The Canadian government has given the green light to a huge iron ore mine in Nunavut, a territory in northern Canada, even as other iron majors pull back on capex or delay expansions due to economic uncertainty and the softening price of the steelmaking commodity.
Iron – Reuters reported Rio Tinto (ASX:RIO,LSE:RIO) and BHP Billiton (ASX:BHP,LSE:BLT) had record quarterly iron ore shipments.
Iron – Reuters Africa reports Australian mining company Sundance Resources (ASX:SDL) will spend $600 million to develop its iron ore mine in the Congo Republic.
Iron – Global Times.com reports that China's first Iron Ore mine has been discovered by Qinghai Provincial Bureau of Nonferrous Metal and Geological Exploration.
Iron Investing News reports China is set to push forward investments in iron ore projects in Australia. “The opportunities for Chinese groups to come in and facilitate development of some of the smaller players are definitely going to start picking up pace,” said Eric Lilford, head of Australia mining at Deloitte Corporate Finance. For complete story, click [...]
Iron Investing News reports iron market moving towards a gloomy start. “We need to recognise the fundamentals of the market. The market would show that it does need a downward adjustment this year,” said Sam Walsh, head of Rio’s iron ore division. But given the potential for a recovery in industrial demand at some stage [...]
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