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Ferrous Metals News

Brazil's Vale says US court annuls most of class action over dam disaster

By: Reuters     25th March 2017 Brazilian miner Vale said on Friday the US District Court for the Southern District of New York annulled the majority of a class action lawsuit against the company and executives over the collapse of a tailings dam in Brazil in 2015. The only parts of the case that remain ongoing are linked to... 

Goodlace joins Kumba board

By: Natasha Odendaal     24th March 2017 Former Impala Platinum CEO Terence Goodlace has joined the board of JSE-listed Kumba Iron Ore as independent nonexecutive director with immediate effect. Goodlace also previously held the post of Metorex CEO and Gold Fields COO and executive VP and head of the international operations. Currently,... 

Australian group lines up China backing for new iron-ore rail, port infrastructure

By: Reuters     24th March 2017 China State Construction Engineering Corp has tentatively agreed to build a new port and rail line for a yet-to-be-approved iron-ore mine in Western Australia, according to a memorandum of understanding (MoU) with privately-owned New Zealand firm BBI Group. The MoU, tied to a A$6-billion... 

Fortescue pays down more debt

By: Esmarie Swanepoel     24th March 2017 Iron-ore major Fortescue Metals has announced a $1-billion repayment of its 2019 term loan. CEO Nev Power on Friday said the $1-billion payment continues the company’s debt reductions strategy, lowering Fortescue’s all-in cost position and reducing the 2019 debt to less that $1-billion. 

Proponents see glistening future in seabed mining, but environmentalists fret

By: Megan van Wyngaardt     24th March 2017 With the current known mineral deposits on land increasingly being depleted globally, necessitating greater exploration, interest in the prevalence of deep-sea minerals is growing as mining companies look for future sources to exploit. “The ocean is where future resources exist,” India Council of... 

Proponents see glistening future in seabed mining,  but environmentalists fret

EIUG supports Eskom plan for new pricing deals with power-intensive firms 

By: Terence Creamer     22nd March 2017 The Energy Intensive User Group of Southern Africa (EIUG) believes there is policy, legislative and regulatory space to introduce new electricity pricing arrangements to help restart of idle mining and process-industry activities, as well as encourage new investments to absorb Eskom’s surplus,... 

EIUG supports Eskom plan for new pricing deals with power-intensive firms

Anglo says South Africa reorganisation adds sale flexibility

By: Bloomberg     22nd March 2017 Anglo American said its decision to split some South African assets into a different subsidiary gives it the “flexibility” to dispose of its iron ore and export thermal coal assets should it decide to do so. The split, which was partly announced in February without reasons being given, means that... 

Australia's Pilbara Ports closes Dampier due to weather

By: Reuters     22nd March 2017 Pilbara Ports Authority, which operates Australia's largest iron ore export terminal, on Wednesday said it had closed its Dampier port due to bad weather, but the main port of Hedland remained open. The authority said it had activated a cyclone response procedure due to a weak tropical low... 

Savage River contractor killed in 'serious safety incident'

By: Esmarie Swanepoel     20th March 2017 Magnetite miner Grange Resources has suspended share trading following a fatality at its Savage River mine, in Tasmania. The miner on Monday said a specialist contractor had been involved in a "serious safety incident" at the Savage River mine’s North pit on Friday, with reports stating that the... 

Anglo's billionaire investor puts mining on cusp of M&A era

By: Bloomberg     17th March 2017 Anil Agarwal’s surprise move into Anglo American suggests the mining industry may be on the cusp of a new wave of deals. For years, Anglo has been the subject of takeover speculation and during the worst of the commodities crisis it seemed on the verge of a breakup. It spent last year getting... 

Anglo's billionaire investor puts mining on cusp of M&A era
Photo by Bloomberg
Anil Agarwal

Brazil court suspends lawsuit over Samarco mine disaster – Vale

By: Reuters     17th March 2017 Brazilian iron ore miner Vale SA said on Thursday that a federal court in Minas Gerais has suspended a case brought by prosecutors seeking 155-billion reais ($49.7-billion) in damages for the 2015 Samarco mine disaster. Vale said in a securities filing the court suspended other lawsuits to... 

Vale says Brazil court suspends Samarco damages lawsuit to help deal

By: Reuters     17th March 2017 Brazilian iron-ore miner Vale said on Thursday that a federal court in Minas Gerais has suspended a case brought by prosecutors seeking 155-billion reais ($49.7-billion) in damages for the 2015 Samarco mine disaster. Vale said in a securities filing the court suspended other lawsuits to... 

thyssenkrupp Industrial Solutions

By: Creamer Media Reporter      17th March 2017 Industrial plants and systems engineering, construction and service specialist thyssenkrupp Industrial Solutions (tkIS) is one of five business areas of global engineering company thyssenkrupp. tkIS has a global network of roughly 19 000 employees at 70 locations, enabling the company to supply... 

thyssenkrupp Industrial Solutions

Take community engagement seriously, ARM’s Motsepe advises 

By: Martin Creamer     16th March 2017 The South African mining industry must take community engagement extremely seriously to prevent this country’s global competitiveness from being negatively impacted, African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe urged on Thursday. Speaking at question time after ARM... 

Take community engagement seriously, ARM’s Motsepe advises
Mining Weekly Online’s Martin Creamer on African Rainbow Minerals executive chairperson Patrice Motsepe’s presentation of interim results. Video and Video Editing: Nicholas Boyd.

Champion Iron acquires 735 iron-ore railcars

By: Henry Lazenby     15th March 2017 Iron-ore project proponent Champion Iron Ore has acquired an operational fleet of 735 specialised iron-ore railcars from Canadian Iron Ore Railcar Leasing, for $30.1-million. Champion chairperson and CEO Michael O’Keeffe on Wednesday said the acquisition brought the TSX- and ASX-listed company a... 

High Q1 ferrochrome price settled at lower Q2 level – Merafe

By: Martin Creamer     15th March 2017 The European benchmark ferrochrome price has been settled at US$1.54/lb for the second quarter (Q2) of 2017, a decrease of 6.7% on the high-flying US$165/lb first quarter (Q1) price, Merafe Resources announced on Wednesday. The settled Q2 price is well up on the average 2016 European benchmark... 

High Q1 ferrochrome price settled at lower Q2 level – Merafe
Photo by Duane Daws
Merafe Resources CEO Zanele Matlala

Assmang officially opens Sakura smelter in Malaysia

By: Anine Kilian     15th March 2017 Assmang’s Sakura ferroalloys smelter, in Sarawak, Malaysia, was officially opened on Wednesday.   Sakura is a low-cost ferromanganese producer and has successfully commissioned two 81 MVA furnaces, within the approved budget of $328-million.  Both furnaces, currently producing high-carbon... 

Indian DRI plants face iron-ore shortage

By: Ajoy K Das     15th March 2017 Indian sponge iron, or direct reduced iron (DRI), manufacturers are facing an acute shortage of iron-ore despite the government liberalising norms for the allocation of iron-ore blocks and with the country poised to achieve a five-year high in the production of the raw material. The shortage of... 

Coal drags but mining production still on the up

By: News24Wire      14th March 2017 Mining production was up 1.3% for January 2017, compared to levels a year ago, according to data from Statistics South Africa (Stats SA). Stats SA released the mining and sales data for January 2017 on Tuesday. Mining production was up 1.7% from December 2016, an uptick from a downward trend... 

Sula raises cash for Ferensola gold project

By: Anine Kilian     14th March 2017 Aim-listed Sula Iron & Gold has conditionally raised £500 000 through a placing by investment bank VSA Capital and Africa-focused miner Madini Minerals for 129-million new ordinary shares at an issue price of 0.40p a share. The issue price represents a discount of 13%. 

Chrome ore price improvement delivers good results for Bauba

By: Megan van Wyngaardt     13th March 2017 Embattled junior miner Bauba Platinum has had a strong start to the calendar year since resuming production at its Moeijelijk mine, selling around 20 000 t of free-on-truck (FoT) chrome, for R79-million in the first two months. In its results for the six months to December 31, the company noted... 

Top iron miners' cash juggernaut set to survive price crash

By: Bloomberg     13th March 2017 The world’s biggest iron ore miners will be able to withstand the expected plunge in prices because their race to cut production costs has dramatically lowered the industry’s margin pressure point, allowing them to keep fueling a cash juggernaut that’s revived the mining sector. More than 90% of... 

Samarco mine restart threatened by request to protect forest

By: Bloomberg     13th March 2017 The Samarco iron-ore mine in Brazil is facing one more obstacle to restarting operations later this year after a court accepted a request by prosecutors to protect a forested area that encompasses a pit the venture had planned to use for storing waste. The BHP Billiton-Vale joint venture had... 

South Australian magnetite consortium finds possible offtake partner

By: Esmarie Swanepoel     13th March 2017 ASX-listed Magnetite Mines has announced the signing of a sale and purchase letter of intent (LOI) between the South Australian Magnetite Consortium and a non-Chinese steelmaker for the purchase of one-million tonnes a year of iron-ore concentrate for pelletising purposes. The South Australian... 

ANC says law-making powers trump courts in South Africa mine ownership fight 

By: Bloomberg     10th March 2017 South Africa’s ruling party said mining companies should seek agreement with the government over ownership rules rather than challenging them in court because even if they win a legal battle, legislation can still be changed to further the aim of spreading wealth to the nation’s black majority.... 

ANC says law-making powers trump courts in South Africa mine ownership fight
Photo by Duane Daws
ANC economic policy head Enoch Godongwana

China iron ore eyes worst week in nearly 3 months as port stocks climb

By: Reuters     10th March 2017 Iron-ore futures in China were little changed on Friday, but were headed for their biggest weekly drop since December as the rally in steel prices lost steam and stockpiles of iron ore at Chinese ports rose to the most in at least 13 years. Iron-ore prices have rallied with steel this year... 

Proposed curb on free pricing of iron-ore may trigger face-off with India's miners

By: Ajoy K Das     10th March 2017 The Indian government has started working on measures to curb free pricing in the iron-ore sector, triggering fears of another face-off with miners. The government, as per statements emanating from the Steel and Mines Ministries, has taken a policy stance that iron-ore should be made available to... 

Certification grows company’s sales, ups market share

By: Victor Moolman     10th March 2017 Valve and steel supplier Stewarts & Lloyds South Africa (S&L SA) has grown its market share in South Africa after receiving South African National Standards (SANS) certification for its RSV gate valves, reporting a 40% increase in SANS-approved valve sales since receiving certification last year. 

Certification grows  company’s sales,  ups market share
SERVICE DELIVERY Stewarts & Lloyds attributes its strategically located branch network to always being able to ensure minimal downtime for customers

BofAML warns of rising headwinds for commodities

By: Henry Lazenby     9th March 2017 Bank of America Merrill Lynch (BofAML) cast a pall on the budding optimism seen at the recent Prospectors and Developers Association of Canada’s yearly convention, in Toronto, saying that the commodity market, in general, is transitioning from tailwinds to headwinds this year. In its ‘Global... 

African mining delegation closes TSX

By: Henry Lazenby     9th March 2017 An African mining delegation, comprising government officials and mining companies, rang the closing afternoon bell of the TSX on Wednesday afternoon during the yearly Prospectors and Developers Association of Canada international convention. The delegations joined TMX Group global equity markets... 

African mining delegation closes TSX

Delayed legislation stopping mining from firing on all cylinders – Exxaro 

By: Martin Creamer     9th March 2017 South Africa’s economic growth remains inadequate to drive the changes required for the country’s socioeconomic challenges and the continued delay in the promulgation of key minerals legislation is deterring the investment required to make South Africa’s mining industry fire on all cylinders,... 

Delayed legislation stopping mining from firing on all cylinders – Exxaro
Mining Weekly Online’s Martin Creamer reports on Exxaro CEO Mxolisi Mgojo’s presentation of financial results. Video and Video Editing: Darlene Creamer 9.03.2017

Coal-boosted Exxaro’s earnings soar

By: Martin Creamer     9th March 2017 Diversified mining company Exxaro delivered a strong performance in the 12 months to December 31, with its higher net operating profit boosted by higher coal selling prices. The headline earnings of the JSE-listed company, headed by CEO Mzolisi Mgojo, were 185% higher at R4 621-million. 

Coal-boosted Exxaro’s earnings soar
Photo by Duane Daws
Exxaro CEO Mxolisi Mgojo

Anticipated drop in iron-ore price prompts further warnings of consequences of WA tax

By: Esmarie Swanepoel     8th March 2017 Iron-ore prices could fall by as much as 30% or more, analysts Gavekal and HSBC have warned, prompting the Western Australian Chamber of Minerals and Energy (CME) to again warn about the consequences of implementing further taxes on iron-ore. CME CEO Reg Howard-Smith said this week that the... 

Merafe hits high spots with record results

By: Martin Creamer     7th March 2017 Ferrochrome company Merafe Resources on Tuesday reported record production, record revenue and a major jump in headline earnings in the 12 months to December 31. Production hit the 393 000 t mark, revenue lifted to R5.7-billion, headline earnings a share soared 53% to 21.2c, safety improved and... 

Merafe hits high spots with record results
Photo by Duane Daws
Merafe CEO Zanele Matlala

Mines Ministry warns of looming India iron-ore supply crisis

By: Ajoy K Das     7th March 2017 India’s Mines Ministry has warned iron-ore bearing provinces of a looming "crisis" by 2020, if they do not focus on the "efficient handling of mining leases" in their respective geographies. In an advisory to key provinces rich in iron-ore resources like Odisha, Karnataka and Chhattisgarh, the... 

‘What a difference a year makes’ – analysts outline mostly strong commodity fundamentals despite uncertainty

By: Henry Lazenby     7th March 2017 “What a difference a year makes,” John Butcher, principal economist at commodity consultancy Wood Mackenzie exclaimed during a technical programme at the Prospectors and Developers Association of Canada’s yearly convention this week. While global economic growth came in at a disappointing 2.3% in... 

Stakeholder engagement key to African development success

By: Henry Lazenby     7th March 2017 Capital for development ebbs and flows with global economic cycles, pushing to the fore the need for long-term regulatory security when it comes to multinational miners developing projects in Africa, said Ashanti Gold CEO and director Tim McCutcheon during a panel discussion on Africa’s mining... 

Stakeholder engagement key to African development success

New duties on steel products indicative of South Africa’s ‘value-chain’ approach to protection 

By: Terence Creamer     6th March 2017 The International Trade Administration Commission of South Africa (Itac) confirms that it has recommended increased protection on several downstream steel products and that it is also considering recommending duties on a range of other value-added steel products in future. In addition, the... 

New duties on steel products indicative of South Africa’s ‘value-chain’ approach to protection
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