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Iron Ore News Digest
Monday 23 October 2017
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Figure represents about a third of the country's iron ore mines currently in operations.

Iron ore production rose 3.3% compared with the same period last year to hit a fresh quarterly record of 95.1 million tonnes.

Move is part of a wider review of low performing assets after new Chief Executive Fabio Schvartsman took charge in June.

Fire shrinks Mt Whaleback iron ore production, but output at world's largest copper mine Escondida in Chile jumps 23%.

Delayed ramp-up at Escondida, mine sequencing at Kennecott.

Despite new report predicting zero steel demand growth in top consumer China.

Precious metals miner said its platinum group metals (PGM) operations had delivered "solid operational results" in the first-half of 2017, prompting an upward revision to its 2017 production forecast and a downward revision to guided costs.

Monthly cargoes top 100 million tonnes for the first time ever.

Ongoing concerns that looming steel production cuts in China on environmental grounds will sap steel mill demand continue to weigh on prices.

The world's top iron ore exporter said companies have benefited from a recent price rally, and thus may have continued producing at full tilt. The resultant oversupply may bring on exaggerated price weakness.

Mine is expected to generate about 300,000 ounces annually by late 2021/early 2022, increasing total PGM production from Sibanye’s operations in the US by more than 50%.

Staff sitting hundreds of km away oversaw successful pilot run.

At three-month low with $50s now in sight.

A strong price recovery for the main commodities South Africa mines and exports has helped the country’s sector stage a turnaround in 2017, the first time in five years the industry is back in the black.

Sampling work at Ontevreden, part of the Vutomi joint venture, seems to prove the presence of high-grade kimberlite pipes.

Following its emergence from bankruptcy protection three months ago, Stelco filed Wednesday a preliminary prospectus with securities regulators in Canada for a proposed initial public offering of its shares.

There is a strong correlation between the location of BIF caves and the presence of iron ores of global economic significance

It would have opened up for mining a vast national reserve in the country’s Amazon, larger than the size of Switzerland.

China is expected to slash in half the rate of steel production in Tangshan, a city in the north-east that produces 11 per cent of the country’s total output

Jeremy Corbyn, whose Labour Party came second in the 2017 UK general election, has reached out to communities hit hard by the downtown in the coal and steel industries.

Public prosecutor for the state of Minas Gerais, where the iron ore mine is located, ordered the company to reschedule two public meetings as it had failed to inform of it to all communities potentially affected by the planned expansion.

The commodity has fallen every week so far in September.

"[W]e expect growth in China to ease modestly over the short-term, as monetary policy tightens and housing and automotive markets soften," Mackenzie said.

A waddle of penguins has stopped a $2.5bn (£1.9bn) mining project in Chile.

Representatives from Elliott have in the last month met with major BHP investors based in London, South Africa and Australia to lay out the activist fund's arguments for an overhaul of the miner.

Overall, September iron ore shipments from the world's biggest export terminal for the steelmaking raw material increased to 43.4 million tonnes from 42.8 million in August.

Mills in some northern Chinese cities ordered to cut output, acting on government policy to fight smog caused by pollution from industrial plants.

George Glasier thinks the uranium price hovering around $21 means that there is currently enough supply to meet demand in the market.

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