Mining Weekly reported that African Rainbow Minerals’ executive chairperson and South African mining magnate, Patrice Motsepe wants to invest in Guinea’s iron ore.
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Mining Weekly reported that a giant ship carrying iron ore owned by Vale SA has entered a port in eastern China, marking its first entry since its ban in January 2012.
Bloomberg reported that Vale SA’s first quarter iron ore output dropped 3.5% to 67.5 million metric tons after permit shortages and operational limitations.
Reuters reported that BHP Billiton said the prices of iron ore will decline over the next few years as major iron ore companies have plans to boost production by 2015 and demand from China weakens.
Mining Weekly reported that Australia’s Port Hedland shipped 22% more iron ore to China in March compared to the previous month, a strong indicator of positive Chinese industrial activity.
Reuters reported that iron ore price forecasts fall below $100/ton on slow demand and increasing supply, causing mining stocks to decline further. But the world’s biggest iron ore miners remain bullish.
Reuters reported that BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT) has responded to allegations from China's National Development and Reform Commission that the top three iron ore miners — BHP, along with Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Vale (NYSE:VALE) — and some traders manipulated the markets to show a shortage of iron.
Reuters reported that China’s National Development and Reform Commission lashed out at the top three iron ore miners, accusing them of manipulating the market to increase iron ore prices by 80 percent.
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.
Reuters reported that Port Hedland, which handles a fifth of the world’s seaborne-traded iron ore, braces for Cyclone Rusty. Evacuations have started, temporarily stopping the loading of millions of tons of iron ore.