Iron ore soars as Vale ordered to shut down mines

FTSE 100 reweighting to take place in March.

The company is said to be wanting to offload its Barro Alto nickel mine and the vast Minas-Rio iron ore complex.

More than 200 delegates from the mining, renewable energy and finance sectors attended this event.

Iron ore prices, traditionally influenced primarily by demand and supply factors in the physical market, are showing signs of becoming “financialised” as paper trading increasingly plays a part in driving prices.

BHP Billiton began evacuating workers from its Port Hedland export facilities early Friday.

Quoting levels "very low" and machines already sold are not being put into service by mining companies.

Ruling puts and end to dispute dating back to 2013.

The besieged miner plans to lower costs at its iron ore mines after boosting total annual output for the steelmaking ingredient.

New warnings about impact of super-concentrated supply of steelmaking raw material.