Iron Ore
Samarco's resumption of operations includes the reopening of a second concentration plant and the inauguration of a new tailings filtration plant.
Beyond capacity expansion, Tata Steel has outlined a strong sustainability agenda, committing to achieving Net Zero by 2045.
It added that Alake also met other investors such as tin manufacturers Woodcross and Gerald Group, fund managers AMG and Business Idea Development, China.
The company is already evaluating the optimal development pathway for the project, considering the new options provided by access to Vale's rail and port logistics.
Benchmark iron ore futures gained 0.7% to $104.70 per ton at 12.11pm in Singapore, after surging 3.4% last week.
China is both the world’s top consumer and producer of the metal.
BHP's iron ore production reached a record 260 million tons in fiscal year 2024, a 1% increase year-over-year.
Outside of China, steel production and demand for iron-ore remain muted so far, BMI pointed out.
Shares of leading iron ore mining companies dropped in Australia, with BHP Group, Fortescue Ltd. and Rio Tinto Group all declining.
Year-to-date the iron ore trade stands at 41 million tons, a decrease of 2.1 percent compared to the same point in 2023.
The business also reinforced its forecast for iron ore shipments for the current fiscal year.
If there is a positive from the September steel production data, it's that the pace of decline slowed from the 10.4% on-year drop in August.
Copper production increased by 4% to 476 kt during the quarter as a result of the mine's better performance at the Escondida location in Chile.
According to Rio Tinto, the company is still on pace to start producing iron ore from its Simandou project in Guinea early in 2019.