Iran among top three participants of China stone fair
(Minews) - Iran was among the top three active participants at the 15th China Xiamen International Stone Fair.Alireza Salarian, Iran\'s consul general in Guangzhou, made the announcement in a meeting with Xiamen\'s Vice Mayor Zhang Canmin on Monday.During the meeting, Zhang elaborated on investment ...
(Minews) - The Iran Mercantile Exchange (IME)’s export trading floor featured 100,000 tons of iron ore concentrate, with the base price of $24 per ton, offered by Sangan Iron Ore Complex at Monday trade. According to IME public relations office, 24,700 tons of various grades of bitumen were also ...
N. Korea 'apologises' to Bangladesh over gold-smuggling diplomat
(Minews) - North Korea apologised to Bangladesh on Monday after one of its diplomats was caught trying to smuggle 27 kilograms of gold into the south Asian country, a Dhaka official told AFP.Son Young Nam -- the first secretary of the North Korean embassy in Dhaka -- tried to sneak in the bullion, worth ...
Turkey coal mine disaster trial to begin in April
(Minews) - Mining executives believed to be somehow responsible of Turkey’s worst mine disaster in history, which claimed 301 lives in the country's western Soma region last year, will stand trial in April.According to Agence France Presse, eight of Soma Mining’s managers are facing life ...
A 15% growth envisaged for mining sector
(Minews) - Plans by the ministry of industry, mine and trade target a 15% growth in the mining sector for the upcoming Iranian calendar year (to start March 21) from the current 10.5%, Eghtesadnews cited deputy minister Mohammad-Ja'far Sarqini as saying.He said considering the great potential in the ...
Lucky Aussie prospector finds massive 2kg gold nugget
(Minews) - Australian prospector Mick Brown, 42, still can’t believe his luck after he found a 87-ounce hunk of gold weighing more than 2kg in central Victoria, near Wedderburn.According to The Age, he named it the "fair dinkum nugget" because when people feel its weight they say "...
Rio Tinto to axe hundreds of jobs as part of drastic restructuring
(Minews) - Hundreds of jobs are to be cut at Rio Tinto’s Australian coal and iron ore operations, as well as around the globe, as the company embarks on an internal restructuring considered one of the most aggressive since CEO Sam Walsh took helm in 2012.The move comes just weeks after the miner ...
Iranian steel trade goes online
(Minews) - The online system to sell iron and steel products has been officially launched, enabling the retail consumers to buy products on prices usually below the market price, IRNA quoted the Samanehahan website manager, Abdolhossein Vafaei as saying.According to Vafaei, the online store started ...
Mergers could help save small mining firms
(Minews) - The cost of producing every metric ton of iron ore in Iran is between 15 and 20 dollars while the figure in Australia is around $7, said the chairman of the Iron Ore Producers and Exporters of Iran (IROPEX).Production costs for mineral products need to decrease if the mining sector wants ...
Mideast’s biggest zinc, lead mine revived
(Minews) - The Mehdiabad zinc and lead mine in the central province of Yazd has resumed operations following a $1 billion investment by the Iranian company Karoun Dez Dasht (KDD), Mehr news agency reported.The KDD's head of board of directors, Ferial Mostofi, says mining machinery has been shipped to ...
(Minews) - The Iran Mine House, in an open letter to the Guardian Council of the Constitution has requested lifting the mining taxes, passed by the parliament last week, asserting that imposing taxes of any form (including mining rights, royalties, etc.) for the mining sector would lead to the closure ...
MoU With Belarus prelude to closer mineral cooperation
(Minews) - The Belarusian industry minister said memorandum of understanding signed with Iran on Thursday will help promote economic and political cooperation between the two countries, IRNA reported.Vitaly Mikhailovich Vovk made the remarks at the end of the 12th joint commission meeting held in Tehran ...
North Korean with $1.4 million in gold stopped in Bangladesh
(Minews) - Bangladeshi authorities said they intercepted a North Korean envoy who arrived at Dhaka’s international airport with 27 kilograms of gold—worth an estimated $1.4 million—in his carry-on bag.Customs officials said they seized the gold and detained the diplomat, who they identified ...
Diamond miners meet in private to discuss fake gems issue
(Minews) - The world’s biggest diamond producers, increasingly threatened by cheaper manmade stones being passed off as the real thing, held a private meeting this week to create their first-ever industry association.Representative from eight companies, led by industry giants Anglo American Plc’...
Alcoa says review could affect 14 pct of smelting capacity
(Minews) - Aluminum maker Alcoa Inc said a review of its operations could impact 14 percent of its global smelting capacity and 16 percent of its global refining capacity.Alcoa said the review could result in partial and full plant curtailments, permanent shutdowns and divestitures.Alcoa has been has ...
Mining's top ten billionaires in 2015
(Minews) - Despite a relatively rough year in the industry, mining still has a number of billionaires.Australian Mining examines Forbes list of the world's billionaires to see who is making money in mining.This year has definitely seen a drop from the high bank balances of last year’s list,...
EU set to impose duties on Chinese, Taiwan stainless steel
(Minews) - The European Union will impose anti-dumping duties later this month on imports of stainless steel cold-rolled sheet from China and Taiwan, according to two sources familiar with a European Commission proposal.The Commission plans to set tariffs of about 25 percent for imports from China and ...
Zambia copper dispute could pressure market
(Minews) - Windfall taxes usually work best when prices are rising.Zambia has taken a different approach. The price of copper is in free-fall and in January, the government hiked royalties to try to shore up its finances.The Copperbelt that stretches across southern Congo and northwestern Zambia accounts ...
Glencore’s thermal coal output cut set to warm market
(Minews) - It is a measure of the distress in the thermal coal market that one of its lowest cost producers — the Swiss resources group Glencore — recently announced plans to cut output. In theory the opposite should happen.But high-cost miners have decided to play a game of last man standing,...
Gold seizure at Mumbai International Airport surges by 300 percent
(Minews) - Gold seizure by Customs at the Mumbai international airport has increased by over 300 per cent this fiscal till February compared to same period last year."During the last fiscal we had seized 272 kilograms of gold till February 2014, but this year we have seized 856 kilograms of gold,...
