Fortescue Metals Group Mining News

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.

Caterpillar and Fortescue moving forward with expansion of autonomous truck fleet in Australia

Companies have reached agreement for the expansion of Cat® Command for Hauling at Fortescue’s iron ore mines in the Pilbara region of Western Australia.

Iron ore sheds almost 4 pct more — worst week since May 2016

The commodity has fallen every week so far in September.

Australian court rules against Fortescue in mining land case

While the decision doesn’t ban Fortescue from continuing to operate the mines, it paves the way for the group to sue the company for hundreds of millions of dollars in compensation claims.

Iron ore price soars

China bulls kick iron ore price 6.5% higher.

Iron ore crashes again to below $58 a tonne

Ore with 62% content in Qingdao lost $2.33 a tonne to close at $57.91, data from the Metal Bulletin shows, hitting a seven-month low and marking the commodity third consecutive weekly fall.

Iron ore to hit $44 a tonne by 2021 — analysts

BMI Research expects prices to continue sliding for at least the next five years on rising supplies from Australia and Brazil and evidence of Chinese demand cooling earlier than expected.

Iron ore to slide below $46 a tonne by 2021 — analysts

BMI Research expects prices to continue sliding for at least the next five years on rising supplies from Australia and Brazil and expectations for a surplus.

Iron ore sharp recovery helps Fortescue nearly quadruple profit

The world's fourth largest miner of the steelmaking ingredient said it also benefitted from declining costs.

Australia’s record-breaking mining exports hint of new sector boom

Higher commodity exports delivered a record trade surplus of $3.5 billion in December, the second monthly trade surplus Australia has recorded in nearly three years.

Solomon gets green light for 3-fold expansion

Australia's EPA has sanctioned a three-fold expansion of Fortescue Metals Group's (ASX:FMG) Solomon Hub, which could sustain production for another 35 years.