Vale adds to iron ore supply glut — second highest ever quarterly output
The world’s largest iron ore producer continued to flood the market despite a current oversupply that has sent prices for the commodity plummeting to historic lows.
Ivanhoe says DRC mine's first 3.8mtpa concentrator is now fully operational and pre-production ore stockpiles reach 3.4m tonnes grading average 4.78% copper.
A jump in demand for traditional lead-acid car batteries and lingering freight problems have created shortages that have been felt most acutely in the huge US automotive sector.
Company approved the final construction and development of its cobalt operations in the US state of Idaho, with the first production expected in mid-2022.