Steel Mining Companys
Mining Moly Chips Helps Freeport Reach $59
There is substantial demand for molybdenum…
Molybdenum is largely used as a raw material in the steel industry to manufacture steel alloys. In fact, almost all the molybdenum produced globally is added to steel to make make it stronger, more corrosion-resistant and easier to weld.
According to the company's annual report for 2010, it sold 67 million tons of molybdenum last year and had more than 3 billion tons of proven reserves of the metal at the end of 2010 - consolidating its claim of being the world's largest molybdenum producer.
.. and it really doesn't cost Freeport much to mine it
Freeport's molybdenum operations are completely located in the Americas with the company conducting mining operations at its Henderson mine in Colorado and selling it from its North and South America copper mines. A substantial part of the molybdenum is actually produced as a by-product of the company's copper mining operations - making the business highly profitable due to lower associated costs.
Steel Mining Companys - News
The latest report of the Central Empowered Committee (CEC) to the Supreme Court recommending the closure of mining operations of 21 mining companies in Bellary-Hospet region is likely to have a far-reaching impact on the domestic steel industry.
A substantial part of the molybdenum is actually produced as a by-product of the company's copper mining operations - making the business highly profitable due to lower associated costs. And the fact that global steel industry is back on the growth
Both WISCO and MinMetals (HKG:1208), which are ranked among the Forbes Global 500 and are two of China's largest mining companies, have substantial stakes in Century Iron. Through these partnerships, the company has secured a place in perhaps the
Ostensoe cut his teeth in Canada at Newmont Mining Corporation, working as a venture prospector and staff geologist, going on to extend such field work over a number of years, later handling major field projects for heavy hitter Hecla Mining Company's
Led by a combination of captive iron ore mining, jump in pellet sales and higher steel volumes, we expect the company's operating profit to jump from Rs2.3bn in FY11 to Rs3.5bn in FY13. Bottomline is expected to surge 64% from Rs859mn in FY11 to
Noront Resources HUB – Arcelormittal…the world's leading steel ...
I’m wondering about something today. And it’s to do with ArcelorMittal,.. .the world’s leading Steel Company .
I am wondering if they will play a role in The Ring of Fire.
If you open up the link below you will see the program a conference held in Sudbury last week. If you go to pg 1/4 and look at time slot June 27, 2011 8:30-10:15 you will see
-Plenary Session-Ontario Ring of Fire. Christine Kaszycki, does the overview. Under the Ring of Fire, Plenary Session she is followed by Matthew Pickard….
http://www.sudbury2011.ca/docs/Sudbury2011%20Program.pdf
So who is Matthew Pickard and why is he in the ROF session?
“Matthew Pickard is Director, Environment, Health, Safety & Sustainability at Baffinland Iron Mines Corp.
He’s responsible for the Environmental Impact Statement and associated permitting for the proposed Mary River Iron Mine construction project located on Baffin Island, Nunavut. Also responsible for all aspects of Corporate Environment, Health and Safety.”
Ok. So you read the above about Matthew Pickard and you wonder some more.
Then you start to remember the big takeover battle for Baffinland Iron Mines Corp.
In 2010 there was a hostile bid from a USA company ..the offering was 80 cents .
The end result of the story was Acelormittal decided to join forces with the hostile bidder since they each kept uping their price with no end in sight. The shareholders got 1.50 per share and Acelormittal got 70% of the company and the rival hostile company got only 30%. The end story is in this link.
http://www.mnn.com/earth-matters/wilderness-resources/stories/rival-bidders-join-forces-to-take-over-key-iron-ore-depos
So, in my long winded way, what I am trying to say is that Acelormittal the world’s leading steel company is the 70% owner of Baffinland Iron Mine Corp….And someone employed there spoke after Christine in the ROF Plenary session. Is Acelormittal somehow involved with Noront, Cliffs ..or both?
I also posted an older March article below. Do you notice that ArcelorMittal is in the International Chromium Development Association….along with Xstrata.
Do you also notice Joseph from Xstrata Nickel was speaking at the conference also…right before Christine went on?
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