S&P Global lowers GDP, metals price forecasts
S&P Global Ratings has cut its global GDP growth forecast for 2020 to 0.4%. Earlier this month, it lowered its GDP growth forecast for China to 2.9% from its previous…
Iron Ore
Brazil shuts 47 mining dams deemed unsafe
Brazil has ordered the immediate closure of 47 mining dams that failed to certify their stability, with more than half of them belonging to Vale (NYSE: VALE), whose Córrego do…
TSX falls 14%, March 16-20: Kirkland Lake, Teck, Altius Minerals
The S&P/TSX Composite Index plunged 13.59% (1,864.5 points) to finish the March 16-20 trading week at 11,851.80. The S&P/TSX Global Mining Index fell 3.42% to 57.12, while the S&P/TSX Global…
US markets post slight gain, March 2-6: Fortuna, Vale, Mosaic, Intrepid Potash
The Dow Jones Industrial Average rose 1.79% to 25,864.78 and the S&P 500 advanced 0.61% to 2,972.37. Spot gold surged US$87.60 per oz. or 5.53% to US$1,673.10 per oz. Fortuna…
Guinea to partner with China-backed consortium at Simandou
The Republic of Guinea has selected a China-backed consortium to develop blocks 1 and 2 of the Simandou deposit, which holds estimated reserves of more than 2 billion tonnes of…
Rio Tinto’s emissions targets come under fire
Rio Tinto’s (NYSE: RIO; LSE: RIO) new carbon emissions reduction targets have triggered heated criticism from some investors and environmental groups, with a group led by a Friends of the…
PDAC: Investment bankers discuss coronavirus impact
In a capital markets session at the Prospectors and Developers Association of Canada, investment bankers from BMO Capital Markets, TD Securities, CIBC Capital Markets and RBC Capital Markets discussed the…
PDAC: Coronavirus weighs on mining outlook
It’s usually difficult to find a seat at the commodities session on the opening day of the Prospectors and Developers Association of Canada (PDAC) convention held in early March in…
Rio Tinto builds first solar plant in Western Australia
Rio Tinto (NYSE: RIO; LSE: RIO) will build a US$98 million solar plant to power its Koodaideri iron ore mine in Western Australia, about 35 km northwest of the company’s…
Ashley Kirwan, David Cataford named Young Mining Professionals of the Year
The winners of the Young Mining Professionals (YMP) awards this year are Ashley Kirwan of Orix Geoscience and David Cataford of Champion Iron (TSX: CIA). The YMP awards, presented in…
Iron price falls on coronavirus
Benchmark iron ore prices fell on Jan. 29 as China — responsible for more than 70% of the world’s seaborne iron ore trade — struggles to control the deadly coronavirus…
Ex-Vale CEO charged with homicide for Brazil dam disaster
State prosecutors in Brazil have charged Vale’s (NYSE: VALE) former CEO, Fabio Schvartsman, with homicide after the catastrophic tailings dam disaster a year ago at the company’s Feijao iron ore…