Iron Ore Mining News

Metso to supply rotary railcar dumper to Australia

Metso will supply a single tandem rotary railcar dumper to Hamersley Iron Pty Ltd for its Cape Lambert, Port B iron ore operation in North Western Australia. Read more

Nunavut to benefit from 'tsunami' of money flowing into Canadian mining, oil and gas: Nunatsiaq Online

Nunavut is attracting the attention of the world's miners like never before, says Scotiabank commodities analyst Patricia Mohr, speaking at a mining summit in the mineral-rich Canadian northern territory. Nunatsiaq Online reports: Pushed by the developing world’s growing hunger for consumer items, civil unrest in many countries, and “random” events like the recent tsunami, earthquake and nuclear power plant disaster in Japan, mining companies around the world are eying Nunavut with far more interest than before.

Australian regulator halts Regent Pacific's attempt to drop BC Iron bid

Hong Kong-based Regent Pacific Group Ltd said it would consider reinstating debt funding for its original bid for Australian iron ore producer BC Iron Ltd. This move follows a decision by Australia's Takeovers Panel declaring a case of "unacceptable circumstances" for Regent's "purported termination" of its takeover scheme with BC Iron.

LIM announces $110 million equity financing

Labrador Iron Mines Holdings Limited (TSX:LIM) announced that in connection with its previously announced public offering on April 4, 2011, it has entered into an agreement with a syndicate of underwriters to sell 8 million common shares of the company at C$12.50 per common share and 666,700 flow-through shares at C$15.00 per share for aggregate gross proceeds of C$110,000,500.

Vale expects rise in total iron ore output to 320m tonnes

The Brazilian group, which produced 311m tonnes last year has previously said it is planning to raise its annual output to 522m tonnes by 2015 on the back of an expectation that demand growth will […]

Vale names Murilo Ferreira CEO under government pressure

The former Vale executive, who has previously led the group's Canadian nickel operations, will take up the post on May 22 and will have to placate not only politicians but also investors used to strong […]

Brazil considering iron ore export tax?

Brazil's government is considering creating an iron ore export tax meant to spur investment in local steel production, a leading Brazilian newspaper reported on Friday. Advisors to President Dilma Rousseff have asked the finance ministry to study a measure that would tax iron ore exports and exempt steel exports, the newspaper O Estado de S.Paulo reported on Friday, citing a source in the presidential palace.

Major processing breakthrough for Roper River Iron Ore Project delivers 61% Fe product

Sherwin Iron Limited (ASX: SHD) says that fresh metallurgical testwork on the oolitic hematite from its Roper River Iron Ore Project in the Northern Territory using a simpler processing route has delivered an end product […]

Thiess and Leighton Contractors win key iron ore and gold contracts

Leighton Holdings subsidiaries Thiess and Leighton Contractors have announced three important new contracts. Thiess has secured a $166 million contract to provide bulk earth works and selected infrastructure for BHP Billiton Iron Ore’s Jimblebar mine near Newman in Western Australia.

General Director of MMC Norilsk Nickel meets South African President

Vladimir Strzhalkovsky, the General Director and Chairman of the Management Board of MMC Norilsk Nickel (the Company) met with the President of the Republic of South Africa Jakob Zuma in RSA. The meeting was held as part of the General Director's business visit to the Republic of South Africa. The parties discussed further development of the Company's projects in RSA.

Vale's future depends on execution of capex spending plan – Morgan Stanley

The ability of mining giant Vale (VALE.N: Quote) to execute on its capital spending plans will be paramount for its stock to rise, according to a Morgan Stanley report on Monday. Analysts Carlos de Alba and Bruno Montanari said that Peru's Bayovar, Vale's first greenfield project outside Brazil, "offers a good example that the company can deliver."

New African production could set stage for iron ore price declines: SMH

As quoted in today's Sydney Morning Herald, U.S. economist Dale Hale says the surge of iron ore from Africa could break the dominance of Australia and Brazil in the setting of iron ore prices, and lead to eventual price declines. The story says at least 20 mines could open in a region spanning Liberia, Guinea, Sierra Leone and Cameroon by 2015, with aggregate output of 600 million tonnes per year.

Moly Mines third iron ore shipment departs Port Hedland

Moly Mines Limited (TSX:MOL)(ASX:MOL) is pleased to confirm the 3rd shipment of iron ore fines has today sailed from Port Hedland, destination China. The vessel is carrying 70,202 wet metric tonnes of iron ore grading […]

Brazilian media reports Vale CEO ousted

Brazilian mining company Vale has pushed out Chief Executive Roger Agnelli under heavy government pressure and is in discussions to replace him with an executive from within, local media reported on Sunday. President Dilma Rousseff has used the government's influence as a key Vale (VALE5.SA: Quote) shareholder to insist the company remove Agnelli following years of accusations it was not doing enough to bolster Brazil's economic development.

ArcelorMittal emerging as world's No 5 iron ore miner

According to RBC Capital Markets, when ArcelorMittal reports mining assets separately, AM Mining could rank as the fifth largest iron ore producer globally.

Expect billion-dollar expansion in Australian iron ore, coal: BHP

Diversified mining behemoth BHP Billiton is expected to pour billions of dollars into Australia in an effort to expand its iron ore and coal facilities, says a report from AFP: Mining giant BHP Billiton said Friday it would pour billions of dollars into expanding its coal and iron ore operations in Australia, key commodities that are driving the boom in Asian economies.

Ausenco wins $15 million Sierra Leone iron ore operations contract

Ausenco has been awarded a $15 million operations and maintenance service contract for the Tonkolili iron ore project in Sierra Leone. The Optimise phase contract involves the provision of operations and maintenance services to two onsite mobile crushing and screening modules for phase 1A of the Iron Ore Project. The contract commences immediately and runs until July 2012, providing an additional boost to Program Management’s growing recurring revenue base.

Doubling in profit sees ENRC positive for 2011

Kazakh mining group ENRC (ENRC.L) said underlying profit more than doubled, on record production and demand recovery for its products, and that the global economic outlook is still improving. Underlying EBITDA jumped 118 percent to $3.19 billion, in line with the consensus, as revenue rose 72 percent to $6.60 billion.

Japan reconstruction good for copper, iron ore – Friedland

Copper and iron ore prices should remain high in the near future because of additional demand for reconstruction in Japan after a devastating earthquake and tsunami, Ivanhoe Mines Ltd Chief Executive Robert Friedland said. The earthquake in northeastern Japan destroyed thousands of homes, levelled buildings and bridges and caused damage estimated at up to $308 billion, according to the Nikkei newspaper.

BC Iron to challenge withdrawal of Hong Kong takeover bid

The W. Australian junior has applied to Australia's Takeovers Panel to challenge the validity of Regent Pacific's decision to terminate a takeover bid for the company.

Nippon Steel/Sumitomo draft merger plan submitted

Nippon Steel & Sumitomo Metal Industries Ltd submit draft merger proposal Tokyo (Reuters) - Nippon Steel Corp, the world's fourth-biggest steelmaker, and Sumitomo Metal Industries Ltd submitted a draft proposal for their planned merger to Japan's

Mbalam iron ore project more than doubles indicated resources – Sundance

Australian mining firm Sundance Resources said on Thursday recent finds at its Mbalam iron ore project in Cameroon had more than doubled the amount of indicated resources in the area.

Vale, Copper Mountain Mining say they are fine despite Japan quake

Two mining companies announced Thursday that their respective dealings with Japanese smelters and steel manufacturers have not been impacted by the devastating Japanese earthquake and tsunami at this time.

Rio warns on metals prices in the short to medium term

Global miner Rio Tinto warned that metals demand could fall in the near term and prices could be volatile in the medium term due to economic imbalances, but the long term growth outlook remained strong.

No plans for force majeure – Sumitomo

Sumitomo Metal Industries Ltd Japan's third-biggest steelmaker, said it had no plan to declare force majeure on input deliveries. The company has suspended operations of the two giant blast furnaces at its mainstay Kashima plant in Ibaraki prefecture after the quake and tsunami.