mineral exploration project – commodity prices – mining stock- trade and market

The company IMX Resources is officially opening its Cairn Hill mine in South Australia’s outback today.

The iron ore and copper mine is south of Coober Pedy and will directly employ 150 people and have a life of up to 20 years.

Premier Mike Rann will be at the opening – an event the company’s managing director, Duncan McBain, says proves that South Australia has a strong future in the resource sector.

“We’ll mine down to about 120 metres below ground level in two small pits,” Mr McBain said.

“Potentially it could go underground...

Brazilian mining giant Vale’s second-quarter net profit surged on higher iron ore prices and stronger demand.

Vale, the world’s largest producer and exporter of iron ore and iron pellets, reported a second-quarter net profit of $US3.71 billion, up from $US790 million in the same quarter a year ago.

The miner, which is also the world’s second-largest nickel producer, said revenue for the quarter jumped 95.3 per cent to $US9.93bn, compared with $US5.1bn a year ago.

Prices for iron ore, which provides the bulk of Vale’s revenue, more than doubled in...

Iron ore production fell last year for the first time in seven years but continuing demand for the raw material from the Chinese steel industry ensured that the volume of trade increased again, a United Nations report released today says.

Global production dropped by 6.2 per cent to 1.588 billion tons, according to the report published by the UN Conference on Trade and Development (UNCTAD) in cooperation with the Sweden-based Raw Materials Group.

Brazilian government plan implementation costs of iron ore export tax to exporters of iron ore. Application of the tax costs aimed at increasing domestic investment, especially domestic steel production increase.

Brazil is the country’s second largest iron ore exporting; some iron ore production is exported to China for use as raw materials to produce steel in China.

China indicted four employees of Rio Tinto Group, including the Australian head of its iron ore unit in the country, on trade secrets and bribery charges, signaling it won’t back down from confrontation with global business.

Mining company BHP Billiton iron ore production reported from several locations of their iron ore mines to...

Iron ore mining company BHP Billiton is the world’s largest company and the world’s largest steel maker ArcelorMittal in talks...

Winter and snow that occurred in some parts of China affect the mining exploration activities in China, so that mining production decreased. Decrease in mining production from China to change the status of China became an importer exporter of mining raw materials.