Tag: iron ore
iron oreBrazilian market suffers the impact of iron-ore producer Vale record loss in fourth quarter
Brazil’s Bovespa-index futures declined with the equity gauge poised for its biggest monthly drop since May, after iron-ore producer Vale SA posted a record loss in the fourth quarter.
Australian company estimates 69.4 million tons of 26.5% iron-ore in north Uruguay
Australia’s Gladiator Resources has announced a Joint Ore Reserves Committee, JORC, Indicated and Inferred Resource of 69.4 million tons at 26.5% iron at its Zapucay Project in the department of Rivera, northern Uruguay.
Bolivia raids the offices of India’s Jindal alleging “breach of contract”
Bolivian prosecutors with the support from police and military forces on Friday raided the offices of India’s Jindal in La Paz as part of an investigation for an alleged “breach of contract” following the company’s confirmation it was abandoning the huge iron-ore mining project of El Mutún.
Brazil’s Vale gets green light for largest ever iron ore mining project
The world's number two mining company, Brazil’s Vale Doce said it received an environmental license to build its biggest-ever iron ore mine, an Amazon region project that holds about one trillion dollars of reserves at current prices.
Brazilian iron ore exports drop 19% in value, first time since 2002
Brazilian exports of iron ore from January through May were down 19% in value from the same period last year, according to a report from Sao Paulo based newspaper Folha on Thursday.
India’s ambitious project to mine 20bn tons of iron ore in Bolivia at risk
India’s Jinda Steel & Power's ambitious Bolivian project to mine 20 billion tons of iron ore is at risk after the Bolivian government encashed yet another 18-million dollars bank guarantee from the Indian firm for not meeting contractual terms.
Brazil leading mining corporation reassessing its long term iron-ore reserves
Brazilian leading mining company Vale SA is “facing one of the toughest periods in our history as far as reserves are concerned,” a company executive said Thursday.
Weaker currency helps Brazil recover strong trade surplus
Brazil posted a trade surplus of 2.355 billion dollars in October, beating forecasts for a third straight month, outpacing imports in the final days of the month following a recovery in global commodities prices.
BHP Billiton plans to invest heavily in Brazilian iron ore extraction
BHP Billiton , the world's biggest miner, is close to launching a £2-billion-pound bid for Brazilian iron ore miner Ferrous Resources, the Sunday Times reported. The newspaper, without citing sources, said talks between BHP and Ferrous Resources started earlier this year and had stepped up in recent weeks.
China determined to break the grip of the three major global iron ore miners
China, the world's largest steelmaker and iron ore consumer, has set a target of dramatically increasing ore imports from Chinese-invested resources in the steel industry's 12th Five-Year Plan (2011-2015), an industry official said.
