Rio Tinto posted an 8 percent drop in first-quarter shipments compared with the previous quarter due to weather disruptions in Australia and Canada.» Read More
The uranium surplus in the market has dragged on prices, but that’s not stopping some people from making bets on the radioactive element longer term.
BHP said expansion of its iron ore operations in Australia was ahead of schedule, as the miner posted a robust 9 percent rise in ore output to a record annual 187 million tonnes.
Australian coal miners are steeling themselves for years of production cuts as swelling shipments from international rivals lower hopes of a recovery in coal prices.
While losses in commodity currencies have remained relatively limited amid the recent rout in physical prices and resources-related stocks, investors could be in for a "rude shock."
BHP Billiton's new chief executive will take a pay cut as miners struggle with tougher market conditions, and has stripped out a layer of top executives.
Japan and Australia led gains as Asian indices ended mixed on Wednesday.
Disappointing Chinese gross domestic product (GDP) data led major Asian benchmarks lower on Monday, as investors fretted over slowing growth in China.
The iron ore shipping hub Port Hedland escaped the brunt of a powerful cyclone that swept across the northwest Australian coastline on Thursday, with emergency officials lifting evacuation alerts as the storm veered east.
A powerful cyclone headed for Australia's Port Hedland, which handles a fifth of the world's seaborne-traded iron ore, stalled off the coast but was set to make landfall later on Wednesday.
Australia's Fortescue Metals Group, the world's No. 4 iron ore producer, reported a 40 percent fall in first-half profit as the price of the steel-making ingredient fell sharply and costs rose.
Global miner BHP Billiton appointed the head of its non-ferrous business as its new chief executive on Wednesday to replace Marius Kloppers.
Asian stocks were mostly lower on Monday in holiday-thinned trade with many of the region's markets shut for the Lunar New Year holidays.
Rio Tinto said on Monday an Australian regulator has ruled that the firm's key iron ore rail lines do not have to be opened to rivals, reinforcing the miner's grip on the global market.
Asian shares edged up on Friday after China's trade data for January beat forecasts to underscore a recovery trend, but prices were capped by investors seeking to book profits before next week's Chinese New Year holidays.
Asian shares wiped earlier gains on Friday as a tepid Chinese manufacturing report dented sentiment, leaving investors on tenterhooks ahead of U.S. nonfarm payroll data due later in the day.
Fortescue Metals Group, the world's fourth largest iron ore miner, lifted shipments by 32 percent in the December quarter from a year ago, nearly all bound for Chinese steel mills.
BHP Billiton, the world's biggest mining company, boosted its iron ore output by 3 percent in the December quarter, as it races to supply more of the raw material to Chinese steelmakers despite signs of a softening market.
Australia's Port Hedland, which handles about a fifth of the world's seaborne-traded iron ore, will reopen on Wednesday after being spared the brunt of a cyclone that has also shut other major ports in Western Australia.
Mining firms including BHP Billiton and Anglo American are likely to follow Rio Tinto's lead in writing down underperforming assets by as much as $10 billion, as low prices and rising costs eat into valuations.
Iron ore prices have nearly doubled over the past four months, delighting producers, yet the surge is hindering expansion of iron ore mines in Western Australia, the site of the world's largest known deposit.