UNHCR slams Brazil’s iron ore dam fixes

Via UNHCR today: Extractive industries 15. In January 2019, 270 people died when Vale’s Córrego do Feijão tailing dam in Brumadinho collapsed.13 Most of those killed were Vale workers having lunch in the cafeteria located directly below the tailings dam. The force of the toxic mud dismembered bodies, and shattered what was a bucolic community.


Daily iron ore price update (softness)

Iron ore prices for September 7, 2020: Spot still strong. Paper too. China imported 100.4mt of iron ore in August: I still think we’re roughly at peak imports. Steel exports were buggered, as you’d expect: Empty apartment sales are softening:   To wit: China Evergrande Group kicked off a nationwide sales promotion with its deepest ever


Daily iron ore price update (empty apartments pile up)

Iron ore prices for September 4, 2020: CISA steel output remains outrageous: The key driver, empty apartment sales, remain strong: And it’s not just sales, it’s inventory, at SCMP: China’s biggest developer are likely to step up price discounting this year to clear a growing pile of unsold homes, with authorities sounding another alarm in their


Simandou not such a “Pilbara killer”

Via AFR comes an article titled China’s African iron ore adventure will be filler, not killer: China’s ambition to build an alternative iron ore industry in Africa will push down iron ore prices by a maximum of $US8 ($11) per tonne, hosing down suggestions it will be a “killer” for Australia’s biggest export industry. …SMB-Winning


Should Aussie miners be selling iron ore in yuan?

Via SCMP: Iron ore miners‘ and steel producers’ increasing use of the Chinese yuan will increase its internationalisation, reduce China’s vulnerability to any possible US financial sanctions, and help the domestic economy in line with the new “dual circulation” strategy. By using the yuan rather than the US dollar to price iron ore, this will


Aussie households slowly kill gas cartel with solar

The market will respond. With the Australian Government’s protected gas cartel driving power prices mad from 2015 guess what? At Bloomie: Australians’ fervent embrace of rooftop solar is forcing the grid to become more flexible. The shift has carved out daytime demand for traditional generation and caused bigger fluctuations in electricity use across the day,


How Australia could break into civil war

Via the FMG true believers: Sitting atop a cash machine disguised as Australia’s third-largest iron ore miner, Fortescue Metals Group chief executive Elizabeth Gaines was justifiably emphatic about the importance of Australia’s increasingly testy trade relationship with China. “We can’t lose sight that we are a trading nation,” she implored, adding that the miner “didn’t


Australia must ready for collapse of iron ore trade to China

According to BofA: Foreign firms looking to move their manufacturing processes outside of China in the wake of coronavirus could face $1 trillion in costs over five years, according to new Bank of America research. However, the bank argues that such a move would likely be beneficial for companies in the long term. Even before