Fortescue Metals Group (FMG) made a record $3.19 billion in profit in the 12 months to end June, enabling it to pay out a bumper dividend of AUS$1.14. Surging iron ore prices over the last year helped the Australian iron ore miner more than double its...
BHP’s chief executive Andrew Mackenzie has warned that the rising tide of nationalist sentiment poses a threat to global economic growth and mining sector profitability, despite the company reporting a 2% rise in underlying profit for the full year 2019 and declaring a record dividend. The...
Australia delivered a full-year trade surplus of AUS$49.9 billion thanks to record high exports from the resources sector, which has been boosted by higher commodity prices during the last year. Iron ore was again Australia’s biggest single contributor to exports, delivering $77 billion in revenue over...
BHP produced 63 million tonnes of iron ore in the last quarter of the Australian financial year - a 12% increase on the previous quarter, when operations were reduced by a cyclone that hit parts of Australia. This improved performance in the three months to June...
BHP has become the latest mining giant to consider exiting thermal coal as climate change pressure from investors and activists continues to push companies away from polluting fossil fuels. According to unnamed sources familiar with the matter, BHP is looking at options to divest its thermal...
Vale will take up to 10% of its output offline to decommission 10 dams similar to the one that burst on Friday in the Brazilian town of Brumadinho, killing at least 84 people with hundreds still missing. The decision to cut production was announced by Vale’s...
At least 58 people have been confirmed dead and hundreds remain missing following a tailings dam burst at a Vale iron ore mine in Brazil. The dam burst on Friday unleashed a fatal mudslide of iron ore waste at the Feijao mine in the state of...
Vale SA, the world’s top nickel producer, will acquire fellow Brazilian miner Ferrous Resources in a US$550 million deal that was confirmed by the latter firm’s controlling shareholder Icahn Enterprises LP. Iron ore-focused Ferrous will merge into a company controlled by Vale, according to a securities...
Rio Tinto has become the latest mining company to launch a large-scale iron ore replenishment drive in Western Australia, after it announced it would spend US$1.55 billion to maintain production capacity at two projects. The Anglo-Australian major and its joint venture partners Mitsui & Co and...
Vale has revealed plans to operate its Brucutu iron ore mine in Brazil with a fully autonomous fleet of vehicles next year, following a successful trial of driverless technology. The world’s largest iron ore miner conducted a US$62 million trial which involved the deployment of...