Iron Ore Mining News

China Minmetals signs 20m tonnes iron ore purchase agreement with Brazil's Vale

The state-owned metals and mineral trading firm also signed a 2,400 tonne nickel briquette purchase agreement with Japan's Sumitomo Corp.

Australia's Port Hedland iron ore shipments to China fall 12% in October

The October figure was also down 7 percent from the same month a year earlier, according to port figures.

China's industrial heartland Shandong to overhaul energy intensive industries

As part of a new plan to overhaul energy intensive industries, Shandong province is planning to consolidate dozens of small refineries and build mega-petrochemical complexes.

European automakers BMW, Volvo to trial new LME steel contracts

Industry sources say automaker interest bodes well for the contracts, but new contracts usually take years to gain traction and a lack of interest from steelmakers could slow the process.

BHP suspends Western Australia rail operations after runaway train incident

BHP suspended all its iron ore rail operations on Monday after a train ran away at high speed for nearly 100 kilometres before being forcibly derailed.

Vale and Emirates Steel sign major deal

Emirates Steel requires inputs of around 6 million tonnes of iron ore pellets per year.

Nippon Steel first-half profit falls 4% on rising costs, slower output

Nippon Steel plans to step up crude steel production in the October-March period, predicting an output of 21.6 million tonnes for the six months, above 20.58 million tonnes a year earlier.

Russian steelmaker MMK cautious after strong quarter, delays Turkey project

While MMK said it sees stable demand for steel products in its markets, it warns that global steel prices could put pressure on results.

China demand for Vale ore to keep price above $90/tonne in 2019 -CFO

What will define Chinese demand for iron ore is continued urbanization, infrastructure investments, auto production.

BHP to return $10.4 billion in buyback, special dividend bonanza

BHP had promised to return all of the net proceeds from the $10.8 billion sale of its U.S. shale business to shareholders when the deal was announced in July.

Capital-starved mining sector creates 'buyer's market' for investors

Smaller mines and developers who previously found capital through retail investors in public markets are increasingly turning to specialist investors.

BHP announces $5.2B share buyback, keeps promise to return US Onshore asset sale proceeds

The world's biggest miner promised in July to return the $10.5 billion in sale proceeds to shareholders.

Japan's JFE, Kobe Steel cut profit outlook on glitches, higher costs

JFE cuts crude steel output plan due to glitches, heavy rains.

China machine 'working very well' amid stimulus, Rio says

China is on track for an annual record and is supporting consumption of raw materials.

BHP cuts China, US growth forecasts on trade tensions

The world’s largest miner has cut its economic growth forecasts for the world's two biggest economies as the superpowers engage in a "lose-lose" trade spat.

China mulls stimulus as car sales drop in world's top market 

To counteract the slowdown, China’s top economic planning body is proposing to halve the tax on car purchases to 5%

Rio Tinto sees new-style partnerships as the future

If a community or government wants a bigger share of the pie, they may need to be willing to take on more of the risk.

Rio says Chinalco pact for $1B Simandou stake has lapsed

Rio and Chinalco have decided to explore other options to realize value from the project.

Japan steel industry group head worried about signs of slowing China economy

The calm before the storm, potentially.

China's Jiangsu Shagang to stop 9 blast furnaces in Nov

The operation halt at two steel mills is expected to reduce pig iron output of 290,000 tonnes and steel products output of about 160,000 tonnes.

Spend don't splurge, investors tell miners as M&A, capex surges

Capital expenditure among the 10 largest metals and mining companies is forecast to advance to about $35 billion this year, the first annual rise since 2013.

Vale expects jump in base metal performance in 2020

Brazil's Vale, the world's largest iron ore producer, is seeking out small high-return acquisitions that are related to the miner's current assets.

Surging US steel helps iron ore price to 9-month high

Global steel production stays strong in September with Chinese furnaces blasting at near record pace and US output surging 9%.

Amazon's mining treasure at stake as Bolsonaro leads Brazil vote

Jair Bolsonaro is on the cusp of winning Brazil’s presidency, leading the latest polls by double digits, and the mining community is salivating.

Australia's Fortescue Q1 shipments fall 8.6%

The company shipped 40.2 million tonnes in the September quarter, compared with 44 million tonnes a year ago