Iron ore production rose 3.3% compared with the same period last year to hit a fresh quarterly record of 95.1 million tonnes.
Vale Mining News
Ongoing concerns that looming steel production cuts in China on environmental grounds will sap steel mill demand continue to weigh on prices.
Australia’s Department of Industry, Innovation and Science sees iron ore prices averaging $50 a tonne next year, and dropping to $49 a tonne in 2019.
Figure represents about a third of the country's iron ore mines currently in operations.
Iron ore miner says it has the ability to expand its production capacity beyond the 55 million tonnes it has targeted.
It would have opened up for mining a vast national reserve in the country’s Amazon, larger than the size of Switzerland.
The commodity has fallen every week so far in September.
The company is also interested in investing in the electricity sector itself or through a joint venture.
Is the industrial metals and steelmaking raw materials rally at en end?
Federal judge Rolando Spanholo said opening the area known as Renca to mining can only be done by an act of Congress under the constitution.
The region, preserved as a national reserve for more than three decades, is thought to be rich in gold, iron ore, copper and other minerals.
Prices for the steelmaking material have increased almost 50% since its 2017 lows.
Plans to extend the life of the Voisey's Bay nickel mine in northern Labrador by moving operations underground – already once delayed – are now on hold.
Experts and mining companies fear some of the modifications that go in effect in November, will result in hefty taxes, higher research costs and decrease interest from foreign investors.
Israeli diamond billionaire Beny Steinmetz, four others, in custody of Israeli police on suspicion of fraud, forgery, obstruction of justice and bribery.
Bigger-than-expected shareholder support in Vale SA's stock conversion plan could lead the world's No. 1 iron ore producer to accelerate the listing of common shares in Brazil's strictest market segment and lure a boarder base of investors.
Brazilian newspaper had claimed BHP was selling its stake in the Samarco iron ore mine to its partner Vale.
Ore with 62% content in Qingdao jumped 7.2% to $73.70 a tonne, according to the Metal Bulletin, the highest price since April 11 and the largest one-day percentage gain since December 1, 2016.
"Suspected corruption in the conduct of business in the Republic of Guinea by the Rio Tinto group, its employees and others associated with it."
Prices have climbed almost 7% since Monday and almost 32% since the recent low of $53.36 a tonne hit on June 13.
From the recent low of $53.36 a tonne hit on June 13, iron ore prices have now surged more than 27%.
Ore with 62% content in Qingdao added $1.86 overnight to close at $65.91, the highest since May 3 and 20% more than those year lows hit mid-June
Combined worth of 50 largest mining companies grow to $768 billion during first half of 2017, but a few big names drop down rankings.
It also said that a Brazilian court had granted it and its partner Vale a four-month extension to negotiate a settlement to a $47 billion claim stemming from the 2015 mine disaster.
Physical markets, not just futures speculation behind the latest rally