Reuters reported that while Australian shares may be unlikely to revisit their 19-month highs Tuesday after the easing of the global share markets, miners will benefit from the solid iron ore prices and China’s improved growth.
Reuters reported CITIC Pacific has filed a court injunction against Clive Palmer over disputed royalties at the $8 billion Sino iron project in Western Australia.
CNBC reported Cliffs Natural Resources (NYSE:CLF) says it will lay off about 625 people at a Michigan mine and cuts production at a Minnesota iron ore mine.
Mining Weekly reported a new Roskill report predicts that while its likely iron ore will remain volatile.
Bloomberg reported Posco (NYSE:PKX) may buy a stake in ArcelorMittal Mines Canada Inc. (NYSE:MT) after canceling a bid for Arrium Ltd. (ASX:ARI).
Reuters reported BHP Billiton (NYSE:BHP) says it will expand its iron ore production by a fifth in the next year.
BusinessReport reported Anglo American (LSE:AAL) said it expects the Minas-Rio iron ore project to $8 billion from $5.8 billion.
Reuters reported Rio Tinto (ASX:RIO) says the mining industry in Australia is complacent and current attitude will lead to widespread cost cuts on lowered iron prices.
Bloomberg reported Anglo American Plc (LSE:AAL)’s Kumba iron ore unit said profit will drop at least 20 percent this year on lower prices and strikes in South Africa.
Afferro Mining Inc. (TSXV:AAF,LSE:AAAM) announced an update on its Nkout iron project in Cameroon.
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