Minister of Industries, Mining and Trade Mohammad Shariatmadari said only half of Iran’s active industrial units are operating above 50% of their capacity.
Nevertheless, the minister added that applications to set up new industrial units registered a 23% increase during the nine months to Dec. 22, 2017, compared with the previous year’s corresponding period, Financial Tribune’s sister newspaper Donya-e-Eqtesad reported.
Shariatmadri believes high bank interest rates have greatly disturbed the production sector, as profits made in industrial units are low compared to the interest rates.
Eseel Mining, a unit of Aditya Birla group is set to reduce its offers for iron ore lumps by Rs 400/t ($5.6). Essel Mining is one of the largest merchant iron ore miners with an annual capacity of 10 million tonnes per annum in the state of Odisha.
A lucrative retirement package for the chairman of Goldcorp Inc. is raising the hackles of investors ahead of a key vote on the company’s planned merger with Newmont Mining Corp.
Pan African Minerals, a unit of Timis Mining Corp., won’t resume production at its Tambao mine in Burkina Faso as a Paris-based arbitration court has dismissed the company’s $2.2 billion claim against the West African nation.
Bhushan Power & Steel - a major integrated steel maker with a capacity of 3.5 MnT has recorded iron ore sourcing at 0.22 MnT in Jan'19. The sourcing witnessed drop of 32% on monthly basis as against 0.33 MnT a month ago.
Mining industry employees and jobseekers are prioritizing a work-life balance when they look for a new role or when they start feeling dissatisfied in the position they are in.
Brazil’s new right-wing government, led by former army captain Jair Bolsonaro, is going ahead with announced changes to current mining regulations, which include a controversial plan to open up indigenous reserves to mining.