UPDATE 1-Brazil's Vale scraps dividend as iron ore price slumps RIO DE JANEIRO, Jan 28- Brazilian miner Vale SA will recommend to its board that no dividend is paid to shareholders this year because of the slump in commodity prices, the company said on Thursday. Having announced dividend payments of $2 billion for 2015 at the start of the year, Vale was forced to reduce the amount by $500,000 in September as demand for iron ore...
UPDATE 1-Australia iron ore miner Fortescue steps up cost-cuts to stay in black *Fortescue now sees cash breakeven well below $36 a tonne. MELBOURNE, Jan 28- Australia's Fortescue Metals Group said on Thursday that it could weather far lower iron ore prices than previously touted, as the world's No.4 exporter of the steelmaking ingredient cuts costs faster than planned. That compares with prices near $41 a tonne on Thursday and would make...
| By: Sonali Paul
COLUMN-Australia, Brazil boost China iron ore import share, but not enough: Russell LAUNCESTON, Australia, Jan 27-- Iron ore heavyweights Australia and Brazil are gaining market share in top buyer China, but aren't quite destroying their smaller rivals as quickly as they need to. Australia shipped 607.4 million tonnes of iron ore to China in 2015, a gain of 10.8 percent on the prior year, according to Chinese customs data published on Tuesday.
| By: Clyde Russell
INTERVIEW-Chinese firm unlikely to develop $2 bln Greenland iron ore mine soon -minister *Greenland seeking to develop metals, minerals. TROMSOE, Norway, Jan 26- A Chinese mining firm that took over a planned $2 billion iron ore mine project in Greenland is unlikely to develop it as long as iron prices remain low, Greenland's finance minister told Reuters. General Nice replaced previous owner London Mining, which went bankrupt, becoming the first...
| By: Gwladys Fouche
GLOBAL MARKETS-Stocks fight back as oil pinballs back above $30 *Jitters remain after China shares fall to 14- month low. LONDON, Jan 26- Markets went on another rollercoaster ride on Tuesday as hopes that big oil producers may start tightening supply drove crude oil prices higher and pulled stocks out of a worldwide dive that included a six-percent plunge in China. London, Frankfurt and Paris had initially dropped as much as...
| By: Marc Jones
UPDATE 2-Iron ore futures rise on supply risks after Vale port closure *Brazil court orders closure of Port of Tubarão. SHANGHAI/ MANILA, Jan 22- Iron ore futures in China and Singapore rose on Friday after the closure of a major Brazilian port halted shipments by top iron ore miner Vale SA, offering some relief to an over-supplied market. Unless the closure of the Port of Tubarão stretches to a week or more, however, the boost to iron ore...
| By: a slowing economy