As China continues to urbanize, iron ore demand will remain robust, with prices staying in the $130 to $140 a tonne range for the next couple of years, says the executive VP of CFH Capital.
Now may be the time to take another look at iron ore companies as an investment, with many making major gains over the last 3 months.
Iron ore has had a pretty good run this year, but the market is awaiting an onslaught of new product from Australia, Brazil and India, which is likely to push the price down.
The world's second-largest iron ore producer is ramping up production and lowering its costs, which could threaten smaller producers of the steelmaking commodity.
Mamba Minerals (ASX:MAB) on Friday announced that it will merge with Champion Iron Mines (TSX:CHM), a Canadian iron ore developer with properties in the Labrador Trough.
The government of South Australia has granted final approval for a new iron ore project in the Eyre Peninsula, according to AAP, via Steel Guru.
London Mining (LSE:LOND said on Wednesday it will seek an investment partner to develop its $2-billion iron ore mine in Greenland, The Times reported via Invezz.
Brazilian steelmaker Gerdau SA (NYSE:GGB) said Thursday it will spend $5.8 billion through 2020 to expand its iron ore processing capacity to 24 million metric tonnes a year, Platts reported.
Cap-Ex Iron Ore Ltd. (TSXV:CEV) CEO Francois Laurin spoke with the Investing News Network about their Block 103 Iron Ore project on the Labrador Trough, one of the top 20 mining jurisdictions according to the Fraser Institute. He said that the Company recently announced a resource of 7.2 billion tonnes of iron ore over a [...]
New Millennium Iron (TSX:NML) President and CEO, Dean Journeaux, spoke with the Investing News Network during PDAC in Toronto on their iron ore projects in Québec and Labrador the Company's plans for the future.
Century Iron Mines (TSX:FER) CEO Sandy Chim spoke with the Investing News Network during PDAC in Toronto, on Eastern Canada as a mining jurisdiction and upcoming milestones for the Company in 2013.
Champion Iron Mines (TSX:CHM) Vice President of Corporate Communications Jeff Hussey spoke with the Investing News Network during PDAC in Toronto on looking for iron ore in Quebec and the Company's future plans.
The Edmonton Journal reports that drug cartels in Mexico are diversifying their sources of income by getting into illegal iron ore mining.
Reuters reported that Shanghai rebar futures fell to their lowest in almost three weeks on Monday. Iron ore futures also retreated, closing down 0.3 percent at 932 yuan a tonne.
The Australian Financial Review reports that a secret agreement between BHP Billiton (NYSE:BHP, ASX:BHP, LSE:BLT) and the Port Hedland Port Authority could play a key role in which companies are allocated port capacity in the future.
Steel Guru reports, via Reuters, that spot iron ore scaled a two month high as recent gains in Chinese steel prices encouraged producers to pick up cargoes of the raw material, setting it up to test the USD 140 per tonne level last seen in August.