Iron Ore Mining News

China isn't ready for iron ore deficit, Steelhome's Wu says

The founder of Shanghai Steelhome Information Technology Co. said disruptions will amount to 60 million tons of lost supply this year.

Brazil President says Amazon rainforest reserve should be opened to mining

President Jair Bolsonaro said on Friday the country could open a vast reserve in the Amazon rainforest to mining, a move attempted by his predecessor that was quickly rescinded following an international environmental outcry.

Cobalt, uranium and silver prices expected to rally in 2019

But the iron ore price surge won't last says new survey of commodity analysts.

Iron ore price rally could give BHP, Rio Tinto 30% earnings boost

The supply/demand dynamics benefit Australia’s iron ore miners, according to the latest research by the Macquarie Group.

Vale says BSG ordered to pay it $1.25B

The joint venture intended to explore for iron assets at the Simandou prospect, but the concession was revoked in 2014 by Guinea's government.

Rio Tinto says fire damages Pilbara iron ore operation

The company does not say whether this would impact shipping of the mineral.

Squeeze from Brazilian iron ore disasters a boon for $1.5B magnetite pellet project

The Brazilian mine dam collapses and resultant forced shutdown of some of that country’s iron ore mines had caused a major seaborne supply squeeze across all of the commodity’s types.

Vale opens talks on compensation for dam disaster victims

Vale SA has opened negotiations with prosecutors and families of victims of the deadly January dam disaster.

As Goldman backs off, Citi says chase iron ore rally to $100

Iron ore’s poised to hit $100 a ton, according to Citigroup, which highlighted “very, very low” seaborne cargoes just as data from China may show a pick-up in demand.

A million tonnes of copper is on the way: it may not be enough

Giant mines currently under construction will churn out an additional one million tonnes of copper through 2023, but that won’t be enough.

Vale minority shareholders push for board, voting changes

A group of minority shareholders in Vale SA has proposed an alternative board member and to change the board election to a cumulative voting system.

$6 billion private capital ready to invest in mining

Fundraising by unlisted funds for investment in natural resource reached a record $93 billion last year.

Investors with $10 trillion in assets pressure miners over tailings safety

The move is aimed at providing a tool for institutional investors to assess the risk from their holdings in mining companies.

World's largest iron ore port expects higher exports post Vale

With a market facing a global deficit, the world’s biggest iron ore export port is flagging a timely boost in shipments as Fortescue and rivals bring on new mines in Australia’s Pilbara region.

Iron ore thunders higher as mine dams closed, exports collapse

Futures topped $90 a tonne on Wednesday amid increasing concern the crisis at Brazil’s Vale SA will be drawn out as regulators ordered dozens of dams to be shut.

Auditor that signed off on burst Vale dam appoints new Brazil CEO

German auditing firm TÜV SÜD AG has appointed a former Petroleo Brasileiro SA executive to head up its Brazilian subsidiary.

Fortescue OKs $2.6B expansion of Iron Bridge magnetite project

The announcement follows the company's commitment to build the $1.3 billion Eliwana iron ore mine last year.

Iron ore prices shift structurally higher on Vale woes

Iron ore prices in China reached a record high on Tuesday as market participants wrestled two dilemmas, namely the weather-related disruptions from Australia and the safety outages in Brazil.

Cannabis mania mows down Canada’s junior mining sector

There is enough evidence to conclude that risk capital has found a new home, a BDO report shows. The question now is, how and where will junior miners find the capital needed to sustain their businesses?

BHP says iron ore production to fall by 6-8 million tonnes after cyclone

Its 2019 financial year production and unit cost guidance are under review because of the impact on the output.

Commodities' best quarter since 2016 is tough act to follow

Commodities had their best quarter in almost three years, but demand outlook is running into troubling signs in the U.S. and China, the two biggest consumers.

Vale denied stability re-certifications on 17 dams, dikes

The decision comes on the same day a Brazilian court froze an additional 1 billion reais ($255 million) in assets as possible compensation for damages related to a recent evacuation of the area around the company's Vargem Grande dam in Minas Gerais state.

Rio Tinto cuts 2019 iron ore shipment outlook after cyclone

Rio Tinto on Monday cut its 2019 outlook for iron ore shipments from Australia's Pilbara region due to production disruption and damage caused by tropical cyclone Veronica, which hit Western Australia last week. The world's […]

Government officials call for output control at Chinese steel mills

Profits are being squeezed by rising raw material prices, largely caused by production disruptions at Vale SA after the Brumardinho disaster.

West Africa — an emerging gold exploration investment hotspot

Data shows West Africa has the biggest growth rate in the yellow metal’s resources in the world.