ArcelorMittal Kriviy Rih, Ukraine-based subsidiary of the world's largest integrated metals and mining company ArcelorMittal, intends to implement a project for processing oxidised ores.
ArcelorMittal Kriviy Rih currently produces raw materials for its own needs, which include magnetite and oxidised ores. Magnetite ore is used for the production of concentrate which is required for pig iron production, while oxidised ore is stored in tailing dumps.
Christopher Cornier, member of ArcelorMittal Group management board said, "We produce eight million metric tons of sinter per year and with the introduction of oxidised ore processing technology, the production will double," The management of the company did not disclose its investment plans for the project in question.
According to experts, if ArcelorMittal Kriviy Rih implements its ore oxidation project, it will not only be able to fully satisfy itself with raw materials, but also export them. "In this case, ArcelorMittal will be able to provide from Ukrainian raw materials to its companies in Central and Eastern Europe, which currently buy raw materials from Metinvest and Ferrexpo," Sergiy Gayda, Senior Analyst of Kiev-based investment bank Dragon Capital, said.

A Canadian judge was urged by US Steel Corp. to cast off the government lawsuit alleging that it failed to live up to commitments it made when Stelco Inc. was acquired.
But, Canada's Federal Court decided to sustain the Investment Canada Act, which governs foreign investment in Canada.
Michael Barrack, Council for US Steel argued that the Investment Canada Act is unconstitutional because it's too vague and doesn't give companies a proper right to defend themselves. Investors can justify why they didn't comply with commitments made under the law, but aren't told how, he said.
"An investor is left to guess what 'justifies non-compliance' means," Barrack said. The government is seeking as much as C$14 million (US$13.5 million) in fines, or an order forcing US Steel to sell the Canadian operations, for failing to meet commitments that include maintaining employment levels and steel production at the plants in Hamilton, Ontario, Barrack said.
Tony Clement, Industry Minister said that the government can force US Steel to live up to obligations made when it took over Stelco; Canada's last domestically owned steel mill. Clement said Canada can even unwind the deal, claiming the company broke its commitments under a law covering foreign takeovers.
US Steel recognises it failed to uphold two promises made at the time Stelco was acquired; due to the sudden economic crisis faced by companies' world over, which left US Steel with no other option. The operations had 'shrunk to only 23 percent of the more than 3,000 workers it promised to employ' at the time of the acquisition.
The Canadian Federal Court will hear arguments on the matter in the future, for which a firm date is yet to be set.

The Government of Liberia has signed a deal with Australian mining giant BHP Billiton to go ahead with a US$ 3 billion iron ore project.
Mineral Development Agreement (MDA) will allow BHP Billiton to continue exploring for iron ore at Goe Fantro, Kintoma, St John River South and the Tolo Range, Richard Tolbert, Chairman, Liberia's National Investment Commission said, adding that the deal is subject to approval by parliament.
BHP has spent US$ 50 million on exploration in Liberia since 2005, pointing out that the leases are near an existing 250 kilometre-long rail corridor that runs from Liberia's border with Guinea to the Liberian coast.

Australia-based coal miner Hunu Coal, which has assets in Mongolia, has acquired a 60 percent interest in the Buyan coal project, which is located within the giant Tavan Tolgoi coking coal field in the Umnugobi province of Mongolia.
The Tavan Tolgoi coking coal field is estimated to host over six billion metric tons of coking and thermal coal in the South Gobi region of Mongolia. The company said that operating mines within 10 km of the acquired region are currently exporting coking coal to China.
The existing infrastructure is in place and plans are advanced for the construction of a rail line, the company said, adding that it will be undertaking detailed exploration on the project in the coming months.

Higher prices and continued strong demand in China have benefited the European steel industry, but the recovery remains fragile, according to Moody's Investors Service.
Moody's Analyst Matthias Hellstern concluded that the overall outlook for steelmakers is stable with most European plants running at full capacity amid restocking and a seasonal increase in business. "Steel prices also seem to have peaked, predominantly driven by recent strong demand," he said.
While the first half of 2010 might have actually recovered faster than predicted, Hellstern said he sees demand from the construction industry remaining weak over the next six to 12 months.

Ukraine's Ministry of Coal Industry plans to invest UAH 47.3 billion (about US$ 6 billion) over the next five years (until 2015) for the implementation of development projects involving technical re-equipment and construction at 63 state-owned coal mines.
Accordingly, the funds in question will be invested in coal mining enterprises in Ukraine's Donetsk region (UAH 25.5 billion), in the Luhansk region (UAH 19.5 billion), Lviv region (UAH 2.1 billion), and Volyn region (UAH 0.2 billion). In 2010, for the implementation of the mine development projects, the government will invest UAH 6.9 billion (about US$ 872 million). Beside the state, the sources of investments will also include private investors and banks.
As a result of the implementation of these investment projects, in 2015 Ukraine is to increase its coal output by 54 percent compared to 2009 to 60 million metric tons.

President of Venezuela Hugo Chavez has suspended a national electricity rationing plan saying that the grid had been strengthened by new investments in thermoelectric plants and heavy rains that filled up reservoirs.
Chavez said that rationing hurt economic growth in the first quarter and diminished steel and aluminum production. He added that, “I feel a great spiritual relief because I suffered through these measures that we had to take. This shows our capacity to confront crisis after crisis.”
It may be noted that the rationing began in January 2010 as the government ordered a 20 percent reduction in electricity consumption amid a drought that threatened to dry up hydroelectric dams and collapse the power grid. Venezuela's economy contracted 5.8 percent in the first quarter as some stores were forced to close for several hours a day and metal processing plants suspended operations.
Chavez also said that the government will spend US$ 4 billion this year to install more than 5,000 MWs of generation to avoid future problems.
Electricity Minister of Venezuela Ali Rodriguez said that the government will progressively restore power supply to the country's largest steel mill, Siderurgica del Orinoco and aluminum producers that form part of the state run heavy industries holding company Corporation, Venezolana de Guayana.