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Ferrous Metals
 
IRON-ORE

LIM focused on development this year as it rides out low-price market

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Seasonal iron-ore miner Labrador Iron Mines (LIM) this week said that in the face of a 30% drop in 62% iron-content iron-ore prices from January to June, it had not started mining operations this summer season, opting instead to focus on...
1st August 2014
 
 
STEEL

O’Flaherty outlines ‘production first’ strategy for steel group Video Available

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ArcelorMittal South Africa CEO Paul O’Flaherty Newly appointed ArcelorMittal South Africa (AMSA) CEO Paul O’Flaherty delivered an unambiguous ‘production first’ message in his inaugural interaction with the investment community on Friday, saying his management team was committed to...
1st August 2014
 
 
STEEL PROJECTS

AMSA to take $20m knock on Newcastle delay

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Steel producer ArcelorMittal South Africa (AMSA) has confirmed that the reline project at its Newcastle mill, in KwaZulu-Natal, has hit snags and that the project, which was initially expected to be completed four months after the May 12 shutdown...
1st August 2014
 
 
IRON-OR

ArcelorMittal to buy stake in Guinea iron-ore project

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ArcelorMittal, the world's largest steelmaker, said on Friday it had signed deals to purchase stakes in an iron ore project in Guinea as it pushes to raise its mining output and leverage its existing presence in the region. ArcelorMittal said in a...
1st August 2014
 
 
RAIL

Bollore, Pan-African Minerals ink $895m Côte d'Ivoire, Burkina Faso rail link

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French conglomerate Bollore and Pan-African Minerals signed a memorandum of understanding on Thursday on a rail project worth $895-million, linking Abidjan in Côte d'Ivoire to the Burkina Faso manganese deposit at Tambao. The governments of Côte...
1st August 2014
 
 
IRON-ORE

Gindalbie reviews value of Karara stake

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Iron-ore miner Gindalbie Metals has called a halt to its share trading after revealing that it had commissioned an independent review into the value of its shareholding in the Karara asset, in Western Australia. The review was called in light of...
1st August 2014
 
 
IRON-ORE

Vale tells analysts to end fixation on China, iron-ore price

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Analysts following Brazil's Vale should stop obsessing over iron-ore prices and Chinese demand to focus instead on the company's other divisions and cost cuts, one of the miner's top executives said on Thursday. Jose Carlos Martins, head of...
1st August 2014
 
 
IRON-ORE

Brazil's Vale profit falls; prices undermine record output

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Brazilian miner Vale posted a sharp decline in profit from the previous quarter as lower iron-ore prices undermined record production of the steel-making ingredient. Vale, the world's largest producer of iron ore, reported second-quarter net...
1st August 2014
 
 
 
 
 
 
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