Category: Iron Ore

China iron ore futures hit lowest in March so far on steel curbs

Steelmaking raw materials fell in China on Monday, with the benchmark iron ore contract hitting its lowest for this month so far and coke extending its losses into a fifth session, as demand waned amid restrictions on steel production. The...

/ March 12, 2019

Vale fired inspection firm that failed to certify dam: prosecutors

Brazilian iron ore miner Vale fired an inspection firm because the company refused to certify one of its dams as safe, months before the barrier collapsed and killed hundreds, prosecutors said in a document filed this week, as they explained...

/ March 10, 2019

Brazil's Vale removes executives after request by dam burst prosecutors

SAO PAULO – Brazilian mining company Vale SA said on Friday it has formally removed some executives from their positions after a request by Brazilian prosecutors investigating a dam burst that killed hundreds of people. Vale did not identify the...

/ March 9, 2019

Brazil minister calls Vale 'important' even as prosecutors probe miner

Brazil’s mining minister on Tuesday defended iron ore miner Vale SA as vital to the country’s economy, even after prosecutors accused the company of pressuring auditors to suppress evidence that its Brumadinho dam was unstable, months before the dam collapsed...

/ March 8, 2019

Rio Tinto's shares take hit after two analyst downgrades

Iron ore mining giant Rio Tinto’s (LON: RIO) shares dropped more than 7% on the London Stock Exchange Thursday, following two consecutive analyst downgrades. On Wednesday, Swiss bank UBS  lowered its Buy rating for Rio Tinto to Neutral, citing a possible...

/ March 8, 2019

ArcelorMittal reaches railway deal, resumes output at Bosnia mine

ArcelorMittal has agreed to a provisional transportation deal with a Bosnian regional railway company, the steelmaker said on Wednesday, allowing production to resume at its iron ore mines in northwestern Bosnia. Production at the mine was halted after talks on...

/ March 7, 2019

Global Mineral Professionals Alliance launches tailings initiative

The Global Mineral Professionals Alliance announced the launching of the Global Action on Tailings initiative aimed at dealing with the challenges around mine waste, particularly tailings. The GMPA is an organization comprised of the Australasian Institute of Mining and Metallurgy;...

/ March 7, 2019

ABB launches digital portfolio to create the world’s most efficient mines

With digitalization at its heart, ABB Ability MineOptimize connects all electrification, automation and digital offerings to optimize all stages in the lifecycle – from design and build to operation and service – of any open pit or underground mine and...

/ March 6, 2019

Never a bad day at the office for Anglo American execs

Anglo American’s annual report released this week takes great pains to set out the mining giant’s policies around director’s responsibilities and incentives. After an outcry over a generous long-term incentive plan for execs in the form of stock grants in...

/ March 5, 2019

Investors spooked by Brazilian Vale's surprise CEO shake-up

Rio de Janeiro/Sao Paulo – Investors were skeptical on Sunday about the surprise decision by Brazil’s Vale SA to remove its high-profile chief executive in the wake of a deadly January accident at one of the world’s largest iron ore...

/ March 5, 2019

Vale's CEO, other execs, to step down after Brazil dam burst

Brazilian iron ore miner Vale SA Chief Executive Fabio Schvartsman and several other senior executives resigned on Saturday in what the company described as a temporary move, after one of its mining dams burst in January, killing hundreds. Vale said...

/ March 4, 2019

Vale probe could lead to fine of 20% of revenue from 2018

Brazil’s mining authorities have started a probe into Vale SA over a possible cover-up regarding safety procedures that could lead to a fine of up to 20% of its 2018 gross revenue. The country’s mining secretary, Alexandre Vidigal de Oliveira,...

/ March 2, 2019