Indonesian steel manufacturer places furnace order

One of Indonesia’s largest steel manufacturers, Gunung Steel Group, has placed an order with global steel processing technology supplier SMS Siemag Germany for the supply of an Arccess electric arc furnace and a ladle furnace for its new...

Company Announcement: Kingsrose Mining - Declares maiden 4c dividend

Kingsrose Mining Limited is pleased to announce that it will pay a maiden unfranked interim dividend of 4 cents a share.

Higher capex for Wetar, but lower operating costs

A review of the bankable feasibility study (BFS) of ASX-listed Finders Resources’ Wetar copper project, in Indonesia, has resulted in a 7.7% increase in the estimated capital costs, while decreasing the expected cash operating costs. The...

Gold hits 4-1/2 month low on Greece turmoil

Gold extended losses on Wednesday to slip to its weakest level since late December after efforts to form a new government in Greece collapsed, prompting investors to cut their exposure to the precious metal. Bullion has this year been moving in...

West Wits sells SA assets to Mintails

ASX-listed junior West Wits Mining has sold its South African exploration assets to Mintails for A$9-million. An initial A$2-million upfront payment would be released within the next seven days, with further milestone payments expected.

Indonesia plans to limit miners' exports at 2009/10 volume

The Indonesian Trade Ministry on Friday announced plans to set a new quota for mineral exports, limiting mining companies to their 2009 or 2010 export volumes. "Mineral export quotas will be determined annually based on 2009 or 2010 export...

Vale invokes force majeure at nickel project

Vale, the world's second-biggest nickel producer, said on Thursday it would suspend sales and purchase agreements at its Goro project on the French Pacific island of New Caledonia after an accident at the mine's sulfuric acid plant. Rio de...

Southern African coal prices may recover by year-end

Southern African coal prices will be under pressure over next the few months, as the recovery in the US and Chinese growth were sluggish, while the eurozone was still in a dismal state, Standard Bank commodities strategist Marc Ground said on...

India to import 36.8Mt of coking coal in 2012

The Indian steel industry would have to import 36.8-million tons of coking coal in 2012 to meet an estimated steel demand of 58.7-million tons. This import would increase to some 43.3-million tons in 2013 against a steel demand of 65-million tons,...

India eyes coal fund to buy assets abroad

India's coal ministry has proposed setting up a sovereign fund to buy coal assets abroad, Coal Minister Sriprakash Jaiswal said on Friday, as the country struggles to secure supplies to meet booming demand mostly from its power producers. A...

Slower Chinese growth puts breaks on WA-listed firms

The market capitalisation of Western Australian listed companies comprising the Deloitte WA Index decreased by 2.8% in April, mainly on the back of cooling economic growth in China. The market capitalisation for the companies on the index dropped...

Australian billionaire says to build nickel freight fleet

Australian businessman Clive Palmer on Friday said he plans to build and operate a fleet of four freighters to import nickel ore to a nickel refining plant purchased from BHP Billiton . The decision by the billionaire, who made much of his...