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BEIJING - Shandong Iron & Steel Group on Tuesday said it will pay $1.5 billion for a 25 percent stake in African Minerals' iron ore project in Sierra Leone to bolster raw material supplies. London-listed African Minerals announced on Tuesday that it has sealed a second investment deal with Shandong Steel, China's fifth-largest steel mill by output...
BEIJING - China Minmetals Corp is planning to invest 1 billion yuan ($148 million) for rare earth processing projects in Ganzhou city of Jiangxi province over the next two years to gain mining rights for the valuable resources. "The nation's largest metals trader has been eyeing rare earth mines for some time now. The move is also in line with the loca...
DALIAN - China's steel output in 2010 might hit a new high of 620 to 630 million tons, a 10 percent increase year-on-year, Minister of Industry and Information Technology Li Yizhong forecast at a forum Monday. China's steel output reached 269 million tons in the first five months of this year, up by 23.8 percent year-on-year, Li said on Monday a...
China National Petroleum Corp, BP Plc and a local partner may increase production at Rumaila, Iraq's biggest oilfield, by 14 percent by the year-end after assuming full management of the block this month. Daily crude production may rise to 1.17 million barrels from more than 1.03 million barrels currently, CNPC said in a statement on its website ...
China's second-largest steelmaker Baosteel Group said it will be evaluated by Japanese carmaker Nissan Motor Co as a global autosheet supplier. This is the first time a Chinese steel producer has entered the car maker's global supply evaluation mechanism. As China's leading auto sheet producer, Baosteel said in a notice on its website that it exp...
BEIJING: Half of China's textile companies risk going to the wall if the yuan appreciates 5 percent against the US dollar, an industry lobby group warned. China National Textile and Apparel Council Vice-President Gao Yong attributed this knife-edge existence to the industry's thin profit margins of around 3 to 5 percent. "If the yuan actuall...
BEIJING - AVIC (Aviation Industry of China) International Holding Corp has bagged a big overseas contract in Venezuela, sources familiar with the matter said on Monday. The import and export subsidiary of aerospace conglomerate Aviation Industry Corporation of China signed a contract last Friday with two Venezuelan partners to deliver 25 multi-purpose Y...
Embracing Jordanian Phospates Mines Corp (JPMC), Indonesian state-run fertilizer firm, Pusri Hodings, planned to construct five fertilizer plants in Indonesia, local media reported here on Monday. The plans would be materialized in jointly-operated plants, worth at least 100 million U.S. dollars. Each of those five NPK (Nitrogen, Phosphate, Calium) fert...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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