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BHP Billiton (ASX:BHP,NYSE:BHP,LSE:BLT) CEO Andrew Mackenzie and Vale (NYSE:VALE) CEO Murillo Ferreira released a joint statement regarding the Samarco iron ore mine tailings dam failure.
Mining Weekly reported that Vale (NYSE:VALE) said the Samarco iron ore mine flood caused by the collapsed tailings dam will cut output from two nearby mines.
As quoted in the market news:
Iron-ore output from Vale’s Fábrica Nova and Timbopeba mines will be cut by three-million tonnes in 2015 and by nine-million
BHP Billiton (ASX:BHP,NYSE:BHP,LSE:BLT) provided an update for the incident at the Samarco Mineração S.A iron ore operation on November 5, which both BHP and Vale (NYSE:VALE) hold a 50 percent interest in.
Mining Weekly reported a dam holding back waste water from an iron ore mine in Brazil burst on Thursday, creating mudslides in a nearby town and causing casualties. The dam is owned by Vale (NYSE:VALE) and BHP Billiton (ASX:BHP,NYSE:BHP,LSE:BLT).
But some believe a rebound could take place in the next year or two.
Rio Tinto, Vale and BHP Billiton all reported iron ore production increases in Q3, while steel demand from China and across the globe has continued to drop.
Equitas Resources (TSXV:EQT; FSE:T6UN) was recently featured in a Goldstocktrades.com article titled “Copper and Base Metals May Be on Verge Of Major Breakout After Glencore Cuts Production”
Mining Weekly reported that India’s NMDC Limited (NSE:NMDC) is seeking help from the federal government to secure new reserves and scale up operations.
A look at some of the tungsten companies developing projects and producing tungsten outside of China.
Avanco Resources Limited (ASX:AVB) has released drone flyover footage taken September 12, 2015 from their Antas Copper Mine.
Increasing nervousness and uncertainty about the European debt crisis has acted as a drag on the commodities and base metals sectors this week. China is also creating interest for investors in a number of resource based industries, with impacts in the diamond polishing, as well as the lithium and lead
The nickel news latest released is that Vale has been forced to halt production at its Brazil-based Onca Puma nickel mine.
By Pia Rivera
Blackheath Resources Inc. (TSX:BHR) reported results from its diamond drilling program, as well as previously unreported historical reserve estimates, from the Vale das Gatas Tungsten Mine in Portugal.
By Pia Rivera
Blackheath Resources Inc. (TSX:BHR) announced results from a recent work program at the Vale das Gatas Tungsten Mine in Portugal, as well as previously unreported historical reserve estimates. Highlights from the work program include an underground sample of stockwork totalling 11 metres averaging 2.09% tungsten trioxide.