Katharine Gemmell

1 week ago | bloomberg.com | Annie Lee |Katharine Gemmell

(Bloomberg) -- Prices of a key Chinese steel product used in construction were at their lowest since 2017 as the world’s biggest market for the metal grappled with a massive glut. Reinforcement bar — or rebar for short — is a benchmark for China’s traditional steel markets because it’s used to strengthen concrete in buildings and infrastructure. The eight-year low in Shanghai highlights the demand struggle facing steelmakers due to a prolonged downturn in the country’s property sector.

2 weeks ago | bloomberglinea.com.br | Katharine Gemmell |Thomas Biesheuvel

Bloomberg — A Rio Tinto iniciou a busca por um novo diretor executivo depois de anunciar que Jakob Stausholm deixará o cargo no final deste ano. A empresa de mineração número 2 do mundo planeja fazer um anúncio antes dos resultados de produção do terceiro trimestre, enquanto procura capitalizar uma lista invejável de projetos de crescimento.

2 weeks ago | bloomberg.com | Katharine Gemmell |Thomas Biesheuvel

Rio Tinto Group's Gudai-Darri iron ore mine in the Pilbara region of Western Australia. (Bloomberg) -- Rio Tinto Group has started the hunt for a new chief executive officer after announcing that Jakob Stausholm will step down later this year. The world’s No. 2 mining company plans to make an announcement before its third-quarter production results as it looks to capitalize on an enviable list of growth projects.

2 weeks ago | bloomberg.com | Paul Van Lieshout Hunt |Katharine Gemmell

Andrew Forrest on May 21. (Bloomberg) -- A Rio Tinto Group executive has defended the future of Australia’s iron ore hub, after mining billionaire Andrew Forrest delivered a downbeat message on its prospects unless it gets more green investment. Fortescue Ltd. founder Forrest flagged fears that China’s potential pivot away from traditional coal-powered blast furnaces would threaten the Pilbara, which has less of the higher grade ore needed for greener production.

2 weeks ago | bloomberg.com | Katharine Gemmell

(Bloomberg) -- India’s steel sector could make or break a key global decarbonization objective, according to a non-profit that tracks energy infrastructure. While China still dominates in terms of operating capacity, India is the most polluting steelmaker and has the largest pipeline, with more than 350 million tons per year at various stages of development. Much of the upcoming furnaces will be fed by coal, as the country still lacks the scrap feedstock used in cleaner production methods.