Iron Ore Mining News

Rio Tinto net earnings up 194% over last year

Rio Tinto announced net earnings of US$14.324 billion in 2010, up from US$4.872 billion in 2009. The company also announced a $5 billion share buy-back program and a 20 per cent increase in its dividend […]

Coveted Chiria deposit will be mined by Steel Authority

Steel Authority of India Ltd. announced on Thursday that it had received government approval to mine Chiria deposits located in Jharkhand, India. SAIL describes the deposit as vital for the existing and future expansion plans […]

Rio Tinto to spend US$1.2 billion in Canada, Australia

Australia Business Reviews reports: Rio Tinto’s quest for world domination in the mining industry continues with its latest US$1.2 billion investments in mining projects in Canada and Australia.

IOC to expand iron ore production

Rio Tinto has green-lighted an expansion of the Iron Ore Company of Canada (IOC)  facility in Labrador City, Canada. The second of a three-stage Concentrator Expansion Program was halted in 2008 due to the financial […]

Iron ore prices remain stable while China slumbers

With China out of the picture for the Lunar New Year holiday, spot iron ore prices show minimal variation.

Mining magnates top Forbes list of richest Australians

Georgina Rinehart is Australia's wealthiest individual with an estimated net worth of $9 billion, according to Forbes list of Australia's 40 Richest released on Wednesday. Rinehart's net worth rose $7 billion from the previous year's […]

India seeing growth in aluminium, coal, iron ore and more – IM reports

The March issue of International Mining will include a detailed report onthe mining industry of India and its future plans. It is gearing up for the XII Five Year Plan.

CAP to post over $300m in profit for 2010

Chilean steel and iron ore producer CAP said on Monday it would post a profit of over $300 million for 2010, not including a $290 million gain stemming from the sale of part of its […]

No End in Sight to Commodities Boom: Panelists

The bull market for commodities that made 2010 a banner year for mining and mining exploration is likely to continue throughout 2011, according to three panelists who addressed the question at a recent forum in Vancouver, Canada.

Palladium a hot metal favorite in 2011

First things first: North American Palladium has moved 51% higher over the past thee months. This is just one example of how palladium and platinum miners are substantially outperforming the broader market as sentiment has gone from bullish to “just buy the thing.”

Global iron ore market in flux

The iron ore market will never be as a sexy as its gold and silver counterparts; it’s much more about hard hats and dirty Dodge RAM 3500 trucks – you know, the ones that can pull big fishing boats up mountainsides, something I did just this past weekend.

ArcelorMittal, Nunavut Iron Ore close in on Baffinland acquisition

It's all over but the shouting as ArcelorMittal and Nunavut Iron Ore Acquisition close in on their joint quest to control 100% of Baffinland Iron Mines and its Mary River project.

BC Iron board agrees to takeover worth US340m

Regent Pacific, a Hong Kong listed mining investment house, has received the nod from directors of BC Iron Ltd to take full control of the new Pilbara iron ore miner.

Adriana to form JV with Wisco on Quebec project

In yet another deal involving a Canadian iron-ore firm, junior Adriana Resources announced on Monday evening that it has signed a binding framework agreement with China's Wisco International Resources Development & Investment for a partnership […]

Fortescue puts more shipping runs on the board in December quarter

Despite the cyclone season that hits Western Australia in summer, Fortescue Metals posted a 9% jump in iron ore production in the December quarter.

ArcelorMittal, Nunavut Iron team up for successful Baffinland bid

Canadian Mining Journal reports: Almost four months have passed since Toronto-based Nunavut Iron Ore first proposed a takeover of Baffinland Iron Mines, owner of the Mary River iron ore project 160 km south of Mittimatalik (Pond Inlet). Nunavut Iron offered US$0.08 per share, an offer that had the Baffinland board saying "no thanks."

Building an iron ore mine in the arctic will be costly

Reuters catalogues some of the challenges to develop the Mary River iron ore deposit: "Iron ore's not like gold. A little bar of gold is worth a huge amount of money, you can just fly […]

Vanadium Boost Would Give Batteries More Juice

Don't look now, but vanadium demand is ramping up, according to Jon Hykawy, head of global research with Toronto-based Byron Capital Markets. Vanadium is mostly used to strengthen steel, but the metal could see its demand dramatically increase if battery manufacturers start using it to boost power output in lithium-vanadium cells. In this exclusive interview with The Gold Report, Jon talks about some potential demand drivers for vanadium and some companies looking to capitalize on the impending boost in vanadium use.

Haranga Resources: positive magnetic survey at the Sumber iron ore project

Haranga Resources Limited (ASX: HAR) has completed a magnetic survey at the Sumber iron ore project located in Mongolia, less than 50km from the Chinese border crossing at Hangi Mandal. The survey reveals that the three distinct iron outcrop zones

Cliffs to Buy Consolidated Thompson for $5 Billion

Cliffs Natural Resources said on Jan. 11 that it had agreed to buy Consolidated Thompson Iron Mines for nearly $5 billion in cash, seeking to bolster its presence in Canada, the New York Times reported.

Fortescue Investing $8.4B to Expand Iron Ore Production

Fortescue Metals has approved capital expenditures totaling $8.4 billion to expand its iron ore production in Western Australia from 55 million to 155 million mt/y over a period of 30 months. The expansion and spending […]

Cargill to work with Magnetation on low grade iron ore recovery

Agricultural giant Cargill has taken a step into the iron ore mining and processing sector, with the announcement of an agreement with Magnetation Inc of Nashwauk, Minnesota, under which the companies will explore opportunities “to develop and utilise Magnetation’s proprietary […]

Cargill to work with Magnetation on low grade iron ore recovery

Agricultural giant Cargill has taken a step into the iron ore mining and processing sector, with the announcement of an agreement with Magnetation Inc of Nashwauk, Minnesota, under which the companies will explore opportunities “to develop and utilise Magnetation’s proprietary mineral processing technology.” According to Magnetation, the patent-pending Rev 3 separator technology allows mining operators to recover a marketable, high-grade [...]

Canadian regulators to hear arguments over Baffinland takeover battle

The hearings by the Ontario Securities regulators will address whether Nunavut is capable of carrying out its C$1.45 per share offer for 60% of the iron ore miner TORONTO (Reuters) - Canadian security regulators will hear arguments on Thursday for

ArcelorMittal won't extend Baffinland bid deadline to accommodate OSC

The world's largest steelmaker, Luxemburg-based ArcelorMittal, is standing firm on its Dec. 29th deadline for acceptance of its Cdn$407 million bid for Baffinland Iron Ore Mines. Read more