Iron ore prices rose 2 percent on Tuesday, thus extending a 6 percent rally that began last Thursday, MINING.com reported.

China is planning to end its decade-old iron ore import licensing system this year, thus cutting costs for steel mills by eliminating middlemen that charge commissions for imports, Reuters said.

Cap-Ex Iron Ore Ltd. (TSXV:CEV,FWB:X0V,OTCQX:CPXVF) entered into two additional non-exclusive agreements to find strategic partners or investors for its Block 103 project. The Company entered into an agreement with Intercedent Limited and Pridolian Limited.

West African Iron Ore Corp. (TSXV:WAI) issued a total of 2,415,000 common shares to non-executive directors pursuant to the previously announced settlement of $241,500 in accrued directors' fees.

Costly iron ore projects are moving forward despite the metal's lagging price.

Labrador Iron Mines Holdings announced its first shipment of iron ore for 2013; the company reported that a cargo ship laden with 174,360 wet metric tonnes set sail from the Port of Sept-Îles bound for China.

Steel Guru reports that Centaurus Metals (ASX:CTM) has delivered higher grade iron ore results from its latest drilling program at its Candonga Iron Ore Project in Brazil.

The Australian reported that Gina Rinehart's $9.5 billion Roy Hill iron ore project has emerged as the potential saviour for scores of contractors and suppliers hit hard by the mining slowdown.

The Telegraph India reported that Afisco, the SAIL-led consortium that plans to mine iron ore at Hajigak in Afghanistan, is “on the verge of signing an agreement” to start the project, said C.S.Verma, chairman of the state-run steel behemoth.

Exports of iron ore to China from Australia's Port Hedland, a strong indicator of Chinese industrial activity, surged 21 percent in May, from April, to hit a record high, Reuters said.

Rio Tinto has drawn up a shortlist of half a dozen buyers of its majority stake in Iron Ore Company of Canada (IOC), Canada's largest iron ore producer, reported Mining Weekly.

The iron ore price surged more than 4 percent on Tuesday, extending gains made on Monday due to better than expected economic news out of China, and a realization that too much destocking has occurred in that country, reported Mining.com.

Cap-Ex Iron Ore Ltd. (TSXV:CEV,FWB:XOV,OTCQX:CPXVF) reported changes to its senior officers effective May 31, 2013: Graham Harris has been appointed CEO and Brett Matich has been re-appointed President.

Iron ore prices dropped to a 7-month low of US$113 per tonne due to weak Chinese steel demand, Business Spectator reported.

Reuters reports the Brazilian government has approved a new mining concession allowing Vale (NYSE:VALE), the world's second largest miner, to develop a 387-hectare iron ore deposit in Minas Gerais state.

Mineweb reported that Northland Resources (TSX:NAU) has shut down its Kaunisvaara iron ore mine in Sweden, although there is hope that the near-bankrupt company may not have to liquidate assets.

Sundance Resources (ASX:SDL) said on Monday it is considering its options for the Mbalam-Nabeba iron-ore project, following the collapse of takeover discussions with Hanlong Mining, Mining Weekly reported.

Mail India Online reports that Gali Janardhan Reddy and six others were charged in a Bangalore court with alleged illegal mining of iron ore causing a loss of Rs 108 crore to the exchequer.

Cap-Ex Iron Ore Ltd. (TSXV:CEV,FWB:XOV,OTCQX:CPXVF) has closed a private placement of 20,730,000 units at a price of $0.10 per Unit for proceeds of $2,073,000.

West African Iron Ore Corp. (TSXV:WAI) arranged a $2 million unsecured convertible debenture financing agreement with Sky Alliance Resources Inc. (SARI), a privately owned, international mining and consulting firm based in Hong Kong and registered in the British Virgin Islands.