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Vale posts surprise loss, shares dive

By: Reuters Vale posted a surprise $1.44-billion loss, and its shares tumbled to a five-and-a-half-year low as investors worried about the cost of the Brazilian miner's expansion plans and a possible cut to its dividend in a new era of lower iron-ore prices. Vale cited low iron-ore prices and a weak local... 

Enviro permit granted for Nayega manganese project

By: Leandi Kolver Aim-listed iron-ore and manganese developer Ferrex on Thursday announced that the environmental permit for its Nayega manganese project, in Northern Togo, had been granted. The environmental permit set the conditions for the operation of the mine, with Ferrex noting that it was a major milestone... 

300 a year doing mechanised mining courses at Wits centre

By: Martin Creamer Three hundred people a year are doing courses in mechanised mining offered by the University of the Witwatersrand Centre for Mechanised Mining Systems (CMMS). CMMS director Dr Declan Vogt, who was interviewed by Mining Weekly Online at the university, sees one of the centre’s main roles as... 

300 a year doing mechanised mining courses at Wits centre
Photo by Duane Daws
CMMS director Declan Vogt

Northern Iron moves to battle lower prices

By: Esmarie Swanepoel Record quarterly concentrate sales have assisted ASX-listed Northern Iron in offsetting the declining iron-ore price. Concentrate production during the quarter reached 600 000 t, down from the 626 000 t produced in the previous three months. However, mine production reached 4.4-million tonnes,... 

Bloom Lake Phase 2 to proceed only if Cliffs can secure three equity partners

By: Henry Lazenby US miner Cliffs Natural Resources on Tuesday said there was no future for its Bloom Lake iron-ore mine, in Quebec, if the Phase 2 expansion was not undertaken. Speaking on his first quarterly results analyst telephone call as chairperson, president and CEO of the company, Laurenco Goncalves said... 

India’s Mines Ministry steps away from iron-ore tariff war

By: Ajoy K Das After taking up cudgels on behalf of mining companies, India’s Mines Ministry has washed its hands of the issue of lowering export duty on iron-ore exports. The Mines Ministry said in a communication that its primary mandate was overseeing production and governance of mineral resources of the... 

BC Iron slashes sales target on lower Nullagine output

By: Esmarie Swanepoel Iron-ore miner BC Iron on Tuesday downwardly revised its 2015 sales targets as it struggled to break even, following a tough September quarter. BC told shareholders this week that its Nullagine joint venture (JV), in Western Australia, was slowed during the quarter as the company implemented a... 

Sphere delays Askaf start

By: Esmarie Swanepoel The ASX-listed subsidiary of Glencore, Sphere Minerals, on Tuesday announced it would slow down the development of the Askaf iron project, in Mauritania, as it initiated a review. In a release to the market, the miner said that taking into account the time involved in this review, it was... 

Cliffs books $5.9bn loss on iron-ore, coal asset write-downs

By: Henry Lazenby US miner Cliffs Natural Resources has reported a third-quarter net loss of $5.9-billion, or $38.49 a share, after booking a $5.7-billion write-down of its iron-ore and coal assets. The Cleveland, Ohio-based company, which came under new management in July, following activist shareholder... 

Cliffs books $5.9bn loss on iron-ore, coal asset write-downs

Mali eyes $9.5bn rail projects to unlock iron ore, bauxite deposits

By: Reuters Landlocked Mali aims to diversify its mining sector away from gold with Chinese-built rail projects worth $9.5-billion that would link it to the Atlantic coast, even as slowing Chinese growth and falling commodity prices cool investment. The West African nation - the continent's third-largest... 

Mali eyes $9.5bn rail projects to unlock iron ore, bauxite deposits

Anglo American ships first ore from Minas-Rio

By: Natasha Odendaal The first ore from Anglo American’s Minas-Rio iron-ore project, in Brazil, has been shipped within budget, CEO Mark Cutifani said on Monday. The more than 80 000 t of iron-ore for the pellet feed market had been loaded onto a chartered vessel at the dedicated export terminal at the Port of Açu,... 

Anglo American ships first ore from Minas-Rio
Anglo American CEO Mark Cutifani

Hodges to buy Rio Tinto’s New Zealand iron sands assets

By: Esmarie Swanepoel The share price of junior Hodges Resources jumped 170% on Monday on news that the company had raised capital to acquire a 60% interest to a New Zealand iron sands project from the exploration arm of major Rio Tinto. Under the terms of the agreement, Hodges would acquire Rio Tinto Mining &... 

Mt Gibson suspends Koolan Island main pit

By: Esmarie Swanepoel Iron-ore miner Mount Gibson Iron has temporarily suspended mining in the main pit of its Koolan Island operation, in Western Australia,. The ASX-listed miner said the suspension of mining was taken as a precautionary measure to allow the company to monitor and repair an area of instability in... 

Mindoro Resources ships first iron-ore from Philippines

By: Henry Lazenby TSX-V- and Frankfurt-listed Mindoro Resources this week reported that it had completed the first shipment of high-iron/low-nickel direct shipping ore (DSO) from the Agata project, located in northern Mindanao, in the Philippines. The shipment of 54 181 wet metric tonnes (wmt) of limonite ore,... 

Mining companies Down Under being forced to call in administrators, shed jobs as commodity prices decline

By: Esmarie Swanepoel While largely living up to its popular nickname the ‘Lucky Country’ by remaining relatively untouched by the global financial crisis, Australia – and more specifically its resources sector – has not been immune to falling commodity prices. The declining prices of coal and iron-ore, in particular,... 

Mining companies Down Under being forced to call in administrators, shed jobs as commodity prices decline

Mining companies Down Under being forced to call in administrators, shed jobs as commodity prices decline

By: Esmarie Swanepoel While keeping its nomer as the ‘Lucky Country’ by remaining relatively untouched by the global financial crisis, Australia ¬– and more specifically its resources sector – has not been immune against falling commodity prices. The declining prices of coal and iron-ore, in particular, have had a... 

Mining companies Down Under being forced to call in  administrators, shed jobs as commodity prices decline

Vale lifts Q3 iron-ore output to historic highs

By: Henry Lazenby 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 was 85.7-million tonnes in the period, underpinned by the ramp-ups of Plant 2 at... 

Vale lifts Q3 iron-ore output to historic highs

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
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