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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’s US$338 million Silvergrass iron ore mine officially open

Rio Tinto today officially opened its Silvergrass iron ore mine in Western Australia.

The US$338 million project is the 16th mine at Rio Tinto’s world-class iron ore operations and will produce low-phosphorous ore crucial to maintaining Rio Tinto’s premium Pilbara Blend product.

Rio Tinto chief executive J-S Jacques said:
“Silvergrass is a great

Western Uranium Corporation Shareholder Update

Western Uranium Corporation Shareholder Update

Western Uranium Corporation (TSXV:WUC) is pleased to provide an update to shareholders and the market. Western is investigating re-starting its vanadium-rich mines as the result of the higher vanadium price, currently $9.50 per pound. The 2017 forecast global production of vanadium is about 80,000 tonnes compared to the forecast consumption of

Macarthur Minerals Acquires 15% of Western Australian Gold and Lithium Project

Macarthur Minerals Acquires 15% of Western Australian Gold and Lithium Project

Macarthur Minerals Limited (TSX-V:MMS) (the “Company” or “Macarthur Minerals”) is pleased to announce that it will acquire 15% of Yalgoo Exploration Pty Ltd (“Yalgoo Exploration”), which owns the Melville Gold Project in Western Australia1.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4a7e47cc-811e-4bbe-822b-adcb29045e5a.
David Taplin, President, CEO and Director of Macarthur Minerals commented:
“Macarthur Minerals is

Nautilus Minerals announces financial results for Q2 2017

Nautilus Minerals Inc. (TSX:NUS)(OTC:NUSMF Nasdaq Intl Designation) (the “Company” or “Nautilus”) announces the release of its unaudited consolidated Financial Statements for the second quarter ended June 30, 2017, together with Management’s Discussion and Analysis.

Q2 2017 Significant Events

Received US$6 million through the US$20 million bridge financing facility provided by

Midland and Altius Identify a New Zinc-Bearing Belt in the James Bay Area and Discover a New Zinc Showing up to 7.53% Zn

Midland Exploration inc. (“Midland”) (TSXV:MD) is pleased to announce the discovery of a new high-grade massive sulphide zinc showing, as part of its strategic exploration alliance with Altius Minerals Corporation (“Altius”) (TSX:ALS). The new showing, named “O’Connor” is located approximately 80 kilometers east of Nemaska, Eeyou Istchee, Quebec, in an

Supreme Metals Update on Activity in the Bloom Lake East Area

Supreme Metals (the “Company”) (CSE: ABJ)(FSE:A68) is pleased to congratulate its neighbor, Champion Iron Ore Limited for its recent USD180M debt financing on its Bloom Lake Iron Ore Mine production restart.

The restarting of this mine and the recent rise in iron prices should enhance the economics of the iron ore occurrences existing on

“Do You Want To Know which Base Metal to Invest in 2017?”

Find out everything an investor needs to know about base metals with our all-in-one FREE market report on base metals investments.   Get My Free Report

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