Iron Ore Top Stories

Iron ore market keeps getting uglier — prices at lowest since November

The commodity is now trading below $70 a tonne and…

BHP Billiton to escalate defence from Elliott with Goldman’s help

Analysts expect BHP to argue that a demerged petroleum business…

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General Director of MMC Norilsk Nickel meets South African President

Vladimir Strzhalkovsky, the General Director and Chairman of the Management Board of MMC Norilsk Nickel (the Company) met with the President of the Republic of South Africa Jakob Zuma in RSA. The meeting was held as part of the General Director's business visit to the Republic of South Africa. The parties discussed further development of the Company's projects in RSA.

Vale’s future depends on execution of capex spending plan – Morgan Stanley

The ability of mining giant Vale (VALE.N: Quote) to execute on its capital spending plans will be paramount for its stock to rise, according to a Morgan Stanley report on Monday. Analysts Carlos de Alba and Bruno Montanari said that Peru's Bayovar, Vale's first greenfield project outside Brazil, "offers a good example that the company can deliver."

Brazilian media reports Vale CEO ousted

Brazilian mining company Vale has pushed out Chief Executive Roger Agnelli under heavy government pressure and is in discussions to replace him with an executive from within, local media reported on Sunday. President Dilma Rousseff has used the government's influence as a key Vale (VALE5.SA: Quote) shareholder to insist the company remove Agnelli following years of accusations it was not doing enough to bolster Brazil's economic development.

Expect billion-dollar expansion in Australian iron ore, coal: BHP

Diversified mining behemoth BHP Billiton is expected to pour billions of dollars into Australia in an effort to expand its iron ore and coal facilities, says a report from AFP: Mining giant BHP Billiton said Friday it would pour billions of dollars into expanding its coal and iron ore operations in Australia, key commodities that are driving the boom in Asian economies.

Ausenco wins $15 million Sierra Leone iron ore operations contract

Ausenco has been awarded a $15 million operations and maintenance service contract for the Tonkolili iron ore project in Sierra Leone. The Optimise phase contract involves the provision of operations and maintenance services to two onsite mobile crushing and screening modules for phase 1A of the Iron Ore Project. The contract commences immediately and runs until July 2012, providing an additional boost to Program Management’s growing recurring revenue base.