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The Latest Breaking News from iron ore

Karnataka mining: Supreme Court raises annual iron ore production limit for three districts

For Chitradurga and Tumakuru districts the annual iron ore production limit was raised from 7 MMT to 15 MMT while for Ballari, the Supreme Court raised the limit from 28 MMT to 35 MMT a year

The Hindu

Outgoing Fortescue Metals boss Elizabeth Gaines says China will want Australian iron ore 'for a long time to come'

Australia's iron lady, Elizabeth Gaines, says she doesn't expect global tensions to impact iron ore demand as she prepares for her final days running Fortescue Metals Group.

ABC News

FOI documents reveal Hancock's plan to mine iron ore at asbestos-riddled Wittenoom

Documents showing Hancock Prospecting's plans for the contaminated Pilbara land reignite calls by traditional owners for the WA government to rehabilitate their country.

ABC News

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BHP surges on record FY, coy on OZ Min bid

The stellar result for BHP and shareholders comes after record iron ore sales from WA operations, and with a bid for OZ Minerals' copper and nickel in play.

AAP

ASX closes at 10-week high as BHP unveils record dividend, Tassal accepts $1.7b takeover bid

Australian shares have risen to their highest level in 10 weeks as BHP reports its second-highest profit ever, James Hardie lowers its profit forecasts due to surging inflation and Tassal accepts a $1.7 billion takeover bid from Canadian aquaculture company Cooke Inc.

ABC News

Trade surplus hits record $17.7b in June

Strong shipments of coal, iron ore and grain have helped Australia's trade surplus reach a record $17.7 billion in June.

AAP

Hancock Prospecting, Main Roads WA proposal sparks fear for Aboriginal heritage, workers on Wittenoom route

The company led by Australia's richest person, Gina Rinehart, wants to put iron ore roads and workers' camps in Western Australia's north near a national park and through asbestos-riddled Wittenoom.

ABC News

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Safety concerns on remote NT's Roper Highway, as trucks start carting 300,000 tonnes of iron ore

Remote Arnhem Land residents worry iron ore trucks are making the Roper Highway increasingly more dangerous, and causing dust pollution.

ABC News

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

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

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Benzinga

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…

Bangkok Post

‘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.

The Guardian - UK

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

Reuters

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.

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The Hindu

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

Financial Times

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

ABC News

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.

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.

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