Iron flux has funds reviewing Vale bets after $50 billion rout

It's mulling options to develop the giant iron ore deposit in Guinea, which almost sold last year to its partner in the project Chinalco.

The temporary decree effectively removes any involvement of the National Indigenous Affairs agency (FUNAI) in reserves demarcation.

“One of the things we really like in the mining sector at the moment is that large companies like Fortescue are returning cash to shareholders, and not investing in new capacity"

It now expects to produce between 320 and 330 million tonnes of the steel making ingredient in 2019, down from a previous guidance of 333 to 343 million tonnes.

Wet processing at Brucutu was suspended in early February at the request of local prosecutors following the tailings dam disaster at Brumadinho, which left 243 dead.

The anti-dumping tax on some colour coated steel products from China will be 3.45%-34.27%, effective from Tuesday.

The new railway would stretch for 400 kilometers (248.5 miles) from the current Carajas railroad to Vila do Conde port.

China’s iron ore futures clawed back on Tuesday, after a brief dip in early trade, despite mounting concerns over waning demand at mills.

Top iron ore miner Vale SA expects to soon restore 20 million tonnes of yearly capacity at its Brucutu mine in Brazil, according to analysts.