July 29, 2012

Mittal: Investing in mining, but not India or China

I'm not locating capital to India or China as I don't see things progressing there. We can't remain stuck, so we move on. Now our priority is to reduce debt,…

July 28, 2012

The Awa, S11D, Colin Firth and flesh-eating bats: Welcome to global mining’s environment acid test

World number one iron ore producer Vale over the weekend "played down fears" that the planned $20 billion expansion of its Carajas mine would harm the local Awá people described…

July 28, 2012

Vale says iron ore reaching a bottom, will improve within ‘2-3 weeks’

"I believe the recovery will happen soon," José Carlos Martins, the Brazilian miner's director of iron ore and strategy, said during a conference call discussing the firm's second quarter results,…

July 27, 2012

Iron ore’s $120-price floor theory unravels

Below $120 a tonne most Chinese producers become unprofitable, but a sustained period below this level may indicate a fundamental shift in the industry.

July 27, 2012

Not convinced Chinese trade is a disaster? Take a look at these shipping numbers

Examples: Worldwide orders for dry-bulk vessels dropped 49% to 9.8 million deadweight  tons in the first half of 2012. The monthly index of new-ship prices in China is now at…

July 27, 2012

Anglo American disappoints: profits down 40% and Minas Rio delayed another year

The global miner joined the ‘disappointing results club’ this morning as the London-listed mining group reported that its first-half operating profit dropped almost 40%.

July 27, 2012

Australia imperils investment appeal as miners attack new tax laws

Foreign investors have raised concerns over uncertainty surrounding Australia's mining and carbon tax regimes, with mining companies attacking a government plan to obtain an additional AUD$1.9 billion in taxes via…

July 26, 2012

Ex convicts to fill out job vacancies at Billiton’s Olympic Dam

While the Australian government has started allowing miners to hire foreign workers to ease a labour shortage in the country, some companies such as BHP Billiton and Rio Tinto have…

July 26, 2012

Vale the newest casualty of China’s slowdown

Brazilian mining giant, Vale SA, became the latest casualty of China's economic slowdown on Wednesday as its second-quarter profit fell almost 60% driven mainly by a weaker demand for iron…

July 25, 2012

Shanghai rebar meltdown: The last time Chinese steel cost this much iron ore was trading at $70

Chinese rebar prices are now 8% lower than October 2011 lows, while iron ore prices remain 5% higher.