Fortescue Metals Group chief executive Elizabeth Gaines is backing the strength of iron ore, predicting demand for the steel-making commodity will continue to grow.
Mike Henry says the timing of first ore from its 80Mtpa sustaining project in the Pilbara is perfectly timed to cash in on record iron ore prices.
WATCH: The traditional owners of the 46,000-year-old rock shelters open up about their heartbreak over losing the site ahead of the one-year anniversary of its destruction by Rio Tinto.
Danielle Le Messurier
McKay Drilling has been sold to Major Drilling as part of an $80m cash and scrip transaction amid WA’s bubbling mining services sector.
Soaring steel production in China shows there’s no sign of the industry cooling despite government attempts to rein in output from last year’s record of more than one billion tonnes.
Productivity and safety are key issues for BHP’s head of WA iron ore Brandon Craig, who says he still feels positive about the iron ore story.
Having raced to more than $US233/t, the steel-making commodity has given up more ground after China ramped up efforts to defuse the latest price surge.
Arch rivals BHP, Rio Tinto and Vale have launched an initiative aimed at electrifying their fleets of massive haul trucks to cut emissions.
Futures markets point to iron ore price falling sharply as speculative trading in the commodity reaches fever pitch near record levels.
The surging cost of commodities to industries and households is a threat to China’s economic growth and the purchasing power of its citizenry.
Barnaby Joyce said without iron ore and other key resources, the Budget would have been worse for wear.
Booming iron ore exports are supercharging Australia’s pandemic recovery, helping to deliver the Federal Government a company tax windfall this year that’s almost $9 billion higher than forecast.
The two parties will work on a pre-feasibility study that could kick-start stalled magnetite project in the Mid-West via the use of shared infrastructure.
Iron ore futures have cooled today sending the share prices of the big miners lower after the benchmark price skyrocketed nearly 9 per cent overnight to a fresh record of $US230.56/t
The predicted iron ore price will be revised up in tonight’s Federal Budget, with the Morrison Government conceding it will remain high for some time.
Lanai Scarr & Peter Law
BHP and Rio Tinto have hit new peaks on the back of China’s insatiable demand for the steel-making commodity.
Iron ore is starting the week with $US200/t in its rear-vision mirror and a strengthening recovery in the steel industry suggesting further gains.
A quicker-than-expected global recovery from COVID-19 has created soaring demand for mineral and agricultural commodities.
Rio Tinto chief executive Jakob Stausholm has indicated his keenness for the miner to develop its mine portfolio.
Record prices for the steel-making commodity appears to show no signs of abating.
With an absence of protestors and confrontation, it was a quiet day for the miner’s board.
Comment, Sean Smith
Rio Tinto's new CEO Jakob Stausholm has told Australian shareholders he wants the miner to show more consistent performance.
The mining giant has copped an embarrassing ‘first strike’ from shareholders in a protest vote against $60m paid out to three senior executives who parted ways with the miner over the Juukan debacle.
The Haousts are selling Go West Tours to listed group SeaLink for $113.5m.
© West Australian Newspapers Limited 2020