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Vale says recent dip in global steel prices is temporary

Vale says recent dip in global steel prices is temporary

Brazil’s Vale, the world’s largest iron ore miner, said on Thursday a recent dip in global steel prices is temporary due to overproduction in China ahead of winter output cuts. Vale Chief Executive Fabio Schvartsman told investors in...

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Rio Tinto to proceed with $2.6B iron ore mine in Western Australia

Rio Tinto to proceed with $2.6B iron ore mine in Western Australia

Nov 29 – World No. 2 iron ore miner Rio Tinto gave the long-awaited green light for a $2.6 billion iron ore mine in Western Australia, with first production expected within three years. The mine would have an annual capacity of 43 million tonnes...

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BHP to return $10.4bn in cash via buyback and dividend

BHP to return $10.4bn in cash via buyback and dividend

BHP has announced plans to buy back $5.2bn of its shares, joining the ranks of major mining groups repurchasing stock. The plan, announced on Thursday, fulfils a pledge by the Anglo-Australian company to hand back of all the proceeds — after tax...

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China machine ‘working very well’ amid stimulus, Rio says

China machine ‘working very well’ amid stimulus, Rio says

China’s stimulus efforts aimed at preventing the economy from slowing further and minimizing the impact of U.S. tariffs are supporting raw materials demand, according to Rio Tinto Group. “The Chinese machine is still working very well,” CEO...

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BHP’s first quarter iron-ore output jumps 8 percent, cuts copper guidance

BHP’s first quarter iron-ore output jumps 8 percent, cuts copper guidance

The world’s biggest miner, BHP, said on Wednesday its first-quarter iron ore production rose 8 percent on strong Chinese demand for high-grade ore, but cut its fiscal 2019 guidance for copper production, citing outages at key mines. BHP trimmed...

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Rio Tinto, Japanese partners to inject $1.55B into Aussie iron ore projects

Rio Tinto, Japanese partners to inject $1.55B into Aussie iron ore projects

World’s second largest miner Rio Tinto (ASX, LON:RIO) and its joint venture partners, Mitsui & Co and Nippon Steel & Sumitomo Metal, approved Monday a $1.55 billion investment to sustain production capacity at two iron ore projects in...

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Vale says it could expand Brazil iron ore mine as Chinese demand grows

Vale says it could expand Brazil iron ore mine as Chinese demand grows

Mining giant Vale is looking at expanding its flagship iron ore project in Brazil amid growing Chinese appetite for higher-grade varieties of the commodity, a company official said on Thursday. China, the world’s top consumer of the steelmaking...

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Exclusive: China’s Fosun in talks to buy commodity broker Marex Spectron – sources

Exclusive: China’s Fosun in talks to buy commodity broker Marex Spectron – sources

Chinese conglomerate Fosun International Ltd is in discussions to buy British-based commodities broker Marex Spectron, two industry sources said. The deal to buy privately-owned Marex would expand the portfolio of Fosun, one of China’s most...

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Australia’s Port Hedland iron ore shipments to China rise nearly 10 pct in Aug

Australia’s Port Hedland iron ore shipments to China rise nearly 10 pct in Aug

Iron ore shipments to China from Australia’s Port Hedland terminal rose nearly 10 percent in August from a month earlier, port data released on Monday showed. Iron ore shipments to China from the world’s biggest iron ore port totalled...

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Top-grade iron ore may spike to $100

Top-grade iron ore may spike to $100

High-grade iron ore may spike to $100 a metric ton as China intensifies a clampdown on pollution by restraining industrial activity, adding further momentum to a trend that’s reshaped the global market in recent years and driven buyers in Asia’s...

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Survival of the finest: miners reboot as smog-hit China seeks high grade ore

Survival of the finest: miners reboot as smog-hit China seeks high grade ore

For miners seeking to cater to the changing appetite of China, the world’s biggest iron ore importer, all eyes are on Tangshan, the country’s biggest steel-making city and the drastic measures it’s taking to rein in pollution. It has just told...

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