Iron Ore Mining News

Shanghai rebar dips from 6-yr high; tradespat escalates

Rebar open interest falls to lowest in 4 months.

Wages, activity pick up in Australia's iron ore heartland

New spending by some of the world's largest iron ore miners is tightening the market for jobs and support services in Australia's biggest mining region.

China's Shandong province cuts steel and coal capacity in environment plan

Shandong's Environmental Protection Bureau said it would cut pig iron production capacity by 600,000 tonnes and crude steel by 3.55 million tonnes by the end of this year.

Brazil mining exports to rise 2.5 pct in 2018 -Ibram

By value, mineral exports are expected to increase to $30 billion from $28.37 billion last year.

US Steel tumbles as investors seek more from tariff windfall

U.S. Steel Corp. fell the most among peers as a mixed bag of quarterly results left investors wondering if they would see any real benefit from trade policies that have pushed up U.S. prices of the metal.

Rio Tinto down despite $7.2bn cash return to investors

Company said first-half profit grew 12% to $4.42 billion, below the $4.53 billion forecast by analysts.

BHP, Rio deals show lack of options beyond shareholder returns: Russell

BHP Billiton last week agreed to sell its U.S. shale oil and gas assets for $10.5 billion, while Rio Tinto appears on track to exit its troubled investment in the giant Grasberg copper and gold mine in Indonesia for about $3.5 billion.

Caterpillar says tariffs will wipe out up to $200M

Demand for mining as well as oil and gas equipment is so strong that the company said it was taking orders for delivery well into 2019.

Environmentalists worried about prospecting in New Zealand’s South Island

The government lifted a moratorium for prospecting permits on 7,828 square kilometres on the northern part of the South Island.

Will BHP's CEO follow Top Miner's shale unit out of the door?

BHP Billiton Ltd.’s $10.8 billion of deals to exit its troubled U.S. shale unit will allow Chief Executive Officer Andrew Mackenzie to shower investors with returns. It may also be a chance for him to bow out on top.

Chinese investors plan $10 bn metallurgical complex in South Africa

South Africa's President Cyril Ramaphosa on investment drive.

Kumba brings in targeted dividend policy, flags SA rail issues

The iron-ore mining company is introducing a targeted dividend ratio policy of 50 to 75% of headline earnings.

Canada scaring mining investors with long, unclear permit processes

Study released Tuesday by the Fraser Institute, British Columbia, Ontario and Quebec are the three main provinces where exploration permit processes have grown longer and less transparent over the past 10 years.

BHP to fight class action over Samarco dam failure

Law firm leading the action says it has more than 3,000 investors signed up to pursue the miner for losses.

Debt financing doubles

"Not a typical financing vehicle for non-revenue generating exploration companies."

Tariffs removal not needed for E.U., U.S. talks -European Council representative

Contradictory opinions emerging at the G20 Summit.

Cleveland-Cliffs EPS jumps 171% in 2Q

U.S. iron ore pellet sales volume expectation to increase to 21 million long tons.

Miners wrote off almost one-third of investments over last decade

From the $939bn invested in major projects between 2008 and 2017, the world’s top 40 mining companies by market cap. wrote-off $273bn or 29% of the initial capital outlay.

Guinea's mining minister says there will be Simandou deal, talks go on

Guinea is in constant talks with Rio Tinto and Chinalco to finalise a deal on the Simandou iron ore project, its mining minister said on Tuesday, adding he was confident an agreement would be reached. […]

Iron ore beats back bears as trade fight batters commodities

The commodity’s resilience in recent weeks even as trade tensions flared is a boon for global miners including Rio Tinto Group, BHP Billiton Ltd. and Vale SA, all of which reported bumper production figures this week.

BHP posts record annual iron ore output, beats Q4 forecasts

Shares in the miner jumped more than 3% after both quarterly and full-year production rose 3% on improved productivity.

ArcelorMittal Temirtau to suspend hot-rolled steel coil exports to Iran – adviser

ArcelorMittal Temirtau, will suspend the export of hot-rolled steel coils to Iran due to the re-imposition of U.S. sanctions

China's top steel city extends pollution curbs until July 21

Tangshan, China's top steelmaking city, has extended recent emergency pollution control measures until July 21 because of a possible major smog alert.

Rio Tinto posts jump in iron ore output, flags stronger 2018

Rio said it expected iron ore shipments for the year to be at the upper end of its range of 330 million to 340 million tonnes, thanks to productivity improvements and fewer weather-related disruptions compared to Q2 2017.

Vale’s iron ore output hit fresh record high despite trucker strike

Iron ore output hit 96.755-million tonnes in the three months to June 30, while pellet output reached 12.838-million tonnes, despite a nationwide truck drivers strike that paralyzed the country in May.