A top BHP Billiton executive has admitted the mining giant’s safety record was “abysmal” in 2008/09, when five separate and unrelated fatal accidents occurred at its West Australian iron ore mines. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News Global commodity demand appears to be bouncing back. Miners, who had been savagely affected by the recession as customers slammed the brakes on spending and relied on the backlogs in their warehouses, are also reporting a pick-up. Steadily rising prices for key commodities such as copper and [...]
Mr Andrew Michelmore former head of OZ Minerals Limited declared that Minerals and Metals Group, or MMG the Australian unit of China Minmetals Corporation may pursue iron ore assets. For full story, click here
Australian iron ore producer that commenced shipping to China last year Atlas Iron Ltd will sell shares worth as much as AUD 117 million to help fund expanded production. For full story, click here
Global miners Rio Tinto and BHP Billiton are to combine their Australian iron ore operations, six months after BHP dipped a hostile takeover bid for Rio Tinto. John Sevior, head of Australian equities for Perpetual Investments, stated: I think it’s a very clever deal. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News Shares in WA’s mid-west iron ore miners and explorers lifted after the Federal Government committed $339 million towards the $4 billion Oakajee port. The government matched funding offered by the WA state government in its 2009/10 federal budget handed down on Tuesday, bringing the total government commitment [...]
Wuhan Steel has inked framework agreement with Australian WPG on April 29th to invest AUD 45 million in earning 50% interest of the latter’s deposit in Hawk Nest, the middle parts of South Australia. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News The alarm bells have started ringing. On the sidelines of a mining conference, Rio Tinto said iron ore prices are certain to fall in 2009, the first decline in seven years, but not by the 50 per cent suggested by some steel makers. On the spot market, [...]
Chinese steelmaker Hunan Valin Iron & Steel Group Co Ltd announced that it would purchase a further 0.9% stake in Australian iron mining company Fortescue Metals Group Ltd thus raising its total stake to 17.4%. For full story, click here
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