BHP plans spinoff to focus on ‘four pillars’
With a spinoff of its aluminum, manganese, nickel, silver and some of its non-core coal assets, BHP Billiton (LSE: BLT; ASX: BHP; NYSE: BHP) is driving to simplify its portfolio.
Iron Ore
LIM remains in limbo
Not much has happened at Labrador Iron Mines (TSX: LIM; US-OTC: LBRMF) since the company announced in June that it would suspend operations at its direct-shipping iron ore Schefferville projects in the Labrador Trough region, partly due to…
Editorial: Cliffs and Casablanca – the start of a beautiful friendship?
It’s the biggest shareholder revolt of the current downturn in mining, but as we go to press it looks like Casablanca Capital has succeeded fulsomely in its long-shot bid to swamp the 11-member board of Cliffs Natural Resources with six…
Cliffs reports disappointing Q2 ahead of proxy vote
Whether or not a dissident shareholder succeeds in replacing Cliffs’ (NYSE: CLF) CEO at its annual general meeting next week, big changes are likely in store for the iron ore and metallurgical coal miner.
TSX takes a break, June 30-July 4
Trading on the Toronto Stock Exchange was on the downbeat during the Canada Day shortened week, with the S&P/TSX Composite Index losing nearly 69 points to finish at 15,214.96. The spot price for gold retreated US$7.91 per oz. to…
Desjardins analyst cuts target price on New Millennium
Jackie Przybylowski, an analyst at Desjardins Capital Markets, has axed her price target on New Millennium Iron to 40¢ from 70¢ previously, noting the company’s management hinted at possible financing needs and delays in its…
LIM halts production due to low prices
After another disappointing fiscal year, Labrador Iron Mines (TSX: LIM; US-OTC: LBRMF) says it will not restart mining at its operations in the Labrador Trough this coming year partly due to weak iron-ore prices, and will instead refocus…
Capstone’s Santo Domingo feasibility shows potential
Capstone Mining (TSX: CS; US-OTC: CSFFF) has published a promising feasibility study for its Santo Domingo iron oxide–copper–gold project in Chile’s Region III, showing it could churn out an average 248 million lb. copper in…
Alderon Iron Ore satisfies all conditions for Kami
Alderon Iron Ore (TSX: ADV; NYSE-MKT: AXX) has signed a benefits agreement with the province of Newfoundland and Labrador and received surface and mining leases for its joint-venture Kami project, which green-lights construction.
US stocks finish strong, May 27-30
U.S. equities ended the holiday-shortened trading week in positive territory.
Rio Tinto’s US$20B iron ore mine plan in Guinea
VANCOUVER — A decade after mega-miner Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) was awarded the world-class Simandou iron-ore concessions in Guinea, West Africa, it looks like the stage has been set for what would be the largest…
Cliffs hit by falling prices, cold weather
A harsh winter and low iron-ore and coal prices ensured that Cliffs Natural Resources (NYSE: CLF) would disappoint on its first-quarter earnings.