Iron ore price falls as China’s Yunnan province orders steel output curbs

The world's fourth-largest iron ore miner said it shipped 49.5Mt of the steel-making ingredient in the quarter ended June 30.

Rio Tinto said it’s close to a breakthrough in a landmark deal to unlock the world’s biggest untapped iron ore mine.

China’s imports of key commodities face some mighty headwinds in the second half.

Rio Tinto reported a 29% drop in first-half profit and more than halved its dividend on Wednesday.

Goldman cut its three and six-month price targets to $70 and $85 a tonne, respectively, from $90 and $110 a tonne.

A persistent downward trend in iron-ore prices is expected to weigh significantly on the earnings of top Australian miners.

First-half production at Kumba's two mines declined 13% to 17.8 million tonnes, largely due to heavy rains.

Over a 21-year mine life, Mont Sorcier's annual production target is set at 5Mt of high-grade, low-impurity iron concentrate grading 65% iron with 0.52% V2O5 per tonne.

China has embarked on one of the biggest shake-ups of the global iron-ore market in more than a decade.