Iron ore leaps above US$70 per tonne

Iron ore continues from strength to strength as it reaches US$70.46 per tonne. This continual upwards movement extends this year’s gains to 61.7 per cent, and marks the third largest surge since spot
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Rio Tinto pays debt early

Rio Tinto has launched a cash tender for the early repayment of US$1.5 billion for its 2017 and 2018 notes. The miner is aiming to reduce gross debt levels through the repayment of near maturing debt,
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Iron ore rallies above US$60

Iron ore has defied predictions and risen above US$60 per tonne overnight. The metal rose 4.1 per cent to US$62.85 per tonne at Qingdao on Tuesday, taking the year’s total gain to 44 per cent. Northen
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Downer completes debt extension

Downer EDI has completed a partial extension of the company’s $400 million syndicated debt facility. The move reduces the company’s future refinancing risks. The facility previously had a maturity
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Peabody files for bankruptcy

Another major coal miner has collapsed, as Peabody files Chapter 11 bankruptcy in the US. Peabody Energy has filed pleadings, known as ‘first day’ motions, with the US Bankruptcy Court. “These motions
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