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Company News

BHP CEO Defends Iron Ore Strategy

The CEO of BHP Billion (ASX:BHP) said the company's strategy of high-volume iron ore production is the best way to make a profit in less than desirable market climes.

Champion Iron Partners Up to Advance Rail Feasibility

Champion Iron Limited (TSX:CIA) announced that the Government of Québec and Lac Otelnuk Mining Ltd., a joint venture between Adriana Resources ("Adriana") and WISCO International Resources Development & Investment Limited, have formed a partnership for the advancement of a feasibility study for a new rail line in the Labrador Trough. The partnership is called "La Société ferroviaire du Nord québécois," or the SFNQ.

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Market News

Inland China Steel Mills Could Increase Iron Ore Demand

According to Mining.com, a report from Nick Pickens of Minerals Value Service stated that inland steel makers in China could have a capacity for up to 300 million tonnes of iron ore demand. Though that supply could also come from longer term agreements or captive mines, there is some possibility that those producers could look to seaborne supply as a competitive alternative, according to Pickens.

Iron Ore Imports Dropped for China in August

China's imports of Iron ore dropped this August compared to the previous month, Reuters reported. The decline was due to a slump in demand and growing supply.

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