Cliffs restructures Bloom Lake iron ore mine, seeks creditor protection
Chief Executive Lourenco Goncalves said restructuring proceedings have begun in Montreal and sale options will be explored.
Latest Stories
China’s gold imports plummet
Down nearly a third in 2014 as anti-corruption drive curbs conspicuous consumption and investment money flows into Shanghai stock market.
Another day another iron ore price drop
Another slide on Tuesday drops iron ore price 13.4% year to date, but latest forecasts see another double digit dip from current levels.
Lower gas prices weigh on Peabody’s weak results, expected coal demand
The U.S. No.1 coal producer projects a much wider-than-expected loss for the current quarter.
The youngest CEO in mining has his eye on uranium
This young dynamo entered the business straight out of university and is now running Skyharbour Resources (SKY.V). Skyharbour is a uranium junior holding a very prospective land position(over 390,000 hectares) in the prolific Athabasca Basin.
Freeport-McMoRan slashes capital spending, to divest stake in Indonesian unit
The U.S. largest miner by market value and revenue has already slashed its capital budget for the year by $2bn and it is ready to make further cuts.
Commodity prices hit Caterpillar profit — down 25%
CAT keeps slashing costs as it tries to offset issues out of its control, such as the falling price for everything from iron ore to oil.
Congo risking billions with planned tax hike, mining code revision
The central Africa nation may also lose its position as the continent’s top copper producer.
Yukon Zinc temporarily closing Wolverine Mine
Some crew will be assigned to care and maintenance.
