Australia’s Fortescue has signed a memorandum of understanding with Baowu Resources, a wholly-owned subsidiary of China Baowu Steel Group, to address challenges in decarbonising the global steel industry, reported Reuters. “We are committed to building a green iron supply chain,” said Fortescue COO Shelley Robertson. “The partnership with China Baowu will help further accelerate the development of green iron technology…
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Two of Australia’s major miners and its biggest steelmaker plan to develop the country’s largest ironmaking electric smelting furnace (ESF) pilot plant in the Kwinana Industrial Area, south of Perth, in Western Australia. The companies formed the NeoSmelt collaboration in February 2024, combining BHP and Rio Tinto’s deep knowledge of Pilbara iron ore, with BlueScope’s unique operating experience in ESF…
Read MoreVale announced it has fulfilled all conditions precedent in its partnership with Anglo American, where the company has acquired a 15% equity interest in Minas-Rai mine complex owner Anglo American Minério de Ferro Brasil. Considering the closing of the transaction, Anglo American will now own the Serra da Serpentina assets previously owned by Vale in Brazil. Under the terms of…
Read MoreVale and BYD have signed a letter of intent to explore the electrification of Vale’s light vehicle fleet. The study will evaluate the necessary infrastructure for recharging vehicles in Vale’s areas and test electric models like the BYD Dolphin and Shark pickup in operational areas. The initiative aims to reduce the use of fossil fuel-powered cars and contribute to the…
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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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