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Beijing: It is reported that China steel mills are looking for Russian iron ore mines, in a further bod to diversify from their dependence on the Big Three miners. There are three or four China steelmakers concerned in the buying of a mine under Alrosa Co. Located in South Yakutia a place in Siberia 300 kilometers from the Sino-Russian border, the mine has ...
Baoshan Iron & Steel Co, China's largest listed steelmaker, is importing iron ore from top global miners on a temporary price basis, Ma Guoqiang, the listed unit's general manager, said on Wednesday. He said the company was studying how to deal with the adverse impact of iron ore price changes while negotiations with the three main global producers ...
China, the biggest user of cooking oils, told State-owned trading companies to seek supplies of soybean oil from Brazil and the US, two company executives with direct knowledge of the matter said. The Ministry of Commerce told three companies, including Cofco Ltd, at a meeting last week to source supplies from those countries instead of Argentina, said th...
China, the world's second-biggest corn consumer, sold most of the grain on offer in a series of auctions around the nation yesterday, indicating increasing concern that there may be a shortage. The State reserves sold 1.22 million tons, about 88 percent of the 1.39 million tons offered, according to data on the website of the National Grain & Oil Tra...
BEIJING - Recycling scrap metals is a way to reduce Chinese steel mills' dependence on imported ore and ease pressures from the surging iron ore prices, industry experts said. The proposal comes amid reports that Chinese steel mills have accepted global miners' quarterly pricing system for their ore at over $110 a ton for April-June contracts - more tha...
If approved, resource tax not scheduled to start until July 2012 BEIJING - Australia's recent plan to impose a super-tax on mining groups will not deter Chinese companies from investing in that nation's mining sector, industrial insiders said. Under the latest plan, Australia will tax miners 40 percent on profits for their operations in 2012. Revenue ...
The Ministry of Commerce (MOC) has launched an anti-monopoly probe into BHP Billiton and Rio Tinto's plan to set up a joint venture, the 21st Business Herald reported Wednesday, citing an unnamed source at the China Iron & Steel Association. A source from the ministry who participated in the probe told the newspaper that the two giants had submitted ...
Singapore: Taiwanese-owned Courage Marine is spending $10m on a secondhand capesize bulker. The Singapore-listed bulker owner is acquiring the secondhand vessel to replace its existing capesize, Cape Ore. The company said it made a $400,000 profit on the disposal of the Cape Ore. Courage Marine has 10 bulkers comprising, three handysize, two handymaxes, fou...
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.
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