Mineral News
Wednesday 8/3/2022
China in risky bet to test its power in iron ore markets
Iron ore prices are swinging between optimism and pessimism over the economic outlook in top importer China, but beyond the short-term oscillations a longer-term battle is looming.
Saturday 7/30/2022
Miner Rio Tinto RIO.AX reported a 29 Percent drop in first-half profit on Wednesday, hurt by weaker iron ore prices due to cooling demand from top consumer China, higher costs and labour shortages.
Iron ore prices have come under increased pressure in recent months due to persistent demand worries from top steel producer China, with the country’s zero-COVID policy curtailing economic activity and weighing on ferrous markets.
Wednesday 7/27/2022
Rio Tinto, Fortescue record profits near end on price view, dim demand
Australian iron-ore miners Rio Tinto and Fortescue Metals Group are unlikely to see a repeat of record profits booked in recent years as they face soaring costs, falling prices and a tight labour market.
Sunday 7/24/2022
China approves $458m coal project in Inner Mongolia region
BEIJING - China has approved a coal mine project worth 3.1-billion yuan ($458-million) in the country's Inner Mongolia region, the National Energy Administration (NEA) said on Thursday.
Saturday 7/23/2022
Gold prices holding solid gains as U.S. flash PMI data shows activity in manufacturing, service sectors at two-year lows
Recession fears continue to build in the U.S. as preliminary data showed mixed activity within manufacturing and service sectors in July