Iron

Vale Lifts Output as Ore-Price Drop Hits Mines: Corporate Brazil

By Juan Pablo Spinetto

Vale SA, the world’s largest iron-ore producer, aims to increase production to record levels in an attempt to win back market share while higher-cost competitors are hurt by falling prices, said Executive Director for Ferrous and Strategy Jose Carlos Martins.

The Rio de Janeiro-based company can produce as much as 350 million metric tons next year, 40 million tons more than this year, Martins said in a June 14 interview. Read more

Minmetals eyes Rio’s Iron Ore of Canada

By Chuin-Wei Yap

Iron Road breaks the freeze for raising

By Paul Garvey

BC Iron on track despite volatile spot price

IRON ore miner BC Iron is on track to hit its 2014 full production target as the price of iron ore hovers just above $US110 ($A116) per tonne.

The Pilbara-focused player says its joint venture production target remains at six million tonnes per annum (Mtpa), with BC Iron’s share scheduled to be 4.5 Mtpa for fiscal 2014. Read more

Iron ore rally fails to keep China bear at bay

By Sarah-Jane Tasker

Global Iron Ore Capacity to Rise Faster Than China Demand Growth

Global iron ore capacity will rise faster than demand from China’s steel mills, the world’s biggest buyers of the raw material, said Baosteel Group Corp.

Steel output growth has dropped to less than 5 percent a year, from 20 percent between 2000-2006, Chairman Xu Lejiang told a conference yesterday in Shanghai. Baosteel is China’s third-biggest mill by output. Read more

Outlook volatile for iron ore price as Baosteel warns of slower demand

By Sarah-Jane Tasker

THE iron ore price has staged a small rebound but remains significantly below the year-to-date average, as the head of China’s biggest listed steelmaker warns demand will slow.

The strong volatility in the price of the key steel-making ingredient is tipped to continue and while it rose $US4.70 overnight to $US116.60 a tonne, Read more

Rio Tinto draws up shortlist for Canada iron ore sale

By Jackie Range & Anjuli Davies

Mining group Rio Tinto Plc has drawn up a shortlist of half a dozen suitors for its majority stake in Canada’s largest iron ore producer, sources with knowledge of the situation said on Monday.

Rio values Iron Ore Co of Canada (IOC) at around $8 billion and is seeking between $3.5 billion Read more

Atlas to decide on Pilbara mine as iron ore prices hit seven-month low

By David Winning

Sweden’s LKAB Doubles Spending to Find ‘Elephant’ Iron Mine

By Niklas Magnusson

LKAB is doubling spending on exploration in Sweden’s Arctic as the state-owned company targets finding a deposit to match its Kiirunavaara mine, the world’s largest contiguous body of iron ore.

LKAB will boost its exploration spending to 200 million kronor ($30 million) annually from 100 million kronor and is hiring Read more

Arrium gets boost in iron ore exports

ARRIUM said iron ore shipments surged 8.3 per cent in the third quarter as it continued to boost output at its Southern Iron mine in South Australia, which began producing towards the end of last year.

The iron ore producer and steelmaker, formerly OneSteel, said yesterday it exported 1.97 million tonnes of iron ore in the three months to March 31. Read more

Green light given despite failure to address guidelines

By Matthew Denholm

TASMANIA has approved an iron ore strip mine in the Tarkine region, despite failing to meet a requirement to assess its impact as part of broader plans for three neighbouring mines.

The state’s Environmental Protection Agency yesterday announced Venture Mineral’s plan to extract two million tonnes of Read more

Vedanta to Resume Iron Ore Mining by June After Ban Lifted

By Firat Kayakiran

Vedanta Resources Plc (VED), controlled by billionaire Anil Agarwal, is planning to resume iron ore mining in India’s Karnataka region by June after the country’s top court lifted a 21-month ban imposed for environmental violations.

India’s Supreme Court last month allowed Vedanta’s iron ore unit Sesa Goa Ltd. (SESA) and eight other companies to restart operations in Karnataka. Read more

Iron Ore Tumbles Into Bear Market on China Growth Concerns

By Phoebe Sedgman

Iron ore slumped into a bear market on concern that slowing economic growth in China, the world’s biggest buyer, will reduce demand as global supplies increase.

Ore with 62 percent iron content delivered to the Chinese port of Tianjin fell 1.3 percent to $126.40 a ton today, according to The Steel Index Ltd. Read more

Zibo Hongda Unit Plans $1.5 Bln Peru Iron-Ore Mine: Comercio

By Alex Emery

Jinzhao Mining Peru SA, a unit of China’s Zibo Hongda Mining Co., plans to build a $1.5 billion iron-ore mine in Peru by 2016, newspaper El Comercio reported, citing country manager Xiaohuan Tang.

The company aims to produce between 3 million and 5 million metric tons of iron ore a year at its Pampa del Pongo deposit in the southern Andes, the Lima-based newspaper said, Read more

ENRC First-Quarter Ferroalloy Output Falls 2.9% on Maintenance By Firat Kayakiran

By Firat Kayakiran

Eurasian Natural Resources Corp. (ENRC), the ferroalloys producer that’s lost 40 percent of its value in a year, said first-quarter output declined 2.9 percent because of maintenance at its Aksu (AKIPD) plant.

Production of saleable ferroalloys, used in steelmaking, dropped to 364,000 metric tons from 375,000 tons a year earlier, the London-based company said today in a statement. Sales decreased “slightly” from a year earlier as average ferroalloy prices slipped 10 percent, it said. Read more

Rio Tinto tips ore record as Beijing stokes its mills

By Sameer C. Mohindru

RIO Tinto expects its iron ore sales to China to rise to a record this year due to the country’s rising demand for steel, a top executive has flagged.

China’s demand for steel was expected to rise at a compound annual growth rate of 3 per cent in the next decade, Alan Smith, president of Rio Tinto Iron Ore Asia, said at an international conference yesterday. Read more

Rio Tinto executive says iron ore sales to China to hit new high this year

By Sameer C. Mohindru

RIO Tinto expects its iron ore sales to China to rise to a new record this year due to the country’s rising demand for steel, a top company executive says.

China’s demand for steel is expected to rise at a compound annual growth rate of 3% in the next decade, Alan Smith, president of Rio Tinto Iron Ore Asia, said at an international conference in Singapore. Read more

Rio Said to Pursue $5 Billion Iron-Ore Expansion as Glut Looms

By Elisabeth Behrmann

Rio Tinto Group (RIO), the world’s second- biggest miner, will probably pursue a $5 billion expansion of its iron-ore output in Australia, Chief Executive Office Sam Walsh said, according to two people present at a meeting with investors and analysts.

The board is expected to approve in the fourth quarter an increase in annual production to 360 million metric tons from Read more

Copper, Iron Ore Price Outlooks Contingent On U.S. Dollar, Chinese Demand –Deutsche Bank

By Debbie Carlson

The outlook for copper and iron ore prices will depend on the strength of the U.S. dollar, which can be bearish for prices, and the strength of Chinese demand for the two commodities, which can be price-bullish, said strategists at a German Bank.

Daniel Brebner and Xiao Fu, Deutsche Bank strategists, said they reviewed how copper and iron ore would fare under a 5% and 10% rise in the U.S. dollar, Read more

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