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Vale lifts Q3 iron-ore output to historic highs

By: Henry Lazenby     Updated 11 minutes ago Diversified Brazil-based miner Vale on Thursday reported record iron-ore output for the third quarter ended September 30, boosted by quarter-on-quarter gains in all its business segments. Vale said iron-ore output totalled 85.7-million in the period, underpinned by the ramp-ups of Plant 2 of the... 

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo

By: Martin Creamer Diversified mining company Anglo American on Thursday reported 12% lower coal production for South Africa’s State electricity utility Eskom, 31% less refined platinum production, 4% lower iron-ore exports and fewer diamond carats from South African diamond mines, in the three months to September... 

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo
Photo by Duane Daws
Anglo CEO Mark Cutifani

Kumba Q3 output up 37% y/y

By: Creamer Media Reporter Kumba Iron Ore lifted its output by 37% year-on-year and 13% quarter-on-quarter to 13-million tonnes in the quarter ended September 30. The Sishen mine produced 9.3-million tonnes of iron-ore in the quarter – up 44% on that produced in the third quarter of 2013 and 11% higher than that produced... 

Atlas Iron responds to changing market with accelerated cost-savings plan

By: Esmarie Swanepoel Iron-ore miner Atlas Iron on Thursday said its expected its cost savings for 2015 to be higher than previously thought, as the company’s cash-cost initiatives surged during the three months to September. Atlas on Thursday told shareholders that all-in costs for the September quarter had reached... 

Atlas Iron responds to changing market with accelerated cost-savings plan

Cape Lambert granted mining licence at Marampa

By: Esmarie Swanepoel ASX-listed Cape Lambert on Thursday announced that it had been granted a mining licence for its own Marampa iron-ore project, in Sierra Leone. “I am delighted that the Ministry of Mineral Resources has finally approved the grant of Marampa’s mining licence so that we can get on with the process... 

Quebec govt and miners to undertake Labrador Trough rail feasibility

By: Henry Lazenby The Quebec government has formed a partnership with mining companies Champion Iron and Lac Otelnuk Mining to undertake a feasibility study for the construction of a multi-user railway, linking the port of Sept-Îles with the Labrador Trough, a 1 600-km-long geological belt rich in iron-ore... 

Baosteel taps ex-junior miner CEO for Australia iron ore project

By: Reuters China's Baosteel has snared the former boss of Iron Ore Holdings (IOH) to lead the development of its West Pilbara Iron Ore project in Australia, in a blow to IOH's new owner, BC Iron Ltd. BC Iron said on Wednesday former IOH MD Alwyn Vorster had resigned from the board of BC Iron as he had... 

Shaw River signs offtake deal with Noble

By: Esmarie Swanepoel ASX-listed Shaw River Manganese on Wednesday announced that it had secured an offtake agreement with Noble Resources International for up to 30 000 t of manganese from its flagship Otjozondu project, in Namibia. The sales contract was structured for fixed pricing, at different product... 

Cape Lambert to fund Timis Mining’s Marampa buy

By: Esmarie Swanepoel Resource investment company Cape Lambert on Wednesday announced that it had entered into a term sheet with Timis Mining to provide that company with about $20-million for its planned acquisition of the Marampa iron-ore project, in Sierra Leone, from the administrators of London Mining. Under the... 

Drilling at Cameroon iron-ore play reveals upside potential

By: Natalie Greve A reconnaissance drilling programme at West African Minerals’ South Sanaga iron-ore license, in Cameroon, has intersected multiple coarse-grained magnetite gneiss packages with grades and thicknesses sufficient to initiate a follow-up drill programme designed to deliver a maiden mineral resource... 

Iron-ore flood leaves little wriggle room for minnow Atlas

By: Reuters A flood of low-cost iron ore is driving tiny Australian miner Atlas Iron to its break-even point, underscoring the pain inflicted by a ramp-up in output by mega-producers Rio Tinto and BHP Billiton. Atlas, which raced into production half a decade ago when iron ore prices were booming on the... 

Flinders adds to Pilbara resource

By: Esmarie Swanepoel Iron-ore hopeful Flinders Mine has increased the resource at its flagship Pilbara iron-ore project, after nearly doubling the resource at the Blackjack deposit. Based on a recent drilling campaign at Blackjack, the deposit was now estimated to host some 86.2-million tonnes of resource, grading... 

Global supply glut increases iron-ore downside risks – Moody’s 

By: Henry Lazenby A growing oversupply in the iron-ore market was damaging the credit quality of producers and posed risks to the downside, Moody's Investors Service noted last week in a sector comment - ‘Iron-ore supply increases pose risk to market fundamentals’. Owing to an aggressive supply push by the major... 

Global supply glut increases iron-ore downside risks – Moody’s

China's CITIC wins trial date against Australian billionaire

By: Reuters An Australian court on Monday rejected billionaire politician Clive Palmer's attempt to stop a case brought against him by China's CITIC Ltd, and cleared the way for a trial in November. Palmer wanted the court to throw out CITIC's lawsuit, which alleges he used A$12-million ($10.5-million) that... 

Cliffs shares slide on prospect of $6bn Q3 asset impairment charge

By: Henry Lazenby US miner Cliffs Natural Resources on Friday reported that it expected to book a $6-billion after-tax noncash impairment on its seaborne iron-ore and coal assets in the third quarter, sending its NYSE-listed stock sliding as much as 10% during intraday trading. The Cleveland, Ohio-based company... 

Cliffs shares slide on prospect of $6bn Q3 asset impairment charge

Transnet rail graduates ‘seeds’ for future rail industry growth

By: Schalk Burger The graduation of 85 employees of State-owned logistics company Transnet Freight Rail (TFR) in rail sciences planted the seeds for future rail industry growth and formed an integral part of TFR’s R201-billion rail infrastructure roll-out plans, Transnet CEO Brian Molefe said on Thursday at the... 

Transnet rail graduates ‘seeds’ for future rail industry growth
TRANSNET FREIGHT RAIL The benefits to Transnet from the training are improvements in performance and productivity

Iron-ore boss at trader Glencore quits – source

By: Reuters The head of iron ore trading at commodities miner and trader Glencore, Christian Wolfensberger, has quit, according to a source with direct knowledge of the matter. Wolfensberger, a Swiss-born Glencore veteran with more than two decades of experience, was appointed to run the iron ore division... 

Grange reports record quarter at Savage River

By: Esmarie Swanepoel Magnetite miner Grange Resources has delivered a record quarter during the three months to September, with the miner producing 627 277 t of pellets, up 2% on the June quarter and 40% on the previous corresponding quarter. “A continued focus on maintaining access to high-grade ore, progressing... 

Major iron-ore expansions in current market ‘foolish’ – Fortescue CEO

By: Esmarie Swanepoel The CEO of iron-ore major Fortescue Metals, Nev Power, on Friday questioned the major investments in iron-ore in expansion projects while the prices remain low. “There is no point continuing to expand just because you are a dollar cheaper than the guy next door to you. What we should be looking... 

Major iron-ore expansions in current market ‘foolish’ – Fortescue CEO
Photo by Bloomberg
Fortescue CEO Nev Power

As one miner leaves Mozambique, others plan to further develop their projects

By: Keith Campbell Mining major Rio Tinto announced on October 8 that it had concluded the sale of Rio Tinto Coal Mozambique (RTCM) to India’s State-owned Indian Coal Ventures Private Limited (ICVL), “following the fulfilment of all conditions precedent and receipt of the necessary regulatory approvals,” as the... 

Kumba’s Kolomela mine produces its first entrepreneur

By: Zandile Mavuso In line with its vision to create sustainable development throughout the life-of-mine, Anglo American-owned company Kumba Iron Ore’s Kolomela mine has produced its first entrepreneur who owns a small construction company in Postmasburg. 

Iron-ore miner London Mining says to enter administration

By: Reuters Embattled West African iron-ore miner London Mining said on Thursday that its board had decided to place the company into administration. The company, which owns the Marampa mine, in Sierra Leone, has been battling high costs, a sharp drop in iron prices and the impact of the Ebola virus on... 

Iron-ore miner London Mining says to enter administration

SA’s mineral resources are auto industry’s only true advantage – Van Zyl

By: Irma Venter The only real competitive advantage the local automotive industry has over international competitors is the availability of natural resources in the country, says National Association of Automobile Manufacturers of South Africa president and Toyota South Africa Motors CEO Dr Johan van Zyl. “We... 

Exploration results confirm potential to boost Nayega resource

By: Leandi Kolver Exploration results from pit sampling at Aim-listed Ferrex’s Nayega manganese project, in Togo, have confirmed a number of targets with the potential to increase the project’s current Joint Ore Reserves Committee-compliant resource of 11-million tonnes, MD Dave Reeves said on Thursday. He noted... 

Fortescue ships record tonnes despite iron-ore price fall

By: Esmarie Swanepoel Iron-ore major Fortescue Metals has achieved its eighth consecutive shipping record during the three months to September, with the miner delivering 41.5-million tonnes of ore to customers. The increased shipping was up 7% on the previous quarter and an increase of 60% on the previous... 

Fortescue ships record tonnes despite iron-ore price fall

R50m virtual reality centre set to revolutionise mine design

By: Martin Creamer The University of Pretoria’s new virtual reality mine design centre, which is on track to go into test mode in April, is set to revolutionise both surface and underground mine design. A total of R50-million is being invested in the centre, which will be put into a three-month test phase ahead of... 

R50m virtual reality centre set to revolutionise mine design
Photo by Creamer Media
Prof Ronny Webber-Youngman (right) and Martin Creamer

With Glencore lurking, Rio Tinto stake gives Chinalco global clout

By: Reuters A seat on the board, a bigger role in the world's largest mining company, a copper project in Peru or full control of an iron-ore project in Guinea. Those are the sort of prizes Chinese aluminium firm Chinalco, the top shareholder in Rio Tinto, is likely to be looking for as trading giant... 

With Glencore lurking, Rio Tinto stake gives Chinalco global clout
The headquarters of Aluminum Corp. of China (Chinalco) in Beijing, China. Glencore has reportedly opened talks with Chinalco - Rio Tinto's top shareholder - to gauge interest in a tie-up with the diversified major.

Mick Davis X2 now sitting on nigh-$5bn war chest

By: Martin Creamer Old Xstrata recollections were reignited on Tuesday as former Xstrata CEO Mick Davis announced that his new X2 Resources had garnered in another $1-billion to take the incipient mining company towards financial reserves of close on $5-billion. A number of new investors have taken the X2 total up... 

Mick Davis X2 now sitting on nigh-$5bn war chest
Photo by Duane Daws
Flashback Mick Davis picture

Mineralogy adds more fuel to Citic fire

By: Esmarie Swanepoel Unlisted mineral resource developer Mineralogy has taken further steps to evacuate China’s Citic from its properties. On Wednesday, Mineralogy confirmed that it had issued Citic with a termination notice over the Mineralogy leases and port, which allows Citic to export iron concentrate from the... 

CME defends iron-ore miners against Barnett bashing

By: Esmarie Swanepoel The Western Australian Chamber of Minerals and Energy (CME) on Wednesday stepped in to defend the state’s iron-ore developers, saying they were meeting current global demand. The CME’s defence comes as state Premier Colin Barnett lashed out majors BHP Billiton and Rio Tinto, accusing the pair... 

India proposes grand merger of mining and steel companies

By: Ajoy K Das Indian steel producer Rashtriya Ispat Nigam Limited (RINL) has thrown its hat in the ring for a grand merger with the country’s largest iron-ore miner, NMDC Limited. The Indian government was already working on a proposal to merge KIOCL, an iron-ore pellet producer, with NMDC, and adding RINL... 

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