A Vancouver native, Charlotte recently graduated from Simon Fraser University, where she majored in English and Humanities. During her time there, SFU’s Writing and Communications program caught her attention, and she began working towards a Certificate in Editing. After completing an editorial internship at Vancouver’s Western Living magazine in the fall of 2010, she knew that she wanted to pursue editing further.
Charlotte started working for the Investing News Network in the spring of 2012 and now specializes in writing about diamonds, precious metals, base metals and graphite. She received her Certificate in Editing in 2013.
Australian Mining reported that Centrex Metals Ltd. (ASX:CXM) has decided to write down its South Australian iron ore exploration assets. It will now focus on developing its Western Australia-based Oxley potash project.
Cliffs Natural Resources Inc. (NYSE:CLF) released its results for Q1 2015, noting that its revenues came in at $574 million, though that doesn’t consider revised accounting treatment for its North American coal and Canadian entities.
Wednesday saw mining giant BHP Billiton release its operational review for the nine months ended March 31, 2015. It includes at least one big surprise for investors: the company will be slowing its iron ore expansion program.
Mining Weekly reported that Moody’s Investors Service sees metallurgical coal and iron ore prices remaining under pressure “at least” through to 2016. The firm has thus lowered its price expectations for both commodities.
Australian Mining reported that Justin Smirk, chief economist at Westpac, doesn’t see the iron ore price recovering until at least 2016. He also believes the metal’s price may sink lower than its current level.
Reuters published an article that looks at the question of who is actually benefiting from iron ore oversupply, noting that interestingly the main beneficiaries are companies that make steel-intensive products.
Mining Australia reported that Nev Power, CEO of Fortescue Metals Group Ltd. (ASX:FMG), has blamed Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) and BHP Billiton Ltd. (ASX:BHP,LSE:BLT,NYSE:BHP) for poor iron ore prices.
Reuters reported that India is looking at getting rid of the export tax on low-quality iron ore produced in Goa. The news is not great for the industry as it may put further pressure on prices for the metal.
Shares of iron ore and coal producer Cliffs Natural Resources were up 8.57 percent, at $6.97, at close of day Monday. The rise followed the release of the company’s results for Q4 2014, as well as 2014 as a whole.