Market rumours point at South32 as the most likely buyer, since the miner decided last month to ditch its $200 million acquisition of Peabody Energy’s coal mine in New South Wales.
Iron Ore Mining News
And why the worst may be over already.
The miner faces another shareholder revolt as Australia’s Tribeca has joined calls by US activist investor Elliott Management for an exit from shale to free up capital.
It’s been a bad week for iron ore, with all indices steeply lower on Friday for a second consecutive day.
Whether we’re discussing the ancient merchants that traversed the legendary Silk Road, or the transfer of goods across modern border lines, trade has always been about building close relationships.
In Asia, trading was halted after prices sank 7.3%, which is the maximum a day allowed by Chinese regulators.
The blast took place at a mine located in Iran's northern Golestan province on Wednesday morning.
Industrial and precious metals, coal, oil, as well as natural gas, collectively accounted for just 6.2% of foreign direct investment into the continent last year.
The end of the Labour Day holiday in China saw fresh demand for iron ore and steel, with both commodities rising in tandem today.
Up 10% in two weeks.
Net income totalled $2.5 billion, compared with profit of $525 million in the prior three months and almost $1.8 billion a year earlier.
The miner said decision was unrelated to Elliott Management's call earlier this month to unlock shareholder value by spinning off about $22 billion of BHP's US oil assets.
BMI Research expects prices to continue sliding for at least the next five years on rising supplies from Australia and Brazil and expectations for a surplus.
The giant equipment maker's quarterly profit surged past estimates helped by a recovery in most of its end markets.
Both iron ore and diamond output rose in the first quarter thanks to a continued ramping-up of the company's Minas Rio mine in Brazil and improvements in the gem market.
They're pressing the company not only to accept a proposal by activist investor Elliott Management to spin off its US petroleum business, but to fully demerge all of its oil and gas assets.
Production for the first three months of the year slumped 37% compared with the same period of 2016.
Production of the steelmaking raw material jumped 11% to 86.2 million tonnes in the January-March period, compared to the same quarter a year earlier.
Another 5% iron ore price drop Tuesday slashes $30 billion from top 5 producers' market value in one month.
Another gap down Monday brings one-month drop to 30%.
The latest chapter in the Simandou case.
They have found valuable minerals atop an underwater mountain, which is basically a huge flat-topped mound of some of the scarcest materials on Earth.
Worries about Chinese economy and rising tension surrounding North Korea brings fear trade to mining and industrial metals.
Activist investor Elliott's proposals to break up BHP are riddled with “major flaws” and could end up costing far more to implement than they would save, the company said.
The commodity is now trading below $70 a tonne and has just suffered its largest one-day percentage decline in over a year.