Iron Ore Market News

Iron ore producers delighted with quarterly pricing

The head of iron ore for Rio Tinto says the new quarterly pricing system for iron ore has been a total win for the industry.... Click here for the full article

Source: ABC Rural
03 September 2010

Brazil Iron-Ore Discovery in Mato Grosso State May Become World's Largest

Brazil discovered an iron-ore deposit that may be the world’s largest, topping Vale SA’s Carajas mine, a government official said. ... Click here for the full article

Source: Bloomberg
03 September 2010

Rio Tinto opens Brockman 4 iron ore mine in the Pilbara

The opening today of the US$1.5 billion Brockman 4 mine follows hot on the heels of the company’s decision to invest US$1.6bn in the Hope Downs 4 mine, and nearly US$1bn on expanding output from 225mtpa to 330mtpa by 2016. ... Click here for the full article

Source: Australian Journal of Mining
02 September 2010

Brazil state says makes big iron ore find

Brazil's Mato Grosso state government said on Wednesday it had registered a major mineral deposit discovery with an estimated 11.5 billion tonnes of iron ore of a 41 percent Fe grade.... Click here for the full article

Source: Reuters Africa
02 September 2010

Japan’s Mills Win 7% Price Cut for Coal From BHP, UBS Says

Japanese steelmakers, the world’s second-largest producer of the metal, won a 7 percent cut in quarterly coking coal prices, the first reduction this year, from BHP Billiton Ltd., according to UBS AG. ... Click here for the full article

Source: Bloomberg Businessweek
01 September 2010

Iron Ore, Coal Prices to Post First Fall on Weaker Mills Demand

Coking coal and iron ore sold by BHP Billiton Ltd. and Rio Tinto Group, will post the first price decline in three quarters as steelmakers cut orders on weaker demand from automakers and builders in China. ... Click here for the full article

Source: Bloomberg
01 September 2010

Steel firms come knocking at Canada's iron ore door

Canadian iron ore explorers hope to win lucrative contracts or joint ventures from steel majors seeking to secure supplies and escape the clutches of the three mining powerhouses that control two-thirds of the $88 billion global seaborne iron ore trade.... Click here for the full article

Source: Reuters India
01 September 2010

Global mines may cut iron ore prices in Oct

The top three global mines may cut iron ore prices by around 10 percent in October as China's demand for the mineral falls... Click here for the full article

Source: China Daily
01 September 2010

Iron Ore Ships Have Best Month Since May 2009 on `Crazy' Chinese Demand

The cost of delivering iron ore by sea had its largest monthly advance since May 2009 after Chinese steel mills increased imports of the steelmaking raw material. ... Click here for the full article

Source: Bloomberg
31 August 2010

Vale May Cut Iron-Ore Price

Brazilian mining company Vale SA said it may cut prices on iron ore for the first time in a year after instituting a new pricing mechanism tied to Chinese spot prices. ... Click here for the full article

Source: Wall Street Journal
31 August 2010

Sesa Goa plans 9000 crore Rupee Steel Foray

Iron-ore mining company Sesa Goa has finalised a blueprint to diversify into steelmaking with an investment of Rs 6,000-9,000 crore, in Orissa and Jharkand. ... Click here for the full article

Source: Business Standard
31 August 2010

Cashflow Earns Fortescue Some Respect

Fortescue Metals has proven an enigmatic investment proposition from the get-go. Having burst on to the scene late in the pre-GFC mining boom with promises of untold iron ore riches, Fortescue's initial Poseidon-like rise polarised analysts.... Click here for the full article

Source: NineMSN
31 August 2010

Rio Tinto approves $1.8b for new iron ore mine

Rio Tinto says it will invest $US1.6 billion ($1.8 billion) to develop the Hope Downs 4 iron ore project in Western Australia and link it with existing rail, power and port infrastructure in the Pilbara.... Click here for the full article

Source: Sydney Morning Herald
31 August 2010

China Iron Ore Imports to Rebound to Record, NYK Says

Iron ore imports by China, the largest buyer, are likely to recover next quarter and break last year’s record as lower prices and depleted stockpiles spur purchases by steel mills, Nippon Yusen K.K. said. ... Click here for the full article

Source: Bloomberg Businessweek
27 August 2010

Mining CEOs May Favor Takeovers of $10 Billion, Standard Chartered Says

Mining chief executives “gun shy” from the global financial crisis may favor small-to-medium takeovers to expand production rather than building their own mines that take years to develop, said Standard Chartered Plc. ... Click here for the full article

Source: Bloomberg
27 August 2010

RESOURCES