Iron ore price up on potential easing of Tangshan restrictions
China’s state planner and market regulator on Monday looked at the spot market at the Beijing Iron Ore Trading Center and said they would closely monitor prices.
Following the news, NMDC shares fell as much as 7.4 percent to 99.20 rupees, their lowest since July 25, marking their biggest single-day fall since Aug. 9.
While the project known as S11D isn’t scheduled to hit its 90-million-ton capacity until 2020, China’s appetite for the mine’s low-cost, high-grade ore continues to grow.
Cavalcanti joins Samarco as it attempts to renegotiate billions of dollars in debt with creditors and restart operations after a tailing dam burst in 2015, killing 19 people.
In the past two years, Cat has been working on growing its offering, particularly in the underground segment, as well as filling up some gaps in terms of trucks sizes.