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Ferrous Metals News

First phase of Dingleton relocation project under way

By: David D‘ Oliveira The first phase of Kumba Iron Ore’s relocation of the Dingleton community in the Northern Cape officially got under way this week with the first households moved into their new homes in Kathu. The R4.2-billion relocation project was an important element of Kumba’s Sishen Mine’s western expansion,... 

Five mineral value-chains prioritised in South Africa’s draft beneficiation plan

By: Terence Creamer The Mineral Beneficiation Action Plan (MBAP), which is currently in draft form, should be finalised by the end of March 2015, the Department of Trade and Industry (DTI) has confirmed. The department is leading the drafting process, which also involves the National Treasury, the Economic... 

Five mineral value-chains prioritised in South Africa’s draft beneficiation plan
Photo by Duane Daws
Steel among the five resource value-chains being prioritised

African Minerals considers partial sale of Tonkolili stake

By: Creamer Media Reporter London-listed African Minerals, which holds a 75% stake in the Tonkolili iron-ore mine, in Sierra Leone, is considering the partial sale of its interest in the project, as a means to deal with the immediate liquidity issues facing the project. Trading in the company’s shares on the LSE was... 

African Minerals considers partial sale of Tonkolili stake

Quebec's ambitious Plan Nord mineral project goes south

By: Reuters A plan by the Canadian province of Quebec to spend billions to develop the mineral riches of its northern region has been dealt a crippling blow by the pending closure of a major mine as iron ore prices sink and China's interest wanes. The Plan Nord project hopes to attract C$80-billion... 

African Eagle buys LCR, embarks on equity raising

By: Natasha Odendaal Dual-listed African Eagle Resources on Thursday announced plans to buy Lime-Chem Resources (LCR) for $6-million, less the value of net debts and trade and other payables owed by LCR. The company, for which AltX and Aim trading was currently suspended, entered into a conditional agreement that... 

With iceman on the way, US plants and suppliers get ready

By: Reuters US Steel is stockpiling extra iron ore ahead of what could be another record-long freeze-up of the Great Lakes. General Motors has built up inventories of critical parts at its plants and established a supply chain "crisis room" that will swing into action in the event of a major winter storm. 

Tete mining title application accepted – Baobab

Aim-listed Baobab Resources reported on Wednesday that the cadastre division of the Mozambique National Department for Mines (DNM) had accepted its mining concession application overlying the Tete pig-iron and ferrovanadium project. Once granted, the mining concession would be valid for 25 years... 

Bloom Lake may close as Cliffs to pursue exit options for Eastern Canadian operations

By: Creamer Media Reporter The Bloom Lake mine, in Fermont, Québec, may close as NYSE-listed mining and natural resources company Cliffs Natural Resources pursues exit options for its Eastern Canadian iron-ore operations.  Cliffs chairperson, president and CEO Lourenco Goncalves said on Wednesday that despite the continued... 

Bloom Lake may close as Cliffs to pursue exit options for Eastern Canadian operations

NZ billionaire sees hope in Australia iron-ore gloom

By: Reuters New Zealand's billionaire Todd family stepped up bets on Australia's beleaguered iron ore sector on Wednesday when iron ore prices slid to new five-year lows, boosting its stake in a company that aims to start producing in 2017. Todd Corp agreed to buy A$4.5-million ($3.9-million) in new shares... 

Tug boat engineers plan short strike at Australian iron-ore port

By: Reuters ug boat engineers at Port Hedland, Australia's biggest iron ore port, plan to hold a four-hour work stoppage on November 22, tug operator Teekay Shipping said, threatening exports from BHP Billiton and Fortescue Metals Group. The Australian Institute of Marine & Power Engineers (AIMPE) has given... 

Jubilee gains full control of Pollux, starts trial processing of platinum-containing material

By: Creamer Media Reporter Dual-listed Jubilee Platinum has entered into a deal that will see it take full ownership of subsidiary company Pollux, which holds the platinum group metal (PGM) processing rights to the Dilokong chromite mine (DCM) platinum recovery project, in Limpopo. Jubilee would acquire Emerald Panther... 

Environmental nod for Mount Bruce’s 70Mt/y iron-ore mine

By: Esmarie Swanepoel The Western Australia Environmental Protection Authority (EPA) has given its blessing to Rio Tinto subsidiary Mount Bruce Mining to develop the Koodaideri iron-ore mine and related infrastructure. The Koodaideri project was expected to deliver about 70-million tonnes of iron-ore per year, over a... 

Potential funding lined up for West Pilbara iron-ore project

By: Esmarie Swanepoel China’s Baosteel and its partner Aurizon have signed a memorandum of understanding (MoU) with Australian financial institution ANZ and the China Development Bank for the potential development of the West Pilbara iron-ore project. Baosteel and freight transporter Aurizon acquired the West Pilbara... 

Sphere looks to demobilise Askaf contractors

By: Esmarie Swanepoel The ASX-listed subsidiary of Glencore, Sphere Minerals, this week told shareholders that it would demobilise its construction contractor and sub-contractors at its Askaf iron project, in Mauritania. The demobilisation of the contractors was pending on the results of a review launched in October... 

Apollo sells Mt Oscar

By: Esmarie Swanepoel ASX-listed junior Apollo Minerals has sold its Mt Oscar iron project, in Western Australia, for A$500 000 in cash. The Mt Oscar project, some 25 km south of the port of Cape Lambert, had an exploration target of between 350-million and 650-million tonnes, grading between 31% and 37% iron. 

TNG seals Chinese offtake deal for Mt Peake project

By: Esmarie Swanepoel Vanadium developer TNG has signed an offtake agreement with Chinese raw materials supplier Sinometal, for product that its Mt Peake vanadium/titanium/iron project, in the Northern Territory, would produce. The heads of agreement (HoA) was focused on the sale of between 500 000 t/y and... 

Rio Tinto and Sinosteel extend Pilbara JV

By: Esmarie Swanepoel Mining giant Rio Tinto has inked a heads of agreement (HoA) with Sinosteel Corporation to extend the Channar Mining iron-ore joint venture (JV), in the Pilbara. The original Channar JV was signed in 1987 and provided for the production of 200-million tonnes of iron-ore. It was extended in 2010... 

TVI Pacific completes second nickel shipment from Philippine project

By: Henry Lazenby Calgary-based TVI Pacific, which owns a 60% interest in the Agata iron/nickel laterite project, in the Agusan del Norte province, Philippines through subsidiary TVI Resource Development (TVIRD), on Friday said it had completed a second shipment of direct shipping ore (DSO). The high-iron,... 

Ferrochrome smelter’s slashed power use opens way for major value-adding boost

By: Martin Creamer STEELPOORT, Mpumalanga – The Lion ferrochrome smelter owned and operated by the Glencore Merafe Chrome Venture, uses 37% less electricity than conventional ferrochrome processes to produce the equivalent volume of ferrochrome. In addition, the smelter needs far less coke than conventional... 

Ferrochrome smelter’s slashed power use opens way for major  value-adding boost

Small Brazilian iron-ore miners soldier on amid low prices

By: Reuters Small Brazilian iron-ore miners are proving resilient in the face of low global prices, pushing ahead with expansion projects even as that reduces the chance of a quick rebound in prices. Interviews with five iron-ore "juniors" operating in Brazil showed players in this section of the industry,... 

Largo Resources receives formal operating licence for Brazil flagship

By: Henry Lazenby TSX-listed Largo Resources has received a formal operating licence for its flagship Maracas Menchen vanadium mine, in Brazil. The company said on Tuesday that it had been operating on a preliminary operating licence, which it received in May that allowed it to start the production ramp-up and to... 

Citigroup slashes 2015 iron-ore price forecast, sees drop below $60

By: Reuters Citigroup has slashed its iron ore price forecast for 2015, predicting the steelmaking ingredient could drop below $60 per tonne in the most bearish estimate yet from a financial institution on the glut-hit commodity. "We expect renewed supply growth to once again drive the market lower in... 

India's Sesa expects to restart Karnataka iron-ore mine soon

By: Reuters Sesa Sterlite Ltd, India's top private iron ore miner, expects to "soon" resume mining in Karnataka state and produce at its court-set limit of 2.29-million tonnes in the year ending March, a company official told Reuters on Tuesday. The company in August stopped producing from its lone... 

As China demand slows, Indian iron-ore imports surge to record

By: Reuters India's iron ore imports jumped to a record five-million tonnes in April-October, industry data showed, as a deepening shortage at home forces steelmakers to turn overseas for the raw material. Gathering momentum in Indian imports should absorb some of the global surplus of iron ore and help... 

EPA blocks Sinosteel’s WA expansion project on environmental concerns

By: Esmarie Swanepoel The Western Australian Environmental Protection Authority (EPA) has recommended that Sinosteel Midwest Corporation’s proposed development of a new mine pit on the Mungada Ridge, in the Blue Hills, should not be approved. EPA chairperson Dr Paul Vogel said this week that the proposed Blue Hills... 

Centaurus looks at increased foothold in Brazil

By: Esmarie Swanepoel Metals developer Centaurus was looking to increase its direct shipping ore (DSO) footprint in Brazil, with the company taking an option to acquire a portfolio of prospective tenements located some 8km from its Candonga DSO project. Initial surface exploration on two of the new exploration... 

ArcelorMittal trying to make up lost time in Liberia – CEO

By: Reuters ArcelorMittal SA , the world's largest steel producer, is looking at ways to make up for lost time in the expansion of its Liberia iron-ore project after the Ebola outbreak in the region, the company's head of iron-ore said on Monday. ArcelorMittal will announce a new time frame for the project... 

Struggling miners see silver lining in FX, cheaper oil

By: Reuters Global mining companies stung by slumping commodity prices are looking forward to a modest consolation prize - weaker local currencies and falling oil prices that will help trim their costs. Metal prices have plunged to multi-year lows as the US dollar strengthened against a basket of... 

Afarak lifts Q3 revenue despite narrowed output

By: Natalie Greve Chrome producer Afarak has lifted revenue for the third quarter, ended September 30, by 32.1% to €40.6-million, largely on the back of a 131.9% increase in processed materials sold to 26 347 t. However, the Finland-based company, formerly known as Ruukki Group Oyj, posted a 28.3% drop in earnings... 

Afarak lifts Q3 revenue despite narrowed output
Mogale Alloys

Australia's ANZ cuts 2015 iron-ore price forecast by over 20% to $78/t

By: Reuters Australia's ANZ Bank on Monday slashed its 2015 iron-ore price forecast to an average $78/t from $101/t, citing a mounting supply glut and weak demand for the steelmaking ingredient in China, the world's top importer. The revision puts ANZ, previously among the more bullish on iron-ore's... 

Mt Gibson downgrades outlook

By: Esmarie Swanepoel Iron-ore miner Mount Gibson on Monday lowered its full-year sales guidance from between 6.6-million and 7-million tonnes to between 6-million and 6.4-million tonnes following a change in schedule at its Koolan Island operations, in the Kimberley region, in order to resume production in the Main... 

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