Fortescue backtracks on plan that endangers Australian heritage site
Australian iron ore major Fortescue Metals Group (ASX: FMG) said today it would reevaluate an expansion plan at one of its iron ore mines in the Pilbara region, after an…
Iron Ore
Glencore records US$2.6B loss, scraps dividend
Glencore (LSE: GLEN) posted a US$2.6 billion loss after write-downs for the first half of the year and scrapped its dividend, as the coronavirus pandemic dented global demand and lowered…
Iron ore and coking coal prices approach parity
Since the establishment of the spot market for iron ore in 2008 and the inclusion of coking coal prices on the Singapore Exchange in 2014, the price of 62% iron…
B of A forecasts US$3,000 gold, US$35 silver on ‘financial repression’
In April, Bank of America Global Research increased its 18-month price target on gold from US$2,000 per oz. to US$3,000 per oz. and forecast an average gold price in 2020…
Chinese funding may resurrect Rio Tinto’s troubled Simandou project in Guinea
Rio Tinto (ASX, LON, NYSE: RIO) is once again discussing the development of the controversial large-scale Simandou iron ore project in Guinea, as half-year earnings support an investment case for…
Top 10 US-based mining companies
Mining in the United States has been ongoing for centuries and has played a role in the country’s development over the years. The Northern Miner presents its annual Top-10 listing…
Top 10 US-based mid-tiers to juniors, excluding coal and precious metals
The Northern Miner presents the top-10, U.S.-based mid-tier to junior companies, excluding coal and precious metals, by market capitalization, as of July 24, 2020. 1. Compass Minerals Market cap: US$1.8 billion Compass…
Baffinland Iron Mines and Inuit association strike landmark agreement
A new multimillion-dollar agreement between Baffinland Iron Mines and the Qikiqtani Inuit Association (QIA) that includes a substantial royalty increase, Inuit oversight of environmental monitoring and direct community benefits may…
US markets fall, June 22-26
A surge in coronavirus cases in parts of the United States undermined market sentiment. The Dow Jones Industrial Average fell 3.31% to 25,015.55 and the S&P 500 dropped 2.86% to…
ArcelorMittal considers sale of Canadian assets
ArcelorMittal (NYSE: MT), the world’s biggest steelmaker, is evaluating the potential sale of its infrastructure assets in Canada, where it has the largest and most profitable iron ore operation, as…
PwC report points to rising ESG focus in BC mining
While the current business outlook remains uncertain, PwC Canada, in its new B.C. mines report, says the British Columbia mining industry is in a good position to withstand volatility due…
Vale to resume operations at Voisey’s Bay
Vale (NYSE: VALE), the world’s top producer of nickel and iron ore, is fine-tuning details to reopen its Voisey’s Bay open pit nickel mine and concentrator in Canada, next month….