Vale Dam Fallout Deepens With More Mine Closures
Expect even more pressure on global iron ore supplies and prices after Vale was forced to shut two more iron ore mines in southern Brazil.
Read MoreExpect even more pressure on global iron ore supplies and prices after Vale was forced to shut two more iron ore mines in southern Brazil.
Read MoreVale management is in turmoil after the CEO of the world’s biggest iron ore miner stepped aside following pressure from Brazilian authorities over the Minas Gerais dam collapse.
Read MoreFortescue Metals Group has tripled its interim dividend payout to 30 cents a share for the six months to December after earnings comfortably topped market forecasts.
Read MoreShares in BHP, Rio Tinto, and Fortescue Metals group should continue running higher today with global iron ore prices hitting two-year highs in Asian trading yesterday after Chinese buyers returned to the market after last week’s holiday break.
Read MoreWith stocks of iron ore at ports and mills low after the holidays, Chinese buyers will chase spot ore cargoes from today and could push the already high price of standard 62% ore past $US100 a tonne.
Read MoreAustralia will be the beneficiary of the terrible mining dam disaster in Brazil which has killed more than 80 people with upwards of 300 missing. In fact, it would be true to say there is a silver lining for Australia in Brazil’s pain – a surge in iron ore prices that will, in turn, boost export receipts and government tax revenues.
Read MoreAnother weak performance by Fortescue Metals Group in the six months to December 31, with shipments of 82.7 million tonnes the lowest for at least four years.
Read MoreGlobal iron ore prices and the share prices of Australia’s biggest iron ore exporters will jump as Vale, the big Brazilian exporter takes 10 of its mines and their 40 million tonnes of ore offline while it replaces potentially dangerous tailings dams.
Read MoreFirst iron ore from the West Pilbara fines will be introduced to the market in December, underpinning a robust outlook for Fortescue Metals in FY19.
Read MoreAnything but the obvious in the commentary from Fortescue Metals on its first-quarter performance yesterday.
Read MoreClever timing from Fortescue Metals with its somewhat surprising news that it was going to conduct a 12 month $A500 million share buyback.
Read MoreSo will Andrew ’Twiggy” Forrest blink and accept the takeover bid for his shares in Atlas Iron from rival Perth iron ore billionaire, Gina Rinehart, or will he play hardball and remain a locked in investor?
Read MoreA glance through the latest expert views and predictions about commodities. Base metals; platinum; steel/iron ore; and major miners.
Read MoreFortescue Metals Group has slashed final dividend by half as its revenues and profits were hit by the move of Chinese steel mill buyers to source higher quality iron ore and impose price cuts on the ore than Fortescue mines and exports.
Read MoreFortescue Metals Group has retained enough shares in Atlas Iron to enable it to frustrate Gina Rinehart’s Hancock Prospecting from moving to 100% control of Atlas.
Read MoreFortescue Metals Group has met its forecasts for iron ore shipments for the June 30 2017-18 financial year, after shipments accelerated in the June quarter.
Read MoreFortescue Metals has moved to try and boost the quality (and the returns) on its WA iron ore exports to China by approving the development of a $US1.28 billion ($1.7 billion) mine and rail project in Western Australia.
Read MoreLower shipments, higher costs and falling prices – not the best of combinations for iron ore miner Fortescue Metals Group as it enters the final three months of the 2017-18 financial year.
Read MoreFalling iron ore prices will only increase the already heavy pressure on Fortescue Metals Group’s pricing and returns, even after it yesterday confirmed what everyone in the industry has surmised – that its lower grade ore was being priced at a smaller percentage of the benchmark 62% iron ore price in northern China.
Read MoreFortescue Metals Group slid after the company yesterday revealed weaker than expected results for the six months to the end of last December as the company was hit by steep price discounts for its lower quality iron ore paid by Chinese steel mill customers.
Read MoreFortescue Metals Group (FMG) has reported a slight rise in iron ore shipments in the three months to September, while it again cost costs but has been forced to trim its estimated price forecasts for the full year.
Read MoreFortescue Metals Group has more than doubled its net profit, to $US2.1 billion ($2.7 billion), lifted dividend and pledged to reward shareholders with a bigger dividend in the current financial year.
Read MoreShareholders in Fortescue Metals Group (including the biggest, Chairman Andrew Twiggy Forrest) can look forward to a sharp increase in dividend when the company reports its 2016-17 profit a week next Monday.
Read MoreAustralia’s third iron ore miner, Fortescue Metals Group is still talking cost cutting as it maintains production guidance for 2017-18 at 170 million tonnes – little changed than the 170.4 million shipped in the year to June this year.
Read MoreAs expected Fortescue Mining (FMG) lifted interim dividend thanks to a quadrupling of earnings from the first half of 2015-16 – but local investors were not that fussed yesterday.
Read MoreFortescue Metals (FMG) shares hit their highest levels in six years yesterday after several brokers upped their price targets for the stock following Tuesday’s solid quarterly and half yearly update.
Read MoreFortescue has confirmed it is on track to hit the top end of its iron ore export guidance and possibly exceed it.
Read MoreFortescue Metals (FMG) has done a bit of ‘bottom fishing’ in buying out BC Iron’s 75% interest in a suspended iron ore mine for just a $1, ending a seven-year arrangement.
Read MoreFortescue Metals Group topped market forecasts on its final dividend payout, and easily met profit hopes from investors for the year to June 30.
Read MorePeak iron ore for Fortescue Metals Group (FMG)?
Read MoreHigher iron ore prices this year, a campaign of continuing cost cutting and some aggressive debt reduction has seen Fortescue Metals Group shares head towards a strong end to the financial year next week.
Read MoreFortescue Metals Group seems on the way to boosting iron ore exports more than forecast – at a time when prices have hit levels never expected by the company or the industry in 2016.
Read MoreRatings group, Moody’s Investors Service has downgraded Fortescue Metal’s (FMG) credit rating, ignoring the planned deal with giant Brazilian miner, Vale and the recent rebound in world iron ore prices.
Read MoreShares in Fortescue Metals Group were roughed up again for a second day yesterday as the company was forced to defend how it announced the controversial link up with the huge Brazilian miner Vale.
Read MoreFortescue yesterday stunned markets with news of a share and product tie up with Vale, the huge Brazilian iron ore miner, and in doing so, sunk the local market’s strong rebound, sending it lower and ending a six day rally.
Read MoreFortescue Metals Group (FMG) shares eased yesterday after the country’s Number 3 iron ore miner and exporter maintained interim dividend payout to shareholders after reporting a slight dip in earnings for the six months to December.
Read MoreFortescue Metals Group (FMG) has lifted production and lowered costs, but seen its product suffer a bigger pricing discount during the December quarter as the global iron ore market has become more oversupplied.
Read MoreFortescue Metals Group (FMG) has paid down another tranche of debt and reduced its net debt position by $US600 million, after a strong quarter of cash generation and slightly lower sales.
Read MoreFortescue Metals Group (FMG) shares went for a little run in yesterday’s market surge on the oddest of stories that the iron ore miner has been approached to sell stakes in its operations.
Read MoreShares in Fortescue Metals (FMG) plunged sharply yesterday as the slide in stockmarkets (especially in China) overcame any encouragement investors could find in what was a weak 2014-15 earnings report that contained the surprise news of a small dividend payment.
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