County Iron Financial News

Rio Tinto negotiated a liability agreement likely to cap its payout exposure if Gina Rinehart loses a multibillion-dollar legal battle with another of Australia’s richest women.

Israel’s war with Hamas has revived dormant U.S. interest in producing munitions for Israel’s Iron Dome missile defense system, U.S. Army and industry officials said, a development that would help a U.S.

₹414.95 apiece on BSE. KIOCL stock price touched intraday high of ₹476.40 and low of ₹413.55. According to technical analysts, KIOCL stock price has given significant returns in last three month.

(Reuters) — China's exports and imports shrank at a slower pace for a second month in September, customs data showed on Friday, adding to the recent signs of a gradual stabilisation in the world's second-biggest economy thanks to a raft of policy support measures.

BHP’s chief commercial officer Vandita Pant is optimistic China’s housing market policies could buoy already strong demand for iron ore, generating “strong momentum” for the steel-making commodity into next year.

Vedanta Ltd. with a target price of Rs 250.

Iron ore billionaire Andrew Forrest is mourning his father, Don Forrest, who died aged 95 on the family cattle station in Western Australia.

Increased steel production in China is pushing iron ore prices higher but resulting in lower margins for Australian steel makers including BlueScope.

By Clara Denina

Vedanta Resources has appointed South African mining veteran Chris Griffith to run its base metals unit, including its recently regained Zambian copper mines. Griffith stepped down as chief executive of Gold Fields in December, after a short stint at the Johannesburg-based gold producer, following an unsuccessful bid to buy Canadian Yamana Gold. Much of Griffith's career has been at Anglo American where he ran Kumba Iron Ore and was instrumental in restructuring and turning around Anglo American Platinum . Griffith will head Vedanta's base metals unit, including zinc mines in Namibia and South Africa, an iron ore business in Liberia and will have oversight over processing businesses in the Middle East and India. A mining engineer, Griffith will probably be more focused on restoring Konkola Copper Mines to profitable operation after the Indian company was given back control of the assets by Zambian authorities after years of protracted battle over the ownership. «I look forward to driving innovation, operational efficiency and sustainable growth across Vedanta's base metals businesses, creating KCM as a cornerstone asset for the company and growing the group internationally,» he said in a statement. Vedanta has pledged to invest about $1 billion in the Zambian operation, where some of its underground mines «need immediate recapitalisation», Mines Minister Paul Kabuswe said on Sept.

NMDC share price jumped over 5 per cent to hit its fresh 52-week high of ₹150 on BSE in intraday trade on Thursday after an upward revision in iron ore prices. The stock opened at ₹142.90 against the previous close of ₹142.25 and rose 5.45 per cent to its one-year peak of ₹150. In a BSE filing on Thursday (September 14), the State-owned company, which is also the country's largest iron ore miner, said that the prices of iron ore with effect from September 14, 2023, has been fixed at ₹4,950 per tonne for lump ore and at ₹4,210 per tonne for fines.

₹4,915 per tonne. The last price revision by the company was in mid-August, which was a cut in lump ore and fines price by 6-7% to ₹4,650 per tonne and ₹3,910 per tonne, respectively. For iron ore prices to see a meaningful upside movement, the demand for steel needs to rise adequately.

Vedanta Ltd on Wednesday incorporated a new subsidiary called Sesa Iron and Steel Limited in the state of Goa for handling iron and steel business, as per regulatory filings. «Sesa Iron and Steel Limited is incorporated for growth projects and to undertake expansion of its operations,» the company mentioned in a regulatory filing with the stock exchanges. Vedanta Group's Sesa Goa Iron Ore is also based in the Western state and is engaged in exploration, mining and processing of iron ore. Iron ore is a key raw material for producing iron and steel.

One is the guy who ran due diligence on Andrew Forrest and Fortescue Metals that pulled off one of Australia’s best deals, while the other is recently departed Federal Reserve vice chair and member of an influential family that helped developed a large chunk of the modern-day United States.

Pragyan Rover confirmed the presence of Sulphur on the lunar surface. ISRO said that the Laser-Induced Breakdown Spectroscope (LIBS) instrument onboard the Pragyan Rover unambiguously confirmed the presence of Sulphur (S) on the lunar surface near the south pole.

confirmed the presence of Sulphur (S) on the lunar surface near the south pole. Not just Sulphur, the Pragyan rover has also detected the presence of Aluminium, Calcium, Ferrous (Iron), Chromium, Titanium, Manganese, Silicon and Oxygen, the space agency said.

By David Lawder

Iron ore mining Navratna NMDC will operationalise its domestic coal and gold mines, while also pursuing overseas mineral assets, including those for Lithium in Australia. Responding to a query from ET, NMDC's Chairman and Managing Director (additional charge), Amitava Mukherjee said the mining company's lithium mining plans are at an early stage and feasibility studies will take over a year. In addition to being India's largest iron ore producer, NMDC has been involved in exploration of copper, rock phosphate, limestone, magnesite, diamond, tungsten and beach sands.

Ministry of Defense Wednesday revealed that the US Government approved the sale by Israel of the country's «David's Sling» anti-missile defence system to Finland. After receiving approval, the Israeli MOD, the Finnish MOD & Rafael Advanced Systems — the Israeli defence contractor that develops the system — will participate in a ceremony to sign a procurement agreement worth approximately 316 million Euros (USD 344 million).

BEIJING (Reuters) — China's industrial profits extended this year's double-digit pace of declines into a sixth month as waning demand took a toll on companies' profit margins, bolstering the case for additional policy support measures.

(Reuters) — Rio Tinto (NYSE:RIO) reported a near 34% drop in first-half underlying earnings and slashed its interim dividend on Wednesday, as easing iron ore prices offset an uptick in shipments from Pilbara operations.