Iron Ore
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Exclusive iron ore port could boost Vale expansion plan
The global production of iron ore products reached 2.2 billion tonnes in 2020 and is expected to reach 2.35 billion tonnes in 2021, according to Fastmarkets. Despite the Covid-19 pandemic, China has imported a record amount of iron ores, pushing…
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Vale starts operations at Vargem Grande filtering plant
Vale (NYSE: VALE) has gradually started operations at a waste filtering plant in the Vargem Grande complex, the first of four the company plans to install at sites in Minas Gerais, Brazil, at a cost of US$2.3 billion between 2020 and…
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Labrador Iron releases PEA on construction-ready Houston in eastern Canada
A preliminary economic assessment from Labrador Iron Mines Holdings (OTC: LBRMF) on its 52%-held Houston project on the Labrador-Quebec border suggests a 12-year open pit producing 2 million tonnes per year of material grading 62% iron. With a year-round mining…
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Friedland-backed HPX to fast-track Guinea iron ore project
Billionaire Robert Friedland-backed High Power Exploration (HPX) said on Monday it had raised $200 million for its proposed Nimba iron ore mine in southeastern Guinea, home to some of the world’s highest-grade deposits, including the giant Simandou. The funds received will…
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Rio Tinto to attempt producing low-carbon iron in Canada
The world’s second largest miner Rio Tinto (ASX, LON, NYSE: RIO) has teamed up with two European companies to explore production of low-emissions hot briquetted iron (HBI) in Canada, amid increasing pressure from stakeholders to make steelmaking a more environmentally-friendly…
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Rio Tinto to tackle customers emissions, issues biggest dividend ever
Rio Tinto (ASX, LON, NYSE: RIO) has rewarded investors with the biggest dividend in its 148-year history and laid out plans to tackle the vast carbon footprint of its global customers, in an effort to leave behind what its new…
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Iron ore price jumps as Vale reports low output
Iron ore futures jumped on Thursday, after Vale reported fourth-quarter output of 84.5 million tonnes, a 5% decline over the third quarter (when it generated 88.6 million tonnes). According to Fastmarkets MB, benchmark 62% iron fines imported into northern China (CFR Qingdao)…
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Brazilian state rejects Vale’s US$4B offer for dam disaster
The head of the Brazilian state of Minas Gerais, where Vale’s (NYSE: VALE) Brumadinho dam collapsed in January 2019 leaving 270 people dead, has rejected the miner’s proposed settlement of around 21 billion reais (US$3.97 billion). Minas Gerais’ Secretary General…
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Champion Iron to acquire Kami out of Alderon restructuring
Champion Iron plans to acquire the Kamistitusset iron ore project in southwest Newfoundland – only a few kilometres away from its Bloom Lake mine – for total consideration of $34.4 million. The project’s former owner, Alderon Iron Ore, defaulted on…
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Black Iron advances offtake and construction agreements for Ukraine project
Ukraine-focused iron developer Black Iron has provided an update on the progress of a formal offtake process and construction and investment agreements for its Shymanivske iron ore project. Black Iron is reviewing proposals from the first round of submissions from…
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FPX releases ‘large-scale’ PEA for Baptiste
FPX Nickel has released the results of a preliminary economic assessment (PEA) on the Baptiste nickel project in the company’s Decar nickel district, in B.C., which, according to Martin Turenne, the company’s president and CEO, “establishes Baptiste as a premier…
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COMMODITIES: B of A forecasts US$3,000 gold, US$35 silver
UNITED STATES – In April, Bank of America Global Research increased its 18-month price target on gold from US$2,000 per oz. to US$3,000 per oz. and forecast an average gold price in 2020 of US$1,695 per oz. and US$2,063 per oz.…
