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Ferrous Metals News

Exxaro concludes Mayoko disposal

By: Natasha Odendaal     30th September 2016 Diversified resources group Exxaro Resources has concluded the exit of its Congo-based iron-ore assets. The transfer of ownership of the Mayoko iron-ore project to Congolese company Sapro SA was concluded last week. The JSE-listed South African group, which acquired the project in 2012, put the... 

Rio gets approval for Western Turner Syncline

By: Esmarie Swanepoel     30th September 2016 The West Australian government has given mining major Rio Tinto approval to develop its Western Turner Syncline mine. Rio was expected to spend some A$18-million on construction, with 40 jobs to be created during construction. 

Rio gets approval for Western Turner Syncline

Cash optimisation, capital access and productivity top EY’s 2016/17 business risks

By: Creamer Media Reporter      30th September 2016 Capital considerations dominate the top three business risks in the mining and metals sector, according to professional services firm EY’s latest ‘Top 10 business risks facing mining and metals 2016-2017’ report. “Much like our global counterparts, Canadian mining and metals companies are facing... 

Cash optimisation, capital access and productivity top EY’s 2016/17 business risks

Brazil's Vale taps Bartolomeo to board, replacing Coutinho

By: Reuters     30th September 2016 Brazilian mining company Vale has nominated Eduardo de Salles Bartolomeo as board member, according to a securities filing Thursday. Vale said Bartolomeo will replace Luciano Galvão Coutinho, former president of state lender BNDES, who stepped down. 

Steelworkers ratify agreement with Cliffs

By: Henry Lazenby     30th September 2016 The United Steelworkers (USW) union has ratified a new three-year labour contract at US iron-ore producer Cliffs Natural Resources’ Tilden and Empire mines, in Michigan, and its United Taconite and Hibbing Taconite mines, in Minnesota. The four local unions represent about 2 000 workers under... 

Mining Indaba opens door for more emerging miners to participate

By: Mia Breytenbach     30th September 2016 The Investing in African Mining Indaba has “recreated a platform for the emerging or smaller miner to participate at a palatable price point”, says outgoing Mining Indaba MD Jonathan Moore. Mining Indaba in June announced price reductions of up to 50% for mining corporates, as many companies had... 

Mining Indaba opens door for more emerging miners to participate
Photo by Duane Daws
NEW STEERING Jonathan Moore, who has led the Mining Indaba for nine years, will be succeeded by new Mining Indaba MD Alex Grose as from October 10

China punishes coal, steel companies in overcapacity cut drive

By: Bloomberg     29th September 2016 China has punished coal and steel companies for illegal production or unsafe operations as part of the government’s efforts to reduce industrial overcapacity. Following safety checks at 4 624 coal mines, the regulator revoked the licences of 28 and halted production at 286, the National... 

China auto boom is warning to world miners facing scrap age

By: Bloomberg     29th September 2016 China is on the cusp of a scrap wave that will return metal from ageing cars and expired fridges to the supply chain in a growing threat to mining companies, according to  Chiho-Tiande Group , a top recycler, which is taking over one of the biggest and oldest names in Europe’s scrap business. The... 

Vale says expects current iron-ore price equilibrium to continue

By: Reuters     28th September 2016 Brazil's Vale, the world's largest iron-ore exporter, said on Wednesday it expects balanced supply and demand in the iron-ore market to continue with Brazil adding most of the world's new seaborne supply in 2017. Brazil will add 28-million tonnes of ore to the seaborne market in 2017, 58% of the... 

AMSA insists R2.27bn empowerment deal meets highest governance standards

By: Terence Creamer     28th September 2016 Steel producer ArcelorMittal South Africa (AMSA) has unwrapped its long-awaited R2.27-billion broad-based black economic empowerment (BBBEE) transaction, which chairperson Mpho Makwana insists meets the highest standards of probity and governance. An earlier 2010 attempt by the JSE-listed company... 

AMSA insists R2.27bn empowerment deal meets highest governance standards
AMSA's Wim de Klerk and Mpho Makwana with Likamva's Noluthando Gosa and Leslie Maasdorp

Project house DRA appoints new CEO

By: Martin Creamer     28th September 2016 Project house DRA on Wednesday announced the appointment of Wray Carvelas as its new CEO. Carvelas, who has been CEO of DRA Americas for the past five years, has served the company in various key capacities since 2001. 

Project house DRA appoints new CEO
New DRA CEO Wray Carvelas

Mining Commissioner issues final order on Cliffs' bid over KWG rail claims

By: Henry Lazenby     28th September 2016 The Mining and Lands Commission of Ontario has made a final order, paving the way for an application to the Ontario Ministry of Natural Resources, which was made by Cliffs Natural Resources in early 2012, for the grant of an easement over the claims of KWG subsidiary Canada Chrome Corporation... 

Illegal mining out of control – Mine Rescue Services

By: Natasha Odendaal     27th September 2016 A surge in the number of mine rescues and recoveries at abandoned and disused operations is an indication that the illegal mining scourge is starting to spiral out of control, and the recorded incidents are just the tip of the iceberg. The Chamber of Mines and Mine Rescue Services (MRS) on... 

Illegal mining out of control – Mine Rescue Services
Photo by Duane Daws
Mine Rescue Services CEO Christo de Klerk

Brazil's Samarco misses bond payment, has 30-day remedy period

By: Reuters     26th September 2016 Samarco Mineração, the Brazilian iron-ore mining joint venture that suspended operations in November following a dam disaster, missed an interest payment on a $500-million bond that was due on Monday, trustee Bank of New York Mellon said. As a result, Samarco will have 30 days to make the... 

Brazil's CSN, CBSteel in talks over ore unit stake – sources

By: Reuters     26th September 2016 Cia Siderúrgica Nacional is considering selling part of its stake in Congonhas Minérios, Brazil's No 2 iron-ore producer, to China Brazil Xinnenghuan International Investment, two people familiar with the deal said on Monday. According to the people, the Chinese mill known as CBSteel is... 

Ferrochrome price in sharp rise

By: Martin Creamer     26th September 2016 The European benchmark ferrochrome price for the fourth quarter of 2016 has been settled at 110c a pound, 12.2% up on the 98c-a-pound price of the third quarter. Johannesburg Stock Exchange-listed Merafe Resources said last month that it expected to benefit from renewed positive ferrochrome... 

Ferrochrome price in sharp rise
Photo by Duane Daws
Merafe CEO Zanele Matlala

Iron giants to add 200Mt of supplies through 2020

By: Bloomberg     26th September 2016 The world’s two largest iron-ore exporters Australia and Brazil will each add about 100-million metric tons of supply through the end of the decade, boosting a global glut and hurting prices in a slump that will then force marginal miners to cut output, according to Citigroup. Shipments from... 

Iron giants to add 200Mt of supplies through 2020

Brazil's Vale has not decided on sale of fertiliser unit – filing

By: Reuters     23rd September 2016 The board of directors of Brazilian mining company Vale has not yet made a decision on selling a stake in its fertiliser unit, the company said in a securities filing on Thursday. The Rio de Janeiro-based company, the world's largest exporter of iron ore, is still looking for a strategic partner... 

Increased systemisation of logistics management needed in South Africa

By: Robyn Wilkinson     23rd September 2016 South Africa needs to focus on improving the systemisation of logistics management or risk falling behind global trends and incurring inflated costs, says research logistics team Greiner, Mendi & Associates (GMA) MD Lars Greiner. 

Investor confidence ‘concerning’, key to industry growth

By: Aarifah Nosarka     23rd September 2016 The South African mining sector needs policies that recognise the type of investment that mining demands and which reduce the risks related to investing in long-term projects to encourage investment in the sector, says Chamber of Mines (CoM) CEO Roger Baxter. He tells Mining Weekly that the... 

Investor confidence ‘concerning’, key to  industry growth
RESILIENT INDUSTRY The mining industry is the foundation on which South Africa’s industrial development was built and continues to contribute significantly to the country’s economy

Assmang investigates sexual harassment complaint against Black Rock Mine manager

By: African News Agency      22nd September 2016 Black Rock Mine on Wednesday said it was investigating an internal complaint of sexual harassment involving a manager and a female employee. The investigation was initiated after the National Union of Mineworkers (NUM) reported the matter to senior management last week. NUM said the alleged... 

Ex-limo firm, billionaires bet on iron-ore with mines, M&A

By: Bloomberg     22nd September 2016 The global iron-ore market is awash with supply and prices remain volatile, but a former Chinese limousine rental service and a billionaire New Zealand family are among producers and developers wagering new mines will be needed. Their focus is Western Australia, the industry heartland in the... 

Ontario strikes deal with Bedrock to restructure US Steel Canada

By: Reuters     21st September 2016 The province of Ontario said on Wednesday that it has signed an agreement with equity fund Bedrock Industries LP to restructure US Steel Canada, but the deal still requires approval from other stakeholders and a Canadian court. The plan, in a memorandum of understanding, must still be accepted... 

Ontario strikes deal with Bedrock to restructure US Steel Canada

Pallinghurst suffers H1 losses as market strains continue

By: Megan van Wyngaardt     21st September 2016 Diversified investment company Pallinghurst Resources on Wednesday reported another interim loss of $32-million for the six months ended June 30. This was, however, a significant improvement on the loss of $149-million incurred in the six months to June 30, 2015, owing to improved commodity... 

Brazil’s looming wet season poses new Samarco risks, BHP warns

By: Bloomberg     21st September 2016 BHP Billiton, the world’s biggest miner, warns Brazil’s impending wet season may result in further environmental damage due to the failed Samarco dam, carrying the risk of new fines and legal claims. Work is underway to reinforce dam structures to help contain tailings as the November-to-April... 

Pan African profit soars, dividend increased

By: Martin Creamer     21st September 2016 A year of record gold production has resulted in the Pan African Resources group delivering an outstanding set of results. In the 12 months to June 30, the gold mining operations of the London- and Johannesburg-listed company saw particularly outstanding performance from its Evander mines, which... 

Pan African profit soars, dividend increased
Photo by Duane Daws
Pan African CEO Cobus Loots

South African ‘Mining Hall of Fame’ on way – Swanepoel

By: Martin Creamer     20th September 2016 A South African ‘Mining Hall of Fame’ is on the way. Revealing this at a pre-Joburg Indaba presentation on Tuesday, chairperson Bernard Swanepoel noted that South Africa was odd mining jurisdiction out in not having a mining hall of fame. 

South African ‘Mining Hall of Fame’ on way – Swanepoel
Photo by Duane Daws
Joburg Indaba chairperson Bernard Swanepoel

China to proceed with biggest steel merger in almost a decade

By: Bloomberg     20th September 2016 Two of China’s biggest steelmakers agreed to merge their listed units, moving a step closer to a union that would create the nation’s biggest mill and a company with the scale to rival ArcelorMittal. The publicly traded arm of Shanghai Baosteel Group, the second-biggest Chinese mill by output,... 

Iron’s 50m extra tons spell weaker price – Liberum

By: Bloomberg     20th September 2016 The world’s top iron-ore suppliers including Brazil’s Vale will add almost 50-million tons of supply in the 12 months to next June, undermining prices and feeding a global glut, according to Liberum Capital. Suppliers that also include Australia’s BHP Billiton, Rio Tinto and Gina Rinehart’s Roy... 

Vale says rail delay limits new iron-ore mine output to 75mt

By: Reuters     20th September 2016 Brazil's Vale said on Monday output from its new S11D iron-ore mine in the Amazon region will be limited to 83 percent of full capacity as efforts to preserve cash and limit transport disruptions crimp a needed railway expansion. The $14.3 billion project, Vale's biggest-ever investment, was... 

MinRes gets EPA tick of approval for Pilbara iron-ore rail project

By: Mariaan Webb     19th September 2016 Integrated mining services company and iron-ore miner Mineral Resources Limited (MRL) is making progress with its Pilbara Bulk Ore Transportation System, known as BOTS, which will transport iron-ore mined from the Iron Valley mine site, near Newman, to Port Hedland. The Western Australian... 

Brazil grants Vale licence for Amazon iron-ore mine rail branch

By: Reuters     17th September 2016 Brazil granted Vale a ten-year licence to operate a 101-km branch line connecting its $14.3-billion S11D iron-ore mine project in the Amazon jungle to the Carajas Railway, the company said in a statement on Friday. The Carajas Railway branch will allow Vale, the world's largest iron ore exporter,... 

Brazil's Coelho says Samarco may resume operations subject to conditions

By: Reuters     15th September 2016 Brazil's Samarco Mineração will be able to resume iron-ore mining operations should co-owners Vale and BHP Billiton come through with promised investments, Mining and Energy Minister Fernando Coelho said on Thursday. Samarco had operations halted last November, when a tailings dam at the mine... 

Policy environment failing South African mining – professor

By: Martin Creamer     15th September 2016 South Africa’s policy environment is failing its mining industry, which is suffering an inability to attract investment. In terms of the weighted average cost of capital (WACC), South Africa is trailing many other mining jurisdictions owing to its unstable political economy. 

Policy environment failing South African mining – professor
Photo by Duane Daws
Southern African Institute of Mining and Metallurgy mineral economics division chairperson Professor Michael Solomon

Iron-ore hits the skids as miners, banks wrangle over supply

By: Bloomberg     15th September 2016 After a stellar run in 2016, iron-ore has hit a rough patch. The prospect of a slump below $50 a metric ton is now back in view after the longest losing streak in more than five months as investors, analysts and miners spar over the impact of additional low-cost supply. 

Rinehart’s iron-ore mine won’t reach capacity this year

By: Bloomberg     15th September 2016 Billionaire Gina Rinehart’s iron-ore producer said its mine in Western Australia won’t reach full capacity this year following issues at its port and processing plant. The target of 55-million metric tons a year is now expected to be reached early in 2017, instead of late this year, Roy Hill... 

WA mining tax may risk major BHP iron-ore project

By: Bloomberg     15th September 2016 BHP Billiton, the world’s largest mining company, said a proposed tax on producing iron-ore in Australia would risk the development of a new project in the Pilbara region that may account for about a quarter of its iron output from the country. Brendon Grylls, the leader of Western Australia’s... 

BHP-Vale Brazil mine said to weigh missing next bond coupon

By: Bloomberg     15th September 2016 Samarco Mineracao is considering skipping bond coupon payments that are due as soon as this month as the stalled Brazilian iron-ore miner runs out of money, according to people with knowledge of the matter. Without knowing when it can restart mining, the venture owned by BHP Billiton and Vale is... 

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