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Iron Ore, The Iron Ore Industry
nipper
post Posted: Jun 14 2019, 04:37 PM
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62Fe above $110 a tonne - described as persistent bullishness, it's a problem our Govt would like to continue

https://www.sharecafe.com.au/2019/06/14/iro...y-crunch-fears/

Vale saying they will move to dry processing reveals as much about the nervousness of tailings dam situation. And then the new plant(s) will need to be built. Nothing happens in a day



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Mar 26 2019, 02:11 PM
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In Reply To: blacksheep's post @ Mar 24 2019, 11:02 AM

Vale ordered to halt 13 more dams, Brucutu mine restart delayed
QUOTE
Brazilian mining giant Vale (NYSE:VALE) has been hit by a local court injunction that forces it to freeze operations at 13 of its tailings dams in the country.

The world’s biggest iron ore producer, which is expected to release its fourth-quarter figures on Wednesday, said the order will impact production at its massive Brucutu mine, as it will now take longer than expected to bring it back on line.

Last week, Vale was given the green-light to reopen Brucutu, which has an annual capacity of 30 million tonnes of iron ore, or about 8% of the company's annual output.
Operations at Brucutu, the largest iron ore mine in Minas Gerais state, have been halted for over a month, as part of intense scrutiny from global an local authorities on Vale’s operations following January's dam collapse at the company’s Corrego do Feijão mine, which left at least 300 people dead.

Last week, the miner was given the green-light to reopen Brucutu, which has an annual capacity of 30 million tonnes of iron ore, or about 8% of Vale’s annual output.

News of the injunction come on the heels the company’s shutdown of its Alegria mine, in the Mariana complex of Minas Gerais state, which may remove up to 10 million tonnes of iron ore a year from the market.

It also follows yet another massive evacuation of the communities located by Vale’s Sul Superior Dam, at the Gongo Soco mine, which was found to be in a critical condition in terms of stability.

read more - http://www.mining.com/vale-ordered-halt-13...estart-delayed/



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 24 2019, 11:02 AM
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Here we go again...
Mass evacuations as Brazil's Vale reports dam in danger of collapse
By Diane Jeantet
March 24, 2019 — 10.12am
QUOTE
Rio de Janeiro: Brazilian mining giant Vale says that communities in the south-eastern state of Minas Gerais have been ordered to evacuate after independent auditors found that one of its dams could collapse at any moment.

On Friday, the company raised the level of risk at a mining waste dam in the city of Barao de Cocais to three, the highest grade. According to Brazil's mining and energy secretary, level three means that "a rupture is imminent or already happening".

Residents in a 10-kilometre perimeter of the dam had already been told to leave by state authorities in February after Vale raised risk levels to grade two, a company spokesperson told the Associated Press on Saturday.

read more - https://www.theage.com.au/world/south-ameri...324-p516zy.html


Meanwhile at home (Australia)
Cyclone Veronica poses the biggest risk to the Pilbara in a decade, authorities warn
QUOTE
A red alert was issued on Saturday afternoon and is current for people in or near communities from Pardoo to Mardie, including Port Hedland, South Hedland, Whim Creek, Point, Samson, Wickham, Roebourne, Karratha and Dampier, but excluding Marble Bar.

https://www.abc.net.au/news/2019-03-24/cycl...-coast/10934004
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 20 2019, 09:59 PM
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In Reply To: blacksheep's post @ Mar 20 2019, 06:40 PM

Iron ore futures in China are getting hosed
Read more at https://www.businessinsider.com.au/iron-ore...owHQwRyEJG6G.99



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 20 2019, 06:40 PM
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In Reply To: blacksheep's post @ Feb 28 2019, 10:09 AM

Brazil's Vale to resume work at largest mine in Minas Gerais state
QUOTE
Brazilian miner Vale SA said on Tuesday that a local court had cleared the way for it to resume operations at its Brucutu mine, its largest iron ore complex in the state of Minas Gerais, the country's longtime mining heartland.

Production at Brucutu has been halted since early February when a court order halted the adjoining Laranjeiras dam soon after the collapse of a Vale dam about 150 km (94 miles) away killed some 300 people. Production at Brucutu has been halted since early February

Laranjeiras receives waste material from Brucutu, which has an installed capacity of 30 million tonnes of iron ore, or around 8 percent of Vale's planned annual production in Brazil before the disaster at the upstream tailings dam at Brumadinho.

Vale shares jumped 2.8 percent in Sao Paulo on Tuesday to 51.90 reais each, recovering from a poor performance the day before when another court decision shut two more dams operated by the company.

But the miner also received favorable news on Monday, with a decision from a Rio de Janeiro judge allowing it to resume iron ore shipping at the Ilha Guaíba export terminal in Mangaratiba, from where the company ships some 40 million tonnes of iron ore per year.

Vale said it was waiting for local authorities in the region of the Brucutu mine to be notified about the court decision and allow it to resume work at the complex.

http://www.mining.com/web/brazils-vale-res...s-gerais-state/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Mar 8 2019, 11:29 AM
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extract - Rio Tinto's shares take hit after two analyst downgrades

QUOTE
Iron ore mining giant Rio Tinto's (LON: RIO) shares dropped more than 7% on the London Stock Exchange Thursday, following two consecutive analyst downgrades.

On Wednesday, Swiss bank UBS lowered its Buy rating for Rio Tinto to Neutral, citing a possible downturn in iron ore prices over the next six months.


QUOTE
The latest rating changes are a byproduct of a more cautious stance by the investment banks on the mining sector after a promising start in 2019, especially in the long-term.

Iron ore price has been soaring since the beginning of the year, partly due to Vale’s dam disaster in Brazil and the market fallout. The price surge drove Rio Tinto's stock up over 20%.


http://www.mining.com/rio-tintos-shares-ta...yst-downgrades/



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Mar 4 2019, 03:07 PM
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Chinese steel mills delay iron ore restocking, eye cheaper alternatives
Reuters | 2 days ago |
QUOTE
BEIJING – Chinese steel mills are slowing iron ore purchases and seeking cheaper alternatives to Australian supplies after a steep run-up in prices in February, five mill executives and several traders told Reuters this week.

QUOTE
Non-mainstream sources
Mills are also avoiding major suppliers like Vale and Australian rivals Rio Tinto, BHP Group and Fortescue Metals Group (FMG), and are seeking cheaper ore from small miners in Australia, South Africa, India and Indonesia, said the traders.

"Even mainstream low-grade ore has soared to a level that we can't afford," said a purchase manager at a steel mill in Jiangxi province.

FMG's Super Special Fines, a blend with iron content of only 56.7 percent, is now at a discount of 16 percent to benchmark 62 percent iron ore versus 33 percent last month.

"(Moderating margins) have influenced customers' preferences for specific products and created increasing demand for lower-grade iron ore," said Danny Goeman, Fortescue sales and marketing director, at a conference in Beijing on Wednesday.

Mills are also considering alternatives to iron ore such as iron sands.

The Jiangxi mill purchase manager said it bought iron sand from Indonesia with 56 percent iron content to save on costs.

"Non-mainstream products suddenly became very hot, although more people are asking rather than making actual purchases," said a manager at a major commodities trading house in eastern Zhejiang province.

($1 = 6.6862 Chinese yuan renminbi)

(Reporting by Muyu Xu and Dominique Patton)


Elsewhere - Iron ore prices perk up as Chinese air quality gets hazy
DAVID SCUTT
MAR 4, 2019, 7:36 AM

Read more at https://www.businessinsider.com.au/iron-ore...yKOVj5AAC8L1.99



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 28 2019, 10:09 AM
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In Reply To: blacksheep's post @ Feb 9 2019, 12:10 PM

Moody's cuts Vale's credit rating to junk
Amanda Stutt | about 2 hours ago |
QUOTE
Mining giant Vale (NYSE: VALE) took a hit on Wednesday when Moody's Investor Service downgraded its debt to junk.

Moody’s downgraded the miner’s senior unsecured ratings and the ratings on the debt issues of Vale Overseas Limited. The downgrades remove Vale’s credit rating from the investment range entirely.

“The outlook for all ratings is negative,” Moody’s reported. “These rating actions conclude the review for possible downgrade for Vale's ratings initiated on 29 January 2019 in response to the collapse of the tailings dam at the Córrego do Feijão mine in the city of Brumadinho, state of Minas Gerais.”

read more - http://www.mining.com/moodys-cuts-vales-credit-rating-junk/



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 27 2019, 08:52 PM
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Hot-rolled mess: China's steelmakers hit the skids as car sales slow
QUOTE
BEIJING (Reuters) - China’s steel mills may have taken a wrong turn by adding millions of tonnes of new high-end capacity just as the country’s car sector, a key steel consumer, undergoes its first contraction in decades, cutting metal demand
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read more -https://www.reuters.com/article/us-china-steel-autos-analysis/hot-rolled-mess-chinas-steelmakers-hit-the-skids-as-car-sales-slow-idUSKCN1QG0M1



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 22 2019, 12:18 PM
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Posts: 5,701
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QUOTE
Brazil's mining agency (ANM) has ordered Vale (NYSE:VALE) to suspend operations at its Fabrica and Vargem Grande complexes, as part of an ongoing crack down following last month's deadly dam break at the iron producer’s Corrego do Feijão mine.


QUOTE
[b]The Vargem Grande complex, which accounts for around 13 million tonnes of iron ore per year, had been shut since early February[/b], as part of Vale's previously announced plans to curb 40 million tonnes of output
.
http://www.mining.com/brazil-mining-author...vale-complexes/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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