Here's why the iron ore price is tanking

The destruction of iron ore and coking coal prices in the past week has been brutal. Northern China 62% Fe import prices are down more than 12% since last Friday after losing another $4 on Friday to below $60 a tonne. Measured from its February peak, the steelmaking raw material is down a stomach-churning 37%.[…]

Top 50 biggest mining companies

Less red ink more blue sky MINING.com and sister company IntelligenceMine‘s ranking of the world’s 50 largest mining companies based on market value continues to show an industry in recovery. At the end of the first quarter this year the top 50 companies had a combined worth of $842 billion. In total these companies’ added $258[…]

Rio Tinto defers former CEO Walsh bonus over Guinea scandal

Rio Tinto’s (ASX, LON:RIO) former chief executive Sam Walsh has had part of his retirement payout withheld while the group waits for the results of ongoing investigations into payments made to a consultant to gain access to the Simandou iron ore project in Guinea, Africa. The decision, announced as part of the world’s second biggest miner’s[…]

Fresh shake-up at Rio Tinto in aftermath of bribery probe

Mining giant Rio Tinto (LON, ASX:RIO) has once again reshuffled its top management team, replacing a senior executive and adding a new member as the company deals with a probe into a questionable payment made to an external consultant over the Simandou iron ore project in Guinea. Chief executive officer Jean-Sébastien Jacques, who took the helm[…]

Big mining's age of austerity far from over

While precious metals (with the exception of palladium) have suffered a deep sell-off since the surprise outcome of the US presidential elections, the rally in industrial metals appear intact. In a new report BMI Research, a unit of Fitch, says the gains in metal prices this year is set to continue in 2017 thanks to[…]

Mick Davies' X2 Resources fails to deliver, frees investors from commitments

Mick Davis’ X2 Resources, the mining fund once touted as the driver of much-needed investment into the mining industry during the worst of the commodities price rout, has freed investors from their financial commitments after failing to score any deals in three years. Relatively high assets valuations and an investor veto on deals frustrated Davis and his[…]

Met coal price surge could revive giant Mozambique project

The stunning rise in the price of coking coal shows now signs of reversing, and the nearly three-fold rise in the price of the steelmaking raw material since hitting multi-year lows in November appears to be breathing new life into long-shelved projects. Benchmark Australian export metallurgical coal was exchanging hands at $213.20 on Friday, up[…]