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Ferrous Metals News

All systems go at Hernic as Jubilee eyes new projects

By: Natasha Odendaal     2nd December 2016 Mine-to-metals company Jubilee Platinum is days away from starting the commissioning of its new Hernic platinum group metals-bearing chrome tailings processing plant, in the North West. With some 90% of the budgeted capital spent to date, the group is nearing the full completion of the mechanical... 

Glencore sees nickel shortage as electric vehicle demand burgeons

By: Martin Creamer     2nd December 2016 Diversified mining and marketing company Glencore sees a shortage in nickel arising as a result of burgeoning demand from electric vehicle (EV) production. Batteries used in EVs are consuming about 100 000 t of nickel demand and if 10% of the world’s vehicle fleet transitions to electric power,... 

Glencore sees nickel shortage as electric vehicle demand burgeons
Glencore's Koniambo nickel project in New Caledonia, a French territory.

Kumba expects higher FY earnings

By: Natasha Odendaal     2nd December 2016 JSE-listed Kumba Iron Ore expects an 20%-plus increase in earnings for the year to end December 31, owing to an increase in export iron-ore prices during the year and the weaker average rand:dollar exchange rate. The group, which will release its financial results on February 14, expects headline... 

Brazil and Australia to drive industry growth

     2nd December 2016 Global iron-ore production growth is set to become stagnant owing to contracting output by high-cost iron-ore producers in China, while output growth in Australia, Brazil and India will remain positive enabled by a pipeline of expansion projects by major miners, notes market researcher BMI... 

Brazil and Australia to drive industry growth
MAJOR MINERS EXPANDING Brazil's iron-ore sector is expected to continue to outperform in terms of production growth over the coming years

Iron-ore consumption dependent on population and economic development

By: Kimberley Smuts     2nd December 2016 The biggest potential for growth in the iron-ore industry lies with countries in the ‘Next 20’, which refers to the 20 growing non-Bric bloc developing economies, including Indonesia, Pakistan, Bangladesh, Mexico, Philippines, and several sub-Saharan African nations, including Nigeria, Ethiopia,... 

Iron-ore consumption dependent on population and economic development
Photo by Anglo American
INDUSTRY REQUIREMENTS REMAIN Lack of infrastructure remains the biggest hindrance to growth in African iron-ore projects

SA mines urged to quickly to benefit from technology innovations

By: David Oliveira     2nd December 2016 South Africa’s mining industry needs to move quickly to take advantage of the opportunities and mitigate the risks inherent in the onset of disruptive technology innovations to remain competitive, advises management consultancy Datta Burton & Associates (DBA). DBA partner Aaron Burton tells... 

South African iron-ore industry remains weak

By: Kimberley Smuts     2nd December 2016 Stagnating growth in China and low domestic demand continue to pressure the iron-ore mining industry in South Africa, which needs a coordinated approach by government and the private sector to attract investment, states privately-owned consultancy Core Consultants. Political uncertainty and... 

South African iron-ore industry remains weak
LARA SMITH It is not clear if the commodity super cycle will return in the near or medium term, but there are signs of improvement and some acquisition activity

Vale says expects judge to approve Samarco settlement soon

By: Reuters     1st December 2016 Vale, the world's top iron-ore producer, said a judge was soon to ratify a settlement with the Brazilian government regarding its Samarco iron-ore joint venture with BHP Billiton. General Counsel Clovis Torres told investors and analysts at a presentation in London that it "should not take long"... 

Diligent Glencore delivers on debt promise, restarts dividend

By: Martin Creamer     1st December 2016 Diversified mining and marketing company Glencore has delivered on last year’s commitment to cut debt and structurally increase the strength of its balance sheet – and it has done so in a way that has preserved the group’s long-term earnings capability.  JP Morgan Cazenove analysts described the... 

Diligent Glencore delivers on debt promise, restarts dividend
Photo by Duane Daws
Ivan Glasenberg at last year's hand over by Glencore of a R75-million school in South Africa's coalfields to Basic Education Minister Angie Motshekga.

SAIL to double iron-ore production of its Bolani mine

By: Ajoy K Das     1st December 2016 Steel Authority of India Limited (SAIL), the country’s largest integrated steel producer, will double the production capacity of its Bolani iron-ore mine in the eastern Indian province of Odisha. The capacity of the mine will be ramped up to ten-million tons a year over the next four years from... 

Chinese demand, prices trigger ferrochrome green shoots in India

By: Ajoy K Das     1st December 2016 Green shoots are emerging in the ferrochrome industry in India, as a revival in demand from China and higher prices have spurred producers to bring idled capacity back into production. “Improved Chinese demand and price realisations have definitely had a salutary impact on Indian ferrochrome... 

Chinese demand, prices trigger ferrochrome green shoots in India

Goa iron-ore mines slow to resume production

By: Ajoy K Das     30th November 2016 Optimism over getting more than 40 iron-ore mines in the western Indian province of Goa to resume operations is fast receding. Despite an announcement two months ago that 40 iron-ore mines will resume operations as monsoon rains were over, mines are slow in getting back into production. 

CITIC aims to cut costs at Sino Iron project, ramp up output

By: Reuters     30th November 2016 CITIC Pacific Mining's Sino Iron project in Western Australia is ramping up production and expects to export more than 10-million tonnes this year, its chairman said on Tuesday, adding the goal was to become the world's lowest cost producer. Chairman Zhang Jijing of CITIC Pacific Mining, a... 

Vale to refinance $2bn of debt next year: CFO

By: Reuters     30th November 2016 Brazilian miner Vale plans to refinance around $2-billion of debt next year, CFO Luciano Siani said on the sidelines of the company's investor day in New York on Tuesday. Vale, rated Ba3/BBB-/BBB, will focus on debt coming due in 2018, though not all of that would be refinanced with the sale of... 

Ore rally, cost cuts giving Vale breathe to rethink asset sales

By: Reuters     29th November 2016 Vale, the world's No 1 iron-ore producer, is taking advantage of recent gains in mineral and metal prices and successful cost-cutting steps to rethink the pace of an asset sale plan to bring down debt, executives said on Tuesday. Higher ore recovery and price realisation may help Vale generate... 

Tharisa posts record year with profit of $15.8m, announces maiden dividend

By: Megan van Wyngaardt     29th November 2016 Platinum group metals (PGMs) and chrome concentrates producer Tharisa on Tuesday reported “record results”, with its profit after tax more than doubling from $6-million in 2015, to $15.8-million for the year ended September 30. This translated into basic earnings per share (EPS) of $0.05 and... 

Rio seeks iron-ore premium from China mills in likely pricing war revival - sources

By: Reuters     29th November 2016 Australian miner Rio Tinto is asking Chinese steel mills to pay a premium for its highest grade iron ore product for the first time since an annual pricing system collapsed in 2010, two sources familiar with the situation said. The demand by the world's No. 2 iron-ore miner comes as Chinese... 

Capital expenditure to continue downward trend

By: Henry Lazenby     29th November 2016 Despite a modestly more buoyant outlook for key metal prices, mining capital expenditures (capex) are expected to continue on a downward slide over the next three years as miners seek further cost cuts and to improve operational margins, according to analysis by Fitch Group research arm BMI.... 

Capital expenditure to continue downward trend

Meridian takes up TSX-V listing as it prepares for two-pronged BMC exploration approach

By: Henry Lazenby     29th November 2016 Amsterdam, Netherlands-based Meridian Mining has completed its acquisition of Canadian junior Cancana Resources, the companies announced Monday – a deal that is expected to streamline the ownership structure of Cancana and Meridian's joint venture (JV) exploration and development project Brazil... 

Meridian takes up TSX-V listing as it prepares for two-pronged BMC exploration approach
Photo by Cancana Resources
Meridian Mining's BMC operation, Rondônia, Brazil

Discredited DMR making ill-considered demands on struggling industry

By: Martin Creamer     25th November 2016 The Department of Mineral Resources (DMR) is making ill-considered demands that have little hope of being met. Instead of following the continent’s African Mining Vision and Zambezi Protocol, the DMR is going out on a dictatorial limb. 

Discredited DMR making ill-considered demands on struggling industry
Photo by Duane Daws
Chamber of Mines CEO Roger Baxter and Chamber of Mines Senior Executive Public Affairs and Transformation Tebello Chabana

Sundance finds funding while the hunt for partners continues

By: Esmarie Swanepoel     25th November 2016 Iron-ore developer Sundance Resources has secured A$1.3-million in new funding, and extended the maturity date of its existing A$95-million convertible notes by two years. The ASX-listed company on Friday reported that it had executed a term sheet with Senrigan Master Fund and geologist David... 

BHP extends $115m to Samarco for remediation work

By: Esmarie Swanepoel     25th November 2016 Mining major BHP Billiton has extended a $115-million short-term facility to its joint venture with iron-ore (JV) major Vale in Brazil, to carry out remediation and stabilisation work to support the Samarco operations. BHP said on Friday that the funds would be released to Samarco only as... 

BMI ‘moderately positive’ about mining’s near-term future

By: David Oliveira     25th November 2016 The overall view for the global mining industry in the coming years is “moderately positive”, owing to the ongoing fiscal spending on construction, mostly driven by China, BMI Research mining and metals commodities analyst Mitchell Hugers said during a teleconference earlier this month. “Chinese... 

Tramecon

By: Creamer Media Reporter      25th November 2016 Turnkey laboratory solutions provider Tramecon services mining projects worldwide from its wholly owned Randburg facility, comprising two mini factories covering 400 m2. The company further supplies South Africa-based product logistics monitoring for a Democratic Republic of Congo (DRC) client... 

Tramecon

South32 zeroes in on better safety performance in South Africa

By: Natasha Odendaal     24th November 2016 After the fatalities of four employees during the past year, triple-listed South32 needs to initiate a complete step-change in the way it approaches its safety commitments in South Africa. The diversified mining company has therefore committed to investing time, energy and leadership into making... 

Fortescue gains EPA approval for Solomon mine extension

By: Esmarie Swanepoel     24th November 2016 The Western Australian Environmental Protection Authority (EPA) has recommended the approval of iron-ore miner Fortescue Metals’ plans to extend the Solomon iron-ore project, in the Pilbara, for a further 35 years. The proposed extension includes new mining areas in the Castle Valley and... 

Rio Tinto says Simandou payments scandal 'very challenging' 

By: Reuters     24th November 2016 Rio Tinto CEO Jean-Sébastien Jacques said on Thursday that the fallout from its discovery of payments in Guinea has been "very challenging", in his first public appearance since the scandal erupted. Speaking at Rio's annual investment day seminar, Jacques also committed the world's number two... 

Rio Tinto says would cut iron-ore output if that boosted value 

By: Reuters     24th November 2016 Rio Tinto would not hesitate to cut its iron-ore production if that would help boost its free cash flow and the company is not chasing market share, its chief executive said on Thursday. "If it means reducing volume, we'll do it," CEO Jean-Sébastien Jacques told analysts at a briefing in Sydney. 

DMR appointment causes concern

By: Martin Creamer     23rd November 2016 Mineral Resources Minister Mosebenzi Zwane has controversially made a key appointment within the Department of Mineral Resources (DMR) on the grounds that it is only temporary.   Earlier this month, the Democratic Alliance (DA) Shadow Minister of Mineral Resources, James Lorimer MP, requested... 

DMR appointment causes concern
DA Shadow Minister of Mineral Resources James Lorimer MP

Equatorial Resources aims to invest $1.2bn in Congo iron project

By: Reuters     23rd November 2016 Africa-focused Australian mining company Equatorial Resources Ltd will aim to invest around $1.2-billion to develop its Badondo iron-ore project in Republic of Congo, the company said. John Welborn, a non-executive director of Equatorial Resources and chief executive of its Congolese unit Congo... 

Anglo productivity up 40%

By: Martin Creamer     23rd November 2016 Mining company Anglo American, which has reduced the number of assets in its portfolio from 68 in 2012 to 42 now, is producing more product from those 42 assets than it was from the 68. As a consequence, the product produced per person is currently 40% higher than it was four years ago. 

Anglo productivity up 40%
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Cairn Hill readies for restart

By: Esmarie Swanepoel     23rd November 2016 The South Australian government has given privately owned Cu-River Mining Australia some A$397 000 in funding to assist with the restart of the Cairn Hill iron-ore mine. The funding, in the form of a grant through the Regional Development Fund, was expected to assist in creating more than 60... 

Cairn Hill readies for restart

Samarco licensing moving forward despite fines, regulator says

By: Bloomberg     23rd November 2016 Samarco’s quest to obtain permits for resuming its Brazilian iron-ore operations is progressing despite environmental fines and a court order, with a mid-2017 restart still possible, the state licensing agency said. The venture owned by BHP Billiton and Vale, which halted work a year ago after a... 

Aussie midtier miners survived the worst and are making a comeback

By: Creamer Media Reporter      22nd November 2016 A turning point appears to have been reached for Australian midtier miners, as improvements in dividend payout, market capitalisation, cash flow from operations and capital expenditure (capex) point to an industry rebound. However, challenges still lie ahead for ASX-listed miners with a market... 

Aussie midtier miners survived the worst and are making a comeback

Degree of optimism coming from Atlas board

By: Mariaan Webb     21st November 2016 Iron-ore junior Atlas Iron’s strengthened financial and operational position has sparked a “degree of optimism” among board members, chairperson Eugene Davis said on Monday. Atlas has substantially reduced its costs in recent years by entering into collaboration agreements with its contractors,... 

Temer said to seek new Vale CEO in Brazil shareholder talks

By: Bloomberg     21st November 2016 Brazil’s government has decided to push for a new CE for iron-ore giant Vale when the current boss’s contract expires next year, according to people with knowledge of the matter. President Michel Temer ceded to months of lobbying from members of his own Democratic Movement Party to seek a... 

World Bank arm monitoring Rio Tinto’s payments probe in Guinea 

By: Bloomberg     21st November 2016 The World Bank’s private investment arm said it’s monitoring the situation after Rio Tinto Group announced a probe into a $10.5-million payment connected to the Simandou iron-ore project in Guinea, West Africa. The International Finance Corp. is supporting efforts to identify funding for the... 

World Bank arm monitoring Rio Tinto’s payments probe in Guinea

Iron-ore’s party gives way to hangover as China stockpiles surge

By: Bloomberg     21st November 2016 For iron-ore, it is the morning after the night before. Prices have given up most of the gains inspired by Donald Trump’s surprise win and a speculative frenzy in China, with a surge in port stockpiles in the top user reminding investors that fundamentals still count. “The speed of the recent... 

Iron-ore’s party gives way to hangover as China stockpiles surge
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