1. Bloomberg.com: ArcelorMittal May Buy Mines in 2010 to Boost Iron Ore Supplies
ArcelorMittal plans to increase its supply of iron ore: focuses on vertical integration. The steel company supplies nearly half of its iron ore needs, but looks to raise its iron ore self-sufficiency to between 75-85% by 2014.
2. Reuters India: UPDATE 1- Australia Port Hedland reopens to iron ore ships
Port Hedland reopens undamaged after a severe cyclone passed earlier this week. Freighters were rerouted to safe harbors as Australia’s west coast was inundated with near 300 km per hour winds. The port is primarily used by BHP Billiton.
3. The Associated Press: Fear of violence grows in mountaintop mining fight
A female miner was charged with assaulting an environmental activist neighbor. The incident has sparked fears that more violence could erupt out of the region’s controversy over mountaintop removal coal mining. So far, most arrests are associated with trespassing charges.
4. The Hindu Business Line: Iron ore ferrying: Panel to seek ban on 25-year-old ships
The Union Ministry of Shipping recommends the Indian government ban ships more than 25 years old from loading iron ore cargo. The recommendation comes as a solution of the issue of older cargo vessels sinking along the Indian coast.
5. AFP: Rio appoints new iron ore envoy, denies Hu link
Rio Tinto announces Danny Goeman as its replaced chief iron-ore negotiator. Goeman has been an active in Rio Tinto’s negotiations for the last six years, and was at the helm of last year’s price talks when executive Stern Hu was detained in China in July on claims of industrial espionage.
6. People’s Daily Online: Northwest mining project hits red light
The US government objects to a $26.5 million Chinese investment in a Nevada gold mine on national security concerns. The mine is around 100 km from a US Naval base. Nonferrous International Investment signed a deal to buy a 51% stake in Firstgold Corp in July.
7. The Canadian Press: SNC-Lavalin chosen to provide services for African iron ore project
The construction of a $630 million iron ore concentrator project in Mauritania will be managed by SNC-Lavalin. SNIM, a Mauritanian government majority owned company, chose SNC-Lavalin to provide engineering, procurement, and construction management services. Financial details of the agreement were not disclosed.
8. The Associated Press: EPA holds public meeting on proposed uranium mine
Controversy surrounds a proposed uranium mine in northern Colorado. Opponents of the mine claim the EPA has been working on draft regulation before approval has been given. Colorado-based Powertech looks to use technology that injects a solution underground to dissolve and extract uranium.
9. Reuters UK: Baltic index stays weak, cargo activity subdued
The Baltic Exchange sea freight index falls to a near two-month low. The index tracks the cost of shipping for items such as iron ore and coal. The main index has been uncharacteristically erratic this year due to swings in Chinese demand for iron ore.
10. The Australian: Macarthur Coal makes a $1bn bid to expand
Macarthur Coal looks to expand its assets, set to become a $3.4 billion coal company. Macarthur made an AUS$1.2 billion bid to buy Glouchester Coal and other assets of the Nobel Group. The deal would add an estimated 2.5 million tonnes of coal production annually.
