Mechel OAO, one of the leading Russian mining and metals companies, announces the consolidation of its ferroalloy assets on the bases of its Oriel Resources subsidiary. In the spring of 2008, Mechel OAO purchased Oriel Resources Company, which comprised of Tikhvin Smelting Plant ZAO (St. Petersburg region), Voskhod Chrome Deposit and Shevchenko Nickel Deposit (Kazakhstan). Among the enterprises representing... Read more..
Altius announce drill core assay results have been received for the first four drill holes from its Kamistiatusset iron ore property located 10 km southwest of Wabush Mines in the heart of the iron ore mining district in western Labrador, Canada. A work program consisting of 24 drill holes totaling 6008 metres has been completed. Summarized assay results from the first four drill holes are provided... Read more..
Nettel Holdings Inc. announces 4 new long term contracts for its Tougi Metals division. In order to implement these contracts and eliminate any risk of payment to Tougi from these new buyers, a Letter of Credit (LC) has been issued from their respective financial institutions. This means that they have already paid for the steel they intend to buy, and the financial institution will guarantee payment.... Read more..
Cardero Resource Corp. announce that it has entered into an agreement with Nanjinzhao Group Co., Ltd., a private Chinese enterprise located in Zibo City, Shandong Province, PRC, whereby Cardero Hierro del Peru, S.A.C., the holder of the Pampa de Pongo Iron Property, will sell its 100% interest to Nanjinzhao for a total purchase price of USD 200 million. “We are extremely pleased to have been... Read more..
Gerdau Ameristeel, a leading mini-mill steel producer, announced today that it has acquired Metro Recycling, a scrap processor headquartered in Guelph, Ontario. Terms of the transaction were not disclosed. Metro Recycling is a premier central Ontario recycler with three locations, two in Guelph and the other in Mississauga. “Metro’s operations and experienced leadership team will enhance... Read more..
Alcoa Wheel and Transportation Products announced today that it has been selected by Ferrari S.p.A. to supply the all-aluminum spaceframe for the upcoming Ferrari California. The California, recently unveiled at the Paris International Motor Show, is the latest performance vehicle from Ferrari. The strength and lightweight advantages of Alcoa’s aluminum technologies allow Ferrari to maximize performance,... Read more..
China Precision Steel, a niche precision steel processing Company principally engaged in producing and selling high precision, cold-rolled steel products, today announced that its market share is expanding as the Company is receiving increased orders from manufacturers in China and Africa. “We are experiencing strong demand for our high precision, cold-rolled steel products despite the current... Read more..
AK Steel announced that its board of directors has approved a stock repurchase plan and authorized the company to repurchase up to $150 million of its outstanding common stock shares. The company currently has 112.5 million diluted common stock shares outstanding. The shares may be repurchased from time to time in open market or privately negotiated transactions at the company’s discretion. The... Read more..
North American Galvanizing & Coatings, Inc. (NasdaqGM:NGA – News) announced today earnings for the first nine months and the third quarter of 2008. All per share data are reported on a fully-diluted basis and have been adjusted to reflect the effect of the September 14, 2008 four-for-three stock split effected by a stock dividend. ADVERTISEMENT Consolidated net earnings for the 2008 third... Read more..
Sutor Technology Group Limited, a leading provider of steel finishing fabrication products in China, today announced that it has received patent approval for bakeoven renovation in PPGI production line from the State Intellectual Property Office of China. The patent technology is expected to save energy, increase production capacity, and improve product surface quality. Xun Zhang, the CTO of Sutor,... Read more..