Iron Mining

'No surge in sight for international iron ore prices'

Iron ore prices could edge down next year, according to one leading mainland metals industry figure. Photo: Reuters

International iron ore prices will at best be steady and likely move lower next year despite a sharp rebound in the past two months, according to industry executives and analysts.

Tuesday, 6 November, 2012, 4:24am

Russian iron ore miner IRC seeks expansion funds

IRC chairman Jay Hambro says his firm is not worried about sales of its iron ore because it has low production costs. Photo: Jonathan Wong

IRC, an iron ore miner in Russia's far east that serves the northeast China market, is braving tough capital market conditions to complete a new round of financing by the end of the year to fund its expansion projects.

27 Aug 2012 - 5:06am

The man who juggles life in three places

George Jay Hambro, a former investment banker and the son of a stockbroker turned mining magnate, shuttles between his home in London, iron ore mines in Russia, corporate offices in Hong Kong and steel mills on the mainland.

28 Apr 2012 - 12:00am

Iron ore firm eyes HK$197m in HK IPO

China Zhongsheng Resources, the largest privately owned iron ore producer in Shandong province, plans to raise as much as HK$197 million from an initial public offering in Hong Kong.

'The stock market remains low recently,' said Li Yunde, the firm's chairman. 'But after operating for more than a decade our firm has grown and our business is stable.'

17 Apr 2012 - 12:00am

Ore processor Hanking to double capacity by 2015

Iron ore producer China Hanking plans to more than double its ore-processing capacity by 2015, as it puts two new mines into operation.

The Liaoning province-based firm aimed to have an annual processing capacity of 11.4 million tonnes in 2015, chief executive Pan Guocheng said.

17 Mar 2012 - 12:00am

Fears supersized carriers may corner market

When two shipyards in South Korea and China held naming ceremonies earlier this year for two 400,000 deadweight tonne iron ore carriers, they signalled a shift in the dynamics of the global ore transportation market.

1 Aug 2011 - 12:00am

Miner makes fourth try at I.P.O.

Australian mining company Resourcehouse is making its fourth attempt to list in Hong Kong, aiming to raise as much as US$3.63 billion (HK$28.2 billion) despite fluctuating commodity prices and concerns about the company's profitability.

18 May 2011 - 12:00am

Sichuan iron ore miner digs up 3b yuan budget to double its resources

China Vanadium Titano-Magnetite Mining, a major producer of iron ore in Sichuan, plans to spend three billion yuan (HK$3.5 billion) in the next three to five years to acquire mines and virtually double its resources.

Executive director Yu Xingyuan yesterday said the budget will be funded by its own cash inflow from operations, averaging one billion yuan annually.

16 Mar 2011 - 12:00am

Push to boost profit margin in steel sector

The central government hopes to more than double the percentage contribution of iron ore imports from overseas mines in which it has invested to improve the mainland steel industry's paltry profitability, says an industry veteran.

24 Feb 2011 - 12:00am

Australia profits from mainland's rapid rise

Australian Consul General Les Luck, who will give the opening address at today's gathering, is a veteran Asia-Pacific watcher - particularly regarding his nation's bilateral relationship with Beijing.

China is now Australia's largest trading partner, with two-way trade having increased by 15.1 per cent last year to A$85.1 billion (HK$656.3 billion).

29 Oct 2010 - 12:00am

Consumerism fuels mainland's need for coal and ore imports

Rising consumerism will continue to fuel the mainland's demand for imported iron ore and coal, said the head of Hong Kong-headquartered dry bulk shipping company Courage Marine.

Hsu Chin-chien, chairman of the Singapore listed company, said it also 'wouldn't be a bad idea' if China built a strategic reserve of iron ore to help even out price fluctuations.

9 Oct 2010 - 12:00am

Sharp drop in mainland iron ore imports forecast

Iron ore imports into the mainland could fall dramatically by the end of this year as government curbs on electricity consumption by the country's steel mills start to bite and mills cut steel production.

16 Sep 2010 - 12:00am

Cheering mining tax cut is applauding public's own defeat

Australia's government may make more concessions on its mining tax to iron ore miners after an industry meeting ...

Reuters, July 6

Somewhere over a billion years ago, a long-standing ocean current flowing eastward from what is now Africa carried dissolved iron until it reached a shallow sea where primitive algae grew in formations called stromatolites.

8 Jul 2010 - 12:00am

Ore giants accused of supply-cut threat

The China Iron and Steel Association (CISA) has accused the world's three big iron ore producers - Vale, BHP Billiton and Rio Tinto - of threatening to cut off supplies unless mainland mills agreed to their price-increase demands.

Luo Bingsheng, a deputy chairman of the association, said the mining giants had asked for price rises of between 90 per cent and 100 per cent.

29 Apr 2010 - 12:00am

2-month boycott urged for iron ore importers

China's Iron and Steel Association (CISA) has called on the country's iron ore importers to impose a two-month boycott on supplies from Vale, BHP Billiton and Rio Tinto, in protest at what it views as a price monopoly.

5 Apr 2010 - 12:00am