International news within the industry of mining and metal, Jan, 18 2019
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Sanctions raise the price of steel and aluminium

US ambassador to UN, Nikki Haley has now announced new sanctions against Syrias allies Russia and Iran, announced Financial Times. Photo: Niki Haleys Facebook/Twitter
US ambassador to UN, Nikki Haley has now announced new sanctions against Syrias allies Russia and Iran, announced Financial Times. Photo: Niki Haleys Facebook/Twitter
Published by
Markku Björkman - 16 Apr 2018

Prices of the steel and aluminium markets are under pressure following the US's latest sanctions against Russian oligarchs, according to 9 Finance. Aluminium recently reached its highest level in six years. On Friday, March 13, three-month valuation for aluminium was $ 2,275.5.

The world's second-largest steel producer, Rusal, has been severely hit by sanctions. This is due, among other things, to the price development of Norsk Hydro's company Alunorte, one of the world's largest aluminium oxide manufacturers used in the production of aluminium.

The sanctions of Assad's alleged earlier poisoning attacks will be announced on Monday, March 16, but according to Haley, the sanctions are directed specifically against companies operating in Syria or producing products that can be used in chemical warfare.

Several of the largest Russian companies, which are controlled by oligarchs and who have already suffered from the sanctions, has ripped into stock exchanges around the world. Rusal has lost half of its market value. Hot about new sanctions has led to increased uncertainty among these companies.
 

Since the completion of the first test shipments in July 2018, Rio Tinto increased the number of autonomous tours along the Groups iron ore lines in Western Australia in a controlled manner. Now, Rio Tintos trains have travelled over one million kilometres completely autonomously. Photo credit: Rio Tinto company
Since the completion of the first test shipments in July 2018, Rio Tinto increased the number of autonomous tours along the Groups iron ore lines in Western Australia in a controlled manner. Now, Rio Tintos trains have travelled over one million kilometres completely autonomously. Photo credit: Rio Tinto company

The world's first mining-related railway network for autonomous trains was opened

"improves productivity"

The mining company Rio Tinto's AutoHaul ™ program, which is expected to cost $ 940 million, is...