Rio Tinto Lowers 2021 Iron Ore Shipments Forecast on Tight Western Australian Labor Market

Australian mining giant Rio Tinto Group (RIO) on Friday reduced its 2021 Pilbara iron ore shipments forecast as the COVID lockdowns, Supply crunch were further hampered by a tighter labour market in Western Australia. These have all led to a delay of the completion of a new greenfield mine at Gudai-Darri.

Record High Chinese Coal Futures Prices After Biggest Coal Producing Region Floods

Coal prices have risen unabated with supply chain disruptions, China has been particularly badly hit and that just got more critical. Floods closed 60 of the 682 coal mines in Shanxi province, 30% of China’s production.   Torrential rains has led to flooding and expanded mine shutdowns in China’s biggest coal producing region, Shanxi province. In a market already squeezing higher this latest news sent Thermal coal futures to a new intraday record after trading opened Monday. Beijing is ina … Continue reading “Record High Chinese Coal Futures Prices After Biggest Coal Producing Region Floods”

Glencore Ebitda Soared as Coal Prices Have Tripled Since August 2020

Coal prices have soared with supply chain disruptions, the Chinese trade war with Australia and material shortages. By September 2021 thermal coal price have tripled from a year ago seeing Glencore’s ebitda run rate soar with prices.

Resource Companies To Pay For Environment Rehabilitation In Australia

The Australian state of Queensland will unveil proposed resource regulations and an “insurance fund” to pay for the remediation of old mines. The aim is for resource companies, not taxpayers, to pay for the rehabilitation of the environment.

Norsk Hydro Sees Brazil Alumina Refinery Restart Later In Mid 2019

Norway’s aluminium producer Norsk Hydro reported higher than expected earnings on Tuesday boosted by higher aluminium and alumina prices. $NHYDY results came after both Alcoa and Aluminum Corp of China warned on tariffs and trade. Brazil still weighs.

Australian Mining Productivity and Safety Soars With Driverless Iron Ore Trains

The much heralded driverless AutoHaul Iron Ore Trains have made their first delivery since Rio Tinto was approved for autonomous delivery back in May at a cost of $940 million. The 280 km trip carrying 28,000 metric tons was completed Tuesday.

Rio Tinto Approved For Massive Autonomous AutoHaul Iron Ore Trains

Mining giant Rio Tinto has been approved by the Australian Office of the National Rail Safety Regulator to operate the world’s first heavy haul, long distance autonomous rail operation for it’s ironore operatioin in Western Australia. $RIO says AutoHaul will improve safety, productivity and lower costs. 

Aluminum Prices Boost Norsk Hydro But Brazil Environmental Scandal Sours

Norway’s aluminium producer Norsk Hydro reported higher than expected earnings on Wednesay boosted by higher aluminium and alumina prices. $NHYDY results came after both Alcoa and Aluminum Corp of China missed expectations.