China’s steel mills have not yet struck a deal on iron ore prices with foreign suppliers, an executive from a top steelmaker, rebuffing a newspaper report that China had given in on talks. Tian Zhiping, the vice general manager of Hebei Iron and Steel Group, stated: There’s still no deal so far. Negotiations are still [...]
China’s leading steel industry group strongly opposes a joint venture deal consolidating iron ore assets of BHP Billiton and Rio Tinto in Australia. For full story, click here
China rejected on Wednesday a 33 percent cut in iron ore prices agreed a day ago by Japanese steelmakers, while No.4 international mill POSCO prepared to accept the deal, highlighting the growing schism that has emerged in a single benchmark system. 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, [...]
IronClad Mining Limited has signed a MoU with Wuhan Iron & Steel Corporation of China to jointly fund and develop two iron ore projects in South Australia. For full story, click here
Mount Gibson Iron said that the company has struck an in-principle agreement with the Dambimangari Native Title Group to allow exploration at Koolan Island. For full story, click here
Rio announced that it would buy raw material from Iron Ore Holdings’ 1.5 million-tonne-a-year mine at Phil’s Creek. The agreement between Rio and IOH can unlock millions of tonnes of stranded iron ore in Western Australia’s Pilbara. For full news, click here
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