Rio Tinto Ltd (RIO:ASX) has announced the continuation of the Iron Ore Company of Canada (IOC) operations programme to increase its annual concentrate capacity by four million tonnes to 22 million tonnes by 2012. IOC Chairman and Rio Tinto chief executive, Iron ore Sam Walsh is quoted saying: “Some uncertainty and potential volatility remain about [...]
Interfax-Ukraine declared that most Ukrainian mines reduced iron ore production significantly in January to July however the dip in the industry appears to be slowing. For full story, click here
Australian iron ore producer that commenced shipping to China last year Atlas Iron Ltd will sell shares worth as much as AUD 117 million to help fund expanded production. For full story, click here
By Kishori Krishnan Exclusive To Iron Investing News Shares in WA’s mid-west iron ore miners and explorers lifted after the Federal Government committed $339 million towards the $4 billion Oakajee port. The government matched funding offered by the WA state government in its 2009/10 federal budget handed down on Tuesday, bringing the total government commitment [...]
Egyptian Iron and Steel Company’s output of pig iron exceeded 1 million tonnes of in 2008 against 1.175 million tonnes in 2007. For full story, click here
Australia’s Fortescue Metals Group has cut its full-year sales forecast by 15 percent to 26 million tonnes on Wednesday, following heavy rains in the March quarter, the second iron ore miner to signal lower output this week. For full story, click here
The Tatas and the Canadian iron ore prospecting company, New Millennium Capital Corporation has announced proposal to commence mining and direct shipment of ore to Corus from April-June quarter of 2011. 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, [...]
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 [...]
Goldman Sachs reported that it has deepened its contract iron ore price forecast to a record 40% decline because of slumping global steel production. For full story, click here
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