Iron Ore

Mauritania: Unions end strike at SNIM

  Reuters – Workers at Mauritania's state iron ore mining company SNIM have ended a two-month strike after reaching a deal with management on salaries, a union negotiator said on Friday. After four days of negotiations mediated by the mayor of the northeastern mining hub of Zouerate, where SNIM's mine ...

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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 ...

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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 ...

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Iron-ore extends losing streak as spot hits $49 1ST

Reuters – Spot iron-ore prices tumbled below $50/t on Wednesday while Chinese iron-ore futures dropped a sixth straight session to a contract low on persistent worries that output cuts at steel mills would eat into demand for the raw material. Sluggish steel consumption and soaring environmental costs have combined to force ...

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Tata Steel’s Canadian Joint Venture Acquires Howse Iron Ore Deposit

  NDTV – Tata Steel today said its joint venture Tata Steel Minerals Canada has acquired the remaining 49 per cent stake in the Howse iron ore deposit in Canada for close to Rs 25 crore. Tata Steel Minerals Canada Limited (TSMC), through its subsidiary Howse Minerals Limited today acquired the ...

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US Steel to temporarily idle Minnesota ore operations

  Mining Technology –  United States Steel (US Steel) has announced plans to scale-down production and temporarily idle a portion of its Minnesota Ore Operations – Minntac plant in Mountain Iron, Minnesota. According to local union officials, this will come into effect from 1 June, resulting in job losses for ...

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China’s iron ore stocks dwindle as price fall scares off buyers

Reuters – Stocks of imported iron ore at ports in China, the world's biggest consumer, have stuck at or below the 100 million tonne mark since the start of the year. They look set to fall further as a protracted price slump drives away buyers. Inventories of the steelmaking raw ...

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Solb Misr to pump $US 200m in investments

  DailyNewsEgypt – Gamal El-Garhy, chairman of Solb Misr Company, said his company plans to pump approximately EGP 1.6bn, or $200m, in investments during the coming period. “We have some investments that we are currently developing,” he said, adding that the investment plan will last till 2017. The company is ...

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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 ...

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India: Iron ore, bauxite mines to be allocated through auction: Government

EconomicTimes – Mines of as many as 10 minerals including iron ore and bauxite will be auctioned for the first time under simplified and transparent rules to attract investment in the sector, Mines Minister Narendra Singh Tomar said today.  With Parliament approving the Mines and Minerals (Development and Regulation) Amendment ...

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