Australia’s BlueScope Steel has let 1,000 employees go as it exits the export business thanks to a 1 billion dollar loss that the company has incurred. In response to the event the boss of the Australian Workers Union, Paul Howes said that Dutch disease was crippling Australia’s economy.
IronOne has begun the diamond drilling program at its Maguse River iron project. Two drill rigs are being used in this program. The location of this project is about 60 km to the north of the Arviat coastal town, southern Nunavut.
Exxaro Resources is the second largest producer of coal in South Africa and the diversified miner wants to increase its share in iron ore as well. As of now the company does not produce iron ore on its own and is evaluating projects in West Africa and Australia where it can take on an interest in a venture to boost its earnings.
Andrew Twiggy Forrest of the Fortescue Metals Group has a lot to smile about. The company has recorded a jump of 76% in profits in the full year net profit this year. The Fortescue Metals Group reported net profit of $ 1.022 billion on higher iron ore prices.
Advanced Explorations (AEI) has reported the additional drilling results from the Tuktu iron ore project, which is situated in Nunavut, Canada.
Mount Gibson Iron has agreed to sell iron ore to Glencore International. The Australian mining company signed a deal with the Swiss trading giant to sell 48% of the mine production of iron ore from its Extension Hill mine in Western Australia. This would roughly equal to 1.44 million mt/year from the mine located 239 km away by rail from the port of Geraldton.
Oceanic Iron Ore has reported the third set of assays from the 2011 resource verification campaign. The recent assay results continue to associate well with the historic results.
Trans-Tasman Resources Ltd from New Zealand was pleased to announce that its iron sands resource estimate at the off-shore iron ore mineral resource has nearly doubled in size. The second official JORC compliant resource has been signed by an independent geological consultants Golders Associates.
Legacy Iron Ore has begun its second phase of drilling exploration at the Mt Bevan Iron Ore Project. The deep reverse circulation drilling is to take place at the southern part of the banded iron formation (BIF) covering strike extensions at the 617 million tonne resource.
Beaufield Resources has completed a month’s field work at the Schefferville iron property in Quebec. It has collected 700 grab-chip samples in total and these samples are being sent for analyzing the iron content.
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