Fears over slowing Chinese growth and impact of trade war with the US removes floor under iron ore price.
Iron Ore Mining News
China's steel prices tumbled more than 5% to a five-month low as persistent worries over weaker demand pushed the sector into a bear market, sparking a selloff in raw materials iron ore and coking coal.
Over its almost 18-year mine life, Santo Domingo is expected to produce an average of 134-million pounds a year of copper, 4.2-million tonnes a year of iron concentrates and 17,000 annual ounces of gold.
Global iron ore production will grow due to mine expansions in Brazil and increasing output from India.
BHP's maintenance work on its Port Hedland facilities, spare rail capacity and 40 ships waiting to be loaded means it will be able to make its production target for June 2018 - July 2019.
Natural disasters and glitches at their ageing facilities have prevented Nippon Steel from producing as much steel as they had planned.
The project is part of an industrial scheme aimed at opening up Saudi's north to development that will boost job creation.
The Hassan Rouhani government is kickstarting a program for the revitalization, activation, and development of the country’s artisanal mines.
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.
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.