Iron Ore Prices Going Up, Market Dynamics Create Significant New Opportunities for Black Iron Inc. (TSX: BKI) (OTC: BKIRF) (GR: BIN)

License revocation and production cuts involving world’s largest iron ore producer have already contributed to upward price trends in the iron ore market Existing shortage in pellet production feed expected to worsen as a result of recent events in Brazil These latest market developments are creating positive conditions and opportunities for industry representatives like Black Iron that already benefit from strategic advantages

The world is anticipating an annual iron ore production loss of 70 million metric tons after Brazilian state regulators revoked the license for the second-largest iron ore mine owned by Vale (NYSE: VALE) – the world’s largest iron ore miner – on February 5, Bloomberg reported (http://nnw.fm/tAeU3). The 30 million metric tons of production lost at this mine are in addition to Vale’s earlier announcement that it is taking 10 of its mines with upstream tailings dams out of production, representing 40 million metric tons of production. The license revocation is providing strong indications that company operations are not going to return to normal in the near future. Vale SA came under strict government scrutiny after a fatal accident caused the death of over 150 people and halted mining operations on January 25, 2019.

As a result of the license revocation and suspension of operations, Vale declared force majeure on some of its…

Read More>>

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive instant SMS alerts, text STOCKS to 77948

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

More News From Finance - Asia Logue

China's trade rep says 'external pressures' can help economy

Jun 16, 2019

BEIJING — Chinese media say the country's top trade negotiator has told a forum in Shanghai that "external pressures" can help the economy. Hong Kong's South China Morning Post and mainland Chinese media outlets reported Thursday that Vice Premier Liu He described the pressures that China is currently facing as an "inevitable test." He said the pressures "will help us improve innovation and self-development, speed up reform and opening up, and push forward with high-quality growth." The South China Morning Post says he did not directly reference the U.S.-China trade dispute. The U.S. has accused China of stealing trade secrets...

Philippine official seeks strong protest over boat sinking

Jun 16, 2019

MANILA, Philippines — The Philippine defense chief will recommend Manila file a strongly worded diplomatic protest after a fishing boat was hit in the disputed South China Sea by a suspected Chinese vessel that the abandoned the 22 Filipino fishermen as their boat sank. Defense Secretary Delfin Lorenzana strongly condemned the sinking of the F/B Gimver 1 on Sunday night due to the collision at Reed Bank off the western Philippine province of Palawan and the abandonment of its Filipino crew. He also thanked the Vietnamese fishermen who rescued the Filipinos and brought them to safety. The sinking is a...

65 Rohingya Muslims found shipwrecked in southern Thailand

Jun 16, 2019

BANGKOK — Thai officials said they discovered 65 ethnic Rohingya Muslim refugees on Tuesday who were shipwrecked and stranded in southern Thailand. The chief of Tarutao National Marine Park, Kanjanapan Kamhaeng, said the boat carrying the Rohingya was found after several Thai and Myanmar citizens told park officials their ship had broken down. They initially denied they were transporting Rohingya. Kanjanapan said the boat was found smashed onto a rocky shore and a preliminary check showed it was carrying 65 Rohingya and several Thai and Myanmar citizens who were identified by the Rohingya as in charge of operating the ship....

China telecom giant Huawei hints US pressure hurting sales

Jun 16, 2019

SHANGHAI — Huawei's chief strategist said Tuesday the company would have become the world's number one smartphone maker by the year's end if not for "unexpected" circumstances — a hint that pressure from the U.S. may be hurting its sales. The comment by Shao Yang at the Consumer Electronics Show in Shanghai comes as Washington intensifies pressure on other countries to exclude Huawei Technologies from next-generation, or 5G, telecom networks where it actually is considered an industry leader. "If we had not encountered anything unexpected, we would have become number one in the world by the fourth quarter," Huawei's chief...

China's trade surplus soars, as exports unexpectedly edge up

Jun 16, 2019

BEIJING — Chinese exports edged up in May, surprising markets, but analysts say the rebound is likely to be short-lived given higher U.S. tariffs and slowing global growth. China's monthly trade surplus jumped 78% to $41.7 billion, as exports rose 1.1% to $213.8 billion and imports fell 8.5% to $172.2 billion, the Chinese customs agency said Monday. The fall in imports reflects weak domestic demand, analysts said. The rise in exports came despite a worsening trade war with the United States in which both countries have raised tariffs on each other's products. "While exports rose in May, weaker global demand...

Sign up now!

Advertisement