The spot price for benchmark 62% fines gained 8.78%, the third largest surge since iron ore pricing first began in May 2009.
BHP Billiton Mining News
This would be the first time BHP reports a annual drop in iron ore output since it completed its merger with Billiton in 2001.
More than 4% rally on Monday stops price just short of $60 on speculation BHP and Rio output will disappoint.
Both miners announce March quarterly numbers this week.
CEO Andrew Mackenzie said over the weekend "the commodities fall has stopped". Not only that – after recent rallies six are back in bull markets.
The mining giant and a security firm that guards major government buildings are among hundreds of Australian names linked to a Panama law firm that helps the rich hide money.
It has also opened offices in Belo Horizonte, which is more than 100 km (70 miles) from its Samarco interests.
New report predicts mining's majors will increasingly move away from diversification strategies to concentrate on competitiveness in certain core sectors.
Volatile metal and mining stocks enjoy another huge rally Thursday as copper jumps to four-and-a-half month high and the iron ore price surges 5.5%.
They have already taken the first steps towards resuming activity, applying for permission to use old mining pits to store tailings.
BHP has cut $130 million from this year's planned $330 million capital expenditure to develop and study the feasibility of the project.
Riding a rocketing iron ore price, market cap of Vale, Rio Tinto, BHP Billiton, Fortescue Metals and Anglo American gain a combined 54% since early February.
Iron ore giants reach deal with Brazilian government to pay $6.2 billion over several years for clean up after November's deadly tailings dam spill.
The Switzerland-based mining and energy giant lost $5 billion in 2015.
Despite the loss and a 94% drop in earnings, analysts believe the company's modest debt of $116 million makes it well-positioned to act on opportunities.
The seven executives, including Samarco's boss at the time of the deadly disaster, are being accused of qualified homicide.
Iron ore and petroleum division heads to leave world number one miner after $5.7 billion loss in six months.
Across the board gains on hopes of renewed Chinese metals demand.
The spin-out from BHP Billiton says it is willing to take on the manganese ore venture if the price is right.
The coal sector is the most likely to axe spending even further this year (38%), ahead of precious metals (25%), a new study found.
The steelmaking raw material is back in a bull market.
The ruling seeks to ensure payment of damages related to a deadly dam rupture at a jointly owned iron ore mine in early November.
Tiny Aston Bay Holdings (BAY-V), a junior with a copper-zinc project in Nunavut, seized the market’s attention by announcing a preliminary joint-venture deal with the world’s largest mining company.
BHP Billiton began evacuating workers from its Port Hedland export facilities early Friday.
New warnings about impact of super-concentrated supply of steelmaking raw material.