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Bahia Mineracao Seeks $1.4 Billion to Finance Iron Ore Project

Bahia Mineracao Ltd is seeking a loan of $1.4 billion from banks in Brazil to finance an iron ore project in the north east of Brazil.

9 Sep 2010

Record Quarter for Australia's Resource Exports

Australia's resource exports had a record quarter with $44 billion worth of exports as per the Australian Bureau of Agricultural and Resource Economics (ABARE).

From BHP Billiton Plc 9 Sep 2010

Eldorado Gold Withdraws Offer for Andean Resources

Eldorado Gold Corporation has withdrawn its takeover bid for Andean Resources. The Canadian gold mining company's president and chief executive Paul Wright made the announcement on Wednesday.

From Eldorado Gold Corporation 8 Sep 2010

Cape Lambert Resources Sues Metallurgical Corporation of China

The Metallurgical Corporation of China is being sued by Cape Lambert Resources (ASX:CFE) for a payment of $80 million.

From Cyclone Metals Ltd 8 Sep 2010

Wayne Swan Says Mining Tax Not Up for Discussion

Wayne Swan the treasurer seems at odds with the tax summit being offered to key independent MPs in return for their support to form a Labor government. Mr. Swan said that the tax was not on the summit agenda and that he would like to get this into legislative shape as quickly they possibly can.

8 Sep 2010

Zijin Mining Group Calls Off Platmin Congo Acquisition

The Zijin Mining Group Company has called off the acquisition of Platmin Congo Ltd. after it was saddled with regulatory probes in China over a recent toxic spill.

7 Sep 2010

ArcelorMittal and Indiabulls to Form JV for Coal and Iron Ore

ArcelorMittal and Indiabulls will form a joint venture for coal and iron ore mining. Indiabulls Real Estate has power plants while ArcelorMittal is the world’s largest steelmaker. It currently produces 8% of global steel supply.

7 Sep 2010

$8 Billion Shortfall in Proposed Mining Tax

The proposed mining tax (MRRT) was criticized as being a mere election ploy by opposition finance spokesperson Andrew Robb.

7 Sep 2010

Largest Discovered Iron Ore Deposit

The new deposit in Mato Grosso state of Brazil may be the largest discovered iron ore deposit in the world. It may potentially be greater than Vale SA’s Carajas mine. The state Secretary Pedro Nadaf said that the new deposit may contain 11.5 billion metric tons of ore with 41% iron content.

6 Sep 2010

Nalco Shoots for African Uranium

After failing to acquire the copper mine in Namibia with Hindustan Copper, Indian company Nalco, Asia's largest, and one of the world's leading aluminium companies, has now decided to shoot for uranium assets in the African country.

6 Sep 2010