Iron Ore Mining News

Fortescue Metals half-year profit plunges 44%

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.

BHP rebuffs Elliott as first-half profit hits three-year high

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.

Mining M&A jumps to 4-year high – expect more in 2018

New report says "deals in lithium, copper and cobalt are expected to feature high on the agenda of management teams across the industry."

Moody's bullish on base metals, US steel

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. 

Mining sector unloved as investors find it hard to trust

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.

Vale’s iron ore output hit record high in 2017

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.

Copper, iron ore price jump sparks rally in mining stocks

Top listed copper producer Freeport jumped 7.4% and with Vale – up 6% – was among the NYSE's top 10 most actively traded stocks.

BHP takes $1.8 billion hit from US tax reform

Charge is due to due to cuts in the US Federal corporate income tax rate, the world’s biggest mining company said.

Andes Iron and Chilean ME enter conciliation process over $2.5-billion project

Andes Iron appealed an August 2017 decision that forbade its copper and iron ore project from going forward.

Kumba Iron Ore reverses Sishen mine-linked impairment charge

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.

Adani's giant Australian coal mine takes hit as rail plan axed

A funding proposal for a rail line that could carry its coal to the coast for export has been canned.

Copper steadies, iron ore price climbs on blockbuster Chinese imports

Chinese traders chase copper concentrate and iron ore cargoes lifting January import volumes 25% and 19% over already record-breaking 2017.

Mining boom delivers record resource export revenues for Australia

Trade data from AUS Bureau of Statistics has confirmed importance of the mining industry to Australian economy and continuing benefits of the mining boom.

Vedanta hit by iron ore mining halt in Goa

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.

Sibanye-Stillwater $108 million-move on DRDGold OK'd

South African competition authorities have approved the exchange of selected Sibanye-Stillwater's assets for a 38% stake in DRDGOLD Ltd.

Rio Tinto pays biggest divvy in history as profit hits three-year high

Mining giant posts 90% increase in profit amid what CEO Jean-Sébastien Jacques calls “resilient” commodity prices.

Quebec Iron Ore signs a long-term strategic services partnership agreement with Metso

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 takes down South Africa sale sign and may even buy

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.

Rio investors asked to push miner to leave Minerals Council of Australia

Australasian Centre for Corporate Responsibility says it needs 100 shareholders to co-file resolution at Rio’s upcoming annual general meeting.

Commodity boom has a dark side as cost creep erodes windfall

Mining and metal companies are rediscovering the downside of rallying prices: higher costs.

Sibanye-Stillwater trapped miners brought to surface safely

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.

Goldman all but says the mining supercycle is back

“The environment for investing in commodities is the best since 2004-2008” – Goldman Sachs

Brazilian prosecutors say Anglo’s sale of Amapa iron ore shady

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.

More than 900 Sibanye miners trapped underground, not in danger

Originally there were more than 1,000 miners stuck underground, but sixty-four were rescued overnight.

Zimbabwe to take over steelmaker's $500 million debt

Zimbabwe plans to take on about $500 million of debt owed by state-owned steelmaker Zimbabwe Iron and Steel Company to allow company revival.