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.
Last week’s other top-gaining mining stocks on the TSX were Nautilus Minerals, Arizona Mining, Largo Resources and Coro Mining.
By Melissa Shaw
Last week’s other top-gaining TSXV stocks were Trigon Metals, Sama Resources, First Point Minerals and Newrange Gold.
By Melissa Shaw
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
Millennial Lithium (TSXV:ML;OTCQB:MLNLF) is pleased to report favorable results from a geophysical survey at their Cauchari East Project in the Cauchari-Olaroz basin of Jujuy Province, Argentina. Results of the survey show continuity of known lithium-bearing brine aquifers into and likely throughout Millennial’s property. The 100% owned Cauchari East Project covers
Lithium Australia NL (ASX:LIT), Venus Metals and MRIWA extend to Phase 2 experimental test work Highlights
Phase 1 test work completed for MRIWA Project M479 and results incorporated into the Large Scale Pilot Plant design
Phase 2 test work commenced under the terms of the MRIWA grant
Further optimisations sole funded by Lithium
Manganese X Energy Corp. (TSXV:MN) has received preliminary results from SGS-Lakefield of chemical analyses, mineralogical characterizations and assessments of the company’s Sharpe Farm and Moody Hill occurrences at its manganese property near Houlton-Woodstock, N.B.
Macarthur Minerals (TSXV:MMS) is pleased to announce that it has commenced its second soil sampling program at its Stonewall Lithium Project (“Stonewall Project”) located in Lida Valley, Nevada.
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)
Danakali Ltd. (ASX:DNK; OTC:DNKLY) is pleased to advise that pre-construction geotechnical work has commenced at the future Colluli mine site. Cone penetrometer testing, excavator test pits, and Shelby tube testing is underway to refine the geotechnical engineering properties of the soils and the delineating soil stratigraphy to support the refined
Last week’s other top-gaining TSXV stocks were Arak Resources, Cameo Resources, Adex Mining and Rugby Mining.
Lithium Australia NL (ASX:LIT) is pleased to announce it has completed the Aboriginal Heritage Surveys over LIT’s Ravensthorpe lithium prospects; Horseshoe and Deep Purple, 15 km west-southwest of Ravensthorpe, Western Australia.
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 (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
Danakali Ltd. (ASX:DNK; OTC:DNKLY) is pleased to advise that is has completed the expressions of interest (“EOI”) process for mining contractors for the Colluli Potash Project. The EOI phase is a precursor to the mining contract tendering process which will commence shortly.
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
Last week’s other top-gaining mining stocks on the TSX were Lithium Americas, Pilot Gold, INV Metals and Laramide Resources.