The government of Guinea is in the final stages of preparing a tender for blocks 1 and 2 of the Simandou iron ore project, sources close to the matter have told Steel First.

BHP Billiton is running iron ore operations with an “economic rationality” and should not be held accountable for pushing smaller and higher cost producers out of the market, according to a senior executive.

The seaborne iron ore market remained quiet on the Singapore public holiday on Tuesday May 13.

China’s largest steelmaker, Hebei Iron & Steel Group, is planning to set up a 5-million-tpy integrated steel plant in South Africa.

The Australian government expects benchmark prices for hard coking coal to average at about $150 per tonne fob Australia in 2014, in response to “a plenitude of seaborne supply”.

Spot iron ore prices could come under further market pressure as Chinese mills cancel contracted shipments after making cuts to their own steel production.

Guinea’s parastatal mining company Soguipami will repay a $25 million loan made by British Virgin Island-registered investment firm Palladino, finance minister Kerfalla Yansane said on Friday June 22.

Charlotte Radford looks back at the past seven days’ metals market news, as covered by Metal Bulletin reporters.

Brazilian miner Vale achieved record sales of 86.5 million tonnes of iron ore in the April-June quarter of 2018, up by 5.8% year-on-year, with its premium products accounting for a higher proportion of overall sales amid the iron ore market’s “flight to quality.”

The latest news and price moves to start the Asian day on Wednesday March 28.