The Australian reports that 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.
ABC News reports that a proposal by Venture Minerals (ASX:VMS) to build an iron ore mine in Tasmania's Tarkine region has cleared an environmental hurdle.
Australian mining major Fortescue Metals (ASX:FMG) has officially opened its Firetail iron ore mine at its Solomon Hub, reports Australian Mining.
EPC Engineer reported that Rio Tinto has installed a new shiploader at the new wharf at Cape Lambert. The shiploader is a major part of the company's Pilbara expansion, which is progressing on schedule, and has a nominal annual capacity of 55 million tonnes.
Bloomberg reported that Liu Han, the chairman of Sichuan Hanlong Group, will miss today’s deadline to move ahead with the Sundance Resources Ltd takeover, on reports he may be in police custody for sheltering a person suspected of murder.
Reuters reported that Fortescue Metals Group expects to sell approximately 30 to 40% stake in its port and rail unit, The Pilbara Infrastructure, to pay down debts.
Reuters reported that iron ore export ports in Northwestern Australia, such as port of Dampier, Port Hedland, and Cape Lambert have reopened or will reopen Thursday after powerful Cyclone Rusty have reportedly weakened.
Platts reported that China’s iron ore imports from Australia reached 32.42 million mt in January, which is 21% more than last year, based on the data provided by the General Administration of Customs.
Prices have hit both 15-month highs and three-year lows in the last five months, leaving investors wondering what’s next.
A brief overview of iron price developments, supply and demand and significant market movers.
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