Oceania

BHP and Rio suffer as iron ore hits 10-year low

By: Andrew Critchlow The Telegraph – Iron ore prices have hit a 10-year low, sending shock waves through the global mining industry and prompting concern among analysts that smaller producers could soon be forced out of business. The price of a tonne of ore quoted on the Quingdao China index fell ...

Read More »

Iron ore seen sliding to low $US40s in coming weeks

  Sydney Morning Herald – Iron ore, which fell below $US50 a metric tonne on Wednesday, may extend losses as weakening producer currencies cut mining costs, reducing incentives for the supply cuts needed to balance the market, according to Societe Generale. Ore with 62 per cent content at Qingdao continued ...

Read More »

Citigroup: Iron Ore Will Breach $50 on China Demand

  Bloomberg – Iron ore will slump below $50 a metric ton as steel demand in China, the world’s largest producer of the alloy, remains fundamentally weak and mining companies’ costs extend declines, according to Citigroup Inc. Chinese steel demand shrank in January and February from a year earlier, the ...

Read More »

10.1 % rise in world’s primary Aluminum production in February 2015

  ArabMetal – International Aluminium Institute (IAI) announced that the total world production of primary Aluminum up to 4.504 million tons February 2014, an increase of 10.1% compared to the production of 4.091 million tons for the same period of last year. According to production figures announced by the Institute, «Arab ...

Read More »

China slowdown and Australian dollar fell iron ore, coal to fresh lows

  Slowdown in Chinese growth and lower Australian dollar against the US dollar, pushing the iron ore and coal prices to drop more in the coming period. Reuters reported that the key Asian mining markets are being thrown into crisis by China's slowdown and industrial reforms, with coal and iron ...

Read More »

Colin Barnett: BHP, Rio Tinto corporate play «dumb»

watoday – West Australian Premier Colin Barnett* says BHP Billiton and Rio Tinto's decision to flood the iron ore market is a "dumb" corporate play. The iron ore price is at a six-year low after falling to around $US55 per tonne overnight. The price of the steel-making commodity has halved ...

Read More »

Rusal raises China aluminium exports with Australian government

Reuters – Top global aluminium producer Rusal said it has raised China's swelling aluminium exports with the Australian government, and wants the issue tabled at the next meeting of the world's top customs body. John Hannagan, chairman of Rusal Australia, and a director of the Australian Aluminium Council, said he ...

Read More »

23.5 % increase in Australia’s exports of iron ore in 2014

  ArabMetal – Australian iron ore exports have made a big jump over 2014, and went to the large share of the Chinese market. According to the Australian Bureau of Statistics data,  «Arab metals» obtained a copy of which, the Australian exports rose by 23.54%. The quantity reached 755.07 million ...

Read More »

Australia could face anticompetition probe over iron-ore

  US-based mining company Cliffs Natural Resources on Wednesday blamed Australia for a dramatic fall in ore prices and warned that its central bank may one day be called to explain anti-competitive practices. Lourenco Goncalves, president of Cliffs Natural Resources Inc, said his company was quitting the Australian iron ore ...

Read More »

BHP targets iron-ore cash costs under $20/t

  Miningweekly – Diversified major BHP Billiton’s iron-ore president Jimmy Wilson on Tuesday 10 March said that the company was looking to reduce its cash costs to below $20/t for its iron-ore product, while production improvements would be gained through little or no investment. Speaking to the Global Iron and ...

Read More »