Latest news with #ironore
News.com.au
5 hours ago
- Business
- News.com.au
Guy on Rocks: The monster of a project brewing at Iron Bear
Guy on Rocks' is a Stockhead series looking at the significant happenings of the resources market each week. Former geologist and experienced stockbroker Guy Le Page, director, and responsible executive at Perth-based financial services provider RM Corporate Finance, shares his high conviction views on the market and his 'hot stocks to watch'. This week on Guy on Rocks, host Guy Le Page dissects the major iron ore project brewing under Cyclone Metals in north Quebec. Tune in to hear more. While Cyclone Metals did not collaborate on this video, it is a Stockhead advertiser at the time of publishing. The views, information, or opinions expressed in this video are solely those of the author and do not represent the views of Stockhead. Stockhead has not provided, endorsed or otherwise assumed responsibility for any financial product advice contained in this article. Viewers should obtain independent advice based on their own circumstances before making any financial decisions.
Reuters
3 days ago
- Business
- Reuters
Iron ore pessimism subsides despite looming Simandou supply
SINGAPORE, May 30 (Reuters) - The prospects for iron ore prices are improving thanks to a lower than expected global surplus this year, analysts and traders say, though looming new supply from the giant Simandou project in Guinea remains a long-term downside risk for prices. Analysts and traders have cut their oversupply forecasts for this year to between 20 million and 30 million metric tons, from 50 million tons earlier this year, according to more than a dozen interviews at the flagship Singapore International Ferrous Week conference this week. That is because demand has been surprisingly resilient so far this year thanks to robust steel exports as buyers stocked up amid signs of an escalating global trade war, while cyclones disrupted supply in major producer Australia. In the first four months of 2025, China's iron ore imports slid 5.5% year-on-year while its crude steel output ticked up 0.4%, official data showed. Iron ore prices have held well above $90 per ton, below which high-cost miners struggle to break even, despite trade tensions between the world's top two economies that have fueled concerns about the outlook for steel demand. That has led analysts and traders to revise up their bearish-case pricing scenarios to between $80 and $85 per ton versus $75 or lower at the start of the year. Medium term demand for iron ore should remain firm because China's young fleet of blast furnaces will require iron ore for at least another decade, said analysts. "There won't be any big reduction in the number of blast furnaces in China by 2035 from the perspective of the life cycle of the currently running equipment, meaning that iron ore procurement will hover at a relatively high level," Long Hongming, a professor from Anhui University of Technology, told the conference on Tuesday. Simandou, one of the world's largest high-grade iron ore mines, will start shipping ore in November, and its entry into the global market is expected to aggravate the supply glut starting 2026. However, the increasingly hostile attitude of Guinea's military government, which recently cancelled 129 minerals exploration permits and is locked in a standoff with Emirates Global Aluminium, raised concerns among traders, miners, analysts and steel mills at the conference in Singapore. Participants questioned whether the government's activist stance could affect how smoothly the project will be able to ramp up to its full production of 120 million tons a year. Simandou is a joint venture between Rio Tinto ( opens new tab, the world's largest iron ore miner, and Chinese companies including China Baowu, the world's largest steelmaker by output.
Zawya
3 days ago
- Business
- Zawya
Oman: Hafeet Rail and Brazil's Itaminas ink pact for iron ore logistics solutions
Oman - Hafeet Rail, the cross-border railway developer connecting Oman and the UAE, has signed an agreement with Itaminas Comércio De Minérios S.A., one of Brazil's leading iron ore producers marks a pivotal strategic move towards enabling an integrated, and sustainable logistics ecosystem leveraging the Hafeet Rail network to link key ports and industrial zones, boost logistical efficiency and bolster the iron ore and steel production industry in both nations. The collaboration also aims to cultivate a robust and efficient supply chain solution powered by Hafeet Rail's cutting-edge infrastructure and connectivity, particularly Sohar Port's rail-connected facilities and crucial role in iron ore import and value-added processing, thanks to its established advanced infrastructure, ongoing expansion plans, and seamless integration with the Hafeet Rail network. Construction on the Hafeet Rail project is advancing in both Oman and the UAE, where groundwork and railbed preparation are well underway and structural works on major bridges and tunnels have begun, paving the way for seamless connectivity between the two nations. The project's ongoing development reflects close and strong coordination between stakeholders and local authorities, ensuring the achievement of this vital cross-border project's objectives. Itaminas specializes in high-grade iron ore production, currently boasting an annual output of 6.5 million tons, with environmental permits allowing for an expansion to 15.5 million tons annually. The company plans to export a significant share of this production to the Middle East via Brazil's Port of Sudeste, reinforcing its ambition to play a major role in the region's iron and steel sector. As part of its long-term growth strategy, Itaminas is actively exploring the establishment of segments of its value chain in the GCC, capitalizing on the region's infrastructure, energy resources, and strategic location. This collaboration reinforces the growing integration between Oman and the UAE while exploring how Hafeet Rail's cross-border network can support potential industrial developments across both countries, enabling a seamless logistics corridor that links ports with inland processing facilities serving both global and regional steel players seeking efficient, sustainable, and scalable logistics solutions for their operations in the region. Hafeet Rail is a joint venture between Etihad Rail, ASYAD Group, and Mubadala Investment Company. Hafeet Rail is the first regional cross-border railway network, connecting the Sultanate of Oman and the United Arab Emirates to enhance economic growth and improve the efficiency of the transportation sector in the region.
Zawya
4 days ago
- Business
- Zawya
Hafeet Rail and Itaminas sign agreement to advance sustainable iron ore logistics solutions
Abu Dhabi, UAE – Hafeet Rail, the cross-border railway developer connecting Oman and the UAE, has signed an agreement with Itaminas Comércio De Minérios S.A., one of Brazil's leading iron ore producers. This agreement marks a pivotal strategic move towards enabling an integrated, and sustainable logistics ecosystem leveraging the Hafeet Rail network to link key ports and industrial zones, boost logistical efficiency and bolster the iron ore and steel production industry in both nations. The collaboration also aims to cultivate a robust and efficient supply chain solution powered by Hafeet Rail's cutting-edge infrastructure and connectivity, particularly Sohar Port's rail-connected facilities and crucial role in iron ore import and value-added processing, thanks to its established advanced infrastructure, ongoing expansion plans, and seamless integration with the Hafeet Rail network. Construction on the Hafeet Rail project is advancing in both Oman and the UAE where groundwork and railbed preparation are well underway and structural works on major bridges and tunnels have begun, paving the way for seamless connectivity between the two nations. The project's ongoing development reflects close and strong coordination between stakeholders and local authorities, ensuring the successful achievement of this vital cross-border project's objectives. Itaminas specializes in high grade iron ore production, currently boasting an annual output of 6.5 million tons, with environmental permits allowing for an expansion to 15.5 million tons annually. The company plans to export a significant share of this production to the Middle East via Brazil's Port of Sudeste, reinforcing its ambition to play a major role in the region's iron and steel sector. As part of its long-term growth strategy, Itaminas is actively exploring the establishment of segments of its value chain in the GCC, capitalizing on the region's infrastructure, energy resources, and strategic location. This collaboration reinforces the growing integration between Oman and the UAE while exploring how Hafeet Rail's cross-border network can support potential industrial developments across both countries, enabling a seamless logistics corridor that links ports with inland processing facilities serving both global and regional steel players seeking efficient, sustainable, and scalable logistics solutions for their operations in the region. About Hafeet Rail: Hafeet Rail is a joint venture between Etihad Rail, ASYAD Group, and Mubadala Investment Company. Hafeet Rail is the first regional cross-border railway network, connecting the Sultanate of Oman and the United Arab Emirates with the aim of enhancing economic growth and improving the efficiency of the transportation sector in the region.
Times of Oman
4 days ago
- Business
- Times of Oman
Hafeet Rail, ITAMINAS sign agreement to develop sustainable logistics solutions for steel industry
Abu Dhabi: Hafeet Rail, the developer of the cross-border railway project between the Sultanate of Oman and the United Arab Emirates, has signed a cooperation agreement with Itaminas Comércio de Minérios, one of Brazil's leading iron ore producers. This agreement marks a strategic step toward establishing an integrated and sustainable shipping system leveraging Hafeet Rail's network to connect major ports and industrial zones, enhancing logistical efficiency and supporting the iron and steel industry in both countries. The collaboration aims to develop a reliable and efficient transport network utilizing Hafeet Rail's modern infrastructure while capitalizing on the pivotal role of Sohar Port in importing and processing iron ore, thanks to its advanced facilities and ongoing expansion plans to increase capacity. The port's integration with the Hafeet Rail network further strengthens this initiative. Construction of the Hafeet Rail project is progressing rapidly along the railway route between Oman and the UAE, with ongoing groundwork, leveling, and site preparation. Major bridge and tunnel construction has also commenced, paving the way for seamless connectivity between the two nations. This progress reflects close coordination between relevant authorities and local governments, ensuring the achievement of the objectives set for this vital cross-border project. Itaminas specializes in producing high-quality iron ore, with a current annual production capacity of 6.5 million tons and environmental permits allowing expansion to 15.5 million tons annually. The company plans to export a significant portion of its production to the Middle East via Brazil's Sudeste Port, as part of its efforts to strengthen its presence in the region's iron and steel sector. Itaminas is also exploring the possibility of establishing parts of its value chain in GCC countries, leveraging the region's advanced infrastructure, energy resources, and strategic geographic location. This cooperation underscores the deepening integration between Oman and the UAE and highlights the potential of the Hafeet Rail network to support future industrial projects in both countries. By creating an integrated logistics corridor linking ports to industrial and commercial hubs, the network will serve global and regional steel companies seeking efficient, sustainable, and scalable logistics solutions in the region.
