Minerals Corporation Limited of Wuhan Iron and Steel (Group) (WISCO) has acquired 65 million common shares of Consolidated Thompson Iron Mines Limited (TSX: CLM). The shares were acquired by way of private placement for an aggregate subscription price of C$ 28,748,227.20 or C$ 4.40 per share. The shares were acquired for investment purposes only. For [...]
Continue reading "WISCO acquires Consolidated Thompson shares"
Thursday, April 2, 2009
By Kishori Krishnan Exclusive to Iron Investing News The talks haven’t borne fruit, as yet. Even as news comes filtering in that China has landed a 40 per cent price cut with the Top Three ore miners, final iron ore talks for fiscal 2009/2010 have yet to see the light of day. Shan Shanghua, secretary-general [...]
Continue reading "Iron Ore Prices To Linger Low"
Wednesday, March 11, 2009
By Kishori Krishnan Exclusive To Iron Investing News The closure of major steel operations in the Hamilton area are set to reverberate around the economy, potentially affecting everyone from iron ore producers in Quebec and Labrador to coal companies in Western Canada. Pittsburgh-based United States Steel Corp. has said it will indefinitely idle operations at [...]
Continue reading "Iron price set to find its equilibrium"
Thursday, February 12, 2009
By Kishori Krishnan Exclusive to Iron Investing News The second week of February brings some cheer for the iron ore sector. There are very initial signs that contrary to analysts’ expectations at the start of the year of a drop of about 40 per cent in iron ore prices this year, improving sentiments may not see [...]
Continue reading "Improving sentiments help iron prices"
Tuesday, February 3, 2009
By Melissa Pistilli-Exclusive to Iron Investing News President Barack Obama’s US$819-billion stimulus package apparently carries a “Buy American” provision that has seriously ruffled the feathers of the Canadian government. There are fears that the proposed protectionist measures could essentially create a trade barrier against Canada’s iron and steel exports to the U.S. On Thursday, the [...]
Continue reading "“Buy American”, a NAFTA violation?"
Tuesday, December 16, 2008
By Melissa Pistilli-Exclusive to Iron Investing News The Baltic Dry Index (BDI), what has been referred to as the “canary in the coal mine” for global trade health, rose 7.5 per cent on Friday. This latest development has injected a dose of optimism into the iron ore market. “Indications are that miners have been [...]
Continue reading "Baltic dry index: Iron market revival"
Tuesday, December 2, 2008
By Melissa Pistilli-Exclusive to Iron Investing News BHP Billiton’s hostile takeover bid for rival Rio Tinto finally came to an end last week. On November 25, BHP announced it was dropping its $66 billion bid for Rio due to the current global economic crisis and Rio’s $42.1 billion in debt. The takeover process had begun [...]
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Tuesday, November 18, 2008
By Melissa Pistilli-Exclusive to Iron Investing News Customers of the world’s three largest iron ore producers have asked for shipment deferrals leading the big miners to consider production cutbacks. Vale [NYSE: RIO], the world leader, has cut output by 10 per cent and maintains it will cooperate with customers needs. Rio Tinto [RTP] has also [...]
Continue reading "BHP sees no need to cut production"
Tuesday, November 4, 2008
By Melissa Pistilli-Exclusive to Iron Investing News EU objects to BHP takeover of Rio The European Commission (EU) has issued a statement of objections to BHP Billiton Ltd. concerning its hostile takeover of Rio Tinto Inc. The statement outlines the potential competition problems that may result from such a merger. EU anti-trust regulators have voiced concerns [...]
Continue reading "Iron ore industry highlights"
Tuesday, October 21, 2008
By Melissa Pistilli-Exclusive to Iron Investing News As China’s economic growth began to slow into the third quarter this year, many pointed a finger at factory closures during the Olympics. But now there is little doubt that the spreading global economic crisis is taking a toll on Asia’s largest boom economy. And it’s becoming quite [...]
Continue reading "Waning chinese growth affects iron prices"
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Tuesday, September 29, 2009