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Ferrous Metals News

Guinea-focused Bellzone Mining goes bust

By: Mariaan Webb     14th December 2018 Guinea-focused iron-ore company Bellzone Mining has called in the liquidators after its largest shareholder and main backer Hudson Capital prevented it from raising any further equity and debt. The company previously warned that it would go bust if it could not secure a fresh injection of cash... 

Vale bolsters case for takeover of BHP JV with acquisition

By: Bloomberg     13th December 2018 Vale’s latest acquisition bolsters the argument it has raised for taking complete control of the shuttered Brazilian iron-ore mine that it owns with BHP Group. Vale announced on Tuesday the purchase of technology firm New Steel for $500-million as it aims to boost output of high-grade iron-ore... 

Euro Manganese updates Chvaletice resource estimate

By: Mariaan Webb     13th December 2018 Following the completion of the 2018 drilling programme, TSX-V- and ASX-listed Euro Manganese has updated the resource estimate of its Chvaletice manganese project, in the Czech Republic, confirming 98.3% as measured resources. The project's total measured and indicated resources now amount to... 

Koolan Island on track for March sales

By: Esmarie Iannucci     13th December 2018 First iron-ore sales from the Koolan Island restart project, in the Kimberley region of Western Australia, is expected by the end of March next year, ASX-listed Mount Gibson Iron reported. The company has told shareholders that site ramp-up activities were progressing well, with dewatering... 

Flinders to de-list from ASX

By: Esmarie Iannucci     13th December 2018 Emerging iron-ore junior Flinders Mines has applied for a de-listing from the ASX, saying it would be in the best interest of shareholders. The decision to de-list from the ASX followed a strategic review of the available options to maximise shareholder value, on the back of a number of... 

Enable meaningful participation, pleads Women in Mining chair  

By: Martin Creamer     12th December 2018 The Mining Charter has significant room for improvement to enable meaningful participation of women in mining, says Women in Mining South Africa (WiMSA) chairperson Lindiwe Nakedi. Soweto-born Nakedi, who owns Gubhani Exploration – a surface exploration drilling company that is currently the only... 

Enable meaningful participation, pleads Women in Mining chair
Women in Mining chairperson and Gubhani Exploration MD Lindiwe Nakedi talks to Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Photographs: Creamer Media Chief Photographer Dylan Slater.

South Africa’s mining production increases 0.5% y/y – Stats SA

By: Tasneem Bulbulia     11th December 2018 Mining production lifted marginally, by 0.5% year-on-year, in October, primarily on the back of strong growth in platinum group metals (PGMs), diamonds and manganese ore output, according to Statistics South Africa (Stats SA). Production of PGMs, which occupy the second-highest weighting in the... 

Jubilee acquires chrome processing operation

By: Tasneem Bulbulia     10th December 2018 Dual-listed Jubilee Metals has entered into an agreement to acquire all of the chrome beneficiation assets including plant, equipment, intellectual property and all rights to the existing surface material – estimated to be in excess of 1.8-million tonnes – owned by PlatCro Minerals and associated... 

Indian govt to mediate in NMDC, Karnataka spat over iron-ore mine

By: Ajoy K Das     7th December 2018 In agreeing to mediate in the spat between State-run miner NMDC and the government of Karnataka over Donimalai iron-ore mine, the Steel Ministry has suggested that the Karnataka government does not invite a new miner to take control of the iron-ore mine. Officials said that the Steel Ministry... 

Transnet praised for rapidly restoring stricken Saldanha iron-ore line 

By: Martin Creamer     7th December 2018 State rail transport enterprise Transnet has earned praise by pulling out all the stops to rapidly restore a railway bridge on South Africa’s crucial Sishen–Saldanha iron-ore line. The line came to a halt on November 28 after a truck carrying heavy equipment at excessive height on a public road... 

Transnet praised for rapidly restoring stricken Saldanha iron-ore line
Crucial iron-ore line back on track after rapid bridge restoration

Bauba says High Court halts mining right grant to Samancor Chrome

By: Marleny Arnoldi     7th December 2018 JSE-listed Bauba Platinum on Friday informed its shareholders that the High Court, in Pretoria, had set aside the granting of a chrome-ore mining right to Samancor Chrome in respect of the farms Wintersveld, Jagdlust and Zeekoegat, owing to a lack of proper notice and consultation with interested... 

Researcher forecasts a consistent price for iron-ore

7th December 2018 Macroeconomic researcher Fitch Solutions – formerly known as BMi Research – has maintained its average iron-ore price forecast for 2018 at $6.0/t. However, despite the recent August rally – which stemmed from a combination of stocking up of ore by Chinese steel producers as low-grade polluting... 

Researcher forecasts  a consistent price  for iron-ore
HARD TO PORT Ore ready for export at the Saldanha Port

Manufacturer ensures top quality screens for iron-ore sector

By: Shannon de Ryhove     7th December 2018 Vibrating and original-equipment manufacturer (OEM) and supplier Kwatani has successfully custom-engineered and manufactured about 1 000 of its robust vibrating screens and feeders in the iron-ore sector in South Africa to date, while more than 15 000 units have been shipped into 35 countries... 

Manufacturer ensures top quality screens for iron-ore sector
Photo by Kwatani
PARTNERSHIP Kwatani can design and manufacture solutions to suit the precise requirements of an iron-ore mine as well as scientifically monitor and measure its performance

Vale says recent dip in global steel prices is temporary

By: Reuters     6th December 2018 Brazil's Vale, the world's largest iron ore miner, said on Thursday a recent dip in global steel prices is temporary due to overproduction in China ahead of winter output cuts. Vale CEO Fabio Schvartsman told investors in London that global capacity utilisation in the steel sector has risen to... 

Ferrexpo shareholders rewarded with special dividend

By: Creamer Media Reporter      6th December 2018 London-listed Ferrexpo has rewarded its shareholders with a special interim dividend of 6.6c a share, as premiums for high-quality iron-ore pellets remain high. The company has generated sufficient cash to reduce its debt and to fund its capital expenditure requirements, it said on Thursday,... 

Pioneering nickel sulphate venture draws down on loan 

By: Martin Creamer     6th December 2018 Black-controlled Thakadu Battery Materials, a pioneering South African high-purity battery-grade nickel sulphate developer, has made its first drawdown from South Africa’s State-owned Industrial Development Corporation (IDC) under a R152-million loan facility agreement. The IDC loan is funding... 

Pioneering nickel sulphate venture draws down on loan
Thakadu Battery Materials CEO Ruli Diseko

Vale to buy mid-sized iron miner Ferrous Resources

By: Reuters     6th December 2018 razilian miner Vale, the world's top nickel producer, is acquiring the control of Ferrous Resources, its controlling shareholder Icahn Enterprises said in a securities filing. Ferrous, which explores iron-ore, will merge into a company controlled by Vale, the filing said, and will be valued at... 

EVs to become main driver of battery storage deployment over next decade, says Fitch Solutions

By: Simone Liedtke     5th December 2018 The electric vehicle (EV) market is set to become the main driver of surging battery storage deployment over the next decade, following increasing ambitions by developed and emerging markets to decarbonise their transport sectors, and will have a substantial disruptive effect on how energy is... 

Innovate and generate cash at same time – Dassault Systèmes Geovia  

By: Martin Creamer     5th December 2018 The objectives of innovating and generating cash are not mutually incompatible and can be achieved at multiple levels simultaneously, says Dassault Systèmes Geovia Brand CEO Raoul Jacquand, who was in Johannesburg to showcase the French company’s suite of advanced three-dimensional (3D) software.... 

Innovate and generate cash at same time – Dassault Systèmes Geovia
Dassault Systèmes Geovia Brand CEO Raoul Jacquand spoke to Mining Weekly Online’s Martin Creamer on new mining technology. Video: Christo Greyling. Photogaphs: Creamer Media Chief Photographer Dylan Slater.

Vale to pump $500m into nickel mine, ends partner quest

By: Reuters     4th December 2018 Brazilian miner Vale SA, the world's top nickel producer, wants to shore up its nickel business before the electric vehicle revolution, but lowered 2019 output forecasts for the metal, a key ingredient in lithium batteries. In presentation to investors in New York, Vale executives projected the... 

Vale to pump $500m into nickel mine, ends partner quest
Vale CEO Fabio Schvartsman

Goa counting the cost of iron-ore mine closures

By: Ajoy K Das     4th December 2018 The government of the western Indian coastal state of Goa has estimated that it is losing $214-million a month in revenues, following the closure of all iron-ore mines since March. With neither the state, nor central government succeeding in ensuring resumption of mining operations by December,... 

Financially troubled Bellzone’s shares suspended

By: Creamer Media Reporter      3rd December 2018 West Africa-focused Bellzone Mining requested a suspension of trading in its shares on the London bourse on Monday, warning that it would go insolvent if it could not source funds in the “very near term”. The troubled company, which develops iron-ore and nickel/copper assets in Guinea, previously... 

Glencore's billionaire copper chief retires under legal pressure  

By: Bloomberg     3rd December 2018 Glencore on Monday announced the retirement of-billionaire Aristotelis Mistakidis, its embattled head of copper trading and one of the company’s biggest shareholders. Mistakidis’s departure marks the end of an era. The 56-year-old executive is one of the world’s most powerful commodities traders... 

Glencore's billionaire copper chief retires under legal pressure

Saldanha iron-ore rail line to remain shut until Dec 9 after truck accident

By: Creamer Media Reporter      30th November 2018 State-owned Transnet has stopped all rail activity along the Saldanha iron-ore export line after a truck carrying an abnormal load with excessive height collided with a railway bridge between Vredendal and Lutzville, in the Western Cape. The accident, which took place at about 10:00 on Wednesday... 

Karnataka mine closure triggers conflicting claims on iron-ore supplies

By: Ajoy K Das     30th November 2018 The closure of NMDC’s Donimalai iron-ore mine has triggered conflicting claims about supplies, with the industry saying there is a shortage, which gives rise to higher prices and imports, while the Karnataka government, for its part, has sought central intervention to tackle a glut in the... 

Fortescue taps new tech to step up copper hunt across Australia

By: Reuters     30th November 2018 Australian miner Fortescue Metals this week said the latest developments in satellite imagery are helping it scour vast swathes of its own backyard for new deposits, seeking an edge as it jostles with global peers for the next big strike. The world's fourth-largest iron ore miner raised its... 

BHP extends Decmil's contract at Mulla Mulla

By: Esmarie Iannucci     30th November 2018 Mining major BHP has extended ASX-listed Decmil’s contract at Mulla Mulla in the Pilbara. The works, which upgrade and expand the existing Mulla Mulla village, will support the current operations at Mining Area C and the South Flank project. 

Anglo willing to play constructive land role  

By: Martin Creamer     29th November 2018 Anglo American CEO Mark Cutifani on Wednesday expressed willingness to play a constructive role in helping South Africa to arrive at solutions involving the diversification of land ownership and ensuring land productivity. Speaking to journalists at a year-end media function, Cutifani urged the... 

Anglo willing to play constructive land role
Photo by Creamer Media
Anglo American CEO Mark Cutifani

ARM shares start trading on A2X

By: Creamer Media Reporter      29th November 2018 Diversified miner African Rainbow Minerals' (ARM's) shares started trading on the A2X on Thursday.   ARM, which will retain its primary listing on the JSE, is the first mining company to list on the A2X.   A2X CEO, Kevin Brady says, “We are pleased to welcome African Rainbow Minerals onto our... 

Rio Tinto approves $2.6bn ‘game-changer’ iron-ore mine

By: Esmarie Iannucci     29th November 2018 Mining major Rio Tinto on Thursday approved a $2.6-billion investment to develop its Koodaideri iron-ore mine, in Western Australia. “Koodaideri is a game-changer for Rio Tinto. It will be the most technologically advanced mine we have ever built and sets a new benchmark for the industry in... 

Rio Tinto approves $2.6bn ‘game-changer’ iron-ore mine

Fortescue readies first shipment of new mid-grade iron-ore

By: Reuters     28th November 2018 Australia's Fortescue Metals Group is set to ship the first cargo of its new mid-grade iron ore next month just as a rout in Chinese steel prices helps it improve its margins in competition with higher grade products. The world's fourth-largest iron ore miner will make the first shipment of its... 

Karnataka govt, NMDC spat over Donimalai iron-ore block escalates

By: Ajoy K Das     28th November 2018 The spat between State-run iron-ore miner NMDC and the government of the southern Indian state of Karnataka over the Donimalai iron-ore block has escalated with both sides threatening retaliatory measures. The Karnataka government renewed the lease of the Donimalai mines in favour of NMDC earlier... 

Tharisa FY18 headline earnings, operating profit fall

By: African News Agency      28th November 2018 Integrated resource group Tharisa on Wednesday reported a 13.6% decline in headline earnings per share to $0.19 in the year to September 30, while operating profit fell 26.3% to $72.5-million. Revenue was up 16.3% to $406.3-million and the company declared a final dividend to shareholders of... 

Canadian iron-ore mine’s restart fully financed

By: Mariaan Webb     28th November 2018 Junior iron-ore company Tacora Resources is bringing back to life the defunct Scully mine in Labrador West, Canada, and announced on Tuesday that it had secured the necessary financing to restart operations. The company closed $212-million in private equity and senior secured debt financing,... 

Canadian iron-ore mine’s restart fully financed

Nigeria awards mining exploration contract to ten mining, consulting firms

By: Reuters     28th November 2018 Nigeria has awarded a mining contract to ten exploration and consulting companies as part of the country's efforts to develop the sector, the mining and steel development minister said on Tuesday. Abubakar Bawa Bwari did not say how much the contracts were worth but in July he had said eight... 

Tharisa, AMCU agree to two-year wage deal

By: Creamer Media Reporter      27th November 2018 JSE- and LSE-listed Tharisa has reached a two-year wage agreement with the Association of Mineworkers and Construction Union (AMCU) at the Tharisa platinum group metals and chrome mine, near Rustenburg. The agreement is effective from July 1, this year, to June 30, 2020, and applies to employees... 

Capstone explores alternatives for Chile project, including selling stake

By: Mariaan Webb     26th November 2018 Canadian base metals miner Capstone Mining is aiming to cash in on the shortage of high-quality, large-scale copper projects by selling a portion of its Santo Domingo iron oxide-copper/gold project, in Chile. The Vancouver-based company on Monday announced the start of a strategic process to... 

Capstone explores alternatives for Chile project, including selling stake

Centaurus sells Conquista

By: Esmarie Iannucci     23rd November 2018 Brazil-focused Centaurus Metals has divested its Conquista iron-ore project, to privately held Brazilian company R3M Mineracao. Under the terms of the agreement, R3M will pay R$500 000, or around A$185 000, to Centaurus by mid-December, and will grant Centaurus a 12% royalty on all future... 

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