Tata Steel Q1 FY09 net profit soars 22 percent despite price freeze, forex loss India's largest private sector steel producer, Tata Steel has reported 22 percent jump in net profit in the fiscal quarter ended June 30, 2008 on higher exports, despite the government clampdown on hike in domestic steel prices and foreign exchange loss incurred. 02 Aug 2008
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Mining company Rio Tinto to expand Brazil mine Rio Tinto PLC, the world's second-largest iron ore producer, said it will spend $2.15 billion on a major expansion of its iron ore mine in Corumba, Brazil, to help meet increasing demand in South America and the Middle East. 31 Jul 2008
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ArcelorMittal 2Q profit more than double ArcelorMittal SA, the world's largest steelmaker, said Wednesaday its second-quarter profit more than doubled as it increased steel prices to defray higher costs for energy and iron ore. 30 Jul 2008
JSW Steel to invest Rs.6000 crore on expanding capacity, acquiring mines JSW Steel, a part of the $8 billion O.P. Jindal Group, is set to invest Rs.6000 crore ($1.5 billion) during the current fiscal year towards acquiring iron ore mines and expanding existing production capacity. 02 Jul 2008
