Iran-Singapore Commercial Committee was officially established on Wednesday, the deputy head of Iran Chamber of Commerce, Industries, Mines and Agriculture for international affairs said.
“Our plan for ICCIMA's International Department is to expand activities and attract enough members over the next six months for the committee to turn into an Iran-Singapore chamber of commerce,” Mohammad Reza Karbasi was also quoted as saying by ICCIMA's news portal.
Based on the latest report by Trade Promotion Organization, Iran exported close to $40 million worth of commodities to Singapore during the first 10 months of the current Iranian year (March 21, 2018-Jan. 20), and imported goods worth $762 million in return.
Lonmin Plc plans to cut 4,100 workers at mines that have run out of profitable ore and are being closed.
As per sources report to SteelMint, JSW Steel booked 20,000 MT iron ore fines (Fe 64-62%) from Daitari mines in OMC e-auction conducted today (14th May'19) . The company has booked iron ore fines at base price of INR 2,450/MT (inclusive of Royalty).
Vale- world's largest iron ore producer witnessed drop in iron ore and pellet production for first quarter CY19 due to dam failure in Jan'19 resulting in subsequent halt at numerous mines and tailing dams.
China iron ore future edged up 4% today due to supply crisis from Vale over delay in resumption at Brucutu mines. Vale on Monday (6th May) was ordered by the Minas Gerais Court of Justice (Tribunal de Justiça do Estado de Minas Gerais - "TJMG") to hold production at its Brucutu mines.
Major Iranian iron ore companies produced 26.7 million tonnes of pellets during the last Iranian year (ended March 20,2019), up 49 percent year-on-year.
State Owned, Odisha Mining Corporation (OMC) is all set to conduct the e-auction on 04 May’19. Ores from Sukrangi Mines and South Kaliapani Mines will be put under the hammer during this month’s auction.