Brazil’s worsening COVID-19 crisis and the reduced shipment of iron ore from the South American country have led to a surge in global iron ore prices on the back of resilient demand from China.
Metro Mining expects to put back its planned $51.4 million Bauxite Hills expansion amid market uncertainties sparked by the COVID-19.
Australian commodities have continued to be on demand throughout April despite exports slipping from record-high levels in March.
Panoramic Resources has found a saviour in Western Areas as part of plans to raise up to $90 million to undertake development activities prior to re-starting the Savannah mine in Western Australia and to repay debt.
Fortescue Metals Group has diversified its asset portfolio further into copper by investing $C1.38 million ($1.5 million) in Candente Copper, which owns a large-scale open pit project in Peru.