Fortescue Metals was hit by weak prices for its lower quality iron ore, and said it remains focused on cutting costs, including lining up cheaper debt.
Iron Ore Mining News
The New-York based fund argues an overhaul could add more than $22 billion in value for shareholders and wants BHP to conduct an independent study.
New report says "deals in lithium, copper and cobalt are expected to feature high on the agenda of management teams across the industry."
Base metals should continue to do well in 2018 along with the US steel industry, though American coal will continue to lose ground to natural gas.
Data shows that two years after the worst of the raw materials slump is over, investors are still not ready to pour in fresh funds despite a price rally.
Output of the steelmaking material reached 366.5 million tonnes last year, boosted by record high productionat Vale's northern system, which composed of its Carajás, Serra Leste and the massive S11D mine.
Top listed copper producer Freeport jumped 7.4% and with Vale – up 6% – was among the NYSE's top 10 most actively traded stocks.
Charge is due to due to cuts in the US Federal corporate income tax rate, the world’s biggest mining company said.
Andes Iron appealed an August 2017 decision that forbade its copper and iron ore project from going forward.
The unit of Anglo American said reversal, net of tax and non-controlling interest, was 2.6 billion rand and would be included in its basic earnings.
A funding proposal for a rail line that could carry its coal to the coast for export has been canned.
Chinese traders chase copper concentrate and iron ore cargoes lifting January import volumes 25% and 19% over already record-breaking 2017.
Trade data from AUS Bureau of Statistics has confirmed importance of the mining industry to Australian economy and continuing benefits of the mining boom.
Company's shares fell as much as 5.5% on the news that the Indian Supreme Court had cancelled all the 88 existing iron ore mining licences in the Indian coastal state of Goa.
South African competition authorities have approved the exchange of selected Sibanye-Stillwater's assets for a 38% stake in DRDGOLD Ltd.
Mining giant posts 90% increase in profit amid what CEO Jean-Sébastien Jacques calls “resilient” commodity prices.
This agreement will provide QIO with maximum availability of equipment to meet production targets for the Bloom Lake Iron Mine located near Fermont, Quebec.
Anglo raised the possibility it could start buying assets in SA, the latest sign of how much has changed in two years, when the miner was focused on selling.
Australasian Centre for Corporate Responsibility says it needs 100 shareholders to co-file resolution at Rio’s upcoming annual general meeting.
Mining and metal companies are rediscovering the downside of rallying prices: higher costs.
The National Union of Metalworkers of South Africa (Numsa) is demanding that Beatrix gold mine remains closed pending a probe and has asked the South African government to investigate why the operation apparently didn’t have a backup generator.
“The environment for investing in commodities is the best since 2004-2008” – Goldman Sachs
They also claim miner offloaded the asset to avoid paying for environmental damage caused by an accident at its floating dock, which killed six people and dragged vehicles, equipment and large amounts of iron ore into the Amazon River.
Originally there were more than 1,000 miners stuck underground, but sixty-four were rescued overnight.
Zimbabwe plans to take on about $500 million of debt owed by state-owned steelmaker Zimbabwe Iron and Steel Company to allow company revival.