Northland Resources S.A. (TSX:NAU)(FRANKFURT:NPK)(OSLO:NAUR) has announced that today, an agreement between Northland and Metso AB was signed for the long-lead items for the Tapuli process line and basic engineering for the Process Plant System for the Kaunisvaara Project.
CHAMPION MINERALS INC. (TSX:CHM)(FRANKFURT:P02) has announced the start of a 5,000 m diamond drilling campaign on the Company's Moire Lake iron project in the Fermont Iron Property in northeastern Quebec.
The largest iron ore producer in Russia is planning to sell 20% of its shares on the London Stock Exchange (LSE). This move of Metalloinvest will expect to value the company at £12.3 billion.
The Chinese Lunar New Year has seen steel mills stock up on inventory before the holiday period to maintain production. This has led to imports of the three key raw materials for industrial steel production to China rising this month and global prices going up consequently. These raw materials include iron ore, oil and copper.
Canadian Orebodies Inc. (TSX VENTURE:CO) has announced that it is has entered into a non-arm's length Purchase Agreement to acquire up to a 100% legal and beneficial interest in the Inuit Owned Lands Mineral Exploration Agreement with Nunavut Tunngavik Incorporated which covers the Haig Inlet Iron Ore Project, located on the Belcher Islands, Nunavut, Canada.
Argosy Minerals (ASX:AGY) is hoping to raise Australian $1.49 million via a placement of 14.9 million shares at a rate of $0.10 per share. The funds raised through the placement will be used to develop the iron ore prospects the company owns in Sierra Leone and also as working capital.
BHP Billiton is expected to post record $15 billion earnings for the six month period pre-tax. This would give the company a $30 billion plus full year result. It has broken the record for biggest profits posted by a company in Britain with this. The last record was set by Shell three years ago when it unveiled profits of $27.5 billion.
Rio Tinto is to invest $1.2 billion to expand mining operations in Australia and Canada. The mining giant intends to spend $933 million on the Marandoo iron ore mine in Australia to prolong its life by another 16 years till 2030. Another $277 million will be invested in the Iron Ore Company of Canada to raise concentrate production capacity by 40% to 26 million tonnes annually.
The Brazilian Mining Industry is going to see legal changes to the old 1968 mining code. The changes would be along the lines of the oil legislation which was passed over the last 15 years taking Brazil from being an importer of oil to a net exporter of petroleum products. The plan is being named the National Mining Plan 2030.
Rio Tinto approves US$933 million extension of Marandoo iron ore mine life in Western Australia's Pilbara region
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