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Vale taps Barclays to advise on Australian asset sale – sources

By: Reuters Brazil's Vale has chosen Barclays to advise it on the sale of some or all of its Australian coal assets, two people close to the situation said on Monday, as the company looks to raise money to ride out the commodities rout. 

Weak commodity outlook puts revenue diversification at top of Gama’s Transnet agenda

By: Terence Creamer Acting Transnet CEO Siyabonga Gama, who was appointed to the position following the surprise secondment of Brian Molefe to Eskom, has placed revenue diversification at the top of his list of immediate priorities, with the weak commodity outlook seen as having the potential to undermine the... 

 Weak commodity outlook puts revenue diversification at top of Gama’s Transnet agenda
Photo by Duane Daws
Acting Transnet CEO Siyabonga Gama

Indonesian tin smelter slashes output; doubts raised on industry quota

By: Reuters Major Indonesian tin smelter PT Refined Bangka Tin (RBT) said it will slash output in April and May following a slump in prices of the solder material, although a key export group raised doubts about an industry wide effort to curb exports. Privately owned RBT will produce 200 t or less in May... 

Mount Gibson reaffirms sales target, focuses on protecting cash flow

By: Esmarie Swanepoel Iron-ore junior Mount Gibson said on Friday that it would achieve its full-year sales target of between 4.8-million tonnes and 5.2-million tonnes, and reported that cash flows would be protected by further cost-cutting initiatives. “Mount Gibson continued to focus on capital preservation and... 

Mount Peake feasibility study started

Australian resource company TNG earlier this month appointed mining services consultancy Snowden to complete the feasibility study (FS) needed to bring its Mount Peake titanium, vanadium and iron polymetallic project, in Australia, into production. Geotechnical drilling has already started with... 

Anglo American sees solid Q1

By: Megan van Wyngaardt Global miner Anglo American on Thursday reported that its first quarter for the year delivered a solid production performance, in line with expectations. Although its South African iron-ore mines were facing some challenges, compounded by a weak iron-price, the company reported a 71%... 

Anglo American sees solid Q1

Kumba sees production increase, but outlook remains cautious

By: Megan van Wyngaardt JSE-listed Kumba Iron Ore’s production for the first quarter ended March increased 7%, to 12.2-million tons, on the 2014 comparative period, declining 2% quarter-on-quarter. The company highlighted that its total export sales volumes increased by 22% year-on-year, but also fell 2% compared with... 

Kumba sees production increase, but outlook remains cautious

Fortescue relaunches bond offering

By: Esmarie Swanepoel Iron-ore miner Fortescue Metals has moved to capitalise on a slight rebound in the iron-ore price, launching a $1.5-billion senior secured note offering to finance the redeeming of notes due in 2017 and 2018. The launch of the high yield bond offering comes just a month after the miner scrapped... 

Vale reports record Q1 iron-ore output despite price rout

By: Henry Lazenby Brazil-based global miner Vale has reported record first-quarter iron-ore output despite a global supply glut that wis being compounded by waning demand from China, the world’s top importer of the steelmaking ingredient. For the three months ended March 31, total iron-ore output, excluding... 

Vale reports record Q1 iron-ore output despite price rout

China's Q1 iron ore imports from Australia up 22.2% on year

By: Reuters China's iron-ore imports from Australia rose 22.2% to 144.4-million tonnes in the first quarter from a year earlier, customs data showed on Wednesday, as major producers ramped up production and increase shipments. Top miners Rio Tinto and BHP Billiton have boosted output, focusing on slashing... 

Black-owned Merafe reports upped ferrochrome output from venture with Glencore

By: Martin Creamer The black-owned and black-managed ferrochrome company Merafe said on Wednesday that its chrome venture with Glencore had lifted production by 15% in the three months to March 31. The company, headed by CEO Zanele Matlala, saw its share price rise by 1.32% to 77c a share in early morning trades. 

Black-owned Merafe reports upped ferrochrome output from venture with Glencore
Photo by Duane Daws
Zanele Matlala

Canada’s mining industry welcomes federal budget 

By: Henry Lazenby Canada's national mining association has welcomed the Conservative government’s balanced federal budget 2015, citing its pleasure with renewed funding for critical areas such as environmental assessments, the Major Projects Management Office, Aboriginal education and training, and geoscience.... 

Canada’s mining industry welcomes federal budget
Photo by Reuters
Canada's Finance Minister Joe Oliver on Tuesday tabled a C$990.3-billion balanced budget.

Tawana a step closer to scoping report, ESIA submission

By: Natasha Odendaal ASX- and JSE-listed Tawana Resources expects to submit the scoping report and environmental- and social-impact assessment (ESIA) terms of reference document for its Mofe Creek iron-ore project to the Liberian Environmental Protection Agency by the end of May. This followed the conclusion of the... 

Centaurus mulls diversification and divestment options in Brazil

By: Esmarie Swanepoel Australia-based developer Centaurus on Tuesday announced that it would explore opportunities to diversify its asset base in Brazil, while also hunting for joint venture partners or outright buyers for its Candonga direct shipping ore (DSO) or Jambreiro iron-ore projects. The ASX-listed company... 

Marampa production ceased - Cape Lambert

By: Esmarie Swanepoel Production at the Marampa iron-ore mine, in Sierra Leone, has been ceased, ASX-listed Cape Lambert Resources reported on Tuesday. The company, which is due royalty payments from the operation, has told shareholders that reports of sabotage at the mine have emerged; however, these were yet to be... 

Shandong acquires Tonkolili iron-ore mine from African Minerals

By: Reuters Chinese steel company Shandong Iron and Steel Group said it had acquired the remaining 75% stake in the Tonkolili iron-ore mine in Sierra Leone from the mining company African Minerals for over $170-million. Shandong now has 100% of equity in Tonkolili, and will also own the associated... 

New dust buster initiative sounds potential death knell for silicosis scourge

By: Martin Creamer A spectacular new dust control system announced at a Chamber of Mines (CoM) of South Africa conference on Monday is described as the closest the industry has come to a silver bullet to put an end to the curse of silicosis and other lung diseases that have plagued the South African mining industry... 

New dust buster initiative sounds potential death knell for silicosis scourge
Photo by Duane Daws
Terence Goodlace

Arrium costs outstrip iron-ore prices

By: Esmarie Swanepoel Higher costs during the quarter ended March has resulted in ASX-listed Arrium Mining selling its iron-ore product at a loss. The miner reported on Monday that average costs loaded on ship reached A$48.2/t during the quarter, up by A$2.50/t from the previous quarter. The increase in costs was... 

Grange ups pellet production in March quarter

By: Esmarie Swanepoel Pellet producer Grange Resources has reported record production during the quarter ended March, despite the significant decline in iron-ore prices. The miner on Monday reported that production during the three months to March reached 645 287 t, compared with the 595 429 t of pellets produced in... 

Creamer Media publishes African Mining Projects in Progress 2015 report

Creamer Media’s African Mining Projects in Progress 2015 report tracks developments taking place in Africa’s mining sector and across various mining sectors on the continent, including coal, copper, gold, iron-ore, platinum and uranium. 

Creamer Media publishes African Mining Projects in Progress 2015 report

IMIC concludes bond restructuring to increase cash flexibility

By: Megan van Wyngaardt Aim-listed International Mining & Infrastructure Corporation (IMIC) has concluded a bond restructuring process at a cost of about $100 000, which IMIC chairperson Ethelbert Cooper said on Friday increased its cash flexibility over the next few years. The restructuring, which reflected a rate of... 

South32 spin-off from BHP turns bearish

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about the planned spin-off of South32 from BHP Billiton turning bearish, with an unprecedented number of ‘sell’ recommendations by analysts. 

South32 spin-off from BHP turns bearish

Walsh says Rio Tinto to continue with low-cost iron-ore expansions

By: Esmarie Swanepoel Diversified giant Rio Tinto has told shareholders that the group will continue to push on with its iron-ore expansion in the Pilbara, despite the declining iron-ore price. CEO Sam Walsh said in London this week that the company would continue with a low-capital brownfield expansion as part of... 

Walsh says Rio Tinto to continue with low-cost iron-ore expansions
Photo by Bloomberg
Rio Tinto CEO Sam Walsh

Moody’s lowers iron-ore and met coal price forecasts, markets to remain under pressure to 2016

By: Henry Lazenby Moody’s Investors Service expected iron-ore and metallurgical (met) coal prices to remain under pressure through at least 2016, prompting it to lower its price expectations for both commodities. The firm fingered slower steel output growth in China and rampant oversupply, particularly in... 

Moody’s lowers iron-ore and met coal price forecasts, markets to remain under pressure to 2016

Apart from Big 3, iron ore miners face 'existential' threat -Goldman

By: Reuters Up to half of iron-ore output by miners outside the three mega producers in Australia and Brazil is at risk of closure with global demand set to peak at about 1.4-billion tonnes next year, Goldman Sachs said. Production volumes among top miners - Vale, Rio Tinto and BHP Billiton - was not at... 

Fortescue forecasts big drop in C1 cash costs

By: Esmarie Swanepoel A 9% reduction in C1 cash costs for the March quarter, compared with the previous quarter, has allowed iron-ore major Fortescue Metals to significantly lower its full-year cost guidance for the next financial year. During the quarter under review, Fortescue achieved a C1 cost of $25.90/t,... 

Fortescue forecasts big drop in C1 cash costs

Solidarity vows to protect members amid Evraz business rescue

By: Natalie Greve Trade union Solidarity said on Wednesday that it would protect the interests of its members at Evraz Highveld Steel and Vanadium, in eMalahleni, after the company announced on Tuesday that it had entered into business rescue proceedings. Solidarity, which represented 350 of the company’s 2 400... 

Solidarity vows to protect members amid Evraz business rescue

Commission recommends approval of Assore, DCM deal

By: Natalie Greve The Competition Commission has recommended to the Competition Tribunal that it approve, without conditions, a transaction that would see mining holding group Assore acquiring African Rainbow Minerals’ 50% stake in the Dwarsrivier chrome mine (DCM), in Mpumalanga. Post-merger, Assore would have... 

Australia's Fortescue under pressure as iron-ore crashes 

By: Reuters Australia's Fortescue Metals Group has two stark choices to deal with a crash in the iron-ore market and cut its $9-billion debt pile - sell off stakes in its mines or transport infrastructure, or sell new shares. Investors say the quickest capital-raising option for the world's No. 4 iron-ore... 

Brazil's Vale approves $1bn dividend payment

By: Reuters Brazilian miner Vale said on Tuesday it approved payment of a dividend instalment of 3.1-billion reais ($1.01-billion), easing investor concerns that it might slash the payment in the face of falling iron-ore prices. Vale and other major miners were put on credit watch negative by Standard &... 

Mofe Creek MDA months away from finalisation

By: Natasha Odendaal The agreement set to formalise the legal and commercial conditions of the Mofe Creek project for the next 25 years was months away from finalisation, TSX- and JSE-listed Tawana Resources said on Tuesday. The iron-ore miner this week presented its Mineral Development Agreement (MDA) to the... 

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