Ore Mining News

The U.S. Army Corps of Engineers, Detroit District works on unlocking the Great Lakes by providing a much-needed resiliency at the Soo Locks with the construction of the New Lock at the Soo. The New Lock at the Soo will be the same dimensions as the Poe Lock, 1,200 feet long, 110 feet wide and 30 feet deep.Often called the “linchpin” of the Great Lakes navigation system, the Soo Locks are located in Sault Ste. Marie, Michigan between the upper Peninsula of Michigan and the Canadian province of Ontario. The Soo Locks enable bulk carrier vessels to safely bypass the swift-moving St.

China's iron ore imports in April fell to the lowest level in 18 months as poor weather in Brazil, the country's second-biggest supplier, disrupted shipments and some production by miner Vale SA was halted after a mine accident.Arrivals of iron ore, a key steelmaking raw material, were 80.77 million tonnes last month, the lowest since October 2017, data from the General Administration of Customs showed on Wednesday. That compares to 86.42 million tonnes in March and 82.92 million tonnes in April 2018.For the first four months of 2019…

The prospects of dry bulk shippers carrying iron ore from mines to smelters have worsened due to the accident at Vale's Brumadinho dam in Brazil, Golden Ocean said on Tuesday as it presented forecast-beating quarterly earnings.The dam in the town of Brumadinho, which contained tailings, the mud-like byproducts of iron ore mining, burst on Jan. 25, killing at least 166 people and with almost 200 more still missing.Brazil's Vale, the world's largest iron ore mining company, has…

DemandThe improved fundamentals during 2017 are clearly seen in the freight rate levels during the first four months of 2018. Freight rates for Handysize, Supramax and Panamax went up by 25-27 percent as compared to the same period of last year. All three sectors moved from loss-making average earnings in the full year of 2017 to a profitable level in first four months of 2018.Meanwhile, capesize freight rates improved by only 5 percent as compared to the same period last year…

With contraction in vessel supply and healthy demand growth, the dry bulk shipping market is expected to recover from 2017 onwards, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry. An impressive outlook for dry bulk demand coupled with a small orderbook of newbuilds as a percentage of the total fleet capacity will ensure a sustained recovery in the dry bulk market. Earnings in the dry bulk market are expected to improve from 2017 with a narrowing supply-demand gap. Demand is projected to grow at a healthy pace of 3% while supply is expected to grow by about 1% from 2017, making the dry bulk segment an interesting market to invest in. The growth in demand originates from a rise in iron ore and thermal coal trade.

Essar Ports Ltd. (EPL) today announced the taking over of Vishakhapatnam Port Trust’s (VPT) Iron Ore Handling Complex on a Build-Operate-Transfer (BOT) basis, for a period of 30 years. Essar Vizag Terminals Ltd. (EVTL), a wholly owned subsidiary of EPL, will comprise three berths (two outer harbour berths and one inner harbour berth) with a combined capacity of 23 Million Tonnes per Annum (MTPA) which will be developed in two phases. “Enhancing the cargo handling capacity and mechanization of port facilities for efficient management is crucial for long term sustenance. We are very sure that Essar will develop the OHC facility with latest state-of art handling facilities and achieve higher loading rate thereby reducing the overall turn around by at least 50%”- M.T.

BHP Billiton last night celebrated the shipment of its one billionth tonne of iron ore to China with customers, industrial associations, joint venture partners, suppliers and employees in Shanghai. BHP Billiton’s Chief Executive Officer Andrew Mackenzie was joined by President Iron Ore Jimmy Wilson, President HSE, Marketing and Technology Mike Henry, President Coal Dean Dalla Valle and guests to reveal the commemorative plaque to mark the milestone. Mr Mackenzie said BHP Billiton, a leading global resources company, was proud to contribute to the important trading relationship between China and Australia and to the country’s steel industry. “China is of immense importance to BHP Billiton and to Australia,” he said.

Kosmos Energy is set to sign a $400 million "farm-in" agreement with Senegal's state-owned hydrocarbon firm Petrosen and Timis Corp to take a 60 percent stake in the Cayar and St. Louis offshore blocks that they operate, a draft Petrosen document seen by Reuters on Saturday showed. According to the document, Kosmos has committed to drill two exploration wells up to a total value of $240 million. It will then drill a third well, or alternatively a first appraisal well, to a value of another $120 million. Under the terms of the agreement, Kosmos will have a 60 percent stake in the blocks, Timis Corp 30 percent, and Petrosen 10 percent, the draft document said.

During its meeting of March 25, 2014, Belgian shipping company CMB’s board of directors approved the final annual accounts as per December 31, 2013. The consolidated result for 2013 amounts to $49,694,000, compared to $133,954,000 in 2012. Bocimar’s contribution to the 2013 consolidated result amounts to $3,467,000 ($53,196,000 in 2012). CMB pointed out that the capacity of newbuilding deliveries has far exceeded the growth in world seaborne trade for a number of years. Today…

If Australian miners are worried about the dramatic decline in iron ore prices, it doesn't show. At an annual gathering of many of the world's biggest and smallest iron ore producers here the mood is upbeat - as if the heftiest one-day fall in ore prices since the global financial crisis never happened. "Iron ore mining isn't tennis, it's a contact sport," said David Flanagan, chairman of Atlas Iron Ltd. "Sometimes it hurts a bit, like you copped it in the stomach. Iron ore for immediate delivery to China slumped 8 percent on Monday after data showed China's trade balance swung into deficit, amplifying concerns about a slowdown in the world's No. 2 economy and the biggest importer of the steel-making ingredient.

CMB, Compagnie Maritime Belge, is a maritime group with its registered offices in Antwerp. Next to holding activities, the Group's main participating interests are active in the transport of dry cargo (Bocimar) and aviation (ASL Aviation). The group notes in its fourth quarter 2013 financial result that its executive committee has discussed the results recorded for the fourth quarter and the preliminary results for the full year 2013. The consolidated result for 2013 is estimated to be US$49.400.000 (2012: US$ 133.954.000).

Reuters reported that BHP Billiton’s Australian iron ore mines have recommenced work at full operation following a cyclone that battered coastal regions and closed major shipping terminals this week. “Port Hedland, the world's biggest iron ore terminal and used by BHP to export nearly 200 million metric tons of the steel-making material annually, sustained only minor damage from Cyclone Christine and reopened late on Tuesday,” Reuters said. The storm hit Australia's northwestern coast late on Monday with winds recorded up to 100 mph, before weakening as it crossed the Pilbara iron ore mining belt. Reuters also reported that Fortescue Metals Group and Rio Tinto also said their operations were returning to normal. Source: Reuters

The Prime Minister of Russia, Dmitry Medvedev met with with the Director General of Norilsk, Nickel, Vladimir Potanin, to talk about the company's plan to increase geological exploration in the Arctic region, reports Arctic-info. The nickel ore mining company will become a key figure in  the development of the Arctic branch (Taimyr), which has a world class resource base: by 2018, it is planned to increase the extraction of ore to 18.5-19 million tonnes from the current approximately 16.5 million tonnes. The new mines of Taimyr have planned investments of $700 million.

Marine and coastal environment specialists, BMT Oceanica (BMT), a subsidiary of BMT Group Ltd, has commenced its latest project with Pluton Resources Ltd (Pluton) to increase knowledge of marine fauna around the Irvine and Cockatoo Islands off the Kimberley coast of Western Australia. The collection of marine fauna data will assist Pluton to meet their environmental approvals requirements for any expansion plans of mining operations on Cockatoo Island and the possible infrastructure development of iron ore mining on Irvine Island.

China Rongsheng Heavy Industries christened the first of two 380,000 DWT Very Large Ore Carriers built for Oman Shipping deliivers another of the same to Vale S.A. China Rongsheng Heavy Industries Group Holdings Limited today christened the first two 380,000 DWT Very Large Ore Carriers (“VLOC”) built for Oman Shipping Company S.A.O.C. (“Oman Shipping”). The vessels will set for sea trial and enter into the final delivery stage soon. In addition, the Group has also delivered the third 380,000 DWT VLOC to iron ore mining giant, Vale S.A. H.E. Dr.