India's Ministry of Mines has approved a plan by state-run National Mineral Development Corp. to boost iron production from the Kumaraswamy mines in Karnataka by 42.8% to 10 million mt/year, the state-run miner said late Wednesday, giving a boost to its domest...

The iron ore options started trading at the Dalian Commodity Exchange (DCE) on Monday.

This means that China might have a chance to challenge some of the traditional options trading markets such as Singapore.

SMB, together with Singapore's Winning, won a tender to develop Simandou's blocks 1 and 2.

"The trend is for prices to gradually dip down but the path will be really bumpy," Liao said.

Prices of mid-grade Brazilian fines were up on Wednesday October 30, with a Brazilian Blend fines (BRBF) cargo fetching $85.60 per tonne.

ferro-alloys.com:Karnataka mining bodies expecting a drop-off in iron ore prices

The lease extension will be granted after an application has been made by the state-run company.