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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.

 

 

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

Giyani Acquires Former Manganese Producing Mine in Botswana

Giyani Acquires Former Manganese Producing Mine in Botswana

Giyani Gold Corp. (TSXV:WDG) has acquired six new prospecting licences that encompass the past-producing Kgwakgwe Hill manganese mine, located in the Kanye basin, southeastern Botswana. Binding agreements have been signed with Everbroad Investments (Pty) Limited and Marcelle Holdings (Pty) Limited to acquire an 88% interest in PL322/2016 (Kgwakgwe Hill License)

Algold Resources Drills 4 m of 10.2 g/t Au at Tijirit

Algold Resources Drills 4 m of 10.2 g/t Au at Tijirit

Algold Resources Ltd. (TSXV:ALG) today released preliminary assay results from its phase 3 20,000-metre drilling campaign carried out on its Tijirit property in Mauritania. Results continue to demonstrate the high-grade nature of the Eleonore zone, with the mineralization now extending to a vertical depth of up to 150 metres.

Critical Elements Produces 6.56% Lithium Concentrate

Critical Elements Produces 6.56% Lithium Concentrate

Critical Elements (TSXV:CRE,OTCQX:CRECF,FWB:F12) has successfully completed its pilot plant trials. The program confirmed the suitability and robustness of the beneficiation plant design. The outstanding results yielded lithium concentrate grades of up to 6.56% and recoveries of up to 83.4%. Results obtained in pilot plant testing demonstrate very good understanding of

Power Generation Bids Complete for World Class Colluli Project

Power Generation Bids Complete for World Class Colluli Project

Danakali Ltd. (ASX:DNK; OTC:DNKLY) is pleased to advise that all bids for power generation for the Colluli potash project have been received, and that a comprehensive evaluation of the tenders has commenced. The bidding process followed an expressions of interest phase which was completed in January1 . Colluli is the

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