Monnet Ispat & Energy’s fiscal 3Q 2009 (ending December 31, 2009) NI rose by 103% YoY to INR680 mn from INR335 mn in fiscal 3Q 2008. Total income for the period fell by 6.97% YoY to INR3,721.9 mn from INR4,000.8 mn in fiscal 3Q 2008, while Total Expenditures declined by 17.9% YoY to INR2,778.0 mn [...]

Dalmia Cement (Bharat) has raised its stake in OCL India to 45.4% from 21.7% percent earlier, in an all cash deal. Dalmia Cement bought 13.46 mn shares, or 23.66%, of OCL India at INR131.83 per share.
Dalmia Cement (Bharat) Ltd. Of India manufactures cement, clinker and sugar. The manufacture and sale of sugar accounts for a [...]

Ezz Steel Rebars, Egypt’s largest steel manufacturer, has raised its February prices for steel rebars free-on-truck (FOT) by 7.5% to EGP3,280 per ton ($698), from EGP3,050 in January. The company said that the increase was driven by price rises of raw materials in global markets. In addition Al Ezz Steel hiked by EGP200 per ton [...]

Gold Fields is in negotiations with labor unions to implement a six-day work week for about 10,000 employees to avoid having to lay off workers, as Eskom’s proposed 35% electricity price hike threatens margins, as electricity accounts for some 17% of mining costs. The South African Mine Health and Safety Act, which requires mining companies [...]

India’s government is planning to float a 10% stake in Coal India, the state-run monopoly producer, rather than the 15% sought by the company, as regulatory provisions preclude it from reserving some shares for employees. The company wants to reserve about 2% of the shares for the employees. The company then envisions a sale of [...]

Ukraine’s alumina export in December 2009 rose by 2.1% MoM to 120.95 th tons, valued at $33.18 mn, but was down by 5.2% YoY from 127.56 th tons. Most of December’s alumina exports went to Russia – 114.27 th tons or 94.5%. FY 2009 alumina exports were down by 0.3% or 4.74 th tons to [...]

Silvinit, Russia’s largest potash producer, has slashed its 2010 investment program nearly in half from RUB5.4 bn in 2009 to RUB3 bn, just about a quarter of its main competitor Uralkaliy, to conserve cash flow ahead of its debt repayment to Sberbank [SBER RU] at year end. Most of the expenditures will focus on maintaining [...]

CNNC International said it would buy a stake in an uranium mine in Niger from its parent for HK$414 mn ($53.3 mn), which will be paid for through an issue of convertible notes.

China Steel Corp appointed Mr Tsou Juo-chi as President, replacing Mr Chen Yuan-cheng, The Taipei Times reported on Thursday, January 21. The appointment is subject to approval by the company’s board. An extraordinary meeting of the board is to be scheduled.
Separately, the Economic Daily reported, citing an unnamed institutional investor, that China Steel’s 2010 pre-tax [...]