Vale sees 10% of its iron ore production coming from tailings by 2030
Brazilian miner Vale expects that by 2030 some 10% of its iron ore output will come from the reuse of mine waste known as tailings, an executive told Reuters, reducing the amount of potentially dangerous material still stored in dams.
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Iron ore price soars to over one-week high on upbeat seasonal demand outlook
Iron ore futures prices surged on Thursday to hit their highest in more than a week, as prospects of improved seasonal demand in China outweighed concerns over the top consumer’s economic recovery.
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China has more than 1 billion t/y of new coal mines in pipeline
China accounts for more than half of the world’s pipeline of new coal mines, risking a significant increase in methane emissions, a new study published on Tuesday showed.
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Coal India to spend $8 billion on coal-fired plants near mines
Coal India Ltd. is planning to invest about 670 billion rupees ($8 billion) to build coal-fired power plants close to its mines, signaling the fast-growing economy will remain reliant on the fossil fuel for decades to come.
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Nippon Steel seeks to address concerns on US Steel deal
Nippon Steel told US government officials it had proposed adopting a binding national security agreement to address Biden administration concerns about its proposed $14.9 billion acquisition of US Steel, according to a letter seen by Reuters.
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Liberia conditionally lifts shutdown order on China Union’s iron ore mines
Liberia conditionally lifted a shutdown order on China Union’s iron ore Bong Mines, the government said in a statement on Wednesday.
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Visit: 45
Trafigura strikes $400 million cash-for-iron ore deal With MinRes
Trafigura Group has struck a $400 million prepayment deal for iron ore with Mineral Resources Ltd., as the Australian miner focuses on preserving cash amid a downturn in its two main commodities.
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Poland seeks to rethink, not quash coal spin-offs, minister says
Poland is seeking to amend plans for utilities to spin off their coal assets, according to the minister in charge of managing state assets.
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Visit: 41
Kumba to invest further $428 million in iron ore processing plant upgrade
South Africa’s Kumba Iron Ore will invest an additional 7.6 billion rand ($428 million) in processing technology that will treble premium quality production at its Sishen mine, it said on Thursday.
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Nippon Steel boosts M&A case with $1.3 billion spend at US mills
Nippon Steel Corp. announced $1.3 billion in investments at US mills owned by United States Steel Corp. as the Japanese company steps up efforts to win over workers and politicians for its bid to buy the Pittsburgh-based steelmaker.
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Vale’s new CEO to focus on boosting iron ore despite weak demand
Vale SA’s next chief executive officer has been tasked with maximizing iron ore output to boost efficiencies at the Brazilian mining giant despite China’s fading appetite for the steelmaking ingredient.
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Fortescue beats dividend payout view
Australia’s Fortescue reported a rise in annual profit on Wednesday, boosted by higher iron ore shipments from its Iron Bridge project, and announced a larger-than-expected final dividend, sending its shares higher.
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Visit: 41
Polish miner gets renewable reality check in record write-off
Poland’s most profitable coal producer Lubelski Wegiel Bogdanka SA said it was forced to write off $305 million from the value of its assets as wind and solar power are pushing the dirty fuel out of the market.
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Iron ore price rebounds past $100 after Chinese stockpiles shrink
Iron ore extended a rebound with China’s massive inventories of the steelmaking staple continuing to drop, a tentative sign that a period of severe oversupply is starting to ease.
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Samarco expects to reach 60% of output capacity by year-end
Brazilian miner Samarco expects to reach 60% of its output capacity by the end of 2024, bringing forward a previous timeline, as it continues to resume activities after halting operations due to a deadly 2015 tailings dam collapse.
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Arch merges with Consol Energy to create US coal export powerhouse
US coal producer Arch Resources Inc. agreed to merge with rival Consol Energy Inc. in a $2.3 billion deal aimed at creating a North American mining heavyweight to deliver the fuel around the world.
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Coal-rich Indian state to pass mining tax after court ruling
The Indian state of Jharkhand has passed a bill imposing mining taxes, according to people familiar with the matter, a move that’s set to inflate the prices of minerals from coal to bauxite.
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Visit: 67
Thungela may consider steelmaking coal in hunt for new assets
South Africa’s Thungela Resources is still searching for new mines to buy and may consider acquiring coking coal assets if it finds a good fit, CEO July Ndlovu said on Monday.
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Whitehaven Coal to cut 192 jobs at mines purchased from BHP
Australia’s Whitehaven will cut 192 jobs at the Daunia and Blackwater coking coal mines it took over from global miner BHP Group, its spokesperson told Reuters on Friday, adding to a slew of roles lost in the resources sector this year.
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Whitehaven Coal to cut 192 jobs at mines purchased from BHP
Australia’s Whitehaven will cut 192 jobs at the Daunia and Blackwater coking coal mines it took over from global miner BHP Group, its spokesperson told Reuters on Friday, adding to a slew of roles lost in the resources sector this year.
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Iron ore price hits over 14-month low on weak China property data
Iron ore futures prices extended their declines to a fourth straight session on Thursday, hitting their lowest level in more than 14 months, as persistently weak property data in top consumer China exacerbated pessimism over the demand outlook.
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UK provides $17.3 million to protect Tata Steel’s Port Talbot workers
Britain will grant 13.5 million pounds ($17.31 million) in funding to support Tata Steel’s workers and supply chain businesses at Port Talbot in South Wales facing job losses, the government said on Thursday.
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A $91 billion trade means mining in one of the world’s hottest places
Snaking through the russet-colored expanse of Australia’s remote Outback, vast mile-long trains ferry iron ore — the nation’s most valuable export — across a crucial mining district that’s increasingly vulnerable to volatile weather and where temperatures have matched the Southern Hemisphere’s record of 50.7C (123F).
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Iron ore outlook dims as China inventories, steel output fade
The price of iron ore has dropped for a sixth consecutive week as China’s steel sector continues to struggle and port inventories of the raw material stop rising.
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Visit: 61
Iron ore miners face pay rise bid from Australian worker unions
Unions representing tens of thousands of workers in Australia’s major iron ore hub are preparing to negotiate potential wage rises with the biggest mining companies in the world, including BHP Group Ltd. and Rio Tinto Ltd.
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Visit: 45