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Updated: 48 min 41 sec ago

Iberian Minerals Announces Details of Annual Meeting

Thu, 2014-08-28 10:34

Iberian Minerals (TSXV:IML) reported results from its annual and special meeting held on August 27. All resolutions detailed in the notice of the meeting from July 23 were passed.

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Iron Ore Falls on Projected Surplus

Tue, 2014-08-26 13:29

Bloomberg reported today that Iron Ore prices fell today on continued expectations for a surplus for the global seaborne market.

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New Cliffs CEO Anticipates Smooth Share Buyback

Mon, 2014-08-25 19:48

Cliffs Natural Resources Inc. (NYSE:CLF) announced that its board of directors has authorized a $200-million share buyback program.

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Alderon Iron Ore Provides Update on Project Financing

Wed, 2014-08-20 17:53

Alderon Iron Ore Corp. (TSX:ADV,NYSE MKT:AXX) and BNP Paribas have agreed to terminate the engagement of BNP Paribas as lead arranger of the senior debt financing facility for the construction of the Kami Project. Alderon has appointed Endeavour Financial Limited in order to act as its financial advisor in terms of the project financing process. It intends to form a club syndicate of international banks to provide the senior debt financing facility.

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BHP to Say Goodbye to Businesses Worth US$16 Billion in Spin Off

Tue, 2014-08-19 14:15

The move is aimed at allowing BHP to focus on the "four pillars" of iron ore, copper, coal and petroleum.

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Iberian Minerals Announces Closing of Non-Convertible Secured Debenture

Fri, 2014-08-15 10:46

Iberian Minerals Ltd. (TSXV:IML) has amended the terms of its previously announced private placement offering of debentures. The debentures are now non-convertible. All other terms of the private placement remain the same.

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Iberian Minerals to Undertake Convertible Debenture Financing

Wed, 2014-08-13 11:15

Iberian Minerals (TSXV:IML) has announced a non-brokered private placement of convertible debentures. The placement will be in the principal amount of C$350,000, with the debentures maturing on July 31 2015 and bearing interest at the rate of 15 percent per annum.

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Lourenco Goncalves Now Chairman, President and CEO of Cliffs

Thu, 2014-08-07 19:24

Cliffs Natural Resources Inc. (NYSE:CLF) announced that its board of directors has elected Lourenco Goncalves to the positions of chairman, president and CEO.

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Cliffs Won’t Contest Board Election Results

Tue, 2014-08-05 14:18

Cliffs Natural Resources Inc. (NYSE:CLF) announced the results of its annual general meeting of shareholders, commenting that based on a report from elections inspector IVS Associates Inc., five of its directors have been re-elected to the board.

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Alderon Iron Ore’s Offtake with Glencore: 100 Percent of Initial Production Committed

Tue, 2014-08-05 07:45

Iron industry veteran Tayfun Eldem on what Alderon's recent offtake agreement with a Glencore subsidiary means for the company.

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Kumba Iron Ore Reaches Three Year Wage Deal With Unions

Thu, 2014-07-31 10:58

Moneyweb reported that Kumba Iron Ore Ltd. (JSE:KIO) has signed a three year wage deal that will see its lowest paid workers get a ten percent wage increase. The deal will mean that a strike by the National Union of Mineworkers will be avoided, according to Moneyweb.

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Casablanca Capital Wins Battle for Cliffs Natural Resources

Wed, 2014-07-30 16:15

At Cliffs Natural Resources' annual general meeting, held yesterday, six of Casablanca Capital's nominees were elected to the board of directors. The so-called activist investor plans to make Lourenco Goncalves, one of the nominees, CEO of Cliffs.

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Casablanca Capital Claiming Victory in Cliffs Natural Resources Dispute

Wed, 2014-07-30 15:06

Mineweb reported today that fund manager Casablanca Capital has stated that its six nominees have been elected to the board of directors of Cliffs Natural Resources. Casablanca has been locked in a battle with Cliffs for some time, citing cost overruns and accusing the company of destruction of shareholder value.

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Alderon Iron Ore Enters Off-take Agreement with Glencore

Tue, 2014-07-29 12:29

Alderon Iron Ore Corp. (TSX:ADV,NYSE MKT:AXX) announced that its affiliate, the Kami Mine Limited Partnership, has entered into an off-take agreement with a subsidiary of Glencore plc (LSE:GLEN). Under the terms of the agreement, Glencore will acquire all production from the Kami Project that has not been allocated to Hebei Iron and Steel Group (SHE:000709).

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Big 3 Iron Miners Keeping Up Volume, Price Balancing Act

Mon, 2014-07-28 12:18

Reuters columnist Clyde Russell wrote today that iron ore miners BHP Billiton (NYSE:BHP) Rio Tinto (NYSE:RIO) and Vale (NYSE:VALE) are bent on keeping their dominant position in the market by increasing low cost production. The strategy will depend on whether demand from China will continue to support prices, according to the author.

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Vale Reports Best Iron Ore Production Performance Ever For Q2

Fri, 2014-07-25 13:27

Mineweb reported today that Vale (NYSE:VALE) has reported its strongest ever iron ore production for the second quarter of 2014. Operational performance was bolstered by good weather and plant ramp-ups, according to Mineweb.

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Rio Tinto’s New Iron Mine To Overtake BHP’s Mt Whaleback as Largest in Australia

Thu, 2014-07-24 19:07

Iron ore prices may be down, but that hasn't stopped Rio Tinto (NYSE:RIO) from making plans for the biggest iron ore mine in Western Australia's Pilbara region. According to Mining Australia, the new pit at it's Yandicoogina operation could produce 70 million tonnes per year.

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India Not Planning to Restrict Exports of Iron Ore

Tue, 2014-07-22 11:56

The Deccan Chronicle Reported that although India is attempting to curb illegal money, the country will not restrict its exports of iron ore. According to the Chronicle, Minister of State for Steel Vishnu Deo Sai has stated that the country will still have enough ore to supply domestic steelmakers.

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Indonesia Resumes Export of Some Metal Ore Concentrates

Mon, 2014-07-21 12:23

Mineweb reported today that shipments of iron ore, lead, and zinc have left Indonesia following the implementation of a mineral export ban from the country in January. Two firms, Sebuku Iron Lateritic Ores and Lumbung Mineral Sentosa, agreed to pay a controversial 20 percent export tax, according to Mineweb.

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Long Term Iron Price Will Be $110 a Ton, Vale CEO

Fri, 2014-07-18 12:25

Bloomberg reported this week that Vale CEO, Murilo Ferreira sees iron ore prices coming back up to $110 a pound on growing demand from China. Together with fellow major miners like Rio Tinto (NYSE:RIO), Vale is upping its mine production on the belief that higher volumes will balance lower prices, according to Bloomberg.

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