Rio Tinto sells more assets, confirms talks with Chinalco
Rio Tinto (RTP-n, RIO-l) continues to hack away at its immense debt load with sales to Vale (RIO-n) of its undevelo…
Iron Ore
Northland Upgrades Tapuli Iron Resource
VANCOUVER — Northland Resources (NAU-T, NRSRF-O) has boosted confidence in its Tapuli magnetite deposit, upgrading most of a 10-month-old resource estimate to the measured and indicated category.
Advanced Explorations makes headway in Nunavut
Drill results for Advanced Explorations’ (AXI-V) Roche Bay iron ore project in Nunavut confirm a higher grade…
BHP OKs Aussie Iron Ore Expansion
BHP Billiton (BHP-N, BLT-l) has approved an expansion at its iron ore mining operations in Western Australia, which will raise production by 50 million tonnes to 205 million tonnes per year in 2011.
Vale Scales Back
As the world economy continues to unravel, Vale (RIO-N) is closing its Copper Cliff South nickel mine in Sudbury, Ont., suspending its Voisey’s Bay nickel operations in Labrador for a month next July,…
Northland upgrades Tapuli magnetite resource
Vancouver – Northland Resources (NAU-T) boosted confidence in its Tapuli magnetite deposit, upgrading most of…
Vale shuts down nickel mine in Sudbury
As the world economy continues to unravel, Vale (RIO-n) is suspending its Copper Cliff South mine in Sudbury, shutt…
BHP reduces manganese production, adjusts iron production
BHP Billiton (BHP-N, BLT-L), the world’s largest mining company, has approved a capacity expansion at its iro…
Citigroup turns bearish across the board (November 17, 2008)
Vancouver– In a new commodity outlook Citigroup Global Markets predicts all base metal markets moving to surplus in 2009, meaning trough cycle prices will dominate through 2009.
Vale slashes iron ore production, trims nickel output
Saying that it is “adjusting to the new global economic scenario,” iron ore giant Vale (RIO-n) is dramatically scaling back its iron ore mining in Brazil in order to cope with an estimated 20% product…
Cliffs curtails production at two mines
Declining demand for steel has prompted major iron ore producer Cliffs Natural Resources (CLF-n) to stop production at two mines in Minnesota.
Severstal and Chalco cutting output (November 03, 2008)
Severstal, Russia’s largest steel maker, is slashing output in Russia, the U. S. and Europe by 25-30% amidst slowing demand, according to a report by Bloomberg news.