Ratan Jindal-led Jindal Stainless Ltd, part of the $16.5 billion OP Jindal Group, has signed a memorandum of understanding with South Korean steel major Posco for a long-term joint business opportunity.
Nickel miner PT Vale Indonesia, whose shares are traded on the bourse under the code INCO, is planning to spend up to US$216 million to support its business this year.
Mining and wind farm deals valued at more than $3 billion have been signed in Beijing during Prime Minister Julia Gillard’s visit on Tuesday.
http://www.skynews.com.au/businessnews/article.aspx?id=862004
Production of niobium in Brazil will reach 120,000 tpy by 2016, a 33% increase from 2011 levels, according to estimates released by the country’s mining institute, Ibram.
(Reuters) – Rio Tinto has hired investment bank Macquarie to sell its majority stake in the Northparkes copper mine in Australia, a source familiar with the matter said, adding to a growing list of planned divestments.
http://www.reuters.com/article/2013/04/04/riotinto-northparkes-idUSL5N0CR3Q220130404
TORONTO (miningweekly.com) – Canada’s Namibia Rare Earths on Wednesday said it has produced a concentrate grading 8.39% total rare-earth oxide (TREO), with 96.1% heavy rare-earth enrichment, from a sample of the high-grade mineralisation from its Lofdal project in north-western Namibia.
A recent study by the US National Center for Policy Analysis (NCPA) calls on US legislators to streamline mine permit processes and safety regulations in order to bolster domestic rare earth production, which could add $40 billion to US GDP, 3,600 shovel-ready jobs, and could reduce US dependence on Chinese rare earth exports.
The NCPA points to Australia and Canada as examples of more efficient regulatory frameworks.
Glencore has been waiting for several months for China, the biggest buyer of the materials it trades and mines, to give the go-ahead before it can complete its $35-billion acquisition of miner Xstrata, the largest deal in the sector to date.
Demand for cobalt raw material in China will be healthy this year as there is “no stock” in the country, according to the head of Jinchuan International’s nickel and cobalt division.
Santo Domingo.- Dominican Republic’s ever expanding mining boom is evidenced by an average 95.6 licenses per 1,000 square kilometers requested or approved to explore and exploit, with each province averaging 15.75 proposals.
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