Following the news, NMDC shares fell as much as 7.4 percent to 99.20 rupees, their lowest since July 25, marking their biggest single-day fall since Aug. 9.
Iron Ore Mining News
The Innu First Nations filed their lawsuit in 2013, seeking compensation of $900 million.
Rates for dry bulk cargo carriers have collapsed 70% since August.
While the project known as S11D isn’t scheduled to hit its 90-million-ton capacity until 2020, China’s appetite for the mine’s low-cost, high-grade ore continues to grow.
Cavalcanti joins Samarco as it attempts to renegotiate billions of dollars in debt with creditors and restart operations after a tailing dam burst in 2015, killing 19 people.
ArcelorMittal's entry into India comes at a time when Indian steel demand is growing at the fastest pace in the world.
"The cost of everything made of steel, has gone through the roof this year."
Total revenue from operations jumped 63% to 99.82 billion rupees, while revenue from its iron and steel segment surged 73 percent to 86.45 billion rupees.
In the past two years, Cat has been working on growing its offering, particularly in the underground segment, as well as filling up some gaps in terms of trucks sizes.
Several gas pipelines had been damaged after a fire broke out at the plant.
Thirty empty ore wagons ran off the tracks in the southern part of Western Australia on Sunday.
The most actively traded rebar on the Shanghai Futures Exchange closed down 0.2 percent at 3,933 yuan ($566) a tonne, and lost 2.9 percent for the week.
This establishes the record for the largest shipping program ever executed in the Canadian High Arctic.
The miner suspended its rail operations after the incident that wrecked track and left a locomotive and wagons upturned nearly 120 km south of Port Hedland.
The global miner expects to have partial rail operations back up and running in about one week.
The storied miner is going where larger rivals fear to tread, returning to its African roots to tap mineral assets with compelling returns.
Workers at Chinese company Shougang Group's iron ore mine in Peru will return to work on Wednesday.
The state-owned metals and mineral trading firm also signed a 2,400 tonne nickel briquette purchase agreement with Japan's Sumitomo Corp.
The October figure was also down 7 percent from the same month a year earlier, according to port figures.
As part of a new plan to overhaul energy intensive industries, Shandong province is planning to consolidate dozens of small refineries and build mega-petrochemical complexes.
Industry sources say automaker interest bodes well for the contracts, but new contracts usually take years to gain traction and a lack of interest from steelmakers could slow the process.
BHP suspended all its iron ore rail operations on Monday after a train ran away at high speed for nearly 100 kilometres before being forcibly derailed.
Emirates Steel requires inputs of around 6 million tonnes of iron ore pellets per year.
Nippon Steel plans to step up crude steel production in the October-March period, predicting an output of 21.6 million tonnes for the six months, above 20.58 million tonnes a year earlier.
While MMK said it sees stable demand for steel products in its markets, it warns that global steel prices could put pressure on results.