martes, 27 de febrero de 2018

Iron ore price jumps to 10-month high

Having trouble viewing this email?  View online
MINING.com - your source for global mining news
Iron Ore News Digest
Wednesday 28 February 2018
Home    Coal    Copper    Iron Ore    Nickel    Rare Earth    Oil Sands    Uranium    Zinc

China's war on smog benefitting exporters of high-quality ore as domestic steelmaking output cuts are extended.

2017-2018 shipment volume and cost guidance was set last August in 9 million-10 million wet tonnes.

Very few of the 150 companies who expressed interest in investing in the Mining Arc actually presented concrete offers.

CHART: Baltic Dry Index has plummeted 32% since December, opening up huge gap to closely correlated industrial metal prices.

Company became the latest top miner to report soaring profits, hefty dividends and lighter debt burden.

That's considering the combined rankings of all its provinces and territories, but Finland is the most attractive jurisdiction this year.

The New-York based fund argues an overhaul could add more than $22 billion in value for shareholders and wants BHP to conduct an independent study.

New report says "deals in lithium, copper and cobalt are expected to feature high on the agenda of management teams across the industry."

Output of the steelmaking material reached 366.5 million tonnes last year, boosted by record high productionat Vale's northern system, which composed of its Carajás, Serra Leste and the massive S11D mine.

Top listed copper producer Freeport jumped 7.4% and with Vale – up 6% – was among the NYSE's top 10 most actively traded stocks.

Charge is due to due to cuts in the US Federal corporate income tax rate, the world's biggest mining company said.

Andes Iron appealed an August 2017 decision that forbade its copper and iron ore project from going forward.

Chinese traders chase copper concentrate and iron ore cargoes lifting January import volumes 25% and 19% over already record-breaking 2017.

Company's shares fell as much as 5.5% on the news that the Indian Supreme Court had cancelled all the 88 existing iron ore mining licences in the Indian coastal state of Goa.

South African competition authorities have approved the exchange of selected Sibanye-Stillwater's assets for a 38% stake in DRDGOLD Ltd.

Mining giant posts 90% increase in profit amid what CEO Jean-Sébastien Jacques calls "resilient" commodity prices.

Australasian Centre for Corporate Responsibility says it needs 100 shareholders to co-file resolution at Rio's upcoming annual general meeting.

The National Union of Metalworkers of South Africa (Numsa) is demanding that Beatrix gold mine remains closed pending a probe and has asked the South African government to investigate why the operation apparently didn't have a backup generator.

"The environment for investing in commodities is the best since 2004-2008" – Goldman Sachs

They also claim miner offloaded the asset to avoid paying for environmental damage caused by an accident at its floating dock, which killed six people and dragged vehicles, equipment and large amounts of iron ore into the Amazon River.

Originally there were more than 1,000 miners stuck underground, but sixty-four were rescued overnight.

Consulting firm Deloitte has published what it says will be the top-10 global trends in the mining industry this year.

The UK-based research and consultancy group has dropped its price forecast to $63 a tonne or 12% below last year's average of $71 per tonne.

The miner's autonomous haulage system (AHS) fleet has already moved over one billion tonnes of ore and waste material within the Pilbara region of Western Australia.

"We have not seen this kind of growth since before the global financial crisis."

Anglo American's Minas Rio iron ore mine in Minas Gerais state has nameplate capacity of 26.5m tonnes per year.

The company beat expectations on Thursday with a 5% increase in 2017 production.

The world's largest mining and construction equipment maker beat market expectations for fourth quarter earnings and said its sales growth momentum is expected to continue in 2018.

Receiving the necessary licences would allow the company to continue operating in the state of Minas Gerais, where the iron ore mine is located, for at least another 15 years.

Vale said in a securities filing that net income totaled $771 million, compared with an average consensus estimate of $2.537 billion.

Some platinum stocks are looking attractive again as oversupply that depressed prices for years subsides.

The mining industry is awash with cash, and so far it's got two main uses — pay down debt and reward investors.

Fortescue Metals was hit by weak prices for its lower quality iron ore, and said it remains focused on cutting costs, including lining up cheaper debt.

Base metals should continue to do well in 2018 along with the US steel industry, though American coal will continue to lose ground to natural gas. 

Data shows that two years after the worst of the raw materials slump is over, investors are still not ready to pour in fresh funds despite a price rally.

The unit of Anglo American said reversal, net of tax and non-controlling interest, was 2.6 billion rand and would be included in its basic earnings.

A funding proposal for a rail line that could carry its coal to the coast for export has been canned.

Trade data from AUS Bureau of Statistics has confirmed importance of the mining industry to Australian economy and continuing benefits of the mining boom.

This agreement will provide QIO with maximum availability of equipment to meet production targets for the Bloom Lake Iron Mine located near Fermont, Quebec.

Anglo raised the possibility it could start buying assets in SA, the latest sign of how much has changed in two years, when the miner was focused on selling.

Mining and metal companies are rediscovering the downside of rallying prices: higher costs.

Zimbabwe plans to take on about $500 million of debt owed by state-owned steelmaker Zimbabwe Iron and Steel Company to allow company revival.

Speaking at an event in São Paulo, Schvartsman also said the recent rise in nickel prices should generate an additional $750 million in cash flow.

The iron ore producer said shipments fell to 40.5m tonnes in the three months ended Dec. 31 versus 42.2m tonnes in the same period a year ago.

Indian commodities billionaire said the rally in Anglo American Plc vindicated his personal bet in the mining group.

1 Month Gold Price
1 Year Iron Ore Pellets Price
Find MINING.com on Facebook
Follow MINING.com on Twitter
Subscribe to the RSS Feed
Home    Coal    Copper    Iron Ore    Nickel    Rare Earth    Oil Sands    Uranium    Zinc
This email was sent to you by InfoMine Inc. Suite 900, 580 Hornby Street, Vancouver, BC, Canada V6C 3B6 | +1 604 683 2037 |[email protected].Please visit cem.infomine.com for more information. Copyright InfoMine.
You are receiving this email because the email address fernandoqueens@gmail.com was subscribed to the MINING.com email list "MINING.com Iron Ore News Digest". You mayunsubscribe at any time.
The information contained in “Iron Ore News Digest” is collected from a variety of sources on a “best intentions”basis. InfoMine Inc. makes no representation or offers no warranty with respect to the adequacy of the information for any particular purpose.Any information presented in “Iron Ore News Digest” is not a solicitation to purchase or acquire any securities.Use of this service is an acceptance of this disclaimer. Visit our web site to read ourcomplete disclaimer.

No hay comentarios:

Publicar un comentario

You have been invited to contribute to La Tota Tv

Hello, The purpose of this message is to inform you that La Tota TV has invited you to contribute to their blog "La Tota Tv"...