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Company News

Fortescue Metals Forecasts Hike in Iron Ore Shipments

The Wall Street Journal reported today that Australia's Fortescue Metals Group (ASX:FMG) will increase its iron ore shipments by up to 29 percent over the coming year. The company hopes to bring down costs as it increases production, according to the Journal.

Investors Buying Vale Bonds on Speculation of Iron Ore Price Rebound

Bloomberg reported on Sunday that investors have been buying bonds sold by Vale SA (NYSE:VALE) on the back of news that iron ore prices may soon be on the rise again. Vale's stock price has gone up 8.4 percent since June 16, according to Bloomberg.

Century Iron Mines Corporation CEO Sandy Chim (TSX:FER)

Century Iron Mines Corporation (TSX:FER) CEO Sandy Chim talked to Resource Investing News about its flagship project - Joyce Lake - in Quebec. Investors can expect a Bankable Feasibility Study in the first quarter of 2015.

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Market News

India Not Planning to Restrict Exports of Iron Ore

The Deccan Chronicle Reported that although India is attempting to curb illegal money, the country will not restrict its exports of iron ore. According to the Chronicle, Minister of State for Steel Vishnu Deo Sai has stated that the country will still have enough ore to supply domestic steelmakers.

Indonesia Resumes Export of Some Metal Ore Concentrates

Mineweb reported today that shipments of iron ore, lead, and zinc have left Indonesia following the implementation of a mineral export ban from the country in January. Two firms, Sebuku Iron Lateritic Ores and Lumbung Mineral Sentosa, agreed to pay a controversial 20 percent export tax, according to Mineweb.

Long Term Iron Price Will Be $110 a Ton, Vale CEO

Bloomberg reported this week that Vale CEO, Murilo Ferreira sees iron ore prices coming back up to $110 a pound on growing demand from China. Together with fellow major miners like Rio Tinto (NYSE:RIO), Vale is upping its mine production on the belief that higher volumes will balance lower prices, according to Bloomberg.

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