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BAMIN wins bid to operate FIOL railway, a boost to ERGs iron ...
Sat, 10 Apr 2021 00:00:00 GMT
Eurasian Resources Group (ERG or the Group), a leading diversified natural resources producer, and its wholly-owned Brazilian subsidiary BAMIN, today announced that BAMIN has won the auction on the Bovespa (So Paulo Stock Exchange) to complete and operate the first 537 km stretch (FIOL Stage 1) of the FIOL (East-West Integration) railway. FIOL will provide a high capacity and low cost link between ERGs Pedra de Ferro mine in Caetite and its Porto Sul port in Ilhus, Bahia state. The

High iron ore prices spur mining, protests in Australias Tasmania
Fri, 19 Mar 2021 00:00:00 GMT
Buoyant iron ore prices have paved the way for mining in Australias southern Tasmanian state, where developer Venture Resources project has come under pressure from conservationists over potential impact on a wilderness area. Australia is the worlds top producer of iron ore, almost all of which comes from the ancient Pilbara region in the countrys west. But strong Chinese demand and Brazilian supply constraints have propelled iron ore prices to decade-highs above $175 a tonne this

Vale's (VALE) Shares Gain as Q4 Earnings Beat Estimates
Tue, 02 Mar 2021 15:15:03 GMT
Higher iron prices and production led to year-over-year improvement of 85% in Vale's (VALE) fourth-quarter earnings, which also beat the Zacks Consensus

Brazils Bahia Mineracao starts production at iron ore mine ...
Thu, 04 Feb 2021 00:00:00 GMT
Brazilian miner Bahia Mineracao, a subsidiary of Kazakhstans Eurasian Resources Group, started production at a mine in northeastern Brazil with expected 2021 output of 1 million tonnes of iron ore, its chief executive said on Tuesday. Bahia Mineracao plans to double output at the Pedra de Ferro mine in Bahia state to 2 million tonnes of iron ore by next year, CEO Eduardo Ledsham said in an interview. The mine shipped its first cargo of ore in January, with first-quarter sales only to the

BHP bumps up 2020-21 iron ore guidance on Samarco restart, softens ...
Thu, 21 Jan 2021 00:00:00 GMT
Mining giant BHP bumped up its fiscal 2020-2021 (July-June) iron ore production guidance following the restart of its joint venture Brazilian Samarco operation, while its metallurgical coal output is expected to be in the lower end of the forecast range due to weather impact. BHP now expects iron ore production of 245 million-255 million mt for the current fiscal year, which is up from the previous range of 244 million-253 million mt. The added tonnes are all due to Samarco, while BHPs

Tenaris to invest in hydrogen steelmaking in Italy
Thu, 14 Jan 2021 00:00:00 GMT
Tubemaker Tenaris has signed an agreement with Italian energy suppliers Edison and Snam for a project aimed at using hydrogen in some steelmaking operations at the Tenaris Dalmine seamless tube plant in Italy. The project will focus on studying the supply of hydrogen to the plant and adapting the mill to use the gas

Vales disappointing iron ore output adds fuel to scorching price ...
Fri, 04 Dec 2020 00:00:00 GMT
The hottest major commodity of 2020 is getting even hotter, with iron ore boosted by news that one of the worlds biggest producers will not meet its output targets this year. Brazils Vale said on Wednesday that it would produce 300 million to 305 million tonnes of iron ore this year, down from a prior forecast of at least 310 million. Vale also said it expected 2021 output in a range between 315 million to 335 million tonnes, below what analysts had been expecting. The mining giant is

Tenaris & Petrobras Extend Long Term Agreement in Brazil
Wed, 25 Nov 2020 20:25:00 GMT
Tenaris has renewed its agreement with Petrobras, reinforcing the long-standing partnership between both companies in Brazil. Rig Direct is a fully Tenaris has renewed its agreement with Petrobras,

Vale evacuates more in Minas Gerais, state rejects settlement ...
Wed, 18 Nov 2020 20:18:00 GMT
About 34 more people in Brazil's Minas Gerais state will be evacuated after Vale raised the emergency protocol for the Brucutu iron ore mines Norte/Larangeiras dam to level two. The rise in the

Talks stall between Vale and Minas Gerais on Brumadinho compensation
Wed, 18 Nov 2020 05:27:00 GMT
Negotiations between Brazilian mining giant Vale and Minas Gerais state on compensation to be paid for the Brumadinho tailings dam collapse have reached an impasse. The state is looking to receive

US Steel Stock Staring At A 45% Drop
Tue, 17 Nov 2020 19:16:00 GMT
Our dashboard Trends In U.S. Covid-19 Cases provides an overview of how the pandemic has been spreading in the U.S. and contrasts with trends in Brazil and Russia. The US raw steel capacity

Mariana dam disaster victims to appeal court ruling to drop BHP ...
Tue, 10 Nov 2020 04:04:00 GMT
The victims of the Mariana dam disaster in Brazil plan to appeal a judgement after a UK court decided not to proceed with their 5bn ($6.6bn) case against mining major BHP. The appeal was against a

Number of South American industry news reports: 12
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