BHP up on iron ore outlook

By Staff reporter / March 21, 2018 / www.mining-journal.com / Article Link

Western Australia iron ore asset president Edgar Basto said the company's South Flank iron ore project was scheduled to be submitted for board approval mid-year and if approved, Mining Area C would become the world's largest stand-alone iron ore mining and processing centre.

Fellow diversified major Rio Tinto (LN:RIO) closed up 1.3% in London yesterday after announcing a debt reduction programme and agreeing to sell its stakes in two Queensland coal projects to Glencore (LN:GLEN) for US$1.7 billion.

Glencore however closed down 0.27%.

Meanwhile iron ore major Vale (BZ:VALE3) closed up slightly in Brazil.

Over in Toronto, Barrick Gold (CN:ABX) was down 1.94% as the US dollar gold price hovered around the US$1,314 mark ahead of a possible rate hike from today's US Federal Reserve FOMC meeting.

Among the juniors, Silver Bear Resources (CN:SBR) rose 8.7%, despite no news since January when it received a hazardous materials licence for its Mangazeisky property in Russia, which it said at the time would allow it to start hot commissioning followed by first silver production this quarter.

Recent News

Gold Becomes Largest Metals Market

May 26, 2025 / www.canadianminingreport.com

Gold stocks surge on metal gain, Amex boosts Perron resource

May 26, 2025 / www.canadianminingreport.com

Global trade tensions ease and inflation continues to decline

May 19, 2025 / www.canadianminingreport.com

Gold stocks down as metal slumps and equities rise

May 19, 2025 / www.canadianminingreport.com

Big Gold has another strong quarter, but some signs growth cooling

May 12, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok