By Kishori Krishnan Exclusive to Iron Investing News Rio Tinto Ltd. (LON:RIO) gave a gloomy assessment of global commodity markets Tuesday, saying there is unlikely to be much of a rebound this year and warning the downturn will continue to hit its profits. The downbeat outlook reinforces the company’s message that it needs to proceed [...]
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 [...]
Macarthur Minerals (CVE:MMS) reported today new drill results that significantly increase the extent of the magnatite iron ore mineralization at the Moonshite area of the Lake Giles project in Western Australia. The results include several intervals over 100m thick all with Davis Tube concentrations of over 64% iron. The company goes on to report that [...]
Could long-term contract prices of iron ore be 40% lower in 2009-10 than last year? Even before the annual round of talks for iron-ore contracts in April, the industry is talking about the need of mining companies to lower prices significantly, given the 40-50% drop in spot prices over the last few months. Analysts of [...]
Baffinland Iron Mines Corp (TSX:BIM) reported today on drill results from the 2008 drilling program. A total of 26 holes were reported on including cumulative 2,680 metres of 66% iron. Hole MR1-08-154 intersected a true width of more than 196 meters grading 66.5% iron. Baffinland has reported in the past that much of this is [...]
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 [...]
Advanced Explorations Inc. reported more significant results from their Roche Bay iron ore project in Nunavut, Canada. The company reported an intersection of 218.5 metres of 32.21% iron from what is the most significant results yet from the “C-Zone”. John Gingerich, AEI’s President and CEO is quoted saying: The results, such as those reported here, [...]
India’s iron ore prices were steady from a week ago as Chinese buying persisted after a revival in December, exporters and a trade body official said . For full story, click here
Advanced Explorations Inc. have announced significant results from their Roche Bay iron ore project in Nunavut, Canada. One drill hole included almost 100 meters of 27.31% iron and 34 meters of 32.37% iron. Advanced Exploration President and CEO John Gingerich is quoted saying: Previous resource and economic studies focused on the A and B Zones. [...]
Iron ore prices are set to fall in 2009 after six years of price hikes as deteriorating demand triggers severe production cuts in the steel industry, Macquarie analyst Christina Lee said in a research note: After six consecutive yearly rises totalling almost 400 percent, iron ore prices are certain to fall due to major collapse [...]
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