Fortescue Metals Group Mining News

Iron ore miners should take advantage of high prices and improve their credit scores: Fitch

The credit ratings and research division of the Fitch Group says producers should take advantage of the current environment of lower supply, healthy demand and higher prices.

Fortescue pares annual iron ore shipments guidance after cyclone

The world's no. 4 iron ore miner cut its fiscal 2019 shipments estimate to 165 million-170 million tonnes, down from 165 million-173 million tonnes.

Iron ore price rally could give BHP, Rio Tinto 30% earnings boost

The supply/demand dynamics benefit Australia’s iron ore miners, according to the latest research by the Macquarie Group.

World's largest iron ore port expects higher exports post Vale

With a market facing a global deficit, the world’s biggest iron ore export port is flagging a timely boost in shipments as Fortescue and rivals bring on new mines in Australia’s Pilbara region.

Fortescue OKs $2.6B expansion of Iron Bridge magnetite project

The announcement follows the company's commitment to build the $1.3 billion Eliwana iron ore mine last year.

Australia clears iron ore ports, miners brace as cyclones approach

The northwestern ports of Port Hedland, Dampier and Ashburton were beginning to clear anchorages and berths.

Tug-of-war: China's steel sector grapples short-term bulls, longer-term bears

China's steel sector is currently locked in a struggle between largely bearish longer-term structural factors and short-term cyclical influences, some of which are bullish.

Not so autonomous: Wifi outage results in driverless truck crash at Fortescue mine

One of the trucks was traveling at low speed and ran into another that was parked at its Christmas Creek iron ore mine in Australia's Pilbara region.

How Industrial Internet of Things is changing the mining industry

The mining industry is facing an upward cycle, and IIoT presents numerous opportunities and benefits to maximise profitability.

Rio Tinto leads copper charge into Western Australia's Paterson region

Rio's interest in the area has sparked a stampede into adjacent lots by other explorers, who see Rio's aggressive activity as an indicator of a highly promising find.

Australia's Port Hedland iron ore shipments to China rise 5% in Sept

Iron ore shipments to China from Australia's Port Hedland terminal rose 5.3 percent in September.

Rio Tinto, Japanese partners to inject $1.55B into Aussie iron ore projects

The company said the investment would enable it to sustain production of its Pilbara Blend brand of iron ore and its Robe Valley lump and fines products.

Australia's Mineral Resources drops out of race for Atlas Iron

The company's withdrawal means all eyes are now on Fortescue, which still has a 19.9%-stake in Atlas and has not yet disclosed whether it plans to launch a rival bid or sell its holding into Hancock’s offer.

Rio Tinto to start building massive Koodaideri iron ore mine in 2019

First production from the Pilbara-based project, which it says it’s one of the world’s most technologically advanced, is expected in 2021.

Iron ore magnate Rinehart offers $290 million in cash for Atlas

The offer from Australian billionaire Gina Rinehart's Hancock Prospecting values Atlas shares at 17% more than price reached at Friday close.

Australia's Mineral Resources okays Atlas talks with other potential buyers

Move comes a day after Fortescue Metals said it had built a stake in Atlas large enough to block a takeover.

Australia's Fortescue takes stake in Atlas Iron, may block buyout

Fortescue said it had agreed to buy a 15 percent stake in Atlas at A$0.04 per share, or A$55.7 million.

Fortescue goes ahead with $1.3bn iron ore project in Western Australia

The Eliwana mine will help the company lift its iron ore grades and so satisfy the new demands of its biggest customer, China, which is increasingly asking for higher quality ore for steel mills to help cut smog.

Iron ore market dynamics are shifting beneath calm facade: Russell

Structural changes in the world's biggest importer, China, are re-shaping how the industry works.

Australia's Fortescue iron ore shipments, price fall in Q3

The iron ore producer reported a 2 percent fall in third-quarter iron ore shipments on reduced demand in China.

Mining billionaire backs outback gas pipeline to ease power woes

The project, being considered by the federal government, may cost as much as A$5 billion ($3.9 billion), according to one industry estimate.

Wood Mackenzie cuts iron ore price outlook as markets fall again

The UK-based research and consultancy group has dropped its price forecast to $63 a tonne or 12% below last year's average of $71 per tonne.

Iron ore dangerously close to $60 a tonne

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

Top iron ore exporter sees price dipping below $50 a tonne by 2019

Australia’s Department of Industry, Innovation and Science sees iron ore prices averaging $50 a tonne next year, and dropping to $49 a tonne in 2019.

China to revoke over 1,000 iron ore mining licences amid pollution crackdown

Figure represents about a third of the country's iron ore mines currently in operations.