Minerals Council of Australia’s pre-Budget submission warns that every year Budget repair is delayed puts Australia closer to the risk of an economic shock.
Iron Ore Mining News
Australia expects iron ore prices to average $51.50 a tonne this year because of rising global supply and moderating demand from top importer China.
Aussie miners paid an effective tax rate of 51 per cent in 2015-16 in company tax and royalties – the second-highest tax ratio recorded since the survey began nine years ago.
Coal and iron ore dominated mining takeovers in 2017, Thomson Reuters data shows, with buyers favoring the heavily polluting devil they know over the uncertainties of a battery-powered future.
The mining cycle turned two years ago – gains for the sector's largest companies have far outpaced stocks like Apple, Amazon, Google and Facebook since.
Investments grew by 54.8% compared to the same month of 2016.
Cold weather is expected to hit regions across China in the coming week, bringing snow and rain that may cause disruptions at construction sites, one of the biggest consumers of steel.
Vale and BHP Billiton in talks over future of their Samarco iron-ore joint venture, including the possibility of the Brazilian miner taking full ownership.
The company, which is controlled by businessman Igor Zyuzin and came close to bankruptcy last year, circulated the final draft of a restructuring proposal among its creditors.
In about four years, Tata may need 13.6 million tonnes of iron ore annually.
Beijing also imported no iron ore, coal or lead from North Korea in November.
Africa Finance Corporation has already expanded its debt or equity funding for resources projects from oil into mines, including bauxite scheme in Guinea.
BHP has agreed to fund a total of up to $181 m in financial support for the Renova Foundation and Samarco Mineração S.A. (Samarco) until 30 June 2018.
Copper and bitcoin.
"Now is the era of the Vale dividends. Vale will become a big payer of dividends if everything goes well," CEO Fabio Schvartsman said on Friday.
The most active rebar on the Shanghai Futures Exchange climbed 2.6 percent a tonne by the close, posting its biggest daily gain in more than two months.
The decision is final and without appeal.
With some vessels waiting to load coal and iron ore outside Australian ports for over a month, key charter rates jumped to highest in more than three years.
More than half the 2017 combined market cap gains for the world's largest listed miners accrued to just five firms as gold producers drop out of top 10.
China's aggressive campaign to clean its skies by clamping down on polluting steel mills has fuelled a need for high-grade iron ore.
Iron ore futures in China rose for a second session on Tuesday, supported by demand from steel producers for high-grade raw material to boost productivity.
Domestic iron ore mines are also humming.
Iron ore price jumps 5.2%, coking coal rises to levels last seen during cyclone Debbie as Chinese mills restock.
Panel of investment banks and research houses forecast declines in copper, zinc, lead and palladium prices in 2018.
With a $10 million investment, the Kacharsky mine is being transformed into a smart mine.