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Ferrous Metals
 
IRON-ORE

Fortescue profit surges 56% to $2.73bn

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Iron-ore major Fortescue Metals has reported a 56% increase in profit for the year ended June, as revenue surged on the back of increased production. Fortescue reported a record net profit of $2.73-billion, up from the $1.7-billion reported in...
20th August 2014
 
 
CREDITOR PROTECTION

Brazil miner MMX says not filing for bankruptcy, denies report

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Eike Batista's iron-ore miner MMX Mineracao e Metalicos SA said on Tuesday it is not considering filing for bankruptcy, denying a local media report published late on Monday. "MMX clarifies that there are no deliberations in process on this...
19th August 2014
 
 
DIVERSIFIED MINERS

South Africa gets 200-job sweetener as BHP Billiton spins out Newco

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Newco CEO-designate Graham Kerr The world’s largest diversified mining company has created sweeteners for South Africa as it demerges and sets out to create a new global metals company that will have a third of its value made up of Southern African aluminium, manganese and...
19th August 2014
 
 
Ferrous Metals

Venture throws in the towel at Riley after ongoing appeals

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ASX-listed junior Venture Minerals on Tuesday announced its plans to suspend operations at its Riley direct shipping ore (DSO) project, in Tasmania, citing the weak iron-ore prices and the ongoing appeals against the project. The Federal Court...
19th August 2014
 
 
IRON-ORE

African Minerals names new CEO, gets $248m cash injection

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Sierra Leone-focused iron ore miner African Minerals has named a new chief executive and obtained access to $248-million in cash through an agreement with Chinese partner Shandong Iron and Steel Group (Shandong). Access to the funding will give...
18th August 2014
 
 
PEOPLE

Cliffs to pay former CEO Halverston $11m

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US iron-ore and coal producer Cliffs Natural Resources on Friday reported that it expected to make a payment of $11-million to its former CEO Gary Halverson in connection with the termination of his employment. Halverson was ousted as Cliffs CEO...
15th August 2014
 
 
DIVERSIFIED MINERS

Major South African assets fail to make cut in BHP Billiton portfolio remake

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BHP Billiton CEO Andrew Mackenzie Major South African asset classes have failed to make the cut in BHP Billiton’s latest portfolio remake announcement. Aluminium and manganese have been excluded by implication in BHP Billison's selection of iron-ore, copper, coal – with coking...
15th August 2014
 
 
IRON-ORE

Zanaga iron-ore granted mining licence

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The Zanaga iron-ore project, in the Republic of Congo (RoC), a joint venture (JV) between Aim-listed Zanaga Iron Ore Company (ZIOC) and diversified miner Glencore, has been granted a mining licence and its operators have entered into a mining...
15th August 2014
 
 
 
 
 
 
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London Mining expects iron-ore prices... Audio
Geovic confident on Cameroon cobalt... Audio
Lower-cost, higher-capacity SA... Audio
Ontario fast-tracks mining law revamp... Audio
Cleveland-Cliffs to buy coal-miner... Audio
Kalagadi manganese project faces... Audio
Investment in South African mining... Audio