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Tag: iron ore

Iron may be found in rocks and minerals in a variety of forms including magnetite, hematite, geothite, limonite and siderite. The base metal is key in the construction of machinery, tools, automobiles, ships, buildings, and more due to its strength and low cost.

Due to the fact that pure iron is very soft, it is most commonly used in the production of steel. Metallic iron is extracted from iron ore and its properties can be modified by alloying it with carbon and various other metals to create steels.

China is the top iron-producing country, and also the largest consumer of the metal.

Unlike most commodities, the majority of iron ore trades under contracts in which major counterparties negotiate annual changes in prices. Vale  (NYSE:VALE), the world’s largest iron ore miner, along with the other industry giants Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), BHP Billiton (ASX:BHP,NYSE:BHP,LSE:BLT) and Australia’s Fortescue Metals Group (ASX:FMG) currently dominate the seaborne iron ore market and often set the price for the entire industry when they negotiate large supply contracts. These four companies have been flooding the market and attempting to push higher-cost producers out as they all continue to ramp up production despite the detrimental affects it has had on the iron ore price.

 

 

Beowulf Mining Provides Graphite Exploration Update

Beowulf (AIM: BEM; Aktietorget: BEO), the mineral exploration and development company focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, is pleased to announce further results from its recently completed eight-hole diamond drill programme at its 100

Quebec Iron Ore Signs Off-Take Agreement with Sojitz Corporation

Champion Iron (ASX: CIA) (TSX: CIA) (“Champion” or the “Company”), is pleased to announce that its subsidiary, Quebec Iron Ore (“QIO”), has signed a Framework Off-Take Agreement (the “Agreement”) with Sojitz (“Sojitz”), a major trading company based in Tokyo, Japan, pursuant to which Sojitz would purchase up to 3,000,000 DMT

ML Gold to Retain Block 103 Iron Ore Asset

ML Gold (TSX VENTURE:MLG)(FRANKFURT:XOVN.F) (“ML Gold” or the “Company”) reports that it will not be selling its 100% interest in the Block 103 iron ore property (“Block 103” or the “Property”) to Accend Capital Corporation (“Accend”), a capital pool company listed on the TSX Venture Exchange (TSX VENTURE:ADP.H) as stated

Alderon Files Q1 2017 Financial Results and Provides Corporate Update

Alderon Iron Ore (TSX: IRON) (“Alderon” or the “Company”) announced that it has filed its financial results for its first quarter ended March 31, 2017. All amounts, unless indicated, are reported in CAD dollars.

Mark Morabito, Chairman and Chief Executive Officer of Alderon Iron Ore commented:
“We’ve had a very exciting and

Beowulf Mining Provides Kallak North Exploitation Concession Update

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Beowulf (AIM: BEM; AktieTorget: BEO), the mineral exploration and development company,

Cliffs Natural Resources Inc. Reports First-Quarter 2017 Results

Cliffs Natural Resources Inc. (NYSE: CLF) today reported first-quarter results for the period ended March 31, 2017. The Company reported consolidated revenues of $462 million, an increase of 51 percent compared to the prior year’s first-quarter revenues of $306 million, as a result of increased sales volumes and seaborne iron

Rio Tinto Releases First Quarter Production Results

Rio Tinto chief executive J-S Jacques commented on the results:
Despite challenging weather conditions at our West Australian and Queensland operations, we delivered solid production in the first quarter of 2017. Our strategy is unchanged. Our number one priority is safety. We maintain our disciplined approach to capital management and maximising

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