By Krystal Chia and Shery Ahn (Bloomberg) --Iron ore exports from Australia’s Port Hedland, the largest bulk-export terminal, are expected to hit a record as producers in the nation’s mining heartland raise output, according to the Pilbara Ports Authority. Cargoes of the steelmaking material shipped via Hedland may swell to a new high in the fiscal year to June 2020, and … [Read more...]
Congo Republic Ships First Iron Ore from Upgraded Port
BRAZZAVILLE, April 19 (Reuters) - Congo Republic shipped its first iron ore exports on Friday from a rehabilitated deep-water port that will be used by Congolese billionaire Paul Obambi's Sapro SA and Swiss commodities giant Glencore. Sapro mined the oil-dependent Central African country's first iron ore in 2017 from its Mayoko project in the southwest and plans to reach … [Read more...]
Rio Tinto Cuts Iron Ore Guidance After Cyclone Hits Shipments
April 16 (Reuters) - Anglo-Australian miner Rio Tinto Ltd on Tuesday reported a 14 percent drop in quarterly iron ore shipments and cut its 2019 shipments estimate on disruption caused by a tropical cyclone that hit its export terminal in Western Australia last month. Rio, the world's No. 2 miner of the steelmaking material, cut its annual iron ore shipments estimate to a … [Read more...]
World’s Largest Iron Ore Port Expects Higher Exports Post Vale
By Krystal Chia (Bloomberg) -- With a market facing a global deficit that was unforeseen at the start of the year, the world’s biggest iron ore export port is flagging a timely boost in shipments as Fortescue Metals Group Ltd. and rivals bring on new mines in Australia’s remote Pilbara region. The projected shortfall comes in the wake of Vale SA’s January dam … [Read more...]
Iron Ore Thunders Higher as Mine Dams Closed, Exports Collapse
By Krystal Chia (Bloomberg) -- Iron ore’s supply-driven rally picked up pace on Wednesday, with futures topping $90 a ton, amid increasing concern the crisis at Brazil’s Vale SA will be drawn out as regulators ordered dozens of dams to be shut. Futures for benchmark material rallied as much as 4.1 percent in Singapore, while spot ore climbed to a two-year high and the … [Read more...]