BMO cuts Vale production estimates after additional mine closure
BMO Capital Markets has cut Vale’s (NYSE: VALE) iron ore production estimate this year by a further 30 million tonnes due to the continued suspension of the miner’s Brucutu mine,…
Iron Ore
US markets post slight gain, Feb. 18-22: Newmont, Rio Tinto
The Dow Jones Industrial Average rose 0.57% to 26,031.81, while the S&P 500 Index increased 0.62% to 2,792.67. Spot gold finished the week at US$1,337.80 per oz., up US$16.40 per…
Black Iron, Glencore discuss offtake for Shymanivske in Ukraine
Black Iron (TSX: BKI; US-OTC: BKIRF) and Glencore (LON: GLEN) are in talks to finance construction of the junior’s Shymanivske iron ore project in Ukraine, and have signed a non-binding…
Editorial: Iron ore prices surge higher on Vale disaster
All of those supply and demand, and price forecasts carefully assembled in late 2018 for iron ore have become obsolete in the wake of Vale’s devastating Corrego do Feijao tailings…
US markets post slight gains: Vale, Cleveland Cliffs, Buenaventura, Franco-Nevada, Peabody Energy
The Dow Jones Industrial Average posted a marginal 0.17% gain to 25,106.33, while the S&P 500 Index ended 0.05% higher at 2,707.88. Despite a rising dollar, spot gold held above…
Vale evacuates 500 people near Sul Superior tailings dam as ‘safety measure’
Vale (NYSE: VALE) is evacuating 500 people from an area below the Sul Superior dam, an upstream tailings dam that used to support production from the company’s Gongo Soco mine,…
Vale declares force majeure
Vale (NYSE: VALE) has declared force majeure on a series of iron ore and pellets sales contracts after a Brazilian state court ordered it to suspend production from its Brucutu…
Vale faces ‘serious reputational risk’ following dam disaster: Moody’s
Potential liabilities from the collapse of a tailings dam at Vale’s Feijao iron ore mine in Brazil that has left at least 99 people dead and another 250 people missing…
Editorial: Tailings spill at Feijao is Vale’s worst yet, with 84 dead, 276 missing
Here we go again. With memories still fresh of Vale and BHP’s deadly Samarco iron ore tailings disaster in Mariana, Brazil in November 2015 — which killed 19 people —…
US markets post significant gains, Nov. 26-30
U.S. markets surged in the trading week with a revised North American trade pact. The U.S.–Mexico–Canada (USMCA) agreement, signed on Nov. 30, replaces the 24-year-old North American Free Trade Agreement….
Anglo American has its eye on Angola
Commodities giant Anglo American (LON: AAL) has applied for exploration concessions for base metals in Angola. “We believe there is geological potential in Angola and have noted with interest the…
US markets edge lower, Sept. 3-7
The U.S. Bureau of Statistics released its job report showing that the unemployment rate remained unchanged in August at 3.9%. Base metals were down during the trading week while spot…