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Declines Iron Ore Request, Vale Declines Invesment Of Expansion Of Iron Ore Project
Decline iron ore request by steelmaker company, results iron ore company to reduce invesment to develop project of iron ore.
The biggest iron ore company, Vale cutting of invesment for the price of 37 percent ( $9 billion). Cutting of investment value is caused delay in obtaining permit to expansion of exploration area.
Brazilian Iron Ore Company, Vale Reports Iron Ore Export and Net Profit in Q1 2009
The world’s largest iron ore producer Vale issued Q1 statement. The iron ore demand and the price declined owing to the global economic recession, the company net profit is U.S.$1.36bln in Q1 2009, dropped 33% compared with the same period of last year’s U.S.$2.02bln.
The Biggest Mining Company, BHP Billiton Selling 28% of Iron Ore Mine Production at Forecast Decline in Contract Prices
BHP Billiton Ltd., the world’s largest mining company, sold 28 percent of its iron ore output at cheaper spot prices after customers deferred deliveries ahead of a forecast decline in contract prices.
Global Mining Companies Plans Expansions Iron Ore Mine Output
Global iron ore prices are set to decline sharply in 2009 as demand for the steelmaking ingredient shrinks dramatically as a result of deepening world economic recession.
Mining Companies Shut Down Iron Ore Mine Production
BHP Billiton Cut Iron Ore Mine Production after Samarco Cut 65% output
Samarco, a 50-50 joint venture between BHP and Brazilian giant Vale, on Saturday revealed it would shut down the oldest two of its three pellet plants until mid-January, “at which time the situation in the markets will be reassessed”.
Mining merger would boost competition in Brazil
Resource-rich Brazil is in the crosshairs of world mining giants as they race to uncover new deposits to feed red-hot demand for metals from fast-growing economies such as China.
Analysts say the possible mining sector takeover of Rio Tinto by BHP Billiton would boost competition for CVRD on its home turf in Brazil, where some of [...]
MMX Seeks About $1.4 Billion of State Loans for Brazilian Mine
MMX Mineracao e Metalicos SA, the Brazilian mining company controlled by billionaire Eike Batista, will seek about $1.4 billion of state development bank loans for its Minas-Rio iron-ore project in Brazil.
The loans will help the company and partner Anglo American Plc, the world’s second-largest mining company, build the $2.35 billion Minas-Rio iron-ore project, Paulo Gouveia, [...]
