IN CASE YOU MISSED IT: 5 key stories from February 6

Here are five Fastmarkets MB stories you might have missed on Wednesday February 6 that are worth another look.

Brazilian miner Vale has declared force majeure on a number of iron ore and pellet contracts with customers following the halt of its Brucutu mine in the state of Minas Gerais, the company said on Tuesday February 5.

Ghana Manganese has been ordered to cease operations by Ghana’s minister of lands and natural resources due to inconclusive data.

Aurubis AG is searching for strategic alternatives for its flat-rolled product business after the proposed sale of the division to peer Wieland Werke was rejected by the European Commission, the German copper producer said on February 6.

Russian steelmaker Severstal plans to start construction of new blast furnace in 2019, using additional volumes of pig iron for its own needs, chief financial officer Alexey Kulichenko said in a conference call on February 5.

International mining companies that oppose the new mining code in the Democratic Republic of the Congo are a lot closer to resolving their outstanding issues than they were a year-ago, but work remains to be done, the chief executive officer of Canadian miner Barrick said.

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Fastmarkets proposes to discontinue the converted price assessments for the following markets:
Fastmarkets has discontinued the following converted price assessments:
Fastmarkets is proposing to amend the index specifications of its 62% Fe iron ore port index to more closely reflect the chemical composition of mainstream mid-grade ores produced from Australia’s Pilbara region.
The consultation, which is open until October 28, 2022, seeks to ensure that our audited methodologies and price specifications continue to reflect the physical markets for alumina, aluminium, cobalt, copper, lithium and manganese ore, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.
Fastmarkets is inviting feedback from the industry on its pricing methodology and product specifications for non-ferrous materials, as part of its announced annual methodology review process.
Fastmarkets wishes to clarify in this pricing notice its current methodological approach to Russian brands in its metals and mining pricing assessment process after Russia’s unprovoked invasion of Ukraine.
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