exports

Poor conditions in the coal industry continue to hamper mining developments as North Queensland Bulk Ports cancels its Dudgeon Point Coal Terminal project.

Iron ore production is surging in the Pilbara with Port Hedland recording a new tonnage record for the largest departure of ore on a single tide.

BHP Billiton will invest heavily in energy and food as it follows China on its transition from a construction-led economy to a consumption power-house.

BHP Billiton has cut 100 jobs from its iron ore headquarters in Perth as the company continues to focus on cost and productivity gains amidst feeble commodity prices.

Rio Tinto’s CEO Sam Walsh said the company is well-placed to ride out the current price rout gripping iron ore, but warned if the value plummets to $US80 a tonne, others would not be as lucky.

As the value of iron ore fell further to prices not seen since 2012, a group of mining bosses, including Andrew Forrest, told a conference the price slump will be short-lived.

Iron ore has continued its slide south of the $US100 a tonne mark, dropping to $US96.80 overnight as China’s central planning agency said the country’s high steel demand period had passed.

Hastings Funds Management and its backer, China Merchants, have won a bid to lease the Port of Newcastle for $1.75 billion.

Manufacturing Australia has re-stated its warning that a lack of intervention in Australia’s gas market will see many industry jobs lost.

The price of iron ore fell to an 18-month low as China signalled that it would cut off credit to inefficient steel mills.

An 8.3 per cent fall in the price of iron ore hammered Australian miners yesterday as investors looked to unload stocks.

Rio Tinto has announced its first rough diamond tender of 2014, including the extremely rare, pink stones from Argyle mine in Western Australia.

Authorities have taken a massive seizure of illegally mined iron ore at the Mexican seaport of Lazaro Cardenas.

Fortescue Metals Group has more than tripled its half-year profit to a record $US1.71 billion, as cost cutting measures and expansion plans pay off for the world’s fourth largest iron ore miner.

Glencore and BHP have suspended shipments at their ports as Cyclone Dylan bears down on the North Queensland coastline.

Australia will earn over $21 billion from iron ore exported in the last quarter of 2013 with the steelmaking ingredient set to make more than double the revenue of coal.

Queensland Premier Campbell Newman said opening up the Galilee Basin to mining would be worth $60 billion and create 15,000 jobs, stating it was a top priority for his government.

Environmental group GetUp have released a video showing children playing on a coal covered beach in Indonesia, a reality they claim will come to fruition in North Queensland if a coal port development is allowed to go ahead at Keppel Bay.

According to BC Iron’s managing director, iron ore prices will remain above $US100 a tonne for the next two years, with the expected cash cow to come off the back of stabilised prices labelled as “money for jam”.

Glencore says the development of Berth 8 at the Port of Townsville has injected more than $20 million into the North Queensland economy.