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Fortescues Iron Bridge to begin production this quarter; Q2 shipments ...
Mon, 30 Jan 2023 00:00:00 GMT
Australias Fortescue Metals Group FMG.AX on Friday confirmed its Iron Bridge Magnetite project was on track to begin production at the end of the March quarter, realising a key strategy to secure better prices for its ore. Fortescue, run by billionaire and iron ore magnate Andrew Forrest, posted a 4% rise in quarterly shipments, underpinned by strength across its key Western Australia iron ore operations. The Iron Bridge project in Western Australias Pilbara region will allow Fortescue to

US Secretary of Labor visits the Voestalpine Training Center ...
Thu, 19 Jan 2023 11:34:00 GMT
In light of the increasing lack of skilled labor, the USA and Austria are intensifying their cooperation and exchanges in the field of dual education. It is for this reason that US Secretary of Labor, Marty Walsh, was a guest today at voestalpine in Linz. He came to view the steel and technology Groups state-of-the-art training center where around 400 apprentices are currently undergoing

Australia's Fortescue quarterly iron ore shipments, costs rise
Wed, 26 Oct 2022 22:37:53 GMT
Reuters - -Australia's Fortescue Metals Group reported a 4.2% rise in first-quarter iron ore shipments on Thursday, boosted by higher production at its key operations in Western Australia, and said rising prices of diesel and labour bumped up costs. The production report from the world's No.4 iron ore miner came against the backdrop of sliding prices of the steel-making commodity as top consumer China's strict COVID-19 curbs and under-pressure property sector have slammed its economy. Last week, rival Rio Tinto forecast annual iron ore shipments at the lower end of its earlier forecast, while BHP said it expected macro-economic uncertainties to continue to affect supply chains, energy costs and labour markets in the short

Rio Tinto, China Baowu to develop Australian iron ore project ...
Wed, 14 Sep 2022 00:00:00 GMT
Rio Tinto Ltd RIO.AX said on Wednesday it would team up with its biggest customer China Baowu Steel Group to develop an iron ore project in Western Australia for $2 billion as it looks to prop up its production from the Pilbara region. The deal comes amid fraught ties between Australia and China the worlds top exporter and buyer of iron ore, respectively with a recent push by Beijing to centralise purchases of iron ore stoking worries of a hit to mining giants such as Rio, BHP Group

Rio Tinto first-half earnings down 29% on weak iron ore prices
Thu, 28 Jul 2022 00:00:00 GMT
Miner Rio Tinto RIO.AX reported a 29% 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 countrys zero-COVID policy curtailing economic activity and weighing on ferrous markets. Mining companies around the world have also been struggling due to a

Australian iron ore miners cautious on Chinas plan to centralise ...
Mon, 25 Jul 2022 00:00:00 GMT
Chinas plan to centralise iron ore purchases has prompted questions whether the move could hit the bottomlines of global mining giants, such as Australias Rio Tinto RIO.AX and BHP Group BHP.AX. China, exposed to international prices of the steelmaking raw material as it must import nearly 80% of its annual consumption of about 1.2 billion tonnes, launched a new state-backed resources company on Tuesday. The China Mineral Resources Group, with registered capital of 20 billion yuan ($3

Guinea halts Simandou iron ore project work again
Tue, 05 Jul 2022 00:00:00 GMT
Guineas mines minister has ordered all work related to the Simandou iron ore mine project halted after the two companies involved missed an extended deadline to agree on a joint venture, a letter seen by Reuters - showed on Monday. Rio Tinto RIO.L and Chinese-backed consortium Winning Consortium Simandou (WCS) had showed a lack of willingness to work on a partnership, Mines Minister Moussa Magassouba said in the letter, which was dated July 3. Despite the significan't concessions the

Top three Aussie miners to shed $11 billion in market value as ...
Mon, 20 Jun 2022 04:52:46 GMT
Australia's big three miners were on track to lose more than A$16 billion ($11.12 billion) in combined market value on Monday at current levels, as a commodities selloff over easing China demand and fears of a global recession deepened. Rio Tinto's Australia-listed shares were set to shed nearly A$2 billion in value, BHP more than A$10 billion, and Fortescue Metals over A$4 billion. Lower output from Chinese steel mills has hit demand for iron ore, while prices of commodities like copper and aluminium have slumped on worries that aggressive interest rate hikes by the U.S. Federal Reserve's and other central banks could tip the global economy into a

Rio Tinto and Salzgitter sign MOU to study using Rio Tinto iron ...
Wed, 08 Jun 2022 00:00:00 GMT
Rio Tinto and the Salzgitter Group have signed a Memorandum of Understanding (MOU) to work together towards carbon-free steelmaking by studying optimisation of Rio Tintos high-quality Canadian and Australian iron ore products for use in Salzgitters SALCOS green steel project in Germany. Under the MOU, Rio Tinto and Salzgitter will explore optimisation of iron ore pellets, lump and fines for use in hydrogen direct reduction steelmaking. The two companies will also explore the potential for

Rio Tinto to develop carbon-free steelmaking with Salzgitter
Wed, 08 Jun 2022 00:00:00 GMT
Rio Tinto andSalzgitter Groupwill jointly study using the miners Canadian and Australian iron ore for Salzgitters SALCOS greensteel smelting project inGermany. The two companies signeda Memorandum of Understanding (MOU) onexploringoptimisation of iron ore pellets, lump and fines for use in hydrogen direct reduction steelmaking projects,Kallanishlearns from Rio Tintos announcement.They will also explore the potential

BHP reports weaker-than-expected iron ore production on COVID ...
Thu, 21 Apr 2022 00:00:00 GMT
BHP Group on Thursday fell short of estimates for iron ore production for the March quarter, as a pandemic-related labour crunch weighed on the miners efforts to boost production in the mineral-rich Pilbara region of Western Australia. The worlds largest listed miner warned June-quarter production of the steel-making commodity is also expected to be impacted by lingering worker absenteeism, but said it remained on track to meet fiscal 2022 costs and volume forecast. Copper production at

Fortescue Community Grants program empowers young Aboriginal ...
Tue, 01 Mar 2022 00:00:00 GMT
Community grants of up to $5,000 are now available to Pilbara based community organisations, with the latest round of Fortescue Metals Groups (Fortescue) Community Grants program now

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