China to build giant aluminum complex in Iran

(Minews) - Iranian investors and a Chinese company have agreed on the construction of a large aluminum complex in the Southern province of Fars, project's Director Mohammad Mahdavi said.Mahdavi said the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and Qadir Investment ...

No end in sight to mine royalty controversy

(Minews) - A ccording to statistics released by the ministry of industry, mine, and trade, revenues generated from mine royalties during the first 10 months of the current Iranian year (ends March 20) indicate a 6.7% decrease compared to the similar period last year, IRNA reported.The royalties received ...

Iranian steel market in doldrums

(Minews) - Although the iron and steel market is usually bustling by the Iranian year’s end, this year it is experiencing a serious slump, Fooladnews cited the head of Iran’s Iron Guild as saying.Noting that it is the first time the market is in a slump this time of year, Mohammad Azad said ...

Iran's cement industry must heed environment norms

(Minews) - With annual cement output of 75 million metric tons, Iran is among the world’s top five cement-producing countries. Unfortunately, environmental pollution is an inseparable part of cement production.Cement manufacturing is said to cause environmental impacts at all stages of the manufacturing ...

Iran urges Armenia to stop polluting Aras River

(Minews) - Iran expressed deep concerns over the pollution of the Aras River byArmenia, warning it needed to stop.Masoumeh Ebtekar, Head of Department of Environment told Sorkhabnewspaper that Iran voiced its concerns over Armenia's industrialpollution of the Aras River, one of the largest rivers in ...

Vale takes 2014 net impairment of $1.152 bln

(Minews) - Brazilian mining company Vale SA on Thursday took a $1.152 billion net impairment on assets for 2014 driven by writedowns on its Brazilian fertilizer assets and for the Simandou iron ore mining project in Guinea.It wrote off $1.05 billion on the fertilizer projects, $1.14 billion on Simandou,...

Glencore to cut its Australia coal exports to ease glut

(Minews) - Glencore Plc said on Friday it planned to cut coal exports from its Australian mines by about 15 percent in 2015 to ensure the mines remain profitable as coal prices languish near 5-1/2 year lows.The world's biggest exporter of coal for power stations said it would cut exports by 15 million ...

Copper miner Kaz expects limited output at Bozshakol project this year

(Minews) - Kazakh copper producer Kaz Minerals said on Thursday its Bozshakol project will start delivering "very limited" production in the last quarter of this year, as it posted annual core profit slightly above analysts' forecasts.Kaz, formerly known as Kazakhmys, had said Bozshakol would ...

The latest e-newsletter of Foolad Mobarake

(Minews) - The latest e-newsletter of Foolad Mobarake in english was published. the newsletter can be accessed via link below.To access and read the newletter click link below:The latest e-newsletter of Foolad Mobarake in english

U.S. steel prices tumble in February

(Minews) - Domestic steelmakers in the U.S. slashed prices in February to cope with a flood of imports juiced by the strong dollar, a move that will pressure their profit margins and reduce costs for buyers of steel, including auto makers.Imports rose 33% in January compared with the year before, according ...

BHP, Rio Tinto hold off iron ore’s squeeze

(Minews) - The world’s largest iron-ore mining companies have much in common with Big Oil right now: Each sector is grappling with slumping commodity prices cutting deeply into their financial results.What some of the mining companies don’t share with the oil majors, though, are big write-...

Apple buying a third of world’s gold to meet demand for iWatch

(Minews) - Technology giant Apple may soon buy up one third of the world’s gold in order to meet the demands of its highly anticipated Apple Watch, according to reports.Interest in the high-end model, featuring 18-karat gold casing, is picking up and the firm is already taking the necessary steps ...

Iran's private sector steel output tops 1.6m tons

(Minews) - Based on the latest report released by the Iranian Steel Producers Association (ISPA), the private sector produced 1,615,350 metric tons of crude steel ingots during the first ten months of the current Iranian year (March 21, 2014 - January 20, 2015).According to the report, the ten-month ...

The world's top 10 gold producers

(Minews) - Number one Barrick Gold's output drops in 2014, but fellow Canadian firm Agnico Eagle adds 30% to production ounces.In 2014, preliminary estimated gold production by the top publicly-traded and non state-owned gold mining companies amounted to 30 Moz, in line with the 2013 totals.Three out ...

BHP chief warns of continuing downward pressure on iron ore prices

(Minews) - The head of the world's largest mining company BHP Billiton said on Tuesday that the price of its main commodity, iron ore, is likely to fall in the near term under pressure from increasing global supply.BHP Billiton and peers Rio Tinto and Vale are pushing additional ore into a market where ...

Aluminum restarts not just a matter of price

(Minews) - Non-Chinese aluminum production was unchanged in January, according to the latest figures from the International Aluminum Institute (IAI).Producers, it might be inferred, are still holding the line in terms of keeping capacity off-line in the face of low prices and historical stocks overhang....

Biggest steel breakthrough in decades

(Minews) - Earlier this month a team of material scientists at Pohang University of Science and Technology in South Korea announced they've successfully created a cheap, flexible steel with a strength to weight ratio of today's best titanium alloys.The paper published in the journal Nature  shows ...

India seizes record haul of smuggled gold outside airport

(Minews) - Indian police said they had made the single biggest seizure of gold smuggled into the country on Tuesday after arresting six people leaving an airport with 60 kg of the precious metal flown in from Dubai.The arrest is likely to strengthen pressure on Finance Minister Arun Jaitley to cut the ...

Iran owns 3% of global copper reserves

(Minews) - Iran’s copper reserves amount to 20 million tons, which is 2.9 percent of global reserves, according to a report released by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO). Recent discoveries have promoted Iran to the 10th spot among countries ...

Copper tells two stories on global economy

(Minews) - It is often claimed that copper prices are a reliable barometer of the global economy’s health. Those who monitor the metal closely are sharply divided over its condition.As of Monday, copper’s spot price on the London Metal Exchange had fallen nearly 10% since the start of the ...