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Essar Steel of India Secures Funding To Complete Minnesota Iron Ore Plant

2014-11-14 22:58:06| ENR.com: Headline News

Tangled financing stopped work at the processing plant, touted as a boon to the depressed Mesabi Range when worked started in 2008.

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Grim day for ASX as iron ore miners crash

2014-11-12 10:39:25| Automakers - Topix.net

"The worst performers have been the materials sector on the back of the falling iron ore price. BHP is down, Rio is down.

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UPDATE 1-Nippon Steel H1 profit inches up on low iron ore costs

2014-10-30 08:20:18| Steel - Topix.net

Nippon Steel & Sumitomo Metal Corp , Japan's biggest steelmaker, said on Thursday its first-half recurring profit rose 1.5 percent as lower material costs boosted margins and offset appraisal losses on its high-priced stockpiles. The world's No.2 steelmaker by output stuck to its full-year forecast of 400 billion yen in recurring profit, which is pre-tax before one-off items, compared with the 403.77 billion yen mean estimate of 16 analysts polled by Thomson Reuters I/B/E/S.

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India delays decision on iron ore licence for POSCO's $12 bln plant

2014-10-18 08:23:10| Steel - Topix.net

India's federal government has again delayed a decision on permitting POSCO to mine iron ore, seeking more clarifications from Odisha state where the South Korean company has waited nine years to set up a $12 billion steel plant. Former Prime Minister Manmohan Singh said in January POSCO's request for a mining licence - the final regulatory hurdle for the project which would be the biggest foreign direct investment in India - was at an "advanced stage of processing".

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UPDATE 2-Cliffs Natural to take $6 bln charge on coal, iron ore assets

2014-10-17 16:41:19| IT Services - Topix.net

Cliffs Natural Resources Inc said it would record a non-cash charge of $6 billion in the third quarter to write down the value of some coal and iron ore assets due to weak prices. Cliffs Natural replaced it chief executive in July and said it would sell underperforming assets after New York-based fund Casablanca Capital triumphed in a proxy battle.

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