Iron Ore Mining News

Chinese investors plan $10 bn metallurgical complex in South Africa

South Africa's President Cyril Ramaphosa on investment drive.

Kumba brings in targeted dividend policy, flags SA rail issues

The iron-ore mining company is introducing a targeted dividend ratio policy of 50 to 75% of headline earnings.

Canada scaring mining investors with long, unclear permit processes

Study released Tuesday by the Fraser Institute, British Columbia, Ontario and Quebec are the three main provinces where exploration permit processes have grown longer and less transparent over the past 10 years.

BHP to fight class action over Samarco dam failure

Law firm leading the action says it has more than 3,000 investors signed up to pursue the miner for losses.

Debt financing doubles

"Not a typical financing vehicle for non-revenue generating exploration companies."

Tariffs removal not needed for E.U., U.S. talks -European Council representative

Contradictory opinions emerging at the G20 Summit.

Cleveland-Cliffs EPS jumps 171% in 2Q

U.S. iron ore pellet sales volume expectation to increase to 21 million long tons.

Miners wrote off almost one-third of investments over last decade

From the $939bn invested in major projects between 2008 and 2017, the world’s top 40 mining companies by market cap. wrote-off $273bn or 29% of the initial capital outlay.

Guinea's mining minister says there will be Simandou deal, talks go on

Guinea is in constant talks with Rio Tinto and Chinalco to finalise a deal on the Simandou iron ore project, its mining minister said on Tuesday, adding he was confident an agreement would be reached. […]

Iron ore beats back bears as trade fight batters commodities

The commodity’s resilience in recent weeks even as trade tensions flared is a boon for global miners including Rio Tinto Group, BHP Billiton Ltd. and Vale SA, all of which reported bumper production figures this week.

BHP posts record annual iron ore output, beats Q4 forecasts

Shares in the miner jumped more than 3% after both quarterly and full-year production rose 3% on improved productivity.

ArcelorMittal Temirtau to suspend hot-rolled steel coil exports to Iran – adviser

ArcelorMittal Temirtau, will suspend the export of hot-rolled steel coils to Iran due to the re-imposition of U.S. sanctions

China's top steel city extends pollution curbs until July 21

Tangshan, China's top steelmaking city, has extended recent emergency pollution control measures until July 21 because of a possible major smog alert.

Rio Tinto posts jump in iron ore output, flags stronger 2018

Rio said it expected iron ore shipments for the year to be at the upper end of its range of 330 million to 340 million tonnes, thanks to productivity improvements and fewer weather-related disruptions compared to Q2 2017.

Vale’s iron ore output hit fresh record high despite trucker strike

Iron ore output hit 96.755-million tonnes in the three months to June 30, while pellet output reached 12.838-million tonnes, despite a nationwide truck drivers strike that paralyzed the country in May.

Top-grade iron ore may spike to $100

High-grade iron ore may spike to $100 a metric ton as China intensifies a clampdown on pollution by restraining industrial activity.

Rio Tinto’s ‘world’s largest robot’ delivers first iron ore load

The autonomous train, consisting of three locomotives and carrying around 28,000 tonnes of iron ore, travelled from Tom Price mine to the port of Cape Lambert

BHP secures iron mining rights in Australia’s Pilbara for another century

Western Australia's Environmental Protection Authority has green-lighted a 50 to 100-year blueprint for the miner's operations in the Pilbara.

South Africa mines minister delays finalisation of draft mining charter

Uncertainty around the charter has deterred investment into a sector that accounts for 8 percent of gross domestic product in the world's top platinum producer.

Thyssenkrupp CEO asks to step down, board to meet on Friday

After two years of at times fraught talks, the two steel firms last Saturday signed an agreement to create Europe's second-largest steelmaker.

Iron ore slides to seven-month low as trade war fears mount

Iron ore’s starting to buckle after a series of warnings that prices are set to drop amid rising global supply, and as investors fret about the potential impact of escalating trade tensions between the U.S. and China.

Steel making raw materials hit multi-week lows in China on trade woes

Prices of steelmaking raw materials dropped to multi-week lows on Thursday as a festering trade row between China and the United States kept risk appetite low.

S. Africa seeks re-opening of shuttered mines to boost economy

Mineral Resources Minister Gwede Mantashe believes mines on care and maintenance are bad for the economy.

Nigeria to offer 12.7 bln naira mining contract to eight firms

Nigeria will offer a 12.7 billion naira ($41.6 million) mining contract to eight companies in exploration and consultancy, its junior mining minister said on Wednesday.

Nautilus Minerals tanks on shipbuilding contract cancellation

Fresh setback for the company’s Solwara 1 project, expected to be the world’s first seabed gold, copper, silver mine.