Subscribe to Iron News feed
Objective News on Iron ore mining, exploration, and iron industry investing
Updated: 46 min 56 sec ago

BHP Billiton Could Cut More Jobs in Western Australia

Wed, 2014-09-17 12:33

The AAP reported that, although BHP Billiton (NYSE:BHP) hasn't confirmed that it has already let more of its staff go, the miner has said that it does plan to make some staff at its Nelson Point operations redundant in coming months.

Continue reading...

Iron Ore Records Biggest Gains in Six Months

Tue, 2014-09-16 13:46

The Sydney Morning Herald reported that iron ore prices hit their highest in six months, leading several iron ore miners to see slight gains.

Continue reading...

India Looks to Take Advantage of Iron Surplus Market

Tue, 2014-09-16 11:35

India is looking to help ease the oversupplied iron market by turning into a large importer following a cutback in domestic production.

Continue reading...

The Tyranny of Timing: Western Desert Resources Goes Under

Mon, 2014-09-15 15:23

Australian Iron Ore hopeful, Western Desert Resources collapsed on September 5, as administrators were called in by its major creditor Macquarie Bank.

Continue reading...

Morgan Stanley Calls for Iron Ore Rebound

Mon, 2014-09-15 14:46

Bloomberg reported that Morgan Stanley is calling for an "end-of-year rally" for iron ore prices. The analysts saw supply closures and rising steel demand as drivers behind a rebound, although they did say that the base metal could fall slightly lower before coming back.

Continue reading...

Low Iron Ore Prices Could Soon Cause Closures, Analysts Say

Fri, 2014-09-12 15:37

Reuters reported that iron is set to fall for the fifth week in a row as the surplus continues and China's steel market looks weak. However, Matt Fusarelli, an analyst at AME Group in Sydney saw prices rebounding to "perhaps $95 a tonne towards the end of the year," forecasting production closures and a tightening of supply.

Continue reading...

Vale to Cut Iron Ore Shipping Costs with Giant Vessels

Fri, 2014-09-12 15:21

Bloomberg reported today that Vale (NYSE:VALE) has made a move to cut costs further by using giant Valemax vessels to ship its iron ore. The company announced Tuesday that it had signed an agreement with China Ocean Shipping Co. to lease several vessels.

Continue reading...

Iron Prices Take a Hit on Oversupply

Wed, 2014-09-10 18:45

Iron prices are down 38 percent so far this year on oversupply and weak demand from China.

Continue reading...

Goldman Sachs Predicts the End of the Iron Age

Wed, 2014-09-10 18:24

With iron ore supplies exceeding demands, Goldman Sachs has said this year will mark the end of the "Iron Age."

Continue reading...

High Spending Days for Iron Are Over

Mon, 2014-09-08 12:15

As iron prices tumble to five-year record lows, The Sydney Morning-Herald is reporting that Australian companies are pulling back from spending vast amounts of money on iron projects. According to The Sydney Morning-Herald: Not even the most optimistic are suggesting that the days of super profits from this industry are set to return. It’s a [...]

Continue reading...

Sundance Resources: Divide and Conquer?

Mon, 2014-09-08 01:20

The Sundance Resources (ASX:SDL) saga took an unusual turn last week with a A$40 million cash injection via unsecured convertible notes, from Ukrainian mining billionaire Gennadiy Bogolyubov.

Continue reading...

Iron Ore Sinks to Five-year Low

Fri, 2014-09-05 13:55

The Sydney Morning Herald reported that the benchmark price for iron ore for immediate delivery to Tianjin, China has slipped to a five-year low of US$83.40 per tonne.

Continue reading...

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.

Continue reading...

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.

Continue reading...

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.

Continue reading...

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.

Continue reading...

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.

Continue reading...

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.

Continue reading...

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.

Continue reading...

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.

Continue reading...