Iron Ore News

Iron ore mining, investment and price news

Cliffs Resources officially shutting Canadian Wabush Mines

Cecilia Jamasmie | October 31, 2014
Cliffs Resources officially shutting Canadian Wabush Mines

About 500 workers will lose their job.

BHP’s Olympic dam expansion off agenda until prices improve

Cecilia Jamasmie | October 31, 2014
BHP’s Olympic dam expansion off agenda until prices improve

The miner blamed low metals prices and productivity inefficiencies for the decision.

Weak iron ore prices cause Vale $1.44 billion loss in Q3

Cecilia Jamasmie | October 30, 2014
Weak iron ore prices cause Vale $1.44 billion loss in Q3

While the miner produced a record amount of iron ore, turmoil in currency and commodity markets overshadowed any production gains.

Vale’s CEO shortlisted to be Brazil’s new finance minister

Cecilia Jamasmie | October 29, 2014
Vale’s CEO shortlisted to be Brazil’s new finance minister

Analysts say only a business-friendly appointment followed by credible action to strengthen the fiscal accounts and control inflation would reassure markets.

Space miner loses first satellite in rocket explosion

Cecilia Jamasmie | October 29, 2014
Space miner loses first satellite on rocket explosion

The affected company is Planetary Resources, the U.S.-based start-up aiming to mine asteroids.

Iron ore price sinks as Beijing cracks down on smog

Frik Els | October 28, 2014
Iron ore price sinks as Beijing cracks down on smog

China imposes strict pollution controls ahead of Beijing APEC summit forcing steel mills to cut output.

Russia pushes forward plans to mine the moon

Cecilia Jamasmie | October 28, 2014
Russia is seriously advancing plans to mine the moon

The country's ultimate purpose is to extract rare earth elements, breaking China's dominance and pushing prices down.

Anglo American ships first iron ore from Brazilian Minas-Rio project

Cecilia Jamasmie | October 27, 2014
Anglo American ships first iron ore from Brazilian Minas-Rio project

Once again Cutifani delivers — freight from Minas-Rio leaves for China by year-end and within the latest estimated budget.

BHP to sell US shale assets, limit annual capex to $14 billion

Cecilia Jamasmie | October 27, 2014
BHP to sell US shale assets, limit annual capex to $14 billion

The world’s biggest miner unveiled details about how it expects to meet cost-reduction and productivity improvement targets.

Brazil’s Vale close to becoming world’s largest nickel producer

Cecilia Jamasmie | October 24, 2014
Brazil’s Vale close to becoming world’s largest nickel producer

The miner beat estimates after logging a 16% jump in Q3 nickel production, taking total output of the metal this year to 201,400 metric tons.

Iron ore and rare earth metals mining: an industry under siege?

The Guardian | October 24, 2014

Resource scarcity and human rights issues surrounding metals extraction, coupled with unrelenting global demand mean the industry is facing some tough realities.

Hopes for Ontario’s Ring of Fire doused as mining companies grow wary

Globe and Mail | October 22, 2014

Ontario’s “Ring of Fire” mineral belt was supposed to be a $60-billion natural resources treasure trove that would bring employment and economic prosperity to a remote part of the province’s north. It hasn’t worked out that way.

African Minerals founder to buy broke London Mining's Sierra Leone assets

Cecilia Jamasmie | October 22, 2014
African Minerals founder to buy broke London Mining's Sierra Leone assets

Frank Timis has got $20 million to acquire the mine bordering its own iron ore project Tonkolili.

BHP shoots the lights out

Frik Els | October 21, 2014
BHP shoots the lights out

Petroleum, met coal, iron ore production set new quarterly records. Fall in copper volumes not enough to dent 9% overall output growth.

Citibank acquires Deutsche commodities trading book

Cecilia Jamasmie | October 21, 2014
Citibank acquires Deutsche commodities trading book

Tough regulations and worries about reputation have made trading commodities a source of worries for bank bosses.

IMAGE GALLERY: Gorgeous satellite photos of mining and shipping

Michael Allan McCrae | October 20, 2014
images tab google chrome earth mines two

Warning, the extension looks great but it is not conducive to productivity.

Mining investment in Kazakhstan to reach $30bn by 2017

Cecilia Jamasmie | October 20, 2014
Mining investment in Kazakhstan to reach $30bn by 2017

The country is fine-tuning details of a new mining law that will make it easier for foreigners to tap the nation’s riches.

Supreme Court-appointed panel raps Jindals, 13 other firms for flouting mining rules

DNA India | October 19, 2014

The central empowered committee (CEC), constituted by the Supreme Court, has called the relationship between Sharda Mines (P) Ltd (SMPL) and Jindal Steel and Power Ltd (JSPL) unholy and illegal.

Cliffs the newest victim of iron ore price slump: to take $6bn charge

Cecilia Jamasmie | October 17, 2014
Cliffs the newest victim of iron ore price slump: to take $6bn charge

The miner said the move was driven by its revised pricing outlook and adverse market conditions.

Frik Els

New projects need $90-$100 iron ore – UBS

Frik Els | October 16, 2014
Iron ore rally turning into dead cat bounce

Big three successfully defending their oligopoly says new report.

Ebola strikes down West African iron ore company

Frik Els | October 16, 2014
London Mining shares ‘worthless’ due to funding fears

Bankrupt London Mining's Marampa mine in Sierra Leone hit by iron ore price falls, slow ramp up and viral outbreak.

Iron ore price crushed again

Frik Els | October 16, 2014
Iron ore price crushed again

Those calling a market bottom after Monday's surge and Chinese import gains may have been premature.

Brazil’s iron ore giant MMX seeks bankruptcy protection

Cecilia Jamasmie | October 16, 2014
Brazil’s iron ore giant MMX seeks bankruptcy protection

Ex-billionaire Eike Batista’s main mining unit became the third of his companies to file for bankruptcy protection in a year.

BHP bows to pressure, to list spinoff in London

Cecilia Jamasmie | October 16, 2014
BHP bows to pressure, to list spinoff in London

The mining giant has made a sharp U-turn on its initial decision to snub a London listing for its $17 billion spinoff.

BlackRock blames Ebola for London Mining mess

Frik Els | October 15, 2014
Guinea on national emergency over Ebola, mining operations threatened

And the rapid fall in the iron ore price, the Sierra Leone miner's dispute with Glencore and the slow rampup. But especially Ebola.

China's inland mills could be in market for 300mt seaborne iron ore

Frik Els | October 15, 2014
China's inland mills could be in market for 300mt seaborne iron ore

New research shows inland Chinese steel mills pay a 35% premium over seaborne benchmark with 210mt of steel capacity potentially looking for alternatives.

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