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The Latest Breaking News from iron ore

Beijing forms organisation in bid to give Chinese steel producers more leverage over Australian iron ore prices

China's government has established a new minerals giant that will purchase iron ore from abroad on behalf of Chinese steel producers — a move seen as an attempt to gain long-term leverage in price negotiations with Australian exporters.

ABC News

Gorumahisani, India’s first iron ore mine township is a picture of neglect despite 100 years of mining

About 20 km from Rairangpur lies Gorumahisani, India’s first iron ore mine, and widely dubbed as ‘mother mine’ for empire of Tata Steel that has grown to a global steel behemoth having crude steel capacity of 34 million tonnes per annum

The Hindu

Thermal coal above $US400 a tonne as prices of iron ore and other commodities fall

Record thermal coal prices defy falls in other commodities

Newcastle Herald

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ASX tumbles as iron ore prices slump, and Rio Tinto warns of economic hit from Ukraine war and China slowdown

The Australian share market lost ground weighed down by heavyweight miners after iron ore prices tumbled. Rising business inflation and lower profits at big Wall Street banks weighed down US stocks.

ABC News

In Topsy-Turvy Commodity Trades, Small Ships Outperform Big Ships

You pay more to get more. Renting a four-bedroom townhouse is far more expensive than renting a studio apartment. The nightly rate for a penthouse suite is much higher than for a standard room.

Benzinga

Vietnam's biggest steelmaker set to import iron ore from its new mine in the Northern Territory

Hoa Phat Group is keen to buy other mines to meet the needs of its steel mills in Vietnam.

ABC News

Morgan Stanley Maintains Equal-Weight Rating for Vale: Here's What You Need To Know

Morgan Stanley has decided to maintain its Equal-Weight rating of Vale (NYSE:VALE) and lower its price target from $22.00 to $16.00. Shares of Vale are trading down 2.14% over the last 24 hours, at $14.17 per share. A move to $16.00 would account for a 12.91% increase from the current…

Benzinga

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‘Horrific’ sexual abuses uncovered in Australia mining probe

A landmark inquiry into Australia’s mining sector has uncovered dozens of shocking cases of sexual harassment and abuse of women workers at companies including BHP Group and Rio Tinto Group.

Bangkok Post

Russia threatens ‘serious consequences’ as Lithuania blocks rail goods

Row escalates over Vilnius’s refusal to allow steel and iron ore to cross Russian exclave of Kaliningrad

The Guardian - UK

Guinea gives Simandou iron ore mine developers 14-day deadline

Partners in Guinea's Simandou iron ore mine have 14 days to finalise a joint venture, interim president Mamady Doumbouya said at a meeting with the miners, Rio Tinto and Chinese-backed Winning Consortium Simandou (WCS) on Friday.

Reuters

Odisha at cusp of economic revolution: PwC India head

FICCI Odisha State Council chairperson Ranjan Naik said the State was transitioning from an economy of iron ore to steel, and coal, bauxite to aluminium with a host of value-added products.

The Hindu

FIMI opposes govt. curbs on movement of iron ore

Bengaluru

The Hindu

China to set up centralised iron ore buyer to counter Australia’s dominance

Beijing hopes bulk purchases will secure lower prices for steel sector that is world’s biggest ore consumer

Financial Times

Onslow says no to iron ore export, fears dust pollution, heavy traffic will ruin pristine WA coastal town

This Pilbara town is pushing back against plans to export iron ore from the local port amid fears heavy traffic and dust pollution will damage the local tourism industry and lifestyle.

ABC News

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Caixin Global

China Pushes Ahead With Plan to Cut Reliance on Iron Ore Imports

Government aims to accelerate construction of domestic projects to slash imports over next decades

ABC News

ASX dragged down by tech, banks and telecommunications

Australian shares close lower on Tuesday, after the majority of sectors dragged on the ASX 200.

ABC News

Banned traders warn Labor government, all industries against reliance on China

Australia has never before relied so much on China for its trading wealth. However, as the devastated rock lobster industry can attest, the Asian giant can lose its appetite overnight.

The Hindu

Karnataka mining: SC permits firms to export excavated iron ores

It also permitted mining firms to enter into direct contracts to lift excavated iron ore through inter-state sales

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Daily Mirror

Mystery as river turns orange and kills wildlife becoming 'ecological disaster'

Slovakian authorities have confirmed they are taking steps to reduce the amount of polluted water stemming from an iron ore mine which is leaking and devastating fish

Reuters

Slovakia scrambles to stem polluted water that turned Slana River orange

Polluted water flowing from an iron ore mine in eastern Slovakia has turned the Slana River orange, killing fish and wildlife on a long stretch before it reaches Hungary in what is fast developing into an ecological disaster.

Salon

The race to produce green steel

In order to reduce its carbon footprint, the steel industry is testing new tech that don’t rely on fossil fuels

The Guardian - US

Rejection of Arctic mine expansion bid offers hope for narwhal population

Conservationists and Inuit community relieved at decision on Canadian iron mine that threatened ‘extirpation’ of cetacean

ABC News

Iron ore profits likely to remain 'significant' despite anticipated price volatility, wider China lockdown

Australia's highly profitable iron ore sector is expected to ride out market volatility as fears of additional COVID-19 lockdowns in China see a 10 per cent price drop to start the week.

Caixin Global

China’s Iron Ore and Rebar Futures Plummet on Weakening Demand

Government’s decision to reduce crude steel output cuts into iron ore prices, while Covid disruptions weigh on steel

The Guardian - UK

‘Green industry wants to take our land’: the Arctic paradox

Sweden’s ‘green transformation’ promises to help Europe fight the climate crisis. So why is it uniting radical environmentalists, ecologists and Sami reindeer herders in protest?

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