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Vale SA Hit with $5.6 Billion Tax Bill

Brazilian mining giant Vale SA, has been charged with $5.6 billion in unpaid taxes in Brazil. The world’s largest iron ore producing company plans to lodge an appeal against the decision.

From Vale 30 Jan 2012

Posco Buys into Roy Hill, Rinehart’s Wealth Soars

South Korean company Posco has decided to buy a 15% interest in the Roy Hill mining project in the Pilbara region. The steel making giant is investing $1.5 billion in the mine owned and operated by Gina Rinehart’s company, Hancock Prospecting.

From Hancock Prospecting Pty Ltd. 23 Jan 2012

Trafford Resources Sells Stake in Robust Resources

Trafford Resources has sold its 5.89% stake in Robust Resources. This has brought in nearly $7.4 million cash for the company from the sale of its 5.3 million shares at the rate of $1.40 per share.

23 Jan 2012

BHP Billiton Expecting Record Iron Ore Production in 2012

BHP Billiton announced that it was going to set new records in the production of iron ore in 2012. The statement from the mining giant came on Wednesday in light of the expansion of mining operations in the Pilbara region of Western Australia.

From BHP Billiton Plc 22 Jan 2012

Grange Resources Forecasts Iron Ore Production Jump

Grange Resources has raised its full year production output by 15 % after the iron ore grades at Savage River mine took an upturn. The iron ore pellet producer said that the Tasmanian mine would help boost their production in 2012.

From Grange Resources Limited 18 Jan 2012

London Mining to Ship First Ore from Sierra Leone

London Mining is working on expanding the iron ore project it operates in Sierra Leone. The company hopes to load its first shipment from the Marampa mine this month.

From London Mining Plc 18 Jan 2012

Fortescue Metals Resumes Operations in the Pilbara After Heidi

The Fortescue Metals Group (FMG) announced that they had resumed mining operations at two of its mines in the Pilbara region after flooding due to Tropical Cyclone Heidi had forced operations to be suspended. The company is the third largest producer of iron ore in Australia.

From Fortescue Metals Group Ltd 16 Jan 2012

Grange Resources Looks to Upgrade Southdown Iron Ore Project

Grange Resources Limited has decided to go ahead with a definitive feasibility study at its Southdown iron ore project as its mineral resource estimate has grown to 698 million tones. The resource estimate is the result of a drilling program that was undertaken a year ago.

From Grange Resources Limited 12 Jan 2012

Vale Declares Force Majeure

Vale the largest producer of iron ore in the world had said that it will lose 2 million metric tons of iron ore due to the heavy rains that are plaguing three states of Brazil. The mining giant has declared force majeure on iron ore shipments.

From Vale 12 Jan 2012

Zone Resources Reports Drill Results from Girard Iron Ore Property

Zone Resources has reported the drilling results of the hole ZR11-08 drilled at the Girard iron ore property in North Québec. The company cut iron formation in the hole, including 35.77% iron over 243.00 m.

12 Jan 2012