After a stunning week of gains iron ore is now trading 22% above record lows hit early April.
Jumps 6% on Wednesday to four-week highs despite record-setting production numbers from Big Three.
When asked about how much lower commodities prices will dive this year, Davis said he thought they were close to hitting rock bottom.
The company has become the first big miner to delay a planned output expansion.
Once the darlings of the local market, BHP Billiton and Rio Tinto now face a rocky road as investors accept the reality that lower iron ore prices will last for longer.
The miner defended his decision to boost production, which has led to sinking prices and threatens to put some competitors out of business.
The International Monetary Fund and Standard and Poor's, in turn, predict prices for the steelmaking material are set to fall even further.
But China’s slowdown, rising costs and falling prices may get in the way.
Davis is said to be finalizing talks with a Toronto-listed miner, in a deal that could kick-off a long awaited buying spree.
On the last of a three-day national hearing, BHP and Rio acknowledged they were in ongoing discussions with auditors from the Australian tax authority.
This wouldn’t be the first time Hockey hinders a major corporate deal in Australia.
Iron ore regained its footing Tuesday, but too late for once high-flying Atlas Iron as 13mtpa producer's shares are suspended and receivership looms.
Mostly due to a lower estimate from Anglo American's projects and the Zaldivar mine, which is operated by Barrick.
Unprecedented meltdown continues as iron ore price suffers worst trading day in more than year on Thursday bringing weekly loss to eye-watering 15%.
The mining giant has also asked for local laws to be flexible enough to keep pace with other countries.
The situation, industry officials said Friday, can’t continue for much longer.
The competition watchdog did not welcome chairman Andrew “Twiggy” Forrest call for rivals Rio, BHP and Vale to agree to cap production.
A new study shows the costs of mining for the red metal have steadily declined over the past three years.
There are a number of challenges South32 is likely to face, including potential Black Economic Empowerment ownership concessions and power price hikes.
Board proposes to give shareholders one share in the $12bn spin-off company for every BHP share owned, but the whole process comes with hefty fees.
The world's two largest mining companies believe China's hunger for iron ore isn't about to fade, even as the price is touching new lows.
The iron ore price suffered another steep decline on Friday, falling to the lowest since November 2008 when the SteelIndex benchmark was first introduced.
After more than four years of consultation and environmental studies, the miner has been granted conditional approval by Western Australia’s authorities.
The former Xstrata boss’ new firm may soon pull the trigger on some big deals at a time of low commodity prices and willing sellers.
A raging seven-year drought affecting copper-rich Chile is making miners grow anxious, with BHP and Anglo American already reporting an impact in their operations.
Weak iron ore prices have become the accepted industry norm, but the world's top miner also has bad news for those hoping for a pick-up in the long term.
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