Iron Ore Price Mining News

Down again: iron ore sinks below $40 a tonne

It hit $39.40 a tonne, the lowest price ever recorded by price assessor The Steel Index (TSI), which began compiling data in 2008.

Iron ore prices: the worst is yet to come

Despite the rosy outlook from Australia’s top iron ore producers, they are all facing staggering demand from their biggest customer — China.

BHP yields to pressure and low prices, halts iron ore expansion

The company has become the first big miner to delay a planned output expansion.

Rio Tinto claims it will ‘thrive’ on lower iron ore prices

The miner defended his decision to boost production, which has led to sinking prices and threatens to put some competitors out of business.

Vale’s shares dive as miner posts quarterly loss triggered by iron ore weakness

The world’s No. 1 iron ore producer by volume posted a second consecutive quarterly loss.

Anglo hit by platinum, iron ore units lower earnings outlooks

The miner shed over 3.7% after two of its business divisions — Amplats and Kumba — warned they expected full-year earnings to shrink more than previously flagged.

Iron ore and oil down to financial crisis levels

Iron ore and oil, for ages among the strongest commodities, are on course to end 2014 as the worst performing ones.

Vale to sell 15% of its $3bn Mozambique coal project to Mitsui

The miner confirmed Friday it is in talks “with a potential investor,” but did not name its counterpart.

Vale confirms plans to sell stake in $35 billion base metals unit

Chief Financial Officer Luciano Siani confirmed Tuesday the company's plans to sell a minority stake in its metals-producing unit.

African Minerals halts trading, shuts down Sierra Leone assets

Iron ore project will remain suspended until the company either releases $102 million in restricted cash or can secure other short term funding.

Heads roll as BC Iron forced to cut costs amid weakest price in years

Founding managing director Mike Young among the ones leaving the company.

Iron ore massacre: below $70 for first time in five years

This is almost two-thirds below a peak of $191.90 reached in February 2011, which was when huge new mines were being approved.

Vale iron ore chief abandons ship amid price crisis

The world's largest iron ore producer said the new division head will focus on increasing efficiencies.

Weak iron ore prices cause Vale $1.44 billion loss in Q3

While the miner produced a record amount of iron ore, turmoil in currency and commodity markets overshadowed any production gains.

Vale’s CEO shortlisted to be Brazil’s new finance minister

Analysts say only a business-friendly appointment followed by credible action to strengthen the fiscal accounts and control inflation would reassure markets.

Australia, Brazil to control 90% of global iron ore trade by 2020

Despite iron ore prices touching rock bottom, the top three producers have no plans to slowdown production. Quite the contrary.

Iron ore war: Rio Tinto ‘not standing still’ over BHP’s production boost

The head of the iron ore division, Andrew Harding, defens Rio's own plans to ramp up ore production.

Iron ore war: BHP to be cheapest supplier, Glencore says it’ll hurt Africa

While BHP gets ready to further expand iron ore output, Glencore's Glasenberg warns the move will make investing in African iron ore a less appealing prospect.

China’s iron ore imports to fall in September — report

Shanghai Metals Market warns slim profits and continuous declines in steel prices have dampened Chinese mills’ appetite for iron ore.

Iron ore price hits unwelcome 5-year-low

After flirting with a five-year low for about a month, the iron ore price fell to the lowest price since October 2009.

China’s antitrust crackdown threatens BHP demerger

Following a meeting with BHP’s China boss, Beijing issued a statement saying it believed that “BHP and other iron ore suppliers should avoid abusing dominant market positions."

Iron ore prices approaching 5-year low

Monthly loss up to 8.4%

Iron ore falls again, hits fresh two-year low

If the steel-making material loses another $2 a tonne, it will be the lowest since October 2009.

Largest iron ore miners smashing Chinese competitors

There’s a death match among iron ore producers, with the big Australian miners and Brazil's Vale increasing pressure on their high-cost Chinese rivals.

Rio Tinto planning Australia’s largest iron ore mine

The 70 million tonne-a-year project in the Pilbara is meant to replace other Yandicoogina’s areas that are running out of ore.