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Goldman Sachs Lowers 2017 Iron Ore Price Forecast $5/Dmt to $35/Dmt CFR China

Dec 18, 2015

Investment bank Goldman Sachs late Wednesday lowered its iron ore price forecast for 2017 by $5/dmt to $35/dmt CFR China after a faster-than-expected softening in seaborne prices. "Iron ore prices have reached our $40/dmt forecast one ...

Tags: iron ore price, steel

African Mine

Apr 21, 2015

State-owned Shandong Iron and Steel Group Co Ltd said on Monday that it has acquired the remaining 75 percent stake it does not own in a mining project in western Africa's Sierra Leone. Shandong Steel had earlier acquired a 25 percent ...

Tags: Steel Firm, Iron Group, Steel Group

A Series of Iron Ore Projects May Be Affected as a Result of The Low Prices

Sep 15, 2014

A series of iron ore projects may be affected as a result of the low prices the market has seen for the product, according to media reports. Last week, the product reached $83.60/mt in the Chinese spot market, and from the beginning of ...

Tags: Iron Ore, Chinese spot market

Vale Awarded Abb a $103 Million Contract for Systems at a Vale's Iron Ore Mine

Sep 13, 2014

Brazilian miner and iron ore producer Vale has awarded ABB a $103 million contract for systems at a Vale's iron ore mine in northern Brazil. According to ABB, the deal is part of a project by Vale to expand its capacity. ABB's contract ...

Tags: Metallurgy, Mineral, iron ore

Atlas Iron Officially Opened Its Mt Webber Iron Ore Mine in Pilbara Region

Aug 12, 2014

Australian iron ore miner Atlas Iron Limited has announced that it has officially opened its Mt Webber iron ore mine in Western Australia's Pilbara region. The official opening follows the start of mining activity in December 2013 and ...

Tags: Australian, iron ore, Metallurgy, Mineral

Fortescue Metals Added 1.16 Billion mt of Mineral Resources to Its Greater Solomon Iron

May 22, 2014

Australian-miner Fortescue Metals Group has announced that it has added 1.16 billion mt of mineral resources to its Greater Solomon iron ore mine, following a drilling program. Fortescue stated that total Greater Solomon mineral resources ...

Tags: Fortescue, Iron Ore

AB Group Restored Iron Ore Mine Back to Production to Supply The Steel Industry

May 15, 2014

Stockholm-listed Dannemora Mineral AB, the group that restored the Dannemora iron ore mine in the southeast of Sweden back to production to supply the steel industry, said Tuesday it had applied for a Swedish version of Chapter 11 ...

Tags: Iron Ore, Steel Industry

BHP Billiton Today Celebrated The Official Opening of Its New Jimblebar Iron Ore Mine

Apr 24, 2014

Australian miner BHP Billiton today celebrated the official opening of its new Jimblebar iron ore mine, which is located at 40 kilometres east of Newman in the Pilbara region of Western Australia. Jimblebar delivered first production in ...

Tags: BH Billiton, Iron Ore

Iron Ore Prices Are Likely to Drop to $115/Dry Mt CFR China This Year

Apr 16, 2014

Iron ore prices are likely to drop to $115/dry mt CFR China this year, lower than Q1's $120.68/dmt average, forcing as much as 70-80 million mt/year of high-cost Chinese supplies to shut, Standard Bank said Monday. Iron ore reference ...

Tags: Iron Ore, iron ore demand

Fortescue Has Announced That It Has Opened Kings Valley Iron Ore Mine in Its Solomon Hub

Mar 31, 2014

Australian miner Fortescue has announced that it has officially opened its 40 million mt per year Kings Valley iron ore mine in its Solomon Hub in the Pilbara region, Western Australia, marking the completion of the $9.2 billion expansion ...

Tags: Iron Ore Mine, miner, Fortescue

Vale Might Have to Forfeit $1 Billion in Investments at The Simandou Iron Ore Deposit

Mar 14, 2014

According to a report in Forbes Wednesday, Vale might have to forfeit $1 billion in investments at the Simandou iron ore deposit in Guinea if the Guinean government accepts the recommendations of a committee set up to review mining ...

Tags: Ore, Mineral, Iron

Iron Ore Blast Furnace Pellet Premiums Rose Further in March

Mar 5, 2014

Iron ore blast furnace pellet premiums rose further in March as some steelmakers were said to have agreed quarterly pricing for Q1 around the low $40s/dry mt, and leave open the opportunity to renegotiate for lower pricing later this year. ...

Tags: Iron Ore, Pellet premiums

BHP Billiton Suspended Production at Its Smallest Iron Ore Mine Yarrie

Feb 28, 2014

Australian miner BHP Billiton has announced that it has suspended production at its smallest iron ore mine Yarrie in Western Australia as an additional productivity measure, until further notice. The company said that the employees at the ...

Tags: suspended production, relocated, owner-operated model

Japanese Steelmakers Invest Angelas Iron Ore Mine&Expansion of Its Production Capacity

Feb 20, 2014

Japan-based Nippon Steel & Sumitomo Metal Corporation (NSSMC) and Mitsui & Co., Ltd. (Mitsui) have announced that Robe River Iron Associates, the joint venture company formed by Australian miner Rio Tinto, Mitsui and NSSMC, will invest in ...

Tags: Iron Ore Mine, Mineral

The Massive$3 Billion Valentines Open-Pit Iron Ore Mine Project Will Go Ahead

Feb 12, 2014

Uruguayan President Jose Mujica announced Thursday that the massive$3 billion Valentines open-pit iron ore mine project will go ahead,despite increasing local opposition. The project,which is also known as Aratarí,was proposed by ...

Tags: Iron Ore Mine, Mine, iron

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