Iron ore price up despite Chinese steel curbs

It now expects to produce 315-320 million tonnes this year, compared with previous guidance of 315-335 million tonnes.

CITIC said that commodity prices could be pressured by the pandemic situation in the short term but would be supported by easing property policy in China in the long run.

Vale is starting to extract sand from material left over from iron ore processing to supply civil construction projects in Brazil.

Guinea’s Interim President Col. Mamadi Doumbouya appointed Mohamed Lamine Sy Savane as secretary-general of the Ministry of Mines and Geology.

Both Vale and German safety auditing firm TUEV SUED were charged with several crimes against animal life, flora, water resources, and other counts of pollution.

The Baltic Dry Index suggests that the metal price will consistently trend downwards in the coming months.

Some Chinese banks had been told by financial regulators to issue more loans to property firms for project development.

Management of the miner plan to seek board approval for guidance of between 330 million and 350 million tonnes for 2022.

The plans for the project, which has a capacity of 14 million tonnes per year and a lifespan of 29 years, have been revised to reduce its environmental impact.