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Black Iron Announces 2025 AGM Results
Globenewswire· 2025-06-13 22:00
Core Points - Black Iron Inc. held its annual and special meeting of shareholders on June 13, 2025, where nominees listed in the management information circular dated May 6, 2025, were elected as directors of the Company [1] - A total of 34,637,832 common shares were voted at the Meeting, representing approximately 11.3% of the issued and outstanding common shares of the Company [3] Election Results - Matthew Simpson received 22,279,344 votes for (99.823%) and 39,569 votes withheld (0.177%) [2] - Bruce Humphrey received 22,186,338 votes for (99.406%) and 132,575 votes withheld (0.594%) [2] - John Detmold received 22,156,338 votes for (99.272%) and 162,575 votes withheld (0.728%) [2] - Pierre Pettigrew received 22,280,344 votes for (99.827%) and 38,569 votes withheld (0.173%) [2] - David Porter received 21,903,338 votes for (98.138%) and 415,575 votes withheld (1.862%) [2] - Zenon Potoczny received 22,279,344 votes for (99.823%) and 39,569 votes withheld (0.177%) [2] Company Overview - Black Iron is an iron ore exploration and development company focused on its 100% owned Shymanivske Iron Ore Project located in Kryviy Rih, Ukraine [4] - The project is surrounded by five other operating mines, including Metinvest's YuGOK and ArcelorMittal's iron ore complex [4]
高盛:金属评论-黑色金属周反馈 -难以摆脱看空论调
Goldman Sachs· 2025-06-05 06:42
Investment Rating - The report indicates a bearish outlook for the iron ore market, with price forecasts suggesting a decline to $92/t by December 2025 and $87/t by December 2026, reflecting a decrease of 3% and 8% from the current front-month prices [3][4]. Core Insights - The report highlights a consensus among industry players regarding a bearish iron ore price outlook, driven by factors such as slowing global economic growth, reduced steel demand in China and beyond, and increased supply from projects like Mineral Resources' Onslow and the Simandou Project [4][5]. - The forecast for Q4 2026 suggests a price of $80/t, which is at the lower end of expectations, influenced by rising iron ore port stocks in China, a projected 2% year-over-year decline in domestic steel demand in 2025, and an anticipated appreciation of the CNY/USD exchange rate [5][8]. - The report notes that prices need to remain around $80/t for an extended period to eliminate less price-responsive supply from the market, particularly as global seaborne demand is expected to decline significantly [8]. Summary by Sections Price Outlook - The report anticipates iron ore prices to range between $95-100/t for Q2-Q3 2025, followed by a decline to $90/t in Q4 due to various economic factors [4]. - The bearish sentiment is reinforced by expectations of further price declines in 2026, with most forecasts clustering in the $80-90/t range [5]. Supply and Demand Dynamics - A significant decline in China’s domestic iron ore production is expected, with projections of an 8% decrease in 2025 and a further 16% decrease in 2026, attributed to lower demand despite initiatives to boost production [14]. - The report emphasizes that while there is a structural decline in China’s steel output, no strict government-mandated production cuts are anticipated in the near term due to improved steelmaking margins [9]. Export Factors - The strength of China’s steel exports is identified as a critical factor influencing steel production, with expectations of a decline in direct steel exports due to anti-dumping duties and base effects [10][11]. - Despite a projected decline in net exports, the report suggests that China may still manage to sustain higher export levels by shifting focus to long and semi-finished steel products [11].