Iron ore price: BHP adds high-grade, lump ore for just $42 a tonne
BHP building $3.4B mine amid surging lump premiums, high-grade fines prices up 30% in a year, is latest indicator iron ore is once again a mining cash cow.
Michael Pascoe, writing for the Sydney Morning Herald, hits on a little-reported theme gleaned from remarks by BHP Billiton chairman Jac Nasser this week in Sydney.
Less than a month after officially launching its asteroid-mining plans, Google’s billionaire co-founders and filmmaker James Cameron’s owned company Planetary Resources, has already decided not to accept any more job applications.
Miner Rio Tinto has announced plans to double its mine trainee and apprenticeship programs to meet future demands in Australia, reports Australian Mining.
“Where the industry previously lacked investment opportunities and choice, it now has more projects than cash flows. All of us in the industry are having to make choices.”
Brazil's Eike Fuhrken Batista is the world of mining's richest man and he's been on a roll this year – until Tuesday when $1,023,200,000 disappeared from his personal fortune.
BHP Billiton Ltd. (NYSE:BHP) is betting on the iron ore market as one of the forces to drive the mining industry in the next decade, especially as developing nations such as China move from investment-led economic growth to consumption-led economic growth.