Iron Ore Top Stories

UNEP urges mining companies to better manage tailings facilities

The agency is urging mining companies to put safety first…

BHP expects China’s growth to ease modestly over short term

"[W]e expect growth in China to ease modestly over the…

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Chinese miners plunge as reverse-listing contagion spreads

Iron, zinc and coal miner China Natural Resources shed 20% of its value on the Nasdaq stock exchange in morning trade on Monday in the absence of any fresh news about its operations while China Shen Zou Mining lost over 8%, the worst performers in the sector. Investors are continuing to worry about the soundness of Chinese companies that came to the US market through so-called reverse listings with the value of the 98 companies declining sharply in recent weeks as creative accounting and other irregularities are uncovered at firms engaging in operations as diverse as software and timber.

The Australian: Rio Tinto racing ahead at Simandou project in West Africa

Rio Tinto's $US10 billion-plus Simandou iron ore project in Guinea is rapidly pressing ahead, but not like a typical giant development by the Anglo-Australian mining giant. By the end of the year, Rio is expected to have spent close to $US2bn ($1.9bn) on Simandou, including a $US700 million settlement payment to the government, and to begin construction of a project it has committed to produce from in 2015.

Gina Rinehart and Angela Bennett suing Rio Tinto for $136m

Two of the world's richest women are seeking another $136 million by suing Rio Tinto. According to a story in The Daily Telegraph, Gina Reinhart and Angela Bennett, who are heirs to the Hancock and Wright iron ore fortunes, are suing mining giant Rio Tinto over the rights to iron ore beneath as much as 150 square kilometres of the Pilbara iron ore region of Western Australia: The lawsuit in the NSW Supreme Court is seeking an estimated $136 million in past royalties dating back two decades. If successful, the legal bid could also reap the descendants of Hancock and Wright a further $25 million each year in royalties, even assuming the iron ore price halves by 2016.

allmineral booms in iron ore: contracts still rolling in from Australia

allmineral has been awarded three independent contracts to supply its mineral processing products and equipment to the Rio Tinto Low Grade Iron Ore Pilot Plant.  The pilot plant, which will be located at the Brockman 4 mine site in Western Australia, 60km north west of Tom Price, will play a strategic part in the optimisation of beneficiation options for future Pilbara lower grade deposits.

China sticks to ban on favourable power tariffs for energy-intensive sectors

China's top economic planner on Thursday reiterated a ban on favourable power tariffs for power-intensive sectors as the world's second-largest electricity consumer struggles to deal with its worst power crisis in seven years. Last year, the National Development and Reform Commission (NDRC) asked local governments and power suppliers to cancel favourable power prices for aluminium, ferroalloy and calcium carbide makers, and said preferential power rates for direct trade between power generators and power users but without approval must be halted.

Cap-Ex Ventures: airborne identifies high priority DSO targets at Lac Connelly

Cap-Ex Ventures announced it has received and interpreted the preliminary data from the recently completed Airborne FALCON Gravity Gradiometer and High Sensitivity Magnetometer survey, conducted by Fugro Airborne Surveys Corp. The survey was conducted over the Company's wholly owned Lac Connelly property located in the Labrador Trough.

Iron Road Limited (ASX:IRD) Raises A$21M to Advance Central Eyre

Iron Road Limited (ASX:IRD) is pleased to announce it has successfully raised A$21.6 million to further advance the Central Eyre Iron Project following the recently completed positive prefeasibility study. "The funds raised today will allow us to continue our aggressive resource drilling campaign and deliver additional large tonnages into the project. We are currently drilling the Murphy South western extension and PIRSA have this week approved drilling over the Murphy South eastern extension. This work will further enhance our position as we continue our partnership discussions.

Vale reroutes world’s biggest dry-bulk carrier bound for China to Italy

Brazilian mining giant Vale said on Tuesday it rerouted 391,000 tonnes of iron ore, its first cargo aboard a new class of giant bulk carriers, to Italy from its original destination of China. The cargo is being shipped aboard the Vale Brasil, the world's largest dry-bulk vessel, a ship designed to reduce the cost of shipping the main steel ingredient to China. Despite the rerouting Vale said the so-called Valemax carriers will be able to enter three Chinese ports.

Iron ore miner battles with Brazil project amid takeover talk

Dow Jones reports a Khazakhstan mining and metals group says it's forging ahead with plans to build a $2 billion iron ore mine in northeast Brazil despite major logistical and environmental obstacles, while speculation about a takeover-bid swirls. The Pedra de Ferro iron ore project is already four years behind schedule, and the company may miss the 2014 start-up date as it is still waiting for environmental licenses to build a port from which to ship the iron ore, and for Brazil's federal government to build a railroad.