Iron
Kloppers warns iron ore export window is closing
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By Matt Chambers
BHP Billiton chief executive Marius Kloppers has a more bearish forecast on iron ore demand than arch-rival Rio Tinto, and warns that the window is closing for new investment in the nation’s most valuable export.
In a presentation to investors in Miami, Mr Kloppers highlighted the growing cost Read more
May 16, 2012 by The Australian · Leave a Comment
China’s near-monopoly brings challenges, opportunities to strategic metals space
Countries dependent on Chinese supply of strategic metals are pursuing strategies to respond to potential shortages of these metals. But while China’s dominance is causing due cause for concern, it also opens up opportunities for juniors developing alternative supplies outside China, writes Liza Mayer.
May 13, 2012 by Resource Intelligence · Leave a Comment
Hancock to sell iron ore on China exchange
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By Andrew Burrell
GINA Rinehart’s $9 billion Roy Hill project is still more than two years away from producing iron ore but the billionaire has already signed up to sell some of the mine’s planned output through China’s first electronic trading platform, which was launched this week.
The platform, run by state-owned China Beijing International Mining Exchange (CBMX), Read more
May 10, 2012 by The Australian · Leave a Comment
Aditya Birla may bid for Northern Iron
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INDIA’S Aditya Birla Group has submitted a non-binding bid to buy Australia’s Northern Iron, the Economic Times reported today, citing two sources with direct knowledge of the matter.
Northern Iron – which has an annual iron-ore production capacity Read more
May 10, 2012 by The Australian · Leave a Comment
Jindal Steel & Power to make significant investment in Apollo Minerals
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By Prasenjit Bhattacharya
INDIA’S Jindal Steel & Power has acquired a 9.25 per cent stake in Australian iron ore miner Apollo Minerals for $1 million.
In a statement late yesterday, Apollo said the acquisition of the stake by JSPL Read more
May 9, 2012 by The Australian · Leave a Comment
Sentiment in iron ore uncertain in April, price up 2pc on March
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By Diana Kinch
SENTIMENT in the global iron ore market remained uncertain in April, even though prices for the steel-making ingredient continued to firm over the first 20 days of the month, price provider The Steel Index said in its monthly bulletin.
Spot reference prices for ore with 62 per cent iron content, delivered to China, Read more
May 8, 2012 by The Australian · Leave a Comment
World Bank shores up Rio’s hold over Simandou venture
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By Barry FitzGerald
THE World Bank’s private sector development financing arm, International Finance Corporation, is planning to invest $US150 million ($147.6m) of equity in Rio Tinto’s Simandou iron ore project in Guinea as the joint venture races towards first production from the potentially world-class project by 2015 at an initial cost of $US13 billion. Read more
May 7, 2012 by The Australian · Leave a Comment
Exxaro Resources Considers Fast-Tracking Congo Iron-Ore
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By Jana Marais
Exxaro Resources Ltd. (EXX), a South African coal company, is studying speeding up an iron-ore project in the Republic of Congo after its 20 percent stake in a mine producing the commodity contributed more than half its earnings last year.
“We’re looking at the geology, the plans, the product, the possible start date, the size,” Chief Executive Officer Sipho Nkosi said in an interview in Pretoria yesterday, referring to plans to deliver a revised production schedule in July. Read more
May 4, 2012 by Bloomberg · Leave a Comment
Grange Says Chinese, Asian Groups Interested in Mine Stake
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By Elisabeth Behrmann
Grange Resources Ltd. (GRR), Australia’s largest iron ore pellet producer, said companies in Asia are interested in buying a stake in its A$2.9 billion ($3 billion) Southdown project, whose cost estimate rose about 12 percent.
“We’re looking at a number of finance options, one of which is selling a stake in the project,” Russell Clark, managing director of the Perth-based company, Read more
May 1, 2012 by Bloomberg · Leave a Comment
Fortescue Seen Luring Anglo-to-Glencore on China Iron
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By Elisabeth Behrmann
With Fortescue Metals Group Ltd. (FMG)’s earnings poised to almost triple, companies looking for a gateway to ship iron ore to China can still acquire the Australian producer at half the valuation it fetched a year ago.
Fortescue, already the world’s fifth-largest iron ore supplier, is adding mines, railways and port capacity to almost triple annual output to 155 million tons by June 2013. Read more
April 30, 2012 by Bloomberg · Leave a Comment
Atlas Iron plans to boost output to feed China growth
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By Sarah-Jane Tasker
ATLAS Iron has outlined its aggressive plans to increase production to capture increasing demand from China, as it remains on track to hit annual guidance.
The Perth-based miner today released its quarterly results, Read more
April 27, 2012 by The Australian · Leave a Comment
Anglo’s Platinum Output Falls 24%, Iron Ore Gains 17%
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By Carli Cooke
Anglo American Plc (AAL), the biggest platinum producer, said output of the metal fell 24 percent in the first quarter from a year earlier after it shut a plant for maintenance, with fewer safety stoppages stemming the drop.
Refined platinum production retreated to 402,800 ounces in the three months through March because of planned annual maintenance at a converting plant in Rustenburg, Read more
April 19, 2012 by Bloomberg · Leave a Comment
FMG stock gains as miner forecasts “catch up” on delayed shipments
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By Robb M. Stewart
FORTESCUE Metals Group, one of the world’s largest iron ore producers, today said that third-quarter shipments of the steelmaking commodity missed its own guidance after two tropical cyclones temporarily shut ports along the coast of Western Australia.
The Perth-based company shipped slightly more than 12 million tonnes in the three months through March, Read more
April 19, 2012 by The Australian · Leave a Comment
BHP 3Q ore production up year-on-year but down on Q2 due to cyclones
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By Robb M. Stewart
BHP Billiton posted mixed production results for its financial third quarter today, with iron ore output up strongly on a year earlier but down on the prior quarter as a result of Australian cyclone activity.
Iron ore production was 14 per cent higher on the year at 37.94 million metric tons Read more
April 18, 2012 by The Australian · Leave a Comment
Rio spends $300m on Wickham town to boost Pilbara ore production
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By Robb M. Stewart
WESTERN Australia approved mining giant Rio Tinto’s plan to invest more than $300 million to expand and renew the town of Wickham as part of efforts to significantly raise iron ore production in the state’s remote Pilbara region.
Wickham will house the workers needed for Rio Tinto to reach its goal of 183 million metric tons in export capacity from Cape Lambert Port in 2015 from around 80 million tons currently, Western Australia Premier Colin Barnett said. Read more
April 17, 2012 by The Australian · Leave a Comment
Hebei to Spend $195 Million on Alderon Stake, Ore Venture
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Hebei Iron & Steel Group, China’s biggest producer, will spend C$194 million ($195 million) to buy a stake in Alderon Iron Ore Corp. (ADV) and invest in a venture with the Canadian company as it seeks raw-material resources.
Hebei will buy 25.8 million shares of Vancouver-based Alderon, or about 19.9 percent, for C$3.42 apiece in a private sale, Read more
April 13, 2012 by Bloomberg · Leave a Comment
China’s Q1 GDP growth likely to slow has no impact on iron ore price
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By Diana Kinch
THE slight slowdown expected in China’s first-quarter economic-growth rate isn’t hitting the iron-ore market, where prices continue to edge up and analysts remain bullish, said Steve Randall, managing director of London price provider The Steel Index. Read more
April 13, 2012 by The Australian · Leave a Comment
Icahn Nears Stake in Falcone’s Ferrous
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Billionaire investor Carl Icahn is nearing agreement to buy a stake in a closely held Brazilian iron ore mining company from Phil Falcone’s Harbinger Capital Partners LLC, according to four people familiar with the talks
April 12, 2012 by Bloomberg · Leave a Comment
Chinese iron ore demand to remain strong – Vale CEO
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By Sabrina Lorenzi
Chinese demand for iron ore will remain strong, defying expectations of a slowdown in the world’s second-largest economy, the chief executive of Vale SA, the top producer of the mineral, said on Tuesday.
“Those who have been betting against Chinese growth Read more
April 11, 2012 by Mineweb · Leave a Comment
Junior minor BC Iron upgrades Nullagine resource in the Pilbara
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By Sarah-Jane Tasker
PILBARA junior BC Iron has extended the life of its flagship mine as it eyes further potential tie-ups with joint venture partner Fortescue Metals Group.
The miner, which operates the Nullagine project in a joint venture with Fortescue, revealed this week a resource upgrade at the West Australian project, saying the results had extended the mine’s life by 18 months. Read more
April 6, 2012 by The Australian · Leave a Comment
