July 10th (Quamnet) – Cape Lambert Iron Ore Ltd said MCC Mining (Western Australia) Pty Ltd, a subsidiary of China Metallurgical Group Corp, has received key Chinese government approval for the acquisition of the Cape Lambert’s Pilbara iron ore project for 400 mln aud.

“The receipt of Chinese government approvals means the sale is now essentially conditional on the approval of Cape Lambert’s shareholders,” said Ian Burston, Cape Lambert’s executive chairman.

Shareholders can consider approving the sale at a meeting scheduled for July 28, he said.

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June 26th (Steel Guru) – PTI reported that ArcelorMittal has formally applied for iron ore mines, ahead of submitting the detailed project report for its proposed Greenfield project in Orissa’s Keonjhar district.

Though ArcelorMittal had not mentioned the name of any specific iron ore reserve, it had applied for PL for mines including Mankadanachha, Malangtoli and Thakurani in Keonjhar district and Badamgadapahad and Balipahada spread over both Keonjhar and Sundargarh districts. ArcelorMittal, which requires 7,750 acres for setting up its plant, CPP and township, was also working on the forest diversion proposal.

Mr Sanak Mishra ArcelorMittal chief for Greenfield projects said that “We have 10% of the total land which required forest diversion clearance.”

Official source said that ArcelorMittal, which is expected to submit its detailed project report to the state government by June end or early July 2008, had applied for a prospecting license as well as mining lease for its proposed 12 million tonnes per annum steel mill. It added that the state government, which was busy in hearing applications for PL over Khandadhar iron ore reserve in Sundargarh district, would begin hearing on other mines after July 2008.

June 13th (Business Standard) – South Korean steel major Posco and others, which are hopeful of getting prospecting licence (PL) for Khandadhar iron ore mines by month-end, may have to wait a few months more as the government is reviewing more applications which may delay the decision, sources said .

Though the steel and mines department had recently said that hearing of applications for the prospecting licence (PL) for Khandadhar iron ore reserve was completed, it has to resume the exercise for 16 other applications as the directorate was unaware of them, official sources said.     

 

The state government, which had completed the hearing of 207 applications last month, would hear a total of 223 now. All the applications were submitted by September last year, sources said.     

 

“The authorities came to know about these 16 applications just before the state government was about to start final processing for formally recommending the name of a company for the PL for Khandadhar,” a senior official said.     

 

“The government will work according to the guidelines of the MMDR Act, 1953,” steel and mines secretary Ashok Dalwai said, indicating that he would soon begin hearing of fresh applications. 

June 5th (Steel Guru) – It is reported that Navakun Mining Co Ltd is seeking any possibility to get the exploration license for iron ore in Thailand. Currently, they are waiting the approval from the Department of Primary Industries and Mines and the minister.

Navakun is a 100%owned subsidiary of Oxiana Limited, an Australia based company mainly operates gold and copper mining. The company hopes to get the license to explore iron ore at Rayong in Chon Buri of Chachoengsao and Chanthaburi provinces.

Navakun Mining said that “At this stage, we do not know if there is any iron ore in the exploration sites. However, if we find what we want, we will seek the mining license.”

Navakun Mining expects that if the exploration was a success, then they will mainly supply the local market and China market.

June 3rd (Stockhouse) – Dome Ventures is in the process of executing an airborne geophysical contract with Geotech Airborne Ltd. on its 12,800-square-kilometre Mitzic licence in Gabon, West Africa. The survey contract calls for approximately 1,200 line kilometres and is expected to commence within one week. The survey will be focused on a number of areas shown to be prospective for gold as a result of Dome’s earlier geochemical programs on the property.

Dome is also in the process of making a number of applications with the Mining Department in Gabon for the conversion of its current Prospection Permit into up to four Exploration Licenses, each having an area of approximately 2,000 square kilometres. This process is expected to be completed by mid September 2008, the second anniversary of the granting of Dome’s Mitzic Prospection Permit.

One area that will be the subject of an Exploration License application has been found to be particularly prospective for iron-ore and Dome is presently negotiating the terms of an agreement under which another company more experienced with iron-ore may take over the iron-ore potential of the license. Subject to the finalization of terms and the conclusion of a formal agreement, Dome expects to make an announcement on this transaction within the next two weeks.

May 27 (The Financial Express) – Tata Steel has received mineral concession approvals from the ministry of mines for two large mines—one for iron ore in Jharkhand and the other for chromeore in Manipur.

Both of these are prospecting licences (PLs). Now as per the rule, the company would have to apply to the ministry for mining leases after completion of prospecting work and outlining estimated reserves.

The concession for Jharkhand mine was granted on April 16. It has total area of 1,808 hectare. The one for chromite in Manipur has a total area of 55.445 sq km. The concession was granted on April 24.

“Getting a prospecting licence does not necessarily mean that we have won the mine now. Even at this point of time, these can be awarded to others, as well. No doubt, since PLs have been awarded to us, we get little priority. We have to submit the prospective reserves in those mines to the ministry,” a company official said.

Tata Steel currently sources 100 % of its iron ore requirement from its existing captive mines in Jharkhand.

May 23 (Myiris) – Jindal Steel & Power (JSPL) is all set to get mining license for 20-billion tons of iron ore deposits of El Mutun mine in Bolivia, reports Economic Times.

JSPL signed a contract with the Bolivian government last year in July to develop El Mutun, which is considered to be the world`s largest iron ore mine with reserves of 40-billion tons.

Jindal Steel Bolivia SA (JSB), a wholly owned subsidiary of JSPL, has already commenced exploration work and now awaiting for mining license.

Shares of the company declined Rs 33.9, or 1.38%, to end at Rs 2431.15. The total volume of shares traded was 129,551 at the BSE.