Souza told reporters here.
The 78 mining lease operators have been asked to submit relevant documents within 15 days or face closure.
SourcE: Samay Live
"It is observed that you are required to obtain approval from the chief wildlife warden and clearances under the Forest Conservation Act. You are required to submit a copy of the approvals issued by the chief wildlife warden and the clearance within 15 days of the receipt of letter," said a pollution control notice, dated Aug 14, to them.
"Till Aug 31, no mining company has submitted any documentation. If they do not produce documents, we will issue showcause notice and then suspend operations," de Souza said.
Goa's 103 leased mines produce 33 million tonnes of iron ore, bauxite and manganese ore, which are exported largely to China and Japan.
"This is apart from the 13 stop-work orders we issued to operators who are mining without clearances from the forest department and the chief wildlife warden," de Souza told reporters here.
The 78 mining lease operators have been asked to submit relevant documents within 15 days or face closure.
SourcE: Samay Live
"It is observed that you are required to obtain approval from the chief wildlife warden and clearances under the Forest Conservation Act. You are required to submit a copy of the approvals issued by the chief wildlife warden and the clearance within 15 days of the receipt of letter," said a pollution control notice, dated Aug 14, to them.
"Till Aug 31, no mining company has submitted any documentation. If they do not produce documents, we will issue showcause notice and then suspend operations," de Souza said.
Goa's 103 leased mines produce 33 million tonnes of iron ore, bauxite and manganese ore, which are exported largely to China and Japan.
Moly Mines In Iron Ore Talks With China
Moly Mines Ltd is in talks with small-to-medium size Chinese steel mills regarding iron ore sales from its Spinifex Ridge project near Marble Bar in Western Australia where molybdenum remains the main prize.
"We've got a lot of interest," chief executive Derek Fisher told AAP on Tuesday.
"We've had a number of trading companies approach us and we have proposals in front of us.
"We're in discussions with Chinese parties and things will move rapidly on that front."
Moly Mines also announced on Tuesday it had secured port capacity for its planned iron ore output at the common-user Utah Point export facility being constructed at Port Hedland.
The company, which is restructuring substantial debt, on Monday revealed it sought to achieve early cashflow by mining iron ore before molybdenum at Spinifex Ridge.
Moly Mines has been allocated an initial 800,000 tonnes of capacity at Utah Point for 20 months, commencing in July next year.
Mr Fisher said port access was the only remaining major logistical barrier for the development of the iron ore project, which would be small scale, starting at one million tonnes per annum (Mtpa).
He said output could rise to 2 Mtpa "if we get additional capacity", possibly at Fortescue Metals Group Ltd's port facilities at Port Hedland.
Mr Fisher said cashflow from the iron ore project could support Moly Mines for five years,"assuming a successful capital raising which we will be launching shortly".
"The iron ore supports the company until financing for Spinifex Ridge molybdenum comes through, and that's obviously dependent on the revitalisation of the world debt markets."
Source: WA Today
"We've got a lot of interest," chief executive Derek Fisher told AAP on Tuesday.
"We've had a number of trading companies approach us and we have proposals in front of us.
"We're in discussions with Chinese parties and things will move rapidly on that front."
Moly Mines also announced on Tuesday it had secured port capacity for its planned iron ore output at the common-user Utah Point export facility being constructed at Port Hedland.
The company, which is restructuring substantial debt, on Monday revealed it sought to achieve early cashflow by mining iron ore before molybdenum at Spinifex Ridge.
Moly Mines has been allocated an initial 800,000 tonnes of capacity at Utah Point for 20 months, commencing in July next year.
Mr Fisher said port access was the only remaining major logistical barrier for the development of the iron ore project, which would be small scale, starting at one million tonnes per annum (Mtpa).
He said output could rise to 2 Mtpa "if we get additional capacity", possibly at Fortescue Metals Group Ltd's port facilities at Port Hedland.
Mr Fisher said cashflow from the iron ore project could support Moly Mines for five years,"assuming a successful capital raising which we will be launching shortly".
"The iron ore supports the company until financing for Spinifex Ridge molybdenum comes through, and that's obviously dependent on the revitalisation of the world debt markets."
Source: WA Today
Steel Prices "Will Recover On Healthy Demand"
Baoshan Iron and Steel Company, China's largest steel maker, says that it expects steel prices to recover from recent declines because of increasing demand from manufacturers.
There was "healthy" demand and the global economy was on the path of recovery after its "most difficult period", Baoshan president Ma Guoqiang said yesterday.
Benchmark Chinese steel prices have dropped 13% since August 4 after gains this year led buyers to run down stocks. Baoshan Steel's profit would rise "significantly" in the second half from the first six months as demand and prices recovered, vicepresident Chen Ying said.
"The most difficult period for the world economy has gone," Ma said. "The economy will recover next year, although the pace won't be fast."
There is strong steel demand from the car, appliance, machinery, oil tanker and power grid industries, and orders for Baoshan were "good".
Baoshan said last Friday that first-half profit plunged 93% because of the economic slowdown. The company is running at full capacity utilisation, Ma said. Baoshan plans to raise output of stainless steel "moderately" in the second half, Chen said.
China's steel output reached a record in July and prices have soared as much as 38% since the government announced a 4-trillion yuan (586bn) stimulus package in November.
The state council, China's cabinet, said last Wednesday that it was studying curbs on overcapacity in industries including steel and cement.
Industry minister Li Yizhong ordered the steel industry to refrain from expanding capacity earlier this month. Mills have the capacity to produce 660-million tons of steel each year and there was demand for 470-million tons, he said.
Source: All Africa
There was "healthy" demand and the global economy was on the path of recovery after its "most difficult period", Baoshan president Ma Guoqiang said yesterday.
Benchmark Chinese steel prices have dropped 13% since August 4 after gains this year led buyers to run down stocks. Baoshan Steel's profit would rise "significantly" in the second half from the first six months as demand and prices recovered, vicepresident Chen Ying said.
"The most difficult period for the world economy has gone," Ma said. "The economy will recover next year, although the pace won't be fast."
There is strong steel demand from the car, appliance, machinery, oil tanker and power grid industries, and orders for Baoshan were "good".
Baoshan said last Friday that first-half profit plunged 93% because of the economic slowdown. The company is running at full capacity utilisation, Ma said. Baoshan plans to raise output of stainless steel "moderately" in the second half, Chen said.
China's steel output reached a record in July and prices have soared as much as 38% since the government announced a 4-trillion yuan (586bn) stimulus package in November.
The state council, China's cabinet, said last Wednesday that it was studying curbs on overcapacity in industries including steel and cement.
Industry minister Li Yizhong ordered the steel industry to refrain from expanding capacity earlier this month. Mills have the capacity to produce 660-million tons of steel each year and there was demand for 470-million tons, he said.
Source: All Africa
Chinese Mills Cut Korea Export Price
Chinese steelmakers have decreased their export quotation of medium plate to USD 570 per tonne CFR to South Korea.
However, it is still short of evident price competitiveness on the South Korean and Vietnam markets and although there have only been small transactions over the past couple of weeks.
A certain mill unveiled that its export quotation for commodity grade medium plate delivered in October at USD 575 per tonne to USD 580 per tonne CFR. Another noted that its export price might even be as low as USD 565 per tonne CFR.
It is reported that some South Korean importers has already broken their previous orders placed with USD 600 per tonne.
Export profits remains higher than that in domestic trade, given the steel export rebate and a falling domestic price. In order to sustain market price, such leading domestic steelmakers as Baosteel, Angnag and WISCO all lift their September ex works prices. They also want to enlarge steel exports so as to release domestic sales pressure.
Source: Steel Guru
However, it is still short of evident price competitiveness on the South Korean and Vietnam markets and although there have only been small transactions over the past couple of weeks.
A certain mill unveiled that its export quotation for commodity grade medium plate delivered in October at USD 575 per tonne to USD 580 per tonne CFR. Another noted that its export price might even be as low as USD 565 per tonne CFR.
It is reported that some South Korean importers has already broken their previous orders placed with USD 600 per tonne.
Export profits remains higher than that in domestic trade, given the steel export rebate and a falling domestic price. In order to sustain market price, such leading domestic steelmakers as Baosteel, Angnag and WISCO all lift their September ex works prices. They also want to enlarge steel exports so as to release domestic sales pressure.
Source: Steel Guru
Newcastle Coal Exports Rise 23 Per Cent
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent last week while the number of vessels waiting to load decreased.
The volume exported in the week ended 7 a.m. local time Aug. 31 was 1.96 million metric tons, compared with 1.59 million tons a week earlier, Newcastle Port Corp. said on its Web site. Forty-two ships, waiting to load 3.34 million tons of coal, were outside the harbour, down from a 20-month high of 50 vessels a week earlier.
Coal ships queued for an average 16 days to load, up from 13.4 days a week earlier, Newcastle Port said. The waiting time compared with 0.65 of a day for general cargo vessels, it said.
Twenty-one ships carrying coal sailed in the week ended Aug. 29, the port said in an e-mailed report today. Fifteen vessels were bound for Japan, two for Spain, one for Taiwan, one for South Korea, one for Thailand and one for China, the port said.
Power-station coal prices at Newcastle port, a benchmark for Asia, fell 2.3 percent to $70.36 a ton in the week ended Aug. 28, according to the globalCOAL NEWC Index.
Rio Tinto Group, Xstrata Plc and BHP Billiton Ltd. are among mining companies that ship coal through Newcastle.
Source: Bloomberg
The volume exported in the week ended 7 a.m. local time Aug. 31 was 1.96 million metric tons, compared with 1.59 million tons a week earlier, Newcastle Port Corp. said on its Web site. Forty-two ships, waiting to load 3.34 million tons of coal, were outside the harbour, down from a 20-month high of 50 vessels a week earlier.
Coal ships queued for an average 16 days to load, up from 13.4 days a week earlier, Newcastle Port said. The waiting time compared with 0.65 of a day for general cargo vessels, it said.
Twenty-one ships carrying coal sailed in the week ended Aug. 29, the port said in an e-mailed report today. Fifteen vessels were bound for Japan, two for Spain, one for Taiwan, one for South Korea, one for Thailand and one for China, the port said.
Power-station coal prices at Newcastle port, a benchmark for Asia, fell 2.3 percent to $70.36 a ton in the week ended Aug. 28, according to the globalCOAL NEWC Index.
Rio Tinto Group, Xstrata Plc and BHP Billiton Ltd. are among mining companies that ship coal through Newcastle.
Source: Bloomberg
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