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Mittal figured he could cut his raw-material costs in half by buying direct-reduced iron rather than scrap.
FORBES: Carnegie would be jealous
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The purchase made Ispat one of the world's largest producers of direct-reduced iron, at 7 million tons a year.
FORBES: Carnegie would be jealous
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He read about something called direct-reduced iron, a technique for smelting without melting--removing the oxygen from iron ore while it's still solid, that is.
FORBES: Carnegie would be jealous
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Together, the argument goes, the two companies could better direct scarce resources to extract iron, copper, nickel and so on where the most value is to be gained, and do so faster than they could individually.
ECONOMIST: BHP Billiton and Rio Tinto
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It is also a major supplier of direct-shipping lump and fines iron ore out of Australia.
FORBES: Cliffs Stokes North American Coal Sales, Stock Good For $103
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The Asia Pacific iron ore division provides four direct shipping export products to Asia via the global seaborne trade market, and has a rated annual production capacity of 9 million tons of iron ore.
FORBES: How Cliffs Can Get To $140
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There is no cast-iron guarantee that the centre can direct spending much better than the localities do.
ECONOMIST: China
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China is the lead consumer of Brazilian soybeans and iron ore, not to mention a new foreign direct investor in Brazilian natural resources and infrastructure.
FORBES: Brazil VP Tells China Delegation: Country Getting China Wary
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With its iron frame, the flax mill is considered as the direct forerunner to the skyscraper and project officer Fay Bailey said it was of "international significance".
BBC: Ditherington Flax Mill in lottery funding bid
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And with traditional movie funding sources drying up, Hollywood studios increasingly see Beijing as a bankrolling destination of choice, with Chinese counterparts ponying up on glitzy co-productions, including "Iron Man 3" and next year's "Transformers 4, " and films without a direct China connection as well.
NPR: Hollywood Yielding To China's Growing Film Clout