Big Iron Ore Producers Debate Supply-Demand Balance
Industry giants' battle over the iron ore supply-demand balance continued this week. The most recent development came when Rio Tinto CEO Sam Walsh described the idea of boosting prices via a production...
View ArticleIron Ore Price Continues to Drop, Sinking Below $50
The iron ore price has continued to tumble, and came in under $50 per tonne on Thursday.Continue reading...
View ArticleFortescue Cuts Costs More Than Expected to Stay in the Black
Reuters reported that Fortescue Metals Group (ASX:FMG) has managed to stay afloat in a sinking iron ore market by cutting costs down, aiming for a break-even price of $39 per tonne. The company's cost...
View ArticleFMG Slashes Jobs at Cloudbreak
Australian Mining reported that Fortescue Metals Group (ASX:FMG) sacked a number of truck drivers at the Cloudbreak iron ore mine.Continue reading...
View ArticleAustralia Halves Iron Ore Price Forecast in 2015 Federal Budget
The slumping iron ore price has hit those involved in the space hard in the last year, with many companies reducing production and halting new construction. Now the Australian government has gone into...
View ArticleFortescue Metals to Cut Hundreds of Jobs
The Guardian reported that Fortescue Metals Group (ASX:FMG) will be cutting roughly 700 jobs amid low iron ore prices, according to company CEO Andrew Forrest.Continue reading...
View ArticleNew Website Urges Public to Campaign Against Iron Ore Oversupply
Mining Australia reported that a new website called Our Iron Ore, supported by Fortescue Metals Group (ASX:FMG), is urging the public to campaign against industry giants that are oversupplying the...
View ArticleIron Ore Price Boosted as Stocks at Chinese Ports Drop
The iron ore price received a boost on Tuesday when it hit its highest level in more than a week, breaching $61 per tonne. While that's a far cry from the metal's April 2014 price of $115, it's up...
View ArticleChina’s Baosteel Seeks Permission to Invest in Fortescue
CNBC reported that China's biggest steelmaker Baosteel Group Corp. has expressed an interest in Fortescue Metals Group (ASX:FMG) and has applied to Australia's Foreign Investment Review Board (FIRB)...
View ArticleMinerals Council of Australia Launches Iron Ore Website to Counter Claims...
Mining Australia reported that the Minerals Council of Australia has launched its own iron ore website, hitting back against claims made by Fortescue Metals Group (ASX:FMG).Continue reading...
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