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Falling prices prompt BC and MinRes to amend agreement

By: Esmarie Swanepoel     Updated 8 minutes ago Iron-ore miner BC Iron and fellow-listed Mineral Resources have amended the terms of the existing Iron Valley iron-ore sales agreement, in an effort to negate the declining market conditions. Mineral Resources signed the initial Iron Valley agreement with Iron Ore Holdings (IOH) in February last... 

Radar cancels rights issue, hopes to amend purchase terms

By: Esmarie Swanepoel ASX-listed junior Radar Iron was looking to amend the sales agreement of its Yerecoin project buy, after the company was forced to abandon a A$4.6-million rights issue. In September this year, Radar announced its plans to raise A$5.5-million through a rights issue and share placement. Some... 

Cockatoo Island set for new mine plan - Pluton

By: Esmarie Swanepoel The receivers and managers of iron-ore junior Pluton Resources were in the process of formulating a long-term mining and operations plan for the Cockatoo Island project, the company said this week. In November this year, project house Watpac was ordered to undertake a limited scope of mining... 

India's Tata Steel restarts key iron mines amid shortage

By: Reuters India's Tata Steel Ltd resumed production from two of its four iron ore mines on Tuesday, a company source and a government official said, cutting a shortage that had forced the company to import the raw material for the first time. Court restrictions over the past three years to curb illegal... 

Sundance strips down on costs and board members

By: Esmarie Swanepoel Iron-ore developer Sundance Resources on Tuesday announced a number of cost cuts as part of a cash management strategy while the company moved ahead with the development of its Mbalam-Nabeba iron-ore project, on the border between Cameroon and the Republic of Congo. The company told shareholders... 

Kazakh ENRC sues Zamin to repay $65 mln over Brazil mine

By: Reuters Kazakh mining firm ENRC on Monday sued Indian billionaire Pramod Agarwal's mining firm Zamin for the repayment of a $65-million loan, the latest chapter in a legal battle between Indian and Kazakh tycoons over a Brazilian iron-ore project. The latest filing in a British court comes after a Zamin... 

Chrome, platinum prices likely to recover – Tharisa

By: Martin Creamer The price of chrome concentrate and the basket price of platinum group metals should recover in 2015, which could mean fourth-quarter profit for the JSE-listed Tharisa Minerals should it achieve its number-one priority of steady state production. Tharisa CEO Phoevos Pouroulis told Mining Weekly... 

Chrome, platinum prices likely to recover – Tharisa
Phoevos Pouroulis

BHP Billiton marks China iron-ore shipping milestone

By: Esmarie Swanepoel Mining giant BHP Billiton this week shipped its one billionth tonne of iron-ore to China. CEO Andrew Mackenzie said on Friday that China was of immense importance to BHP and to Australia as a whole, with the company striving to develop closer ties with the Asian nation and to contribute to its... 

Sundance extends Hanlong loan term

By: Esmarie Swanepoel Iron-ore developer Sundance Resources has extended the maturity date of its existing A$5-million convertible note with Hanlong Mining Investment from the end of 2014 until the end of 2015. From January next year, Sundance would pay an interest rate of 10% a year on a quarterly basis on the... 

Waning investor confidence, weak commodity prices among factors limiting growth of African mining sector

By: Jade Davenport Along with the Arctic, sub-Saharan Africa remains the most underexplored and highly prospective mineralised region on earth. However, despite its ‘open for business’ approach and myriad investment opportunities – in terms of greenfield and brownfield projects across the commodity spectrum –... 

Waning investor confidence, weak commodity prices  among factors limiting growth of African mining sector

Ferrochrome smelter uses significantly less electricity

By: Martin Creamer 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 smelters and uses significant... 

Ferrochrome smelter uses significantly less electricity
Photo by Duane Daws
IMPRESSIVE ELECTRICITY CONSUMPTION The Lion ferrochrome smelter uses 37% less electricity than conventional ferrochrome processes

Smelter engineer delivers electrode columns for furnace project

By: David D‘ Oliveira South African smelter engineering firm Metix has successfully commissioned the electrode columns used in the C and D furnaces at the Glencore Merafe Chrome Venture’s Lion Ferrochrome Phase 2 expansion project, in Steelpoort, Limpopo. Metix technology equipment manager Ivan Holl tells Mining... 

Smelter engineer delivers electrode columns for  furnace project
UPPER ELECTRODE COLUMNS The upper sections of the electrode column, comprising the slipping device, at the Glencore Merafe Chrome Venture’s Lion Ferrochrome Phase 2 expansion project, in Steelpoort, Limpopo were lifted and secured to the supporting beams of the building

BHP Billiton sees China steel consumption slowing in 2015

By: Reuters Iron-ore giant BHP Billiton expects Chinese steel consumption growth to slow next year and has already adjusted its strategy to cope with a supply glut that has caused global prices to collapse, executives said on Thursday. "We anticipated the change towards current market conditions and the... 

Tighter coal market in sight – Glencore

By: Martin Creamer A natural tightening of the coal market as a result of demand catching up with supply will happen in the near future, says Glencore Coal CEO Peter Freyberg. Freyberg, who was addressing Glencore’s investor day, made the point that coal is not in the same over-supply situation as iron-ore and that... 

Tighter coal market in sight – Glencore
Photo by Bloomberg
Peter Freyberg

Tawana names Richards CEO amid board restructure

By: Natalie Greve As part of its continuing focus on the development of the flagship Mofe Creek iron-ore project, in Liberia, Sydney-listed Tawana Resources announced on Thursday that Wayne Richards would step in as CEO of the company, while retaining his position as chairperson. Len Kolff would be appointed... 

India’s NMDC to float JV with provincial government

By: Ajoy K Das The local government of the east Indian province of Odisha has firmed up plans for a joint venture (JV) with the country’s largest iron-ore miner NMDC Limited to explore resources in the region. Orissa Mineral Corporation (OMC), the provincial government’s mineral exploration and production... 

BC Iron cuts spending at Nullagine JV

By: Esmarie Swanepoel Iron-ore miner BC Iron on Thursday announced that it would decrease capital expenditure (capex) at its Nullagine joint venture, with miner Fortescue Metals, by about A$10-million during 2015. The miner said that capital spend at the project would now range between A$13-million and A$16-million... 

Capital misallocation lowering commodity prices – Glencore

By: Martin Creamer Capital misallocation, not a lack of demand, remained the key factor in the current low level of several commodity prices, Glencore CEO Ivan Glasenberg said on Wednesday. Highlighting the need to differentiate by commodity in allocating capital, Glasenberg said at the company’s investor day in... 

Capital misallocation lowering commodity prices – Glencore
Photo by Duane Daws
Ivan Glasenberg

Equatorial secures mining convention for Congo project

By: Esmarie Swanepoel ASX-listed Equatorial Resources has signed a mining convention agreement over its Mayoko-Moussondji iron project in the Republic of Congo. The mining convention, which followed the grant of a 25-year mining licence in March this year, defined the fiscal rights and legal obligations of both the... 

Indian govt to intervene in Posco licence

By: Ajoy K Das India’s federal government would intervene in the grant of a prospecting licence to South Korean steel major Posco, a crucial step for its $12-billion steel plant in the eastern Indian province of Odisha, which has been hanging fire for over a decade in the absence of iron-ore linkage. A... 

Iron-ore price nears 5-year low

By: Reuters SINGAPORE – Iron-ore dropped to near its lowest level in more than five years, reflecting sustained pressure from a supply glut and slower Chinese steel demand, with banking an financial services group Citigroup seeing further weakness early next year. China's steel and iron-ore production was... 

Mining on cusp of business transformation – Dassault Systèmes

By: Martin Creamer The mining industry is on the cusp of business transformation similar to what manufacturing experienced decades ago, says Dassault Systèmes VP natural resources Marni Rabassó. During the time that mining was able to ride the commodity price curve without feeling too much pressure to change, the... 

Mining on cusp of business transformation – Dassault Systèmes
Marni Rabassó

Alderon implements comprehensive cash preservation plan

By: Henry Lazenby Maritime Canada-focused direct shipping iron-ore project developer Alderon Iron Ore on Tuesday slammed on the brakes on its flagship Kami project, implementing a comprehensive cash preservation programme that would allow the company to maintain a healthy working capital position into 2017 without... 

Alderon implements comprehensive cash preservation plan

Anglo striving to end SA coal productivity lag, eyeing 40% iron-ore HQ cut

By: Martin Creamer Hugely lagging productivity in Anglo American’s South African thermal coal operations is coming under intense scrutiny and head office roles at Kumba Iron Ore may be cut by 40%. In response to Mining Weekly Online query on the accuracy of the claim that productivity on Anglo’s coal-mines in South... 

Anglo striving to end SA coal productivity lag, eyeing 40% iron-ore HQ cut
Photo by Duane Daws
Mark Cutifani

Tenders being prepared for new terminals across SA ports system 

By: Terence Creamer Besides tenders for cruise terminals at the Cape Town and Durban harbours, Transnet National Ports Authority (TNPA) plans to release a series of request for proposals (RFPs) in the coming months for terminal prospects at a number of the country’s commercial ports. As landlord and ports master... 

Tenders being prepared for new terminals across SA ports system

Ferrum appoints manager for Moonlight BFS

By: Natasha Odendaal A new drilling programme at the Moonlight iron-ore project, in Limpopo, has kicked off after triple-listed Ferrum Crescent appointed Ed Aylmer bankable feasibility study (BFS) manager. The appointment of a BFS manager marked the next stage of the study of the project, which had been advanced... 

China's Nov iron-ore imports hit second lowest this year

By: Reuters Chinese iron-ore imports tumbled to their second-lowest this year, data showed on Monday, as steel mills and traders in the world's top consumer held back on restocking amid expectations of further price falls. Shipments to China slid 15.1% to 67.4-million tonnes in November from the previous... 

Vale may seek to settle Rio Tinto lawsuit over Guinea iron-ore

By: Reuters Rio Tinto declined to comment on Monday on whether it would be willing to settle a lawsuit it brought against Brazil's Vale SA over valuable iron-ore concessions in Guinea. Vale's general counsel said last Friday the company may consider seeking a settlement with Rio Tinto, depending on a... 

Shaw River produces manganese DSO in Namibia

By: Esmarie Swanepoel Junior producer Shaw River Manganese has produced and transported its first manganese direct shipping ore (DSO) product from its Otjozondu project, in Namibia. The DSO was being transported by truck in shipping containers to the Okahandja rial, from where it would be railed to the Walvis Bay... 

Increases in iron-ore supply creating risk for market fundamentals

A growing oversupply in the iron-ore market is damaging the credit quality of producers and poses risks to the downside, says credit ratings, research, and risk analysis provider Moody's Investors Service in the sector comment ‘Iron-Ore Supply Increases Pose Risk to Market Fundamentals’. Owing to... 

Vale says may close Corumba mine system in Western Brazil

By: Reuters Brazil's Vale is considering the closure of its two-million-tonne-per-year iron-ore Corumba system in Western Brazil as the price of the steelmaking ingredient lingers at five-year lows, its head of iron-ore said on Friday. "There's always a doubt on Corumba which is our small system in the west... 

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