Iron Ore Market
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October 2023-Â John Welborn, the chairman of Fenix Resources Ltd, communicates with Thomas Warner from Proactive after the iron ore manufacturer disclosed that it had safeguarded the complete right to mine and export up to 10 million dry metric tonnes of iron ore from the high-grade Beebyn-W11 iron ore deposit, not so apart from its present Iron Ridge Project in the Mid-West part of Australia. Welborn provides some context, stating that the company has generated nearly 3 million tonnes of iron ore since starting mining in 2020. The organization flourishes a completely incorporated business model, given to its haulage fleet and port logistic services. The brand-new announcement discloses that Fenix has safeguarded the rights from the Sinosteel Midwest Corporation to mine an extra 10 million tonnes from the Weld Range, particularly from the Beebyn-W11 Iron ore deposit. Welborne highlights the enterprise's control over the three fundamental mechanisms of iron ore production: port pathway, shipping, and material. While the iron ore worth remains a concern, Welborne stays positive regarding Fenix's future and its capacity to reward shareholders. He further added that they are instantly going to continue mining agreement pathways and look at possible growth of the company's present production rate and certainly a substantial mine life extension.
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October 2023-Â Jindal Steel & Power Co. and Venezuela's government have contracted a contract for the Indian company to proceed with the nation's biggest iron-ore producing facility, as per a person with knowledge of the matter.
Key Companies in the Iron Ore market include
- Vale
- Rio Tinto
- BHP
- Fortescue Metals Group Ltd
- Ansteel group corporation limited
- ArcelorMittal
- METALLOINVEST
- Cleveland-Cliffs Inc
- HBIS GROUP
- Anglo American
