Iron ore’s slump likely to deepen until China’s economy revives
China’s steel industry has been warning of a crisis since the summer, and the third quarter saw major mills turn in their first aggregate loss since at least 2018.
A 200,000-strong Brazilian claimant group failed to resurrect a 5.0 billion pound ($6.9 billion) English lawsuit against the mining giant over the Fundão dam failure.
The miner will form an Indigenous advisory group to help it better understand issues affecting Indigenous Australians, identify gaps in current protocols and re-establish trust over time.
Chinese iron ore and coke futures were dragged down by concerns over weak demand for the steelmaking ingredients, as markets eyed the possibility of further production cuts in the top steel-producing city of Tangshan.
Mining profits reach $230 billion a year, topped only by oil & gas, pharma; Lithium prices continue to soar – up 88% in 2021; Massive new port could give Vale back iron ore crown.