A remarkable 31% lift in iron ore fines production by Vale, the huge Brazilian miner, has signalled what could be the start of a downturn in global iron ore prices in 2021. In fact, if Vale continues boosting supply this quarter, pressure on prices will emerge in November and December.
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Delays stemming from the pandemic amid ebbing demand conditions confront Rio Tinto, while there is also work to do to improve perceptions about its cultural sensitivity.
Read MoreThe departure of certain executives is, in Macquarie’s view, a key step in regaining stakeholder trust after the Juukan Gorge incident. A search for a replacement to the outgoing CEO is the catalyst for the stock in the short term.
Read MoreRio Tinto has surprised the market with news of an executive cleanout. CEO, Jean-Sébastien Jacques, and two other senior executives are set to leave the mining giant over the decision to blow up a 46,000-year-old Aboriginal sacred site in the company’s iron ore tenements in WA’s Pilbara.
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Iron ore exports to China recovered in August, but were still far short of the record 46.2 million tonnes shipped from Port Hedland in June, the Pilbara Ports Authority reported on Tuesday.
Read MoreJuly’s slump in Australian iron ore exports to China from the world’s largest export port at Port Hedland has passed without too much comment, so was it a one-off or was it something deeper?
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Shares in Perth-based mining services company Monadelphous have dropped to a four-year low as broking analysts cut their ratings on the stock in the wake of news of a $493 million damages suit from Rio Tinto.
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Shares in Perth-based engineering company Monadelphous Group dropped more than 10% on Monday after news broke that it was being sued by Rio Tinto over a fire at one of Rio’s iron ore export terminals at Cape Lambert in the Pilbara.
Read MoreRio Tinto has lifted its mid-year dividend payout despite a 20% fall in net profit with the company now more hostage to iron ore than at any other time in its history.
Read MoreRio Tinto has finally given investors an idea of the size and grade of its huge Winu copper-gold deposit in WA’s Eastern Pilbara and reckons it can get a mine underway by 2023.
Read MoreRio Tinto will be releasing its 2020 interim financial results on July 29. UBS expects earnings to decline -6% year on year driven by declining commodity prices.
Read MoreRio Tinto reported Q2 iron ore shipments slightly of 86.7Mt, slightly below UBS forecasts. However, mined copper exceeded forecasts due to record throughput at Escondida. Aluminum and Alumina production were 1.2% below the broker forecast.
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Shares in Rio Tinto have edged higher after it revealed a solid quarterly and half-year performance for its key Pilbara iron ore business.
Read MoreIron ore exports hit record levels in the June quarter and in the year to June, according to figures from the Pilbara Ports Authority. That performance helped total iron ore exports for the year to June from the two major ports – Port Hedland and Dampier jump 3% to a record 717.3 million tonnes.
Read MoreRio Tinto will wind down its NZ aluminium smelter business following the conclusion of the strategic review because it is no longer viable because of the aluminium price and energy costs. The wind-down is expected to be completed in August 2021.
Read MoreRio Tinto surprised yesterday by revealing – in the midst of a recession – that it will close its ageing New Zealand aluminium smelter with the loss of 1,300 direct jobs and thousands more in other sectors.
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The gradual recovery in global economies coupled with curtailed supply are likely to be supportive of Australia’s iron ore prices in the coming months, writes Luke Smith, Portfolio Manager for Ausbil Investment Management.
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As we move toward the close of a stunning financial year (for most companies), the sharemarket is bracing for a shocking reporting season. James Dunn takes a closer look at what we can expect.
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The steel-making ingredient that burst out of the blocks with the onset of the China boom during the early 2000s, has defied the sceptics and generated an earnings bonanza for the mining heavyweights that dominate the industry. Gavin Wendt digs into the dynamics driving the iron ore price.
Read MoreIn news that will further rattle global iron ore prices, the office that enforces labour laws in Brazil’s Para state is stepping up an investigation into potential shortcomings in the way mining giant Vale has protected its workers from the coronavirus.
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Global iron ore prices have surged by nearly 5% on news that Vale, the big Brazilian miner, had been forced to shut three mines in its southern mining complex because COVID-19 infections were spreading.
Read MoreGlobal iron ore prices have topped the $US100 a tonne level for the first time in 10 months on growing concerns over supplies from Brazil as the COVID-19 pandemic grows in the iron ore producing regions in the north and south of the country.
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With negative rhetoric surrounding Australia’s trade relationship with China, what is the outlook for Australia’s iron ore miners?
Read MoreGlobal iron ore prices have leapt a surprisingly strong 5% as doubts re-emerged about the security of Brazilian iron ore supplies in the wake of the continuing spread of COVID-19 across that country.
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Scott Kelly, Manager of the DNR Capital Australian Equities Income Portfolio, provides an update on his firm’s outlook for dividends in the Australian equity market.
Read MoreRio Tinto’s iron ore exports rose 5% in the March quarter compared to the same time last year.
Read MoreGovernment action in South Africa has led to Rio Tinto shutting down operations and developments there for three weeks. Quebec has called mining and smelting essential, but only at minimum rates. The broker has adjusted accordingly and also adjusted for commodity price and forex movements.
Read MoreSo what will BHP, Rio Tinto and Fortescue Metals do now that their Brazilian iron ore rival, Vale, has raised the possibility of curbing or suspending iron ore shipments because of the growing threat of the COVID-19 virus?
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Iron ore prices look set to continue this week’s rally after Vale, the big Brazilian miner was forced to close an 11 million tonnes a year mine.
Read MoreRio Tinto will shower shareholders with billions of dollars in cash with a record final dividend for 2019 to go with the earlier record interim as high iron ore prices helped the company maintain earnings at a high level.
Read MoreGlobal iron ore prices have gotten their second boost in a week after Rio Tinto revealed that Cyclone Damien caused so much damage to the company’s Pilbara mines that it has lopped six million tonnes from the miner’s projected 2020 output.
Read MoreThe company delivered on its 2019 guidance and has set forecasts for iron ore shipments in 2020 at 330-340mt.
Read MoreRio Tinto might be forecasting production growth for its key WA iron ore operations for 2020, but any increase will be marginal compared with 2019 and the mooted target still remains under the optimistic 350 million tonnes set a year ago for 2019.
Read MoreAs we enter 2020, it would appear the market is expecting the iron ore price to go down significantly, given the price of Australian mining stocks.
Read MoreCiti estimates global growth will be modestly higher in 2020, which is bullish for commodities. The broker is positive about hard coking coal in the first quarter of 2020, expecting the price to average US$170/t over the year.
Read MoreMacquarie has tweaked its iron ore shipment expectations for Rio Tinto, lifting 2019 slightly but reducing 2020 slightly on a slower ramp-up at Koodaideri. The completion of Rio’s new iron ore developments should reduce costs in the medium term, the broker suggests, but for now expected costs rise 10%.
Read MoreThe mini investment boom in the Pilbara iron ore province of WA continues with Rio Tinto approving a $1 billion $US749 million investment in its existing Greater Tom Price operations (100% owned) operations to extend the life of the mine.
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A glance through the latest expert views and predictions about commodities. Large cap resources; copper; base metals; iron ore; and coal.
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With a backdrop of low interest rates where should investors seek yield? Informed Investor sat down with Scott Kelly, Portfolio Manager for the DNR Capital Australian Equities Income SMA to find out.
Read MoreWhile the free cash flow yield looks attractive, and the company has a balanced and predictable capital allocation strategy, Morgan Stanley believes it is insufficient to warrant an upgrade.
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