Vale pegs cost for carbon-free mining and steelmaking at over US$1T
Vale’s CFO said that the biggest challenge is to reduce the cost of the energy transition.
Iron Ore
Feds end Canada’s rail strike
Ottawa has stepped in to end a rare strike halting both of Canada’s major railways less than a day after it began. Labour Minister Steve MacKinnon on Thursday afternoon ordered…
Why this week’s market mayhem doesn’t signal a complete meltdown
Global markets have experienced spectacular moves this week, led by Japan’s Nikkei index. It tumbled 12% on Monday, then recovered 11% on Tuesday! Incredible whipsaw action — But that’s not what…
Rio Tinto open to major acquisitions to meet copper goals
Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) said on Wednesday it would contemplate a significant copper acquisition if it added exceptional value, but noted that buying quality assets in…
Anglo American takes US$1.6B writedown on UK mine
Anglo American (LSE: AAL) swung to a loss in the first half of the year after taking a fresh US$1.6 billion writedown on its Woodsmith fertilizer project in the U.K.,…
Vale to develop low-carbon iron in Brazil, US and Middle East within a year
Three projects were already announced for Oman, Saudi Arabia, and the United Arab Emirates.
Vale Metals appoints mining veteran Shaun Usmar as CEO
Vale Base Metals, Vale‘s (NYSE: VALE) Canadian-based spinout of its metals business created last year, has appointed mining veteran Shaun Usmar as its new chief executive officer. Usmar brings over…
Serbia inks lithium memos with EU amid Jadar’s revival
Serbia, the European Union and Germany inked a series of agreements on Friday that may grant EU members as well automakers Mercedes Benz and Stellantis exclusive access to Serbian lithium. …
Ukraine seeks experts to revive war-ravaged steel sector
Ukraine is issuing a call for international mining experts to boost its steel industry accounting for about a tenth of the economy as the war crushes infrastructure and takes most…
Will Guinea’s Simandou iron ore mine be the ‘Pilbara killer’?
Simandou, one of the world’s most significant iron ore developments, may soon challenge Australia’s Pilbara region as the world’s dominant producer of the steelmaking metal. Initially discovered in 1997,…
Fortescue cuts 700 jobs, slows down green hydrogen plans
Fortescue (ASX: FMG) plans to cut about 700 jobs, or 4.5% of its global workforce, as part of a new restructuring push that will see the Australian iron ore miner scale…
Rio Tinto names Shell’s Katie Jackson as new copper chief
Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) has appointed Katie Jackson, a former Shell executive, as the new head of the company’s copper division, based in London, U.K. Jackson,…