New official data from China is reportedly revealing that iron ore imports in the country have been up this year through October, and in that month alone jumped 4.48% year-over-year on rises in steel margins.
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China’s Xuzhou Construction Machinery Group (XCMG) entered an agreement with Rio Tinto’s Simfer to supply equipment for its Simandou iron ore project in Guinea, according to a Reuters report. XCMG, headquartered in Xuzhou city, will provide core mining equipment with a total value of about 800 million yuan, or US$111.91 million. The fleet includes dozens of 230-metric ton mining trucks,…
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Baffinland Iron Mines said it has tendered the resignation of Brian Penney as its chief executive officer and has appointed Jowdat Waheed to take his place, effective immediately. Penney opted to step down to allow more time with his family on the east coast of Canada. Waheed, who was president and CEO of Baffinland parent company Nunavut Iron Ore, previously…
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Rio Tinto said it shipped its four billionth tonne of iron ore from the Pilbara in Western Australia to China after half a century of working together. The shipment was loaded at Dampier Port on 19 July, bound for China Baowu Steel Group – the world’s top steel producer. “China’s strong demand for high-quality minerals such as iron ore has…
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Rio Tinto said it will invest A$215 million to develop a research and development facility in Western Australia to further assess the effectiveness of its low-carbon ironmaking process, BioIron. The facility, located south of Perth in the Rockingham Strategic Industrial Area, will include a pilot plant that will be 10 times larger than its predecessor in Germany. It will also…
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Anglo American has rejected a third unsolicited takeover proposal from rival miner BHP but has agreed to extend the PUSU deadline to May 29. The latest bid included the same highly complex structure as the previously rejected proposals, which involved an all-share offer with a requirement for Anglo American to complete two separate demergers of its entire shareholdings in Anglo…
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The Government of Canada has awarded Rio Tinto Iron Ore Company of Canada (IOC) C$18.1 million to support the decarbonization of iron ore processing at its operations in Labrador West. Full story.
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Vale SA and BHP, along with the pair’s Samarco iron ore joint venture, must pay 47.6 billion reais, or US$9.67 billion, for damages sustained in the Samarco Fundao tailings dam burst in Mariana, Brazil more than eight years ago. According to reports from Bloomberg and Reuters, the legal decision regarding the November 2015 incident that killed 19 was made 25…
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Australia’s Fortescue Metals Group said it will cooperate with Chinese authorities to resolve unusual customs delays of two iron ore shipments at the Caofeidian Port in Tangshan, reported Reuters. “We will just work through with the relevant port authorities to understand what they need, such that we clear the cargoes as soon as possible,” Vivienne Tieu, director of Sales, Marketing…
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Rio Tinto has reportedly stopped some production at its Nammuldi iron ore mine site in Western Australia after an Indigenous rock shelter was damaged. Read the full story here.
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