• First quarter global
iron ore production of 59 million tonnes (46 million tonnes attributable) was 10 per cent higher than the first quarter of 2011.
Demonstrated capability to deliver growth with a compound annual growth rate in
iron ore production of 14.8 per cent over the period from 1999 to 2007.
• Record global
iron ore production of 65 million tonnes was achieved in the quarter (51 million tonnes attributable) and 245 million tonnes for the full year (192 million tonnes attributable).
• Global
iron ore production of 49 million tonnes attributable (62 million tonnes on a 100 per cent basis) was up 12 per cent on the second quarter of 2010 and up 17 per cent on the first quarter of 2011.
• First half
iron ore production of 120 million tonnes (94 million tonnes attributable) and shipments of 115 million tonnes were both four per cent higher than the first half of 2011.
Not exact matches
The value
of Australian
iron ore exports is expected to fall next year as strong growth in
production volumes is offset by a slump in prices to a forecast $ US52.10 per tonne in 2016.
Contractors Maca, Mineral Resources and Qube Holdings have downplayed the impact
of Atlas
Iron's decision to halt iron ore production over the coming month, while transport contractor McAleese Group is still evaluating the likely imp
Iron's decision to halt
iron ore production over the coming month, while transport contractor McAleese Group is still evaluating the likely imp
iron ore production over the coming month, while transport contractor McAleese Group is still evaluating the likely impact.
ANALYSIS: WA's resources - focused business community is eagerly awaiting the next round
of figures for
iron ore production costs.
COCKATOO Island, touted as a stunning new tourist resort in the heart
of WA's Kimberley region, will be the site
of a revitalised $ 7.4 million resource project by Portman Mining Limited aimed at boosting its
iron ore production.
BHP maintained guidance for
production of 275 million to 280 million tonnes
of iron ore in the fiscal year to June 30.
Unexpected maintenance reliability problems with BHP's car dumpers — the giant machines that can pick up and empty a fully loaded rail car
of ore — forced the resources giant to reduce
iron ore production guidance for 2017 - 18 to between 272 million tonnes and 274 million tonnes, just down from its previous guidance
of 275 million tonnes and 280 million tonnes.
Production is running at record levels in the financial year to date and BHP produced 58 million tonnes
of iron ore during the quarter, up 8 per cent on the previous corresponding period.
The company will seek to lease out Ethel Creek and Marillana station in the heart
of the
iron ore rich Pilbara region
of Western Australia as it winds up cattle
production.
Even though I know nothing about the
iron ore market, and certainly not as much as the CEO
of Fortescue, I know arithmetic, and even before I heard Minack's discussion
of the global increase in
production, I simply could not get the arithmetic that connected Chinese interest rates with Australian
iron ore exports to work otherwise.
I have never been even remotely an expert either on
iron and steel
production or on the Australian economy, but recent action in the
iron ore markets and a vibrant debate within Australia has, in the past three weeks, set me up for several planned and unplanned meetings with Australians — some old friends, some fund managers and bankers, some government officials — who remembered some
of the comments I made a few years ago about Australia and
iron ore and who wanted to discuss future prospects.
Analysts expected the
iron ore to be supported by the high Chinese marginal cost
of production post c2012.
Rio lifted shipments
of iron ore from its flagship Pilbara operations by 5 per cent in the March quarter, while bauxite and copper
production also jumped.
There are several reasons for this including over
production of iron ore to maintain market share and an aggressively growing lithium ion battery business which requires cobalt in existing chemistries.
The mining sector was one such example; with yesterday's gains on the back
of the expansion
of the Chinese coast mystic product still fresh in the minds, Rio Tinto announced that their first half
production of iron ore had broken numerous records.
«The steel industry in China boomed from 5 percent
of global steel
production in the late 70s to almost 50 percent today; on the back
of that surge was a voracious appetite for
iron ore» he says.
The ECSC united its six member nations in a single common market for the
production and trade
of coal, steel,
iron ore and scrap metal, abolishing all trade barriers for these products.
Production is running at record levels in the financial year to date and BHP produced 58 million tonnes
of iron ore during the quarter, up 8 per cent on the previous corresponding period.
ACCC Chairman, Rod Sims, has indicated that the ACCC will be looking closely at Andrew Forrest's comments calling for
iron producers to work together to cap
iron ore production, noting that «any attempt by Australian businesses to encourage competitors to restrict outputs is a matter
of grave concern to the ACCC».
Rio Tinto will invest US$ 310 million to assure a sustainable water supply for its
iron ore operations in the Pilbara region
of Western Australia, ensuring a sufficient resource to accommodate the expansion
of annual
production capacity up to the planned 333 million tonnes (Mt / a).
Global
iron ore production for the quarter totalled 62 million tonnes (49 million tonnes attributable), in line with the second quarter
of 2011.
Rio Tinto analysis suggests that around 100 million tonnes
of primarily Chinese
iron ore production had become unprofitable, and sees evidence on the ground that a large proportion
of this has already been curtailed.
• Record global
iron ore shipments
of 239 million tonnes in 2011 were below
production due to extreme weather conditions experienced in the first half
of the year.
• During the quarter,
iron ore production and shipping capacity in the Pilbara increased by a further five million tonnes to 230 million tonnes per annum (Mt / a), following the completion
of the second debottlenecking project at the Dampier port on time and on budget.
Chief executive Tom Albanese said «We had a solid first quarter with increased
production of iron ore, coal, bauxite, alumina and titanium dioxide compared with the first quarter
of 2011.
It is a very different business exposed to a completely different set
of risks (
production risks,
iron ore prices, the mine operator underpaying the royalty).
But seven years later, they still can't seem to bid farewell to all those fond memories
of the good ol' days... How else do you explain, for example, the majors maintaining & even increasing
production in the face
of a (self - reinforcing)
iron ore price collapse.
In Q2
of 2012, Cliffs received $ 128.39 / t for its Eastern Canadian
iron ore production (though the Wabush output receives a higher price than the Bloom Lake output since the Wabush mine produces pellets and BL produces fines; Wabush pellets have elevated manganese and receive a lower price than other pellets).