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.
Vale Mining News
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
Shareholders of Brazil's Vale SA approved a share conversion plan on Tuesday in a move that should boost transparency, give equal votes to all shares and limit government meddling in the world's No. 1 iron ore producer.
China bulls kick iron ore price 6.5% higher.
Global environmentalist Yolanda Kakabadse to Chair IUCN independent scientific panel on Brazil’s Rio Doce watershed
IUCN former President, globally recognised environmentalist Yolanda Kakabadse, will Chair the new IUCN independent scientific and technical advisory panel on the restoration of the Rio Doce watershed in Brazil, following the 2015 collapse of the Fundão tailings dam at the Samarco iron ore mine.
Agreement is part of plan to double investment in the sector to $25bn in eight years.
A second vessel contracted to haul iron ore for Brazilian miner Vale SA was delayed for repairs following the loss of a similar ship that mysteriously sank en route to China leaving 22 people presumed dead.
Steelmaking material dropped to $57.02 a tonne, marking a fresh seven-month low, as large stockpiles continue to weigh on the market.
Iron ore's transformation from a relic of the industrial age to the driving force behind a commodity supercycle that reshaped the global economy.
Ore with 62% content in Qingdao lost $2.33 a tonne to close at $57.91, data from the Metal Bulletin shows, hitting a seven-month low and marking the commodity third consecutive weekly fall.
30m tonnes per year operation jointly owned by BHP and Vale shuttered since November 2015 following dam burst.
The company, which could lose the arbitration as a result, will have to pay the amount to former partner Vale.
200 jobs lost.
Move comes barely seven months after Rio Tinto agreed to sell it its stake in Simandou for up to $1.3 billion.