Iron ore

Catalist debutant Fortress Minerals to ride on China's rising demand for steel mills, says UOB
SINGAPORE (Mar 25): UOB KayHian says upcoming market entrant Fortress Minerals (FMIL SP) is well positioned to ride on increasing demand from Chinese steel mills. Fortress Minerals is a 37%-owned associate of Malaysia-listed Selangor Dredging Bhd, an investment firm with property development businesses in Malaysia and Singapore. The company produces high-grade iron ore concentrate mined ...
CNMC Goldmine's dual listing plans rejected by Hong Kong Stock Exchange
SINGAPORE (Dec 24): CNMC Goldmine Holdings says plans for a dual primary listing in Hong Kong has been rejected by the Mainboard of the Hong Kong Stock Exchange (HKSE).   This comes after the group’s application was reviewed by the exchange’s listing committee and ultimately, deemed unsuitable as CNMC’s market capitalisation failed to meet the requisite minimum of sum of HK$500 ...
SGX launches high-grade iron ore derivatives
SINGAPORE (Dec 3): Singapore Exchange (SGX) today launched SGX MB Iron Ore CFR China swaps and futures to complement the bourse’s bellweather 62% Fe Brazilian derivatives. The new contracts reference the 65% Fe Brazilian fines index, CFR Qingdao, provided by Fastmarkets MB. In a Monday announcement, SGX says the SGX MB Iron Ore CFR China swaps and futures have been designed in close ...
Hong Kong vs Singapore; who will win the iron ore wars?
(Nov 13): Call it the iron ore wars. Two of Asia’s financial heavyweights are going head-to-head as Hong Kong Exchanges & Clearing starts futures for a commodity that’s seen extraordinary volatility and been a popular way to bet on China, challenging Singapore Exchange’s leading position. HKEX began trading the futures on Monday, pitting the new dollar-denominated contract ...
CNMC Goldmine to acquire Kelantan company for $0.8 mil
SINGAPORE (March 20): CNMC Goldmine Holdings is proposing to acquire a 100% stake in what would be its third mining asset in Malaysia, KelGold Mining, for RM2.5 million ($0.8 million) in cash. Based in Kelantan, KelGold possesses rights to explore for iron ore and other minerals in an area spanning 15.5 sq km. The company is also in the process of getting its exploration licence renewed for ...
The China X-factor that puts steel’s surprise comeback at risk
SHANGHAI (Feb 14): Steelmakers aren’t out of the woods yet. A year-long resurgence risks cooling as a slowdown in China’s property market deepens, exposing bullish sentiment as overblown, according to a U.S.-based hedge fund manager and former Citigroup Inc. analyst. “China’s real estate sector is the biggest X-factor for the steel market globally this year,” Ivan Szpakowski, ...
Rio Tinto rewards investors as profit rebounds on iron ore rally
(Feb 8): Rio Tinto Group will pay a much higher dividend than expected and buy back US$500 million ($708.8 million) of shares after the world’s second-biggest mining company reported the first gain in annual profit since 2013. Higher iron ore prices boosted underlying profit to US$5.1 billion in 2016, London-based Rio said on Wednesday. That beat the US$4.75 billion average estimate of ...
Could drybulk shipping be on cusp of recovery?
SINGAPORE (Sept 19): Axia Capital Markets believes the worst is over for drybulk shipping as the demand for iron ore imports from China grew faster than expected from its stimulus programme. Drybulk shipping is the shipping of minerals, industrial raw materials, and agricultural products and is the largest sub-sector of the shipping industry, with over 42% of the total tons of cargoes ...
CNMC Goldmine kept at ‘overweight’ by NRA Capital on new mine deal
SINGAPORE (June 30): NRA Capital has maintained its “overweight” rating on CNMC Goldmine, with a target price of 43 cents. This follows CNMC’s entry into a non-binding agreement to acquire 51% of Pulai Mining Sdn. Bhd. (PMSB) via the subscription of new shares for MYR13.8 million ($4.6 million). CNMC’s involvement in this project shows that the existing shareholders recognise ...
CNMC in talks to acquire 51% stake in Kelantan miner Pulai Mining
SINGAPORE (June 28): CNMC Goldmine Holdings has signed a non-binding letter of intent to acquire a 51% stake in a Malaysian mineral miner Pulai Mining. Pulai Mining owns exploration and mining licenses with a combined license area of 3,841.3 ha, in Kelantan. The licences include an exploration licences of 2,300ha, seven gold mine licences for 1,166.2 ha, two iron ore mining licences of ...