Speaking at an event in São Paulo, Schvartsman also said the recent rise in nickel prices should generate an additional $750 million in cash flow.
Iron Ore Mining News
Consulting firm Deloitte has published what it says will be the top-10 global trends in the mining industry this year.
The UK-based research and consultancy group has dropped its price forecast to $63 a tonne or 12% below last year's average of $71 per tonne.
The miner's autonomous haulage system (AHS) fleet has already moved over one billion tonnes of ore and waste material within the Pilbara region of Western Australia.
The iron ore producer said shipments fell to 40.5m tonnes in the three months ended Dec. 31 versus 42.2m tonnes in the same period a year ago.
"We have not seen this kind of growth since before the global financial crisis."
Anglo American's Minas Rio iron ore mine in Minas Gerais state has nameplate capacity of 26.5m tonnes per year.
The company beat expectations on Thursday with a 5% increase in 2017 production.
The world's largest mining and construction equipment maker beat market expectations for fourth quarter earnings and said its sales growth momentum is expected to continue in 2018.
Receiving the necessary licences would allow the company to continue operating in the state of Minas Gerais, where the iron ore mine is located, for at least another 15 years.
Indian commodities billionaire said the rally in Anglo American Plc vindicated his personal bet in the mining group.
If for some reason, you still think that the commodity markets are predictable, today’s chart provides a nice piece of humble pie.
An Italian professor at the Politecnico di Milano says that there could be an iron throne right below the apex of the Pyramid of Cheops, located in Giza.
BHP's iron ore output climbed to 72 million tonnes for the three months ended Dec. 31 versus 70 million tonnes a year ago.
During a meeting with investors and analysts in Sao Paulo, Vale’s investor relations director, André Figueiredo, said it seemed “natural” for his company to become the sole owner of the project.
Federal prosecutors announced ruling in a statement that said electricity transmission lines and a bauxite pipeline damaged soil and silted up rivers.
On Tuesday Global miner Rio Tinto reported a 1 percent rise in iron ore shipments for 2017 to 330.1 million tonnes, meeting its guidance.
Hunger for high-quality iron ore from Australia and Brazil pushed Chinese imports of the steelmaking ingredient to a record high in 2017.
China’s global resource grab, and the ramifications for the rest of the world, are on my radar screen. Are they on yours? If not, maybe they should be.
Data obtained from the Arkyd-6 will be use in the development of the Arkyd-301, Planetary Resources next spacecraft platform and the beginning of its space resource exploration program.
The terminal expects to clear all remaining vessels from its harbour as safety measure after tropical cyclone intensified off nation's western coast.
“A lot of investors were really badly burned, ourselves included.”
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.
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.