Iron Ore Mining News

Brazil's Vale shareholders near deal to pay Eletron $692m

Two major shareholders of Brazilian mining company Vale SA are likely to reach an agreement on Wednesday to pay 2.82 billion reais ($692 million) to Eletron to settle a dispute over Vale shares.

Capital raising drops

Down 18% in H1.

China Baowu Steel Group denies report about takeover of Magang – media

This deal would help entrench China's position as a serious competitor in global steel markets.

Mining tech firm Outotec to pull out of Iran

Finnish mining technology company Outotec will pull out of Iran due to the new U.S. sanctions.

U.S. sets Nov. 12 deadline for investors to divest holdings of Rusal, EN+

The U.S. Treasury in April imposed sanctions against billionaire Oleg Deripaska and eight companies in which he is a large shareholder, including aluminum exporter Rusal, in response to what it termed "malign activities" by Russia.

Mining industry’s adoption of blockchain not a question of if, but when — report

Blockchain technology and the smart contracts it enables are the next innovations the mining industry needs to adopt in order to improve efficiencies and increase market transparency, a paper published by global law firm White & Case says.

Vale eyes expansion of Brazil iron ore mine to feed Chinese demand

China, the world's biggest consumer of the steelmaking ingredient, has ramped up buying of higher-quality, less polluting grades of iron ore as it battles to clear its notoriously smoggy skies.

Rio Tinto’s exit from coal pays off, to return $3.2B from sales proceeds to shareholders

The fresh round of returns follows Rio’s promise in August to give shareholders up to $7 billion through dividends and share buybacks.

China's subway splurge could help its steel sector get back on track

Subway expansion plans require 80 million tonnes of steel, a need which arises as Beijing looks to boost economy amid trade war with U.S.

Poland's JSW seeks ministry approval to buy Prairie Mining assets – CEO

Poland's state-run JSW awaits approval from the Energy Ministry in its bid to acquire the mining assets of Australia's Prairie Mining

Top miner sees US – China trade spat limiting global growth

Rising U.S - China trade tensions threaten to curb consumer purchasing power, crimp productivity growth and limit global economic expansion.

Most profitable mining companies in 2017

Polyus.

How Anglo quietly built a commodity trader in Glencore's shadow

In just five years, Anglo assembled marketing operations that now sell more metals than the company produces.

Energy trader Mercuria to grow iron ore business with U.S. mine stake

Mercuria will spearhead a $650 million investment package in the miner in exchange for the stake under a memorandum of understanding.

South Africa's iron ore railway to be shut down for annual maintenance

The railway line stretches up to 861 km (534 miles) from iron ore mines at Sishen in the Northern Cape to the Saldanha port in the Western Cape.

Vale truck fleet at Brazil mine going fully autonomous in 2019

Using seven Caterpillar 793F CMD autonomous trucks, the miner was able to transport 26% more ore at Brucutu mine in just a month.

Australia's Port Hedland iron ore shipments to China rise nearly 10 pct in Aug

Iron ore shipments to China from the world's biggest iron ore port totalled 35.5 million tonnes in August, up from July's 32.4 million tonnes.

Australia’s mining sector pushing for revamped Trans-Pacific Partnership: Interview

MINING.com interviewed the Minerals Council of Australia CEO.

Chinese aluminum gushes onto world markets on Rusal supply fears

Aluminum prices jumped in April after the U.S. announced sanctions on Rusal, the top supplier outside of China.

Mining exploration spending in Australia jumps to 5-year high

Drilling at new projects up 57% as spending on gold exploration reaches 21-year high.

Poland's JSW seeks tighter grip on coking coal with possible Prairie bid -sources

State-run JSW and Australia's Prairie, which is developing mines in Poland, have been in cooperation talks for much of this year but JSW wants control.

South African miner Assore reports profit fall on stronger rand

Assore reported a 1.9 percent fall in annual profit on Thursday as a strong rand currency offset favourable commodity prices and higher sales.

Dalian coking coal extends gains as smog crackdown tightens supplies

Chinese coking coal futures rose their most in a month on Thursday, buoyed by firm physical prices.

ArcelorMittal reaches Ilva deal with unions, opening way for takeover

ArcelorMittal signed a preliminary agreement last year to buy Ilva, which has the largest steel-producing capacity in Europe.

China's iron ore futures push hits speed bump as prices stagnate

Contracts held by investors in China's iron ore futures have fallen to the lowest in more than three years.