Brazil Mining News

BSGR may have to pay $1.2bn for no show at Simandou-related hearing

The company, which could lose the arbitration as a result, will have to pay the amount to former partner Vale.

Chinalco wants to be sole owner of world’s largest iron ore deposit

Move comes barely seven months after Rio Tinto agreed to sell it its stake in Simandou for up to $1.3 billion.

Argentina to pass new mining law this week

Governments, industry players, unions expected to sign federal mining agreement this week, which aims to double investment in the sector to $25bn in eight years.

Here's why the iron ore price is tanking

And why the worst may be over already.

Vale’s first quarter profit lower than expected as rains hurt iron ore output

Net income totalled $2.5 billion, compared with profit of $525 million in the prior three months and almost $1.8 billion a year earlier.

More iron ore comes to the market as Anglo’s output soars in Q1

Both iron ore and diamond output rose in the first quarter thanks to a continued ramping-up of the company's Minas Rio mine in Brazil and improvements in the gem market.

Vale’s iron ore output just hit another record

Production of the steelmaking raw material jumped 11% to 86.2 million tonnes in the January-March period, compared to the same quarter a year earlier.

Iron ore price in free fall

Another gap down Monday brings one-month drop to 30%.

Brazil suspends Belo Sun's gold mine licence, stock collapses

The company's Volta Grande project is posed to become the country's largest gold mine.

Water scarcity, pollution to take shine off Latin American mining sector

In addition to raising costs for miners and delaying certain projects, the focus on the amount of water used by the extraction industry in the region will boost social pressure and anti-mining sentiment, experts say.

Search for ship containing 260,000 tonnes of iron ore continues

The Stellar Daisy, which set out from the a port in Brazil to China, last made contact on Friday. 22 out of the 24 crew members are still unaccounted for.

Iron ore price under pressure from Chinese mine restarts

Iron ore price down 12% in two weeks – Rio Tinto says Chinese domestic reboot is "main source of uncertainty" for the market.

Vale’s new CEO Schvartsman a political move in the right direction — analysts

Fabio Schvartsman will lead the transition of the world’s largest iron ore miner into a new shareholding structure.

US court cancels most of class action against Samarco over deadly dam burst

Vale said the US District Court for the Southern District of New York annulled the majority of a class action lawsuit against the company and executives over the 2015 deadly accident.

Indian billionaire Agarwal goes after 12% of Anglo American

Deal would make of Volcan Investments Ltd., Agarwal's family trust, the second-largest investor in Anglo American.

Rio Tinto chairman Jan du Plessis steps down, set to lead BT

He joins a growing list of chairmen who are leaving some of the world's' top mining companies, including BHP Billiton and Anglo American.

Rio Tinto defers former CEO Walsh bonus over Guinea scandal

Sam Walsh's bonuses, potentially worth millions, had been delayed for at least two years as investigations continue into dubious payments related to Simandou iron ore project in Africa.

Vale swings back into the black on soaring iron ore prices

The world's No.1 iron-ore producer recorded a net profit of $3.98 billion in 2016, a significant recovery from a loss of $12.13 billion it reported a year earlier.

Anglo American not selling assets any more as it returns to profit

The world's number five diversified miner posted its first annual net profit in five years.

FLSmidth awarded first phase of EPC contract for gold mine

Belo Sun Mining Corp. has awarded FLSmidth the first phase of an EPC contract for the Volta Grande gold mine processing plant in Brazil’s Amazon region.

Vale’s iron ore output just hit another record

The world’s No.1 iron ore miner produced 349 million tonnes of the steelmaking ingredient in 2016, helped partly by the opening of its massive S11D mine.

Vale resumes sale of remaining fertilizer assets in Brazil

A reworked sale process for plants located in the southeastern city of Cubatão was reportedly launched in recent days.

Iron ore soars past $92 a tonne, highest price in 2.5 years

Prices for the steelmaking commodity have more than doubled in value over the past year following near-decade lows of $38 a tonne in December 2015.

Locals ask Brazil to suspend Belo Sun’s gold mine licence

Opponents claim the miner intends to use cyanide, depositing toxic waste in a dam located just 1.5 km from the Xingu River, a tributary of the Amazon.

Copper takes some shine off Anglo American’s results

The miner reported broadly higher output in the fourth quarter across all divisions, except for copper, which suffered from lower grades and strikes.