By Kishori Krishnan Exclusive To Iron Investing News Iron clad deals are in play. Chinese steel and iron ore group Baosteel has proposed to pay US$ 1.6 billion for a 30 per cent stake in Anglo American‘s (AAL.L) huge Minas Rio iron ore mine in Brazil. Traders maintain that any deal with Baosteel could help [...]
Rio Tinto, the world’s third leading mining company, that its iron ore output surged 8 percent in the second quarter and that it expects a recovery in Chinese steel demand in the second half of the year. For full story, click here
An Australian man is one of four Rio Tinto employees who have been arrested and detained by Chinese authorities, with the Rudd Government demanding Beijing provide “urgent consular access to him”. For full story, click here
Global miners Rio Tinto and BHP Billiton are to combine their Australian iron ore operations, six months after BHP dipped a hostile takeover bid for Rio Tinto. John Sevior, head of Australian equities for Perpetual Investments, stated: I think it’s a very clever deal. For full story, click here
Mount Gibson Iron Ltd. declared that it has set its contract iron ore prices in line with the price cuts agreed between Rio Tinto Ltd. and Nippon Steel Corp. this week. 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 [...]
Goldman Sachs JBWere Private declared that cash prices for iron ore will bottom this quarter as demand from China rebounds, boosting forecast earnings for BHP Billiton Limited and Rio Tinto Group. Mr Malcolm Southwood and Mr Paul Gray analysts of Goldman Sachs JBWere declared: We now believe that the current quarter will mark the bottom [...]
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 [...]
Mining giant Rio Tinto Ltd/Plc announced that its proposed deal with Chinese state-owned Chinalco would not influence iron ore contract price negotiations for the year ahead. For full story, click here
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