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Iron-ore flood leaves little wriggle room for minnow Atlas

By: Reuters     Updated 5 hours ago 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     Updated 6 hours ago 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
Marampa

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... 

Creamer Media publishes African Mining Roundup for October 2014 research report

This month’s report includes details of Toronto-listed Tsodilo Resources’ large inferred mineral resource in Block 1 of its flagship Xaudum iron project, in Botswana; the opening of London-listed diamond mining company Gem Diamonds’ Ghaghoo diamond mine, in Botswana; and LSE-listed Petra... 

Creamer Media publishes African Mining Roundup for October 2014 research report

S Africa considers declaring certain minerals as 'strategic'

By: Reuters South Africa's mines minister Ngoako Ramatlhodi said on Tuesday he was considering declaring certain minerals such as coal and iron-ore as "strategic" for the country. "We haven't classified any but it is provided for under the mineral bill which is before the president. If that bill is signed... 

S Africa considers declaring certain minerals as 'strategic'
Photo by Duane Daws
Mineral Resources Minister Ngoako Ramatlhodi

Platinum producers top mining/metals companies in sustainability data transparency index

By: Tracy Hancock The 2014 IRAS Sustainability Data Transparency Index (SDTI) report has been published, with platinum producer Anglo America Platinum (Amplats) topping the mining/metals companies list and ranking second out of the more than 300 companies assessed throughout South Africa and across all sectors in... 

Mount Gibson results solid despite sharp price drop

By: Esmarie Swanepoel Iron-ore miner Mount Gibson has reported solid results during the three months to September, despite the grandiose fall of iron-ore prices during the quarter. The miner on Tuesday reported total ore sales of 1.86-million tonnes during the quarter, compared with the 2.6-million tonnes sold in the... 

South African stocks rise, iron-ore producers recover

By: Reuters South African stocks gained on Monday led by mining companies such as Assore and Kumba Iron Ore after data showed Chinese imported more iron ore than expected in September. The benchmark Top-40 index added 0.64 to 42,181 while the All-share index climbed 0.59% to 47,368. 

Indian steel producers irked by NMDC holding prices

By: Ajoy K Das India’s largest iron-ore miner, NMDC Limited, has provoked the ire of local steel producers by maintaining iron-ore prices for the fourth consecutive month, despite steadily falling international prices of the raw material. Government-owned and -managed steel producer Rashtriya Ispat Nigam... 

IFM, Chrometco agree to start Rooderand chrome mining

By: Leandi Kolver London-listed International Ferro Metals (IFM) has signed an agreement with JSE-listed Chrometco for the start of mining at the Rooderand LG6 openpit mine, in the North West. IFM said the Phase 1 exploration drilling programme at the mine had been completed, with Phase 2 drilling, which was under... 

IFM, Chrometco agree to start Rooderand chrome mining

Baja Mining appoints new COO, expects first Boleo production this month

By: Henry Lazenby Following a tragic accident in which joint-venture firm Minera y Metalurgica del Boleo (MMB) lost its COO in a flash flood associated with hurricane Odile, which struck the West Pacific seaboard off Mexico and the US last month, the company, comprising a consortium of Korean companies and... 

Baja Mining appoints new COO, expects first Boleo production this month

India's JSW Steel 'very close' to deal for London Mining – source

By: Reuters India's third-largest steelmaker JSW Steel is nearing a deal to buy embattled West African iron-ore miner London Mining, a source with direct knowledge of the negotiations said on Friday. "JSW is very close to a deal. It is almost 100% done," the source said. 

India's JSW Steel 'very close' to deal for London Mining – source

Karara ups output in Sept quarter

By: Esmarie Swanepoel Remedial activities at the embattled Karara iron-ore project have resulted in a 35.5% increase in production during the quarter ended September, ASX-listed Gindalbie Metals reported on Friday. The Karara operation, in Western Australia, has been struggling to reach its nameplate capacity. 

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