Alcoa now sees global aluminum surplus of 326,000 tonnes in 2015

(Minews) - The world aluminum market will see a surplus of 326,000 tonnes in 2015, an executive at Alcoa Inc said following a presentation of the company's first-quarter 2015 earnings on Wednesday.That surplus forecast differed sharply from the aluminum producer's January estimate of a 38,000-tonne ...

Russia to extend platinum and palladium export tax

(Minews) - Russia plans to extend a 6.5-percent export tax, currently set on platinum group metal ingots and sponge to other, related products, Interfax news agency quoted Vladimir Potanin, Norilsk Nickel's chief executive, as saying on Thursday.As a major exporter, Norilsk has benefited from a fall ...

McEwen Mining says robbers stole 7,000 ozs of gold from Mexico mine

(Minews) - Armed robbers on Tuesday made off with 7,000 ounces of gold contained in some 900 kilograms of gold-bearing concentrate from McEwen Mining Inc's El Gallo 1 mine in Mexico, the Canadian-based miner said.No employees were seriously injured nor was there any material damage to facilities at ...

Investor e-mails pile up in Iran as agreement may open economy

(Minews) - Global interest in Iranian heavy industry has grown since last week’s nuclear accord held out the prospect of an end to sanctions, according to a top official.“Many, many foreigners have contacted me; they are ready to jump in,” Mehdi Karbasian, Iran’s deputy minister for ...

Iran's mines resources worth 770 billion dollars

(Minews) - Deputy head of Geology Organization of Iran for exploration affairs said on Tuesday that three percent of mineral resources of the world exist in Iran estimated at 770 billion dollars.Behrouz Borna made the remarks in a seminar dubbed 'Geology, themed on Orumiyeh Lake'.He said that Iran possesses ...

Chile cuts copper production forecast for 2015

(Minews) - World No. 1 copper exporter Chile is expected to produce 5.94 million tonnes of the metal in 2015, state copper commission Cochilco said on Tuesday, slightly lowering its forecast.Cochilco estimated in January that output would be around 6.0 million tonnes, up from 5.78 million last year....

China plans to subsidise iron ore miners after price slump

(Minews) - China is drawing up plans to subsidise its struggling iron ore sector, official media reported on Wednesday, with many high-cost mines forced to shut as a result of a collapse in global prices.China, the world's biggest steel producer, has long been worried by its growing dependence on foreign ...

Iran to announce comprehensive coal plan

(Minews) - The head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) says a “comprehensive coal plan” will be formulated in the current Iranian calendar year (started March 21), IRNA reported.The plan will be formulated based on collaboration between domestic ...

Iran among world's top 10 mining countries

(Minews) - A senior Iranian official said here that Iran is among ten top countries in the world in terms of owning mines.Deputy for excavations in the Geological Survey of Iran, Behrouz Borna, highlighted the important role mine sectors could play in enhancing employment in the country and said focusing ...

Iran's mine explorations lead to major discoveries

(Minews) - Vast exploration operations have resulted in the discovery of more than 250 million metric tons of iron ore reserves as well as 150 million tons of coal; Fooladnews cited chairman of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) board of directors,...

India's 2014/15 iron ore imports hit record 15.5 mln T as prices tank

(Minews) - India's iron ore imports jumped to a record above 15 million tonnes in the fiscal year to end-March as tumbling global prices and limited domestic supply pushed steelmakers to buy more of the raw material overseas, industry data showed on Monday.Formerly the world's No. 3 supplier of iron ...

Kazakhstan metallurgical companies look to new sales markets

(Minews) - Iran is a very promising potential sales market for products of Kazakhstan’s mining and metallurgical industry, Novosti-Kazakhstan reported citing Nikolai Radostovets, executive director of the Kazakhstan Association of Mining and Metallurgical Enterprises.Radostovets told a media briefing ...

Nautilus Minerals resumes undersea mining exploration

(Minews) - Canadian seafloor miner Nautilus Minerals said Tuesday it has struck a deal with provider Gardline CGG, which will allow the company resume exploration around Solomon Islands, east of Papua New Guinea (PNG), where it is developing a gold, copper and silver underwater mine.The company’...

Mining top executives the gloomiest of all

(Minews) - Mining top executives are much gloomier about the current economic outlook than their counterparts in other industries, as the ongoing slump in key commodities, from iron ore to copper, continues to impact their business decisions.CEOs however remain just as confident on their own company’...

Exports of Isfahan Mubarakeh Steel Complex up 45%

(Minews) - Over 1.5 million tons, worth $700 million, of Isfahan Mubarakeh Steel Complex's products have been exported during the last Iranian calendar year (ended March 20, 2015), it was reported on Sunday.The figure indicates an increase of 45 percent in terms of weight compared with the same period ...

IMIDRO's exploration operations to expand westward

(Minews) - The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) says it is expanding exploration operations of mines into the western regions of the country, Tasnim news agency reported on Saturday.After the Ministry of Industry, Mine and Trade issued permits for ...

Alloy Steel Company's annual exports grow 12% annually

(Minews) - Managing Director of Alloy Steel Company of Iran said on Sunday that alloy steel production increased 8% over the past Iranian year (1393, ended on March 20, 2015), while the company's exports increased 12%.Seyyed Ali Azarbadegan further told IRNA that the company produced 419,000 metric ...

Port Hedland iron exports to China climb in March as prices sink

(Minews) - Iron ore shipments to China from Australia’s Port Hedland increased 3.2 percent last month from February as mining companies in the world’s largest exporter boosted output, hurting prices amid a global glut.Exports to China totaled 31.2 million metric tons in March, the most since ...

Steel sector growth continues into 2015

(Minews) - Latest statistics by the World Steel Association show that crude steel production in Iran during the first two months of 2015 recorded 15% growth compared to the similar period in 2014, reaching 2.77 million metric tons, Tasnim news agency reported on Friday.The country produced 2.4 million ...

IMIDRO to attend World Copper Conference 2015 in Chile

(Minews) - Iranian Mines and Mining Industries Development and Renovation is attending attending in 15th World Copper Conference in Santiago, Chile, Mehr News Agency reported on Sunday.According to IMIDRO, the National Iranian Copper Industries Company, as the country’s major company responsible ...