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Creamer Media publishes Real Economy Insight: Iron-Ore 2015 brief

This six-page brief is a synopsis of key developments in the iron-ore sector over the past 12 months, including details of the global and South African iron-ore markets, as well as prospects for the secto 

India’s Supreme Court orders auction of 15 Karnataka iron-ore mines

By: Ajoy K Das India’s Supreme Court has directed that 15 iron-ore mines in the southern province of Karnataka will have to be put up for auction and the process completed within the next 32 weeks. The apex court order would impact even those mines that had been brought back into production in 2013 after the... 

‘Fair’ steel pricing model will cap good-times upside, offer bad-times collar

By: Terence Creamer Embattled South African steel producer ArcelorMittal South Africa (AMSA) has offered insight into the “fair pricing model” it has tabled before government in return for tariff protection and a government stipulation that locally manufactured steel be designated for used public infrastructure... 

‘Fair’ steel pricing model will cap good-times upside, offer bad-times collar

AMSA flags iron-ore import plan as it seeks new pricing deal with Kumba

By: Terence Creamer Steel producer ArcelorMittal South Africa (AMSA) signalled on Friday that it was aiming to reopen historically fraught iron-ore pricing negotiations with Kumba Iron Ore, with CEO Paul O’Flaherty describing the current cost-plus arrangement as unsustainable in light of dramatic declines in... 

AMSA flags iron-ore import plan as it seeks new pricing deal with Kumba
Photo by Duane Daws
ArcelorMittal South Africa CEO Paul O’Flaherty

South Africa's ArcelorMittal reports wider H1 loss

By: Reuters Africa's largest steelmaker ArcelorMittal South Africa said on Friday its half-year losses widened amid lower international demand and a weak economy in its home market. Its headline loss per share rose to nearly 25 cents per share for the six months ended 30 June from 2 cents a year earlier, the... 

South Africa's ArcelorMittal reports wider H1 loss
Photo by Duane Daws
Newcastle Works

Resources Watch

By: Creamer Media Reporter This week: South Africa’s new JSE-backed oil and gas code is globally aligned. And, low iron-ore prices are killing jobs at Kumba. 

Resources Watch

Kenya's senate passes mining law

By: Reuters Kenya's mining ministry on Wednesday said the country's senate had passed a mining bill which will give the government a 10% stake in new projects, taking it a step closer becoming law. The bill was approved by the national assembly last year and now needs to be signed by President Uhuru... 

Kenya's senate passes mining law

Brazil's Vale resumes Amazon rail expansion after suspension

By: Reuters Brazilian miner Vale said on Wednesday it had resumed work on the expansion of a rail line which is part of its giant Carajas iron-ore project in the Amazon after a court suspension was lifted. Work had been partially stopped since July 9, due to the potential impact on a nearby indigenous... 

Despite iron-ore headwinds, Cliffs is back in the black

By: Henry Lazenby Global miner Cliffs Natural Resources has in the past 12 months managed a return to profitability despite the iron-ore price declining this month to its lowest level since at least 2009, as the largest producers, such as Rio Tinto and BHP Billiton, boosted output into an oversupplied market. For... 

Study shows 20-yr mine life potential at Sable’s Nimba play

By: Natalie Greve Detailed mine scheduling conducted as part of metallurgical testwork at the Plateau 2 area of Sable Mining Africa’s 205.2-million-ton Nimba iron-ore project, in Guinea, has indicated a life-of-mine of more than 20 years and highlighted the operation’s ability to sustain production of high-quality... 

NRW wins A$140m Rio contract

By: Esmarie Swanepoel Project house NRW Holdings has been awarded a A$140-million contract from mining major Rio Tinto at the Nammuldi iron-ore mine, in Western Australia. The scope of the contract included the construction of mine haul roads, ore stockpiles, waste dumps and other mine infrastructure, as well as... 

Speculators show global commodities rout still not over 

By: Reuters Speculators have confirmed what everyone else has been thinking: expect more falls in commodities, as worries about China and higher interest rates combine with waning sentiment to suggest markets are heading further south. But while more losses are certain, their scope could be limited because... 

Weak commodities to weigh on rand, current account and growth 

By: Terence Creamer The sharp decline in commodity prices is, on balance, negative for the outlook for the South African rand, new bank research shows, with lower oil prices being more than offset by lower mineral and metals prices. Standard Bank head of South African research Walter de Wet highlights that crude oil... 

Weak commodities to weigh on rand, current account and growth

Australia's Roy Hill iron-ore mine said to be facing short delay

By: Reuters The start-up of the $10-billion Roy Hill iron-ore mine under construction in Australia has been postponed until the second week of October because of bad weather and safety problems earlier this year, according to a media report. The mine, 70% owned by Australian billionaire Gina Rinehart's... 

Odisha government submits new plans to salvage Posco investment

By: Ajoy K Das South Korean steel major Posco might be packing up its $12-billion steel mill project in India; however, the provincial government of Odisha is making a last ditch effort to prevent it, offering the Korean company raw iron-ore material. The provincial government had been in frantic... 

Atlas shares fall 70% as trading resumes

By: Esmarie Swanepoel The share price of iron-ore miner Atlas Iron tumbled nearly 70% on Monday as the company resumed share trading after more than three months. Atlas in April suspended share trading shortly before announcing the suspension of its operations in the Pilbara, as the iron-ore price crashed and... 

Atlas shares fall 70% as trading resumes

With metals slumping, investors seek miners that can weather storm

By: Reuters A slump in metals prices this week and worries over China's growth prospects have heightened investor scrutiny of whether mining companies have the ability to weather the storm ahead. China accounts for almost half of global copper demand, 70% of iron-ore consumption and vies with India to be... 

Jobs decline on commodity prices, mechanisation

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about Kumba Iron Ore's job cuts as well as Anglo American Platinum's results. 

Jobs decline on commodity prices, mechanisation

China continues to drive iron-ore demand

By: Dylan Stewart Despite the likely weakening of China’s demand for iron-ore, owing to the continuing decline of its real estate market and overall lower pace of urbanisation, the country’s lower projected 2015 gross domestic product was still expected to increase its mineral-demand base by about $1-trillion,... 

China continues to drive iron-ore demand
Photo by Duane Daws
DION SHANGO Miners across all metals and minerals continued to focus on core operations, reducing costs and improving capital discipline

Company pushing to bring closed lubrication system into iron-ore space

By: Dylan Stewart Over the next 18 months oil and lubrication company Shell will target the iron-ore market and introduce its bulk grease customer value proposition (CVP) through the Shell Grease Truck to various iron-ore mines in South Africa, says Shell South Africa technical manager Hentie Spangenberg. 

Company pushing to bring closed lubrication system into iron-ore space
LOADED The Grease Truck carries six containers called rockets with a capacity of 1400 kg of grease per rocket

Expected mine tonnage increases at Guinea project

By: Dylan Stewart Aim-listed exploration company Sable Mining Africa in February announced an increase in the total Joint Ore Reserves Committee- (Jorc-) compliant resource for its Nimba iron-ore project, in south-east Guinea, from 181.8-million tonnes to 205.2-million tonnes. 

Investors can consider the next generation of iron-ore, says expert

By: Dylan Stewart Once demand starts to improve and the oversupplied market corrects itself, investors may start to think about where the next generation of iron-ore will come from as gaps for future demand begin to emerge, says Sahaj Capital MD Antony Rayment. 

Investors can consider the next generation of iron-ore, says expert
Photo by Bloomberg
WORK TO DO Africa’s competitiveness in terms of iron-ore production is further significantly curtailed by a lack of infrastructure in terms of power generation, rail lines and ports

Iron-ore forward-price strategies help miner manage price tumble

Australian iron-ore company Atlas Iron announced this month that forward sales arrangements are providing it with a measure of near-term protection against iron-ore price falls while retaining some exposure to price upside.  

Iron-ore surplus will persist – consultancy

By: Dylan Stewart Australian iron-ore miners’ intentions to increase their production, slow demand from India and China, and displaced high-cost miners will continue to contribute to the long-term global surplus of iron-ore, which has halved the price of the commodity over the past two years, says mining... 

Iron-ore surplus will  persist – consultancy
LARA SMITH Some west African countries rely on iron-ore to stimulate their economies

Kumba to relocate VIU facility to Joburg

By: Dylan Stewart Mining major Kumba Iron Ore, a business unit of Anglo American, will start moving its value-in-use (VIU) facility, in the west of Pretoria, to the Anglo American technical solutions facility, near Crown Mines, in the south of Johannesburg, by the end of the year, with commissioning at the new... 

Pakistan steel company receives 73 000 t of iron-ore

In June two cargo vessels delivered a total of 73 000 t of iron-ore to Pakistan Steel Jetty for State-owned Pakistan Steel Mills (Paksteel). 

Struggling iron-ore, Ebola hurt Sierra Leone

A report by professional services business Adam Smith International, released in June, reveals that a struggling iron-ore sector and Ebola-related quarantine restrictions severely damaged Sierra Leone’s economy. 

Brazil's Vale hits second-quarter iron-ore record

By: Reuters Brazilian mining company Vale said on Thursday it produced 85.3-million tonnes of its own iron-ore in the second quarter, a record for the quarter and second highest ever for the firm. The total was 7.4% higher than the same period last year as the world's largest iron-ore producer continues to... 

‘Poor citizen’ AMSA promises to mend ways as it seeks support to save Vereeniging and company 

By: Terence Creamer South Africa’s largest steel producer ArcelorMittal South Africa (AMSA) gave notice on Thursday that it was weighing the partial or full closure of its Vereeniging Works, in southern Gauteng, and would make a decision of the plant’s future by the end of August. At the same time, CEO Paul... 

‘Poor citizen’ AMSA promises to mend ways as it seeks support to save Vereeniging and company
Photo by Duane Daws
ArcelorMittal South Africa CEO Paul O’Flaherty

AMSA H1 loss seen up to 14-fold wider

By: Reuters Africa's biggest steel maker ArcelorMittal South Africa flagged as much as 14-fold wider half-year loss on Thursday, citing tough trading conditions and higher finance costs. Steel makers across the world are suffering from weak prices due to a global oversupply of the metal. 

AMSA H1 loss seen up to 14-fold wider

Tech savvy O’Neill streaks up Anglo ladder

By: Martin Creamer Technical fundi Tony O’Neill, who put his imprimatur on game-changing technology during his short spell in South Africa, has been appointed with immediate effect to the board of Anglo American as an executive director, less than two years after taking over the company’s technology, business... 

Tech savvy O’Neill streaks up Anglo ladder
Photo by Duane Daws
Tony O'Neill
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