Posts Tagged ‘iron ore’

South Africa’s ruling party, the African National Congress, appears to be moving away from nationalization of the mining industry to reassure foreign investors but is considering other plans to increase state involvement in the sector, particularly with regard to platinum. According to the New Age paper the ANC report stressed that nationalization would be unaffordable, as the government would need to raise R1 trillion ... Full story

Nothing is so salutary for the Chinese economy as growth in the United States, and nothing is so good for copper and iron ore prices as a strong Chinese economy. The recent drop in the U.S. Full story

12%) NMDC, the country's largest iron ore mining company, has secured a gold mining lease in the Bulyang'Ombe and Saga Hills area of Tanzania. Chairman N K Nanda said the mine was estimated to be having gold deposits of four tonnes and NMDC would start... Full story

A new survey out Tuesday shows South Africa’s appeal for mining investment has declined dramatically since 2006. Full story

Rural communities in Australia’s mineral-rich states are unhappy about the many working girls following highly-paid miners into their small towns. The local newspaper of one tiny settlement, Mackay, reports motel and hotel owners in the region are kicking out prostitutes using their rooms to ply their trade. Full story

AUSTRALIA'S peak mining industry body has set the scene for a renewed debate on the mining tax, arguing the sector has not agreed to a minimum amount of revenue to be raised from the controversial scheme. The Gillard government has projected the minerals... Full story

JOHANNESBURG (miningweekly.com) − Job seekers in the Australian mining and construction industry were likely to benefit from a favourable hiring climate in the first quarter of 2012, said recruitment solutions provider Manpower. Continue reading at Mining Weekly Full story

Goldman Sachs Group forecast that commodities may rally 15% in the next 12 months, sticking with an “overweight” recommendation on raw materials and predicting Brent crude may surge to highest level since 2008. Full story

North American stock exchanges are on a tear today after central banks made more funds available to lenders, giving investors hope for a way out of the European debt debacle.  The markets were also cheered by better than expected private sector job growth in the United States. The mining-heavy S&P/TSX Composite was up 2.5% to just over 12,000 at time of writing. Full story

Australia’s total investment in mining industry soared by a third in the past six months to a record $231.8 billion, according to the Bureau of Resources and Energy Economics latest Mining Industry Major Projects – October 2011 report. Full story