Further to the announcement on 16 June 2014, Afarak Group Plc ("Afarak" or the "Company") announces that the Company's subsidiary Turk Maadin Sirketi A.S. (TMS) has resolved to end the lockout at both its Tavas and Kavak mines in Turkey.
Australian coking coal producers have regained their competitive advantage after a Free Trade Agreement inked between China and Australia in Brisbane on the afternoon of Nov 17th saw the immediate removal of the 3% duty on coking coal imports.
China will officially drop the 8% duty on Australian alumina imports, which has not been applied in recent years in any case, under the landmark Free Trade Agreement between the two countries announced Monday.
Brazilian mining giant Vale, currently the world's largest producer of iron ore, has narrowed the discount for its November-loading main Southern System iron ore products to $4/dmt from October's $4.70/dmt discount.