martes, 26 de septiembre de 2017

Anglo’s plan to further expand vast iron ore mine in Brazil hits roadblock

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Iron Ore News Digest
Wednesday 27 September 2017
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Public prosecutor for the state of Minas Gerais, where the iron ore mine is located, ordered the company to reschedule two public meetings as it had failed to inform of it to all communities potentially affected by the planned expansion.

It would have opened up for mining a vast national reserve in the country's Amazon, larger than the size of Switzerland.

China is expected to slash in half the rate of steel production in Tangshan, a city in the north-east that produces 11 per cent of the country's total output

Jeremy Corbyn, whose Labour Party came second in the 2017 UK general election, has reached out to communities hit hard by the downtown in the coal and steel industries.

The commodity has fallen every week so far in September.

He intends to buy as much as 1.5 billion pounds (about$2 billion) worth of additional Anglo American shares.

Now Australia's central bank wades into debate about the direction of the iron ore price.

Investors will decide next month whether the company should quit the Minerals Council of Australia due to conflicting views on climate change and energy policy.

Chinese steelmakers are producing at record rates before mandated cuts in winter which could result in a steep drop-off in iron ore demand later this year.

He joined the company's board in September 2011 and was appointed chief financial officer in April 2013.

Is the industrial metals and steelmaking raw materials rally at en end?

South Africa holds the world's biggest reserves of platinum, chrome and manganese, but investment in the sector has dropped in each of the past two years as a result of increasing legal uncertainty and labour disputes.

The Green Party wants to create New Zealand's largest marine mammal sanctuary in order to stop extractive activities in the South Taranaki Bight

Silvergrass adds 10 million tonnes of iron ore to the market as price stabilizes in the mid-$70s.

Federal judge Rolando Spanholo said opening the area known as Renca to mining can only be done by an act of Congress under the constitution.

The miner, South Africa's largest gold producer, said that in the absence of a dividend, it'll give investors two new shares for every 100 held.

The region, preserved as a national reserve for more than three decades, is thought to be rich in gold, iron ore, copper and other minerals.

Prices for the steelmaking material have increased almost 50% since its 2017 lows.

Another big day on Chinese futures markets as seaborne iron ore prices approach $80 a tonne.

A committee of six ministers pointed to numerous flaws with the project, including severe impact to a Humboldt penguin reserve.

Experts and mining companies fear some of the modifications that go in effect in November, will result in hefty taxes, higher research costs and decrease interest from foreign investors.

Jumps 5.6%.

The Mineracao Rio do Norte (MRN) bauxite mine is experiencing problems with its tailing systems due to a water shortage caused by dry weather.

Companies have reached agreement for the expansion of Cat® Command for Hauling at Fortescue's iron ore mines in the Pilbara region of Western Australia.

As always when prices start to decline after a surge that appeared unrelated to supply-demand fundamentals, the question is will the reverse become a rout and where exactly does fair value lie?

North Korea may not have proved petroleum reserves, but it's estimated that the secluded belligerent nation sits on reserves of more than 200 minerals—including rare earth minerals—worth an estimated up to US$10 trillion.

Brings the total to $4 billion for the year.

BHP Billiton Foundation announced Tuesday its financial support for two new global projects launched at an event held in Washington DC.

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