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,...

Global steel consumption growth to slow in 2012

The World Steel Association (worldsteel) is forecasting global steel consumption growth to slow to 3.6% in 2012, from 5.6% in 2011, as China enters a less steel-intensive growth phase and eurozone debt crisis uncertainties continue to persist....

Cliffs Q1 profit down 11% as mining, transport costs spike

Iron-ore and coal producer Cliffs Natural Resources on Wednesday reported an 11.1% drop in profit for the first quarter to $376-million, or $2.63 a share. This was the result of increased mining and transportation costs, which spiked by 85% to...

Iron-ore exports to China up at Port Hedland

Iron-ore shipments to China through Australia's Port Hedland rose modestly in February compared with January, according to data released by the port authority, suggesting steady demand from the world's largest steel industry after signs of a weak...

Shanghai rebar gains for 2nd day, caution stays

China steel futures rose for a second day on Tuesday, tracking gains in other commodities after Greece secured a long-sought financing deal which injected cautious optimism in a market still wary about the outlook for steel demand. The deal...

Cliffs warns on cost inflation in H2

Cliffs Natural Resources, which missed analyst expectations in posting a 56% jump in second quarter income to $408-million, on Thursday cautioned over cost increases in the second half of the year, as inflation eats into miners profits globally....

Baffinland Iron seeks partner for Nunavut project

TSX-listed Baffinland Iron Mines is hoping to secure a strategic partner for its $4,1-billion Mary River iron ore project within the next two to three months, chairperson and acting CEO Richard McCloskey said on Tuesday. Baffinland is looking to...

TCM eyes 'strong and steady' moly recovery, seeking acquisitions

Molybdenum prices are firming nicely, underpinned by demand from Europe, the US, China and the rest of Asia, Thompson Creek Metals CEO Kevin Loughery said on Thursday. “We think the general momentum of the market place is good, all of our...

Iamgold 'comfortable' with niobium price, sees upside

Canada's Iamgold is “comfortable” with the current niobium price in the mid-$30s per kilogramme, and expects to see prices firm as steel demand and prices increase, interim CEO Peter C Jones said on Wednesday. Iamgold is primarily a gold...

Iron-ore project on track, full steam ahead

In these tough economic times, when companies are feeling the effects of the recession and attempting to reduce costs, iron-ore producer Kumba Iron Ore (KIO) has invested in a new R8,5-million greenfield project, Komolela, in the Northern Cape, as...

Iron-ore company targets China to make up lost volume

South Africa’s biggest iron ore producer Kumba Iron Ore, part of the Anglo American Group, is targeting China to make up for volume lost in Japan, South Korea and Europe.

Construction company holds a positive outlook despite credit crunch

Diversified engineering company Cosira reports that it has not been adversely affected by the global financial crisis because of the foresight of board members.