The Canadian National Railway and the Caisse de depot pension fund manager are studying an infrastructure project for the Quebec-Labrador iron belt, which may be what Canada needs to become one the world’s major iron ore producers.
Shares of iron miner Bellzone were on the rise this morning after the company agreed to sell all of its share of output from the Forecariah mine in Guinea to commodities trading giant Glencore.
The president of the Qikiqtani Inuit Association is on a junket at the London Olympics as a guest of ArcelorMittal, which is in the final stages of getting approval for its giant iron mine on Inuit land.
India's economy is growing at its slowest pace in nine years and investor confidence has also been eroded by the current government's frequent policy u-turns, corruption scandals and power blackouts.
"A metal-making process known to the ancient Romans could be pressed into service to bring Mars into the Iron Age - and start opening the solar system to human habitation."
The latest downturn in the price comes as iron ore stockpiles at Chinese ports climb by more than 420,000 tonnes in a week to almost 100 million tonnes.
Giant miner Rio Tinto is closing down its Blair Athol coal mine in Australia as the company considers whether to limit spending on new projects next year.
Xstrata has approved a $360 million expansion for its McArthur River mine in Australia’s Northern Territory which will make the project the largest producer of zinc in the world.