HSBC cuts iron ore price forecasts
The current iron ore market “looks like a game of chicken where no player has blinked,” says the Hong Kong and Shanghai Banking Corp.
Iron Ore
Iron ore price collapse claims more victims
Cliffs Natural Resources (NYSE: CLF) and London Mining (US-OTC: LIIGF; LSE: LOND) have become the latest casualties of falling iron ore prices, with Cliffs warning that it expects to record a US$6-billion non-cash impairment charge in the third…
Editorial: Miners smile at falling oil prices
Mining companies struggling to cut cash costs have caught a welcome break in September and October, as global oil prices have fallen sharply to two-year lows.
US stocks tumble, Sept. 29-Oct. 3
U.S. equities had a rough ride during the trading week. The Dow Jones Industrial Average fell 103 points to 17,009.69, while the S&P 500 Index lost 15 points to end at 1,967.90. The tech-heavy Nasdaq Composite Index tumbled 37 points to…
Innu First Nations return ‘Stones of Shame’ to Rio Tinto
In a symbolic gesture the Innu First Nations of Uashat Mak Mani-Utenam and Matimekush-Lac John returned two iron-ore boulders to Iron Ore Co. of Canada’s (IOC) head office in Montreal. IOC is majority-owned by Rio Tinto. The boulders were…
Commentary: Plan Nord+ – Fresh breezes from the Belle Province
Having just recently attended the Precious Metals Summit in Beaver Creek, Colo., and the Denver Gold Show, I was pleased to see that even with dampened enthusiasm on the show floors due to the downward-trending price of gold, there was plenty…
Editorial: Iron ore prices – grim and grimmer
If you thought around mid-year that the iron-ore market couldn’t get any worse, September was a bit of a shocker.
US stocks advance, Aug. 18-22
U.S. equities had a strong run during the Aug. 18–22 week. The Dow Jones Industrial Average jumped 338 points to 17,001.22. The S&P 500 Index rose 33 points to 1,988.40, while the tech-heavy Nasdaq Composite Index climbed 74 points to…
Ousted Cliffs CEO to receive US$11M payment
Struggling iron ore and coal miner Cliffs Natural Resources (NYSE: CLF) will have to make close to $28 million in severance payments to executives and other key staff that have been turfed following a proxy battle.
Cliffs to buy back shares
A month after activist hedge fund Casablanca Capital succeeded in gaining control of the board at Cliffs Natural Resources (NYSE: CLF), the troubled iron ore and metallurgical coal miner says it plans to buy back US$200 million worth of its own…
Rio Tinto’s profits improve as hard-won cost savings take hold
VANCOUVER — Cost cutting by the majors has been a painful necessity over the past few years, and Rio Tinto (NYSE: RIO; LSE: RIO) is no exception. But based on the results from the first half of 2014, the mega-miner’s focus on…
Mabilo drilling delivers strong results for RTG Mining
Drill results from RTG Mining’s (TSX: RTG) flagship Mabilo gold–copper project in the Philippines sent the company’s shares up 2.78% to $1.11 per share on Aug. 13, and another 24.32% to $1.38 on Aug. 14.