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Ferrous Metals News

Mining Charter violates shareholder rights – Hogan Lovells

By: Martin Creamer     23rd June 2017 Mining Charter Three’s arbitrary increase of empowerment shareholding to 30% violates the property rights of shareholders, and the new charter’s requirement to pay 1% of yearly turnover is not expected to survive challenges under the Companies Act and the Constitution. Property rights under the... 

BHP agrees to new assessment in Pilbara

By: Esmarie Swanepoel     23rd June 2017 Diversified major BHP has agreed to a new strategic assessment programme with the federal government that locks in environmental standards and protection measures in the Pilbara. Environment and Energy Minister Josh Frydenberg said on Friday that the programme would protect the unique... 

Q3 ferrochrome price settles at 110c/lb – Merafe

By: Natasha Odendaal     23rd June 2017 JSE-listed Merafe Resources on Friday announced a decrease in the third quarter ferrochrome price. The European benchmark ferrochrome price decreased 28.6% from 154c/lb for the second quarter to 110c/lb for the third quarter. 

Multidisciplinary mining company says market is challenging

By: Simone Liedtke     23rd June 2017 With the general depletion of natural sand reserves around South Africa, especially within large cities, multidisciplinary materials openpit mining company Afrimat has invested in sand producing plants – especially in Gauteng – to produce high-quality concrete sands to ensure higher concrete... 

Multidisciplinary mining company says market  is challenging
CHALLENGING CONDITIONS Overall, the construction materials sector remains relatively flat

Top 40 miners returned to profitability in 2016 – PwC

By: Ilan Solomons     23rd June 2017 The world’s top 40 miners recovered from a “race to the bottom”, with bolstered balance sheets and a return to profitability in 2016, giving them much-needed space to pause and take a breath. This is according to advisory firm PwC’s ‘Mine 2017’ report, which was released on the sidelines of the... 

Top 40 miners returned to profitability  in 2016 – PwC
Photo by Duane Daws
IMPROVED BALANCE SHEETS The top 40 miners recorded a net profit of $20-billion in 2016, which was a significant improvement from the aggregate loss of $28-billion recorded in 2015

China mulls improving iron-ore index in pricing push

By: Reuters     22nd June 2017 China is planning improvements to an iron-ore price index it launched six years ago, looking to better reflect market dynamics in the world's top consumer of the steelmaking raw material and increase usage by market participants. China has been pushing for a greater say in pricing iron ore in... 

South32 awards R158m coal contract to 100% black-owned mining firm

By: Martin Creamer     22nd June 2017 Diversified mining company South32 has awarded a three-year, R158-million contract at the Wolvekrans Middelburg Complex to 100% black-owned Modi Mining, which aims to source up to 90% of its labour from the nearby communities. The award marks an advance on the ASX- and JSE-listed company’s plans... 

South32 awards R158m coal contract to 100% black-owned mining firm
Photo by Duane Daws
South32 president and COO Africa Mike Fraser

Carpentaria weighing expanded Hawsons project

By: Esmarie Swanepoel     22nd June 2017 The demand for ASX-listed junior Carpentaria Exploration’s Hawsons supergrade product has significantly increased, with Taiwanese conglomerate Formosa Plastics Group increasing its uptake. Formosa has now increased its nonbinding letter of intent to purchase Hawsons supergrade product from... 

Kasbah shakes tin can for funding

By: Esmarie Swanepoel     22nd June 2017 Tin hopeful Kasbah Resources is aiming to raise about A$5.2-million through a fully underwritten accelerated nonrenounceable rights issue. Shareholders will be offered one new fully paid ordinary share for every two shares held, at an issue price of 1.5c each. The offer price represents a 7.14%... 

Meridian strikes 20 000 t/y manganese offtake deal

By: Henry Lazenby     22nd June 2017 Junior manganese producer Meridian Mining has secured an offtake agreement for about 20 000 t/y, or about one-third of the planned 2017 production of high-grade manganese from its Brazil Manganese Corporation (BMC) project. The TSX-V-listed miner said the sales contract will comprise two... 

Mining Charter exposing South African economy to GATT angst  

By: Martin Creamer     21st June 2017 The procurement rules of the new Mining Charter may violate South Africa’s obligations under the General Agreement on Tariffs and Trade (GATT), exposing the country to challenges by other member states of the World Trade Organisation (WTO), Herbert Smith Freehills lawyers Peter Leon and Patrick... 

Mining Charter exposing South African economy to GATT angst
Photo by Duane Daws
Herbert Smith Freehills co-chair Peter Leon

Atlas defers 4Mt/y Corunna Downs project

By: Esmarie Swanepoel     21st June 2017 Iron-ore miner Atlas Iron has deferred the development of its Corunna Downs mine, with the miner instead aiming to increase production from the Mt Webber operation. Atlas in February approved the development of the Corunna Downs project, with capital costs estimated at between A$47-million and... 

Atlas defers 4Mt/y Corunna Downs project

Brierty suspends work at Rio's Western Turner Syncline

By: Esmarie Swanepoel     21st June 2017 Contract mining has been suspended at mining major Rio Tinto’s Western Turner Syncline Stage 2 iron-ore project, in the Pilbara. Mining contractor Brierty said on Wednesday that the company had received a notice of default from Rio Tinto, with the diversified miner raising safety concerns. 

Champion seals long-term rail transport pact

By: Henry Lazenby     20th June 2017 Quebec-based project reviver Champion Iron has attained another milestone in its endeavours to restart mining at the high-grade Bloom Lake iron mine, after its subsidiary Quebec Iron Ore (QIO) reached an agreement with the Quebec North Shore and Labrador Railway Company (QNS&L) to transport... 

Sula sees smooth Phase 3 drilling ramp-up at Ferensola

By: Anine Kilian     20th June 2017 Aim-listed Sula Iron & Gold has seen a smooth ramp up into Phase 3 of its 5 000 m drill programme at its Ferensola gold project, in Sierra Leone, with both rigs drilling day and night shifts at the Sanama Hill deposit. The first hole drilled on Sanama Hill is complete and is being logged while... 

Mining Charter set to worsen stakeholder relations – Bench Marks

By: Martin Creamer     20th June 2017 The new Mining Charter is the flawed outcome of inadequate consultation with communities, the board of the Bench Marks Foundation said on Tuesday, when it warned that the document is poised to worsen stakeholder relations. Bench Marks executive director John Capel condemned the new charter as a... 

Mining Charter set to worsen stakeholder relations – Bench Marks
Photo by Reuters
Rt Rev Dr Jo Seoka, chairperson of the Bench Marks Foundation, which has launched a scathing attack on the new Mining Charter.

Iron seen in low-$40s by Citi as supply grows, demand peaks

By: Bloomberg     20th June 2017 Iron-ore may extend a slump into the low-$40s as supplies swell and demand reaches a short-term peak amid steel mill restarts and ramp-ups in China, according to Citigroup, which cut its forecasts by as much as 20% over the next year. The nadir in prices may occur in six to eight months, analysts... 

Busiest project bidding period ever – ELB

By: Martin Creamer     20th June 2017 Johannesburg Stock Exchange-listed ELB Group is having its busiest project bidding period ever, and is seeing a strengthening in base metals and great opportunities in gold. “In the last six months, we’ve experienced our busiest bidding period ever,” ELB Group CE Dr Stephen Meijers told Mining... 

Busiest project bidding period ever – ELB
Photo by Duane Daws
ELB Group CE Dr Stephen Meijers

Winter electricity tariffs, low prices prompt Samancor to switch out furnaces

By: Megan van Wyngaardt     19th June 2017 Chrome producer Samancor Chrome intends to switch out furnaces at its eMalahleni, Middelburg, Steelpoort and Mooinooi operations, owing to the higher winter tariffs charged by Eskom, paired with a “sudden” downturn in the chrome market. The recent downturn saw chrome ore prices dropping from... 

Beowulf’s Swedish iron-ore project continues to face environmental approval delays

By: Megan van Wyngaardt     19th June 2017 Sweden’s Norbotten County Administrative Board (CAB), which is currently investigating the environmental impact of Aim-listed miner Beowulf’s Kallak North iron-ore exploitation concession, has said it needs more information to further assess the potential impact of a mining operation at Kallak... 

Beowulf’s Swedish iron-ore project continues to face environmental approval delays

Mt Gibson cancels offtake contract

By: Esmarie Swanepoel     19th June 2017 Iron-ore junior Mount Gibson Iron has terminated an offtake agreement with Xinyu Iron and Steel Group after the Chinese firm failed to comply with the terms of the agreement. The offtake agreement would have seen Hinyu purchase about one-quarter of the first year’s available production from the... 

Amplats' exit from Brazil platinum prospect sparks London listing

By: Martin Creamer     19th June 2017 The withdrawal of South Africa’s Anglo American Platinum (Amplats) from a platinum group metals (PGM) project in Brazil has opened the way for Jangada Mines to acquire the asset and head for the London Aim to raise an initial £2-million in equity capital to fund the project. Jangada chairperson... 

Amplats' exit from Brazil platinum prospect sparks London listing
Funding sought for Brazil platinum project

Trump administration probe into steel imports nearly done – US official

By: Reuters     16th June 2017 A Trump administration investigation into whether foreign-made steel imports pose a risk to US national security is nearly done, a senior US official said on Friday, ahead of the expected release of the probe's findings late next week. "It is nearing conclusion," the US administration official... 

Surface sampling confirms Giyani’s thesis of high-grade manganese in south-eastern Botswana

By: Henry Lazenby     16th June 2017 Results released earlier this week has confirmed a hunch by Canadian project developer Giyani Gold that the Transvaal Supergroup, which hosts roughly 80% of the world’s manganese reserves, extends from South Africa into south-eastern Botswana, giving it first-mover advantage in an area long... 

Cliffs picks Toledo site for first hot briquetted iron plant

By: Henry Lazenby     16th June 2017 US iron-ore producer Cliffs Natural Resources has chosen Toledo, Ohio as the site to develop its first hot briquetted iron (HBI) production plant – a $700-million expansion to Cliffs’ production capabilities targeting the electric arc furnace steel market. Cliffs advised that it is currently in... 

New version of breathalyser used at mines, industrial sites reduces chances of cheating

By: Mia Breytenbach     16th June 2017 To further improve the security of testing and reduce “cheating”, or circumvention of breathalyser tests, alcohol detection technology and services provider Alco-Safe is developing a new version of its ALControl breathalyser unit for application at mine and industrial sites. “The new unit,... 

New version of breathalyser used at mines, industrial sites reduces chances of cheating
PRODUCT OF INTEREST Alco-Safe has installed more than 15 of its new ALControl standalone breathalyser units at various coal mines in Mpumalanga in the past two months

Technological innovations will be key to success of seabed mining

By: Ilan Solomons     16th June 2017 Minerals from the deep sea, such as polymetallic nodules, ferromanganese crusts and hydrothermal sulfides are potential sources of metals such as copper, nickel, cobalt, manganese and iron. In future, depending on the development of suitable technologies, these minerals could be mined and metals... 

Chamber going to court to halt devastating charter blow to already battered mining sector 

By: Martin Creamer     15th June 2017 The Chamber of Mines of South Africa will be applying at the earliest opportunity for a court date for a declaratory order on continuing empowerment consequences, as well as immediately seeking an interim court interdict to suspend the implementation of Mining Charter Three, the devastating set... 

Chamber going to court to halt devastating charter blow to already battered mining sector
Photo by Creamer Media
Chamber of Mines of South Africa president Mxolisi Mgojo

GCC proposes 31% safeguard tariff on some iron and steel imports

By: Reuters     15th June 2017 The countries of the Gulf Cooperation Council are proposing a 31% safeguard tariff on imports of flat-rolled products of iron or non-alloy steel, they said in a filing published by the World Trade Organization on Thursday. The tariff would last for three years, falling to 28% in the second year... 

India assures domestic coal supplies for steel, cement companies

By: Ajoy K Das     15th June 2017 In another step towards zero coal imports, India’s Coal Ministry has offered assured domestic coal supplies to companies outside of the power generation industry. Under the new framework, coal consuming companies in the steel, cement and fertiliser sectors, would receive coal supplies from Coal... 

Kasbah incorporates review of Achmmach

By: Esmarie Swanepoel     15th June 2017 The results of an independent review of the definitive feasibility study (DFS) over the Achmmach tin project, in Morocco, will be incorporated into an updated DFS due in the fourth quarter of this year. ASX-listed Kasbah Resources on Thursday told shareholders that a technical review by AMC... 

ISS, Glass Lewis approve restructuring at Brazil's Vale – source

By: Reuters     15th June 2017 Consulting firms ISS and Glass Lewis have given a nod of approval to a restructuring plan for Brazilian miner Vale, boosting the chances of shareholder approval, a source said on Wednesday. The corporate restructuring process, announced on February 20, seeks to strengthen the company's... 

China iron-ore bounces off 7-month low as steel recovers

By: Reuters     14th June 2017 China's iron-ore futures bounced back from a seven-month low on Wednesday, tracking a recovery in steel prices, although concerns over surplus supply kept gains in check. The rebound may help stabilise spot iron-ore prices that hit their lowest level in a year this week. 

Rio Tinto CEO sees Canada as less business-friendly than in past

By: Reuters     13th June 2017 The chief executive of Anglo-Australian miner Rio Tinto , which owns iron ore, diamond and aluminum mines and processing facilities in Canada, said on Tuesday that it was becoming tougher to do business in the resource-rich country. "You know mining well and you understand its value, but to be... 

Rio Tinto CEO sees Canada as less business-friendly than in past
Photo by Bloomberg
Rio Tinto CEO Jean-Sebastian Jacques

China steel, iron-ore recover as worries about weak demand ease

By: Reuters     12th June 2017 Spot iron-ore and steel prices rose on Monday, clawing back some of the ground lost in recent weeks amid renewed hopes about stronger demand for metal even as worries persisted about a growing glut of iron ore in the world's top buyer. The most-active rebar on the Shanghai Futures Exchange was up... 

IHS Markit's materials price index registers 3.1% weekly decline

By: Henry Lazenby     9th June 2017 A broad basket of commodities tracked by market research house IHS Markit has declined the most in a single week since mid-April, falling 3.1% last week in a broad retreat. IHS senior economist Ben Orhan said in a news release to Mining Weekly Online on Thursday that the commodity price index... 

Alderon takes first step to remould management team

By: Henry Lazenby     9th June 2017 Project developer Alderon Iron Ore has appointed 30-year Newfoundland and Labrador government veteran Gary Norris as its new executive VP for government and community affairs, with immediate effect. The TSX-listed company, which is focused on its flagship Kamistiatusset (Kami) high-grade iron-ore... 

Emerging gas market drives Mozambique expansion

By: Nadine James     9th June 2017 The emerging gas market is one of the main factors driving gases and welding products supplier African Oxygen’s (Afrox’s) decision to expand its existing Mozambique operations. The company’s Mozambique strategy is being driven from its new 8 600 m2 headquarters, which will feature  a sales... 

Emerging gas market drives Mozambique expansion
Photo by Duane Daws
GASSED UP GROWTH The resurgence in oil, gas and mining investment in sub-Saharan Africa has resulted in Afrox growing its existing footprint
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