Iron ore prices hit new record
Champion Iron CEO David Cataford (pointing) in the processing plant at the Bloom Lake iron ore mine in Quebec. Credit: Champion Iron
The price for iron ore surged to a record US$237.57 per tonne today as strong Chinese demand continued to outpace supply.
The record price levels are supported by a continued supply squeeze, with major iron ore producers reporting seasonally lower output in the March quarter, and growing concern over the escalating Covid-19 crisis in India, which could impact the country’s exports of the metal.
“These factors, along with a recovery in ex-China demand, is expected to drive the global seaborne trade balance into a deeper deficit in 2021, with annual prices forecast to average US$153 per tonne,” Ronnie Cecil, principal analyst for metals and mining research at S&P Global Market Intelligence, tells The Northern Miner, although he notes a seasonal rise in Brazilian exports are likely to lower prices in the second half
Inside the team, things have been less rosy. When a reporter filed a complaint in September of 2019 alleging bullying and harassment by Marizco, other employees interviewed by investigators echoed his concerns. They said Marizco routinely cursed and yelled while berating subordinates, hanging up on them abruptly if he became irritated. Two said that Marizco screaming or yelling at them had affected their health due to increased anxiety.
“It was terrible, one former Fronteras reporter told
New Times. Imagine ending your workday in tears several times a week. Imagine ending your workday angry and frustrated and having nowhere to turn.
Despite Marizco s denials of wrongdoing, the investigation ultimately found that he had engaged in bullying and unprofessional behavior. It dismissed several additional allegations, but sustained a charge of discriminatory conduct based on comments Marizco made, including allegedly telling one employee he counted his days like a Jewish account
By Andrew Rice, Staff Writer
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LEWISTON A redevelopment effort at Bates Mill No. 5 will get at least another three years, after the City Council approved an agreement with developer Tom Platz on Tuesday night.
The agreement gives Platz exclusive rights to buy the 350,000-square-foot building for $1, but also leaves the door open for another developer to take over the project in the third year.
The council voted 6-1, with Councilor Michael Marcotte opposed.
Since the city took over the property in 1992, there have been decades of discussion on whether to demolish or redevelop the property. While Platz has bought and slowly redeveloped the rest of the Bates Mill complex, Mill No. 5, the largest of the properties, has proven difficult.
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MONTPELIER â An amendment that would have added criteria for businesses receiving relief funds to show economic loss during the pandemic was voted down by the State House of Representatives on Friday, as the $78.8 million bill passed on third reading and was sent to the state Senate.
The relief bill, in addition to funds for recreation, school air quality and mental health support, includes $10 million for businesses that did not qualify for earlier federal CARES Act relief funds. When the initiative was left out of the Budget Adjustment Act, House leaders pledged they would work quickly to get it through the committee process and out the door.