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Ferrous Metals News

Cliffs to break ground on first hot-briquetted iron plant Thursday

By: Henry Lazenby     3rd April 2018 US iron-ore company Cleveland-Cliffs of Ohio expects to break ground on its first hot-briquetted iron (HBI) plant in Toledo on Thursday. The $700-million plant signals a strategic step change for the company, whose HBI product is expected to supply the growing electric arc furnace (EAF) steel... 

Port, railway workers reject Canada miner IOC's latest offer

By: Reuters     30th March 2018 A majority of 98% of workers at the Iron Ore Company of Canada's railway and port operations in Sept Iles, Quebec have rejected the miner's latest contract offer, the United Steelworkers said on Thursday, after negotiations stumbled on monetary issues. The 305 unionised employees are unhappy... 

Brazilian miner Vale to discuss new dividend policy - Valor

By: Reuters     28th March 2018 Board members of Brazilian miner Vale will discuss in a meeting on Thursday a new dividend policy, according to a Wednesday report by newspaper Valor Econômico. Under the new policy, Vale would calculate dividend payouts based on its earnings before interest, tax, depreciation and amortisation,... 

Canada to target smuggling of steel intended to dodge US tariffs

By: Reuters     28th March 2018 Canada will act to prevent the smuggling of cheap steel and aluminum into the North American market to avoid new US tariffs on the metals, Prime Minister Justin Trudeau said on Tuesday. Trudeau said this month he was aware of concerns that countries facing the tariffs could try to ship supplies... 

Champion to send off first shipment of up to 200 000 t high-grade iron-ore

By: Henry Lazenby     27th March 2018 Canadian miner Champion Iron Ore announced on Tuesday that preparations for the first shipment of high-grade iron-ore from subsidiary Quebec Iron Ore’s (QIO’s) Bloom Lake mine, in Quebec, are under way, following the arrival of the MV Magnus Oldendorff at the Port of Sept-Îles. The Montreal,... 

Merafe FD resigns

By: Creamer Media Reporter      27th March 2018 Kajal Bissessor has resigned as FD of JSE-listed Merafe Resources. She joined the company nine years ago and has played a significant role in both the finance and investor relations functions, the company said on Tuesday. 

Fortescue cuts iron-ore price expectation for FY

By: Esmarie Swanepoel     27th March 2018 Iron-ore major Fortescue Metals has cut its price expectations as Chinese construction activities are subdued and temporary steel production restrictions remain in place. The company on Tuesday amended its iron-ore price guidance to about 65% of the average benchmark Platts 62 CR index price,... 

Indian iron-ore production and imports to rise in current FY

By: Ajoy K Das     26th March 2018 Indian iron-ore production during the current financial year is expected to have grown over the previous year, and imports too are showing tentative signs of a rise. According to preliminary government data, total iron-ore production is expected to be 210-million tons at the end of March, growth... 

Rio sees $5bn copper expansion on track amid Swiss probe

By: Bloomberg     26th March 2018 Rio Tinto Group has yet to be contacted by Swiss authorities over a bribery investigation related to Mongolia’s giant Oyu Tolgoi copper and gold mine and the site’s $5.3-billion expansion remains on track, according to the producer’s top executive. The attorney general of Switzerland is... 

Rio sees $5bn copper expansion on track amid Swiss probe
Rio Tinto CEO Jean-Sebastien Jacques

Rio Tinto sees iron-ore market staying balanced through 2019 – exec

By: Reuters     23rd March 2018 Rio Tinto expects the global iron ore market to stay balanced through 2019 despite a likely moderation in steel demand growth in China, the world's biggest steel consumer, a senior executive said on Friday. "I think the iron-ore market is pretty well balanced...We don't see remarkable change in... 

Trump temporarily excludes EU, six other allies from steel tariffs

By: Reuters     23rd March 2018 US President Donald Trump has temporarily excluded six countries, including Canada and Mexico, and European Union states from higher US import duties on steel and aluminum meant to come into effect on Friday. In a Presidential proclamation published late on Thursday, Trump said he would suspend... 

Transnet renews manganese contract with South32

By: Marleny Arnoldi     22nd March 2018 State-owned Transnet and diversified miner South32 on Thursday signed a seven-and-a-half-year manganese export capacity allocation (Meca) contract, allowing for the transportation of 2.6-million tonnes a year of export manganese and realising almost R10.4-billion in total value for Transnet.  

Transnet renews manganese contract with South32
South32 South African manganese operations VP Lucas Msimanga, South32 commercial operations VP Kgabi Masia and Transnet new business chief officer Gert de Beer

BHP sees limited impact on steel market from US new tariffs

By: Reuters     22nd March 2018 Global miner BHP anticipates planned new US steel import tariffs will have a limited impact on both the steel market and the firm, and doesn't foresee a chain reaction from other countries, a senior official said on Thursday. "I think direct impact on steel is quite marginal because the United... 

Ferrexpo hikes dividend, sees better demand this year

By: Reuters     22nd March 2018 Iron-ore pellet producer Ferrexpo announced a record dividend on Wednesday as earnings jumped on stronger demand from the steel industry. The London-listed firm, the third largest exporter of pellets, said 2017 underlying earnings before interest, tax, depreciation and amortisation (EBITDA)... 

Ferrexpo hikes dividend, sees better demand this year

Deloitte launches Intelligent Mining Solution to encourage digital transformation

By: Nadine James     22nd March 2018 Advisory firm Deloitte has launched an Intelligent Mining Solution that illustrates how digital transformation in mining can address legacy industry challenges, improve safety and enable the required step change in performance. Deloitte collaborated with several technology business partners to... 

Cheaper iron-ore finding plenty of buyers in China, miner says

By: Bloomberg     22nd March 2018 Low-grade iron-ore that has fallen out of favour with many of China’s steelmakers is still in demand as mills keep buying the cheaper product, according to a junior Australian supplier. BCI Minerals is selling all it’s lower-grade product at normal rates, CEO Alwyn Vorster said Thursday in an... 

Vital flags cost savings at Watershed

By: Esmarie Swanepoel     22nd March 2018 An independent review into the Watershed tungsten project, in far north Queensland, has reduced the expected capital costs from A$172-million to A$105.8-million, ASX-listed Vital Metals reported on Thursday. The review considered proposed modifications to the plant design, layout, site access,... 

Goa iron-ore mine closure triggers protests and violence

By: Ajoy K Das     22nd March 2018 The closure of iron-ore mines in Goa has triggered violence and widespread law and order problems at the start of the week as miners, families and workers from allied industries unleashed protests forcing the police to baton charge the crowd resulting in injuries and arrest of 11 protesters.... 

South Flank could support greater demand from Asia

By: Esmarie Swanepoel     21st March 2018 The approval of the proposed South Flank mine, in Western Australia, could supply Asia’s growing demand for higher quality iron-ore, mining major BHP’s iron-ore asset president, Edgar Basto said. Addressing the Global Iron Ore & Steel Forecast conference, in Perth, Basto noted that the ongoing... 

South Flank could support greater demand from Asia

China iron-ore, steel extends losses as lofty China inventories weigh

By: Reuters     20th March 2018 Chinese iron-ore prices fell further on Tuesday, a day after posting their biggest daily drop in almost ten months as high inventories and a weak domestic steel market pressure prices. Near-term inventory risks have dampened the outlook for steel and iron-ore prices short term, Argonaut said in a... 

ARM's Motsepe predicts successful charter, land outcomes 

By: Martin Creamer     16th March 2018 The executive chairperson of diversified black-controlled mining company African Rainbow Minerals (ARM), Patrice Motsepe, on Friday expressed the firm conviction that South Africa was in the process of reinforcing its position as a competitive mining destination through a positive Mining Charter... 

ARM's Motsepe predicts successful charter, land outcomes
African Rainbow Minerals executive chairperson Patrice Motsepe at presentation of 15% higher half-year earnings covered by Mining Weekly Online’s Martin Creamer. Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer.

African Rainbow Minerals ups earnings, declares dividend

By: Martin Creamer     16th March 2018 Diversified black-led mining company African Rainbow Minerals (ARM) on Friday announced a 15% increase in headline earnings for the six months to December 31 to R1 945 million. This increase was mainly as a result of improved headline earnings from the manganese division, ARM Coal, Modikwa... 

Gaps in measures against mineral resource misreporting

By: Nadine James     16th March 2018 Addressing delegates at a seminar at SRK’s Johannesburg office last month, corporate consultant and SRK Australia chairman Mark Noppe advised that there are still surprisingly large gaps in the assurance systems that companies use to protect against inaccuracy of reporting mineral resources and... 

Angolan railway and port restarts exporting minerals after 30 years of disruption

By: Rebecca Campbell     16th March 2018 The export of minerals from the interior of south central Africa through the port of Lobito in Angola, by means of the Benguela Railway (Caminho de Ferro de Benguela – CFB) restarted during the first week of this month. This marked the resumption of a service that was disrupted more than 30 years... 

South Africa discount no longer warranted, say analysts

By: Martin Creamer     15th March 2018 The so-called 'South Africa discount' that has dogged and diminished the share prices of mining companies operating in South Africa for decades, has been declared "unwarranted" by Goldman Sachs Europe Metals & Mining Equity Research analysts, against the backdrop of the winds of political change... 

South Africa discount no longer warranted, say analysts
Photo by Goldman Sachs
Share prices of Glencore and Anglo at 2013 levels, despite higher earnings, lower debt

Iron-ore mines in Goa close down

By: Ajoy K Das     15th March 2018 Iron-ore mining in the western Indian coastal province of Goa came to a halt on Thursday in accordance with an order issued by the Supreme Court last month. However, even as miners downed shutters and evacuated equipment from mines, on Wednesday night a Goa government Cabinet Committee... 

Iron-ore mines in Goa close down

China steel hub orders new output cuts in push for blue sky

By: Bloomberg     14th March 2018 China’s top steel-making city is imposing further production cuts beyond the winter heating season as the nation presses ahead with a campaign for cleaner skies that has rattled steel and iron-ore markets. Tangshan City, the country’s steel-producing hub, has ordered a two-tier system of... 

Afarak secures new-order mining right for Vlakpoort mine

By: Natasha Odendaal     14th March 2018 LSE-listed Afarak has secured a new-order mining right for its Vlakpoort mine, in the western limb of South Africa’s Bushveld complex. The preparatory work on the mine, which has a minimum of 6.6-million tonnes of proven chrome reserves and 330 314 oz of platinum group metals, will start during... 

Anglo commits to ambitious sustainability strategy

By: Martin Creamer     14th March 2018 Diversified mining company Anglo American has outlined an innovative approach to three major areas of sustainability - the environment, community development, and driving greater trust and transparency across the mining industry. 

Anglo commits to ambitious sustainability strategy
Photo by Creamer Media
Mark Cutifani

Anglo says cleaning up mining will earn it billions in profit

By: Bloomberg     14th March 2018 Mining is a dirty business, but Anglo American CEO Mark Cutifani says it doesn’t have to be. The miner of everything from copper to diamonds to iron ore is overhauling its sustainability targets, and predicts it can earn an extra $9-billion through 2030 by improving the way it mines and boosting... 

Anglo says cleaning up mining will earn it billions in profit
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Canada's Trudeau tells metal workers: 'We have your backs'

By: Reuters     13th March 2018 Canadian Prime Minister Justin Trudeau promised aluminium and steelworkers on Monday he would defend them against possible US tariffs and called US President Donald Trump to stress that "mutually beneficial" cross-border supply chains should be preserved. Trump said last week he would impose... 

Canada's Trudeau tells metal workers: 'We have your backs'

Coal miner Exxaro declares innovation an imperative 

By: Martin Creamer     12th March 2018 Coal mining company Exxaro Resources, which sees modernisation and innovation as imperatives, will this year announce new partnerships to ensure that it remains sustainably competitive going into the future. The Johannesburg Stock Exchange-listed black-led company, which has already met... 

Coal miner Exxaro declares innovation an imperative
Exxaro Resources CEO Mxolisi Mgojo talks to Mining Weekly Online’s Martin Creamer. Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer.

Atlas adds manganese to shipping mix as part of diversification strategy

By: Esmarie Swanepoel     12th March 2018 Iron-ore miner Atlas Iron has moved to affect its diversification strategy, finalising a manganese export agreement that will see the company export first product through the Utah Point within the next month. Some 100 000 t of manganese will be mined and crushed on a campaign basis by... 

Gulf secures A$15m to fund Kupang smelters

By: Esmarie Swanepoel     12th March 2018 ASX-listed Gulf Manganese has secured A$15-million to fund the construction and commissioning of the first two manganese smelters at its Kupang smelting facility, in Indonesia. Gulf on Monday announced that it would issue a convertible note worth A$6-million, with a zero percent interest to... 

Citic estimates up to $1bn impairment on Australia's Sino Iron project

By: Reuters     12th March 2018 Chinese conglomerate Citic said it would book an impairment of $800-million to $1-billion on the value of its Sino Iron project in Australia for fiscal 2017. "Impairment is a non-cash accounting item, but it will reduce the company's 2017 reported profits," chairman Chang Zhenming said a filing... 

Bauba swings into the black in H1

By: Megan van Wyngaardt     9th March 2018 JSE-listed chrome miner Bauba reported a profit before tax of R46.7-million for the six months ended December 31, against a loss of R6.8-million in the six months to December 31, 2016. Profit attributable to equity holders of the parent was R15.89-million, resulting in diluted headline earnings a... 

BCI appoints drilling contractor for Buckland’s Kumina tenements

By: Megan van Wyngaardt     9th March 2018 JOHANNESBURG (miningweekly.com) – ASX-listed BCI Minerals has contracted Core Drilling Services for an upcoming major drilling programme at its Kumina tenements, a component of the Buckland iron-ore project, in the West Pilbara region. The Kumina tenements comprise 480 km2 and were acquired from... 

Australia hopeful of US tariff exemptions

By: Reuters     9th March 2018 Australian Prime Minister Malcolm Turnbull said on Friday he is hopeful of securing an exemption from U.S. tariffs on steel and aluminium after sustained lobby effort by his government. US President Donald Trump on Thursday imposed a 25% tariff on steel imports and 10% for aluminium on Thursday. 

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