Iron ore price stable while China prepares for ‘possible storm’

According to PwC, investors seemed unimpressed last year, as market valuations fell 18%.

Billionaire Beny Steinmetz’s mining company has sought bankruptcy protection in the US, two months after losing a $2 billion arbitration award to Brazilian mining giant Vale.

Two ministers met with captains from the Indigenous tribe, however, activists say their complaints against the environmental and social impacts of the Orinoco Mining Arc tend to fall on deaf ears.

While geopolitical concerns have been the prime driver for most commodity markets recently, iron ore has been a standout, trading largely on traditional fundamentals.

Unable to get funding from lenders like the IMF since defaulting on its debt in 1999, Zimbabwe has over the last five years relied on the African Export and Import Bank for mineral-backed loans

The new government intends to look into establishing a mining tax and analyzing the possibility of taxing capital gains from the sale of mining rights.

Inmarsat has committed to providing the state government with a smart monitoring solution which is based on IoT and satellite technology.

Vale said the Sul Superior dam, located just 1.5 km from the mine, remains intact and that it continues to be monitored 24/7 via radar, drones and a robotic station capable of detecting the slightest movements.

Vale said risk of a new dam break as a consequence of an unstable embankment at Gongo Soco open pit, in the southeastern state of Minas Gerais, are now minimal.