Global Markets: War on coal making the world’s top mine owners a lot richer

The world’s war on coal is making its biggest producers a lot richer, at least for now. Advertisements

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Global Mining: Vale makes boldest iron ore oversupply move yet

The import price of 62% Fe content ore at the port of Tianjin declined more than 2% to trade at $56.20 per dry metric tonne on Wednesday, a near-eight week low, according to data supplied by The Steel Index.

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Mining & Environment: “BHP, Vale not shielded from dam disaster repercussions,” say lawyers

When BHP Billiton and Vale started a joint iron-mining venture in rural Brazil nearly 40 years ago, the mining giants created a new corporate entity: a limited-liability company that, in theory, protected its owners from litigation in case of disaster.

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Mining & Environment: BHP Billiton hits seven-year low in wake of Brazil disaster

Shares in BHP Billiton (ASX:BHP) fell sharply on Sydney Monday, touching a seven-year low, as the mining giant took an additional hit from the tailings dam disaster at the Samarco iron ore minein Brazil, which co-owns with Vale (NYSE:VALE).

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On Mining.com: Australia’s Prime Minister vows iron ore probe into BHP, Rio

Australia’s Prime Minister Tony Abbott has backed a special parliamentary inquiry into the country’s iron ore industry, saying it was important to discover whether BHP Billiton (ASX:BHP) and Rio Tinto (LON:RIO) have behaved in a “predatory” way, severely affecting the economy.

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Global Markets: Iron ore price rockets by 6%

The spot price of iron ore roared ahead on Wednesday despite all three of the biggest producers of the steelmaking material reporting record-setting output growth. The 62% Fe import price including freight and insurance at the Chinese port of Tianjin added $2.10 or 4.1% to $52.90 a tonne on Wednesday, the highest since end-March according to data provided by The SteelIndex. 

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Global Mining: Moatize Vale is 4th in the ranking of the world largest mining companies

BHP Billiton remains the world’s mining on various criteria. In revenue from mining, this company has been followed by Rio Tinto, Glencore and Brazilian Moatize coal miner Vale in the list of 100 world largest mining companies prepared by Mining Journal (MJ), published by the same group on NMB.

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Global Mining: With iron ore prices in free fall, S&P’s warns of imminent downgrade for several miners

The risk rating agency Standard & Poor’s said on Monday it may cut in two or three weeks the notes of risk of several renowned mining due to lower prices estimated for iron ore in this and the coming years.

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Global Mining: “Stop complaining about a supply glut and take charge” — BHP, Rio to small iron ore miners

The world’s two largest mining companies BHP Billiton (ASX:BHP) and Rio Tinto (LON:RIO) once again defended Tuesday their strategy of increasing iron-ore output at a time of falling prices and global oversupply. The man in charge of BHP’s massive iron ore business, Jimmy Wilson, said in a statement the company’s ‘robust’ results confirm BHP’s strategy is just right.

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