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Ferrous Metals News

Afarak shareholders request meeting to vote on dismissing board

By: Marleny Arnoldi     24th August 2018 LSE-listed specialty alloy producer Afarak Group has received a request from shareholders, holding a collective 11.09% of shares, to convene an extraordinary meeting of shareholders, to discuss the dismissal of the current board and election of new board members that are independent from the... 

Brazil's Usiminas seeks to sell stake in miner Musa –source

By: Reuters     24th August 2018 Brazilian steelmaker Usinas Siderurgicas de Minas Gerais, known as Usiminas, has hired Banco BTG Pactual SA to sell its 70% stake in its mining company, one person with knowledge of the matter said on Thursday. Trading on Usiminas stock was suspended for around 40 minutes by Brazilian stock... 

South32 to consider South African energy coal ownership options in Sept

By: Marleny Arnoldi     23rd August 2018 Diversified miner South32 will start a process to broaden the ownership of its South Africa Energy Coal (SAEC) business, in September. “We have been very clear that we don’t plan to own an interest in energy coal in the long term, and it has never been a better time in terms of where South... 

BCI puts iron-ore assets up for sale

By: Creamer Media Reporter      23rd August 2018 ASX-listed BCI Minerals has formally started a process of selling its iron-ore assets in the Pilbara, with the company’s Iron Valley mine, Kumina and Bungaroo South projects, as well as its proposed Cape Preston East port facility put on the market. The portfolio up for sale represents one of... 

Québec provides financial assistance to C$1.3bn iron/vanadium project

By: Creamer Media Reporter      23rd August 2018 The government of Québec has announced C$185-million in financial assistance to privately-owned BlackRock Metals to support the construction of an openpit mine that will produce iron, vanadium and titanium near Chibougamau, in the Nord-du-Québec region. This financial assistance will also... 

Thor upgrades Molyhil economics

By: Esmarie Swanepoel     23rd August 2018 An upgraded definitive feasibility study (DFS) into the Molyhil tungsten and molybdenum project, in the Northern Territory, has resulted in improved economics, owner Thor Mining said. The updated DFS estimated a capital cost of A$69-million, with a finance requirement of $43-million, while the... 

Strong vanadium prices boost Bushveld’s H1 Ebitda; production guidance lowered

By: Marleny Arnoldi     22nd August 2018 Aim-listed Bushveld Minerals’ earnings before interest, taxes, depreciation and amortisation (Ebitda) for the six months to June 30 increased by 439% year-on-year to R521-million. Sales revenue increased by 139% to R1-billion, compared with R439-million in the first half of 2017, primarily... 

Brazil's Samarco mine unlikely to restart in 2019 -BHP

By: Reuters     21st August 2018 There is little likelihood that Brazil's Samarco iron ore mine, a joint venture between Vale SA and BHP Billiton, will restart operations next year even though it expects to have all of the required licenses, a BHP spokesman said on Tuesday. The statement confirmed comments made by another BHP... 

Tharisa continues talks about Salene chrome project shareholding

By: Simone Liedtke     21st August 2018 JSE- and LSE-listed Tharisa is continuing discussions with the Leto Settlement Trust regarding the optimisation of certain aspects of the transaction structure for Tharisa’s 90% shareholding in the Zimbabwe-based Salene chrome project. Tharisa envisages a successful outcome to the discussions,... 

BHP’s underlying profit jumps 33%, pays record dividend

By: Esmarie Swanepoel     21st August 2018 Diversified miner BHP has reported a 33% increase in underlying attributable profit for the financial year ended June, as well as a 10% increasing in operating cash flows. Underlying attributable profit, which excludes one-time gains and losses, was reported at $8.9-billion for the 2018... 

BHP’s underlying profit jumps 33%, pays record dividend
BHP CEO Andrew Mackenzie

Fortescue profit hit by China demand, 60% iron content product to be launched in FY19

By: Mariaan Webb     20th August 2018 China’s demand for higher grade iron-ore has hit Australian miner Fortescue’s pocket hard, with the company on Monday reporting that its net profit had more than halved in the 2018 financial year, ended June 30. Fortescue’s net profit after tax decreased from $2.09-billion in the 2017 financial... 

Fortescue profit hit by China demand, 60% iron content product to be launched in FY19
Fortescue CEO Elizabeth Gaines

Mining industry reaffirms commitment to safety with campaign launch

By: Simone Liedtke     17th August 2018 The Minerals Council South Africa (MCSA), previously known as the Chamber of Mines, on Friday launched its National Day of Safety and Health in Mining 2018, which will see 66 MCSA member companies hosting safety and health days at each of their operations in the next month. The launch of the... 

Mining industry reaffirms commitment to safety with campaign launch
Photo by Dylan Slater
MCSA CEO Roger Baxter

Commodity price increases lack conviction – IHS

By: Nadine James     17th August 2018 Commodity analysts IHS Markit on Thursday reported that the Materials Price Index (MPI) had risen by 0.5% in the last week, but that the index’s ten subcomponents were evenly split between those showing increases and those showing declines, highlighting the uncertainty in markets. The MPI... 

New-gen scanning technology released, interest from SA companies

By: Jessica Oosthuizen     17th August 2018 Global corporate engineering and consulting group DMT has released the new-generation Slim Borehole Scanner (SBS) technology for imaging extra-slim drill holes with a diameter of 23 mm, with keen interest from local mining companies, says DMT director Sodhie Naicker. One of the SBS’s primary... 

New-gen scanning  technology released,  interest from SA companies
SLIM BOREHOLE SCANNER The self-sufficient wireless tool is lightweight and easy to mobilise and use

Wits to host earthmoving, maintenance courses

By: Nadine James     17th August 2018 The University of Witwatersrand (Wits) Centre for Mechanised Mining Systems – part of the Wits Mining Institute (WMI) – will present three-day courses in mechanised earthmoving and in maintenance management in November.  WMI director professor Fred Cawood is delighted to introduce the first two... 

Wits to host earthmoving, maintenance courses
Photo by Creamer Media
FRED CAWOOD These courses are aimed at engineers and technicians, and will be followed up by a best practice workshop on South African mechanised mining lessons in 2019

Anglo Pacific makes $50m investment in Labrador Iron Ore Royalty

By: Mariaan Webb     16th August 2018 LSE- and TSX-listed Anglo Pacific on Thursday announced that it had acquired a 4.25% shareholding in Labrador Iron Ore Royalty (LIORC) for $50-million, an investment that the company said should be immediately value accretive. LIORC, which is listed on the TSX and has a market capitalisation of... 

Indian mining industry seeks tax overhaul

By: Ajoy K Das     16th August 2018 The Indian mining industry has called for a complete overhaul and rationalisation of the tax regime, including scrapping the export tax on iron-ore and bauxite. The Indian mining industry has to bear the burden of one of the highest incidence of tax in the world. Mines allocated through... 

Transnet signals intention to suspend CEO Gama

By: African News Agency      16th August 2018 The Transnet board has served notice on CEO Siyabonga Gama and two other top senior officials that it intends to place them on precautionary suspension. Chief procurement officer Thamsanqa Jiyana and supply chain manager Lindiwe Mdletshe also received letters on Wednesday. 

Transnet signals intention to suspend CEO Gama
Photo by Creamer Media
Transnet CEO Siyabonga Gama

Eastplats’ chrome circuit completion targeted for Q3

By: Marleny Arnoldi     15th August 2018 Construction of Vancouver-based Eastern Platinum’s (Eastplats’) retreatment project, at its Crocodile River mine, in South Africa’s North West, is progressing well and all significant items required for the chrome circuit’s completion and commissioning are on site. Completion of the form... 

Champion appoints Roxgold finance chief as its CFO

By: Creamer Media Reporter      14th August 2018 TSX-listed Champion Iron on Tuesday announced the appointment of Natacha Garoute as CFO. Garoute has more than 20 years of finance experience, with a strong focus on mining, most recently as CFO of TSX-listed gold producer Roxgold. 

Local downstream oil investments, across Atlantic gold prospects and rail derailments make headlines 

14th August 2018 Glencore’s local downstream oil investments are expected to be concluded in the near future, Rangold Resources is looking across the Atlantic along the northern edge of South America for new prospects, and Transnet has derailed its reputation by allowing derailments and rail cancellations on its... 

Local downstream oil investments, across Atlantic gold prospects and rail derailments make headlines
Local downstream oil investments, across Atlantic gold prospects and rail derailments make headlines

Champion Iron posts a profit during Bloom Lake ramp-up

By: Mariaan Webb     13th August 2018 TSX- and ASX-listed Champion Iron has reported net income of C$20.7-million for the June quarter, which chairperson CEO Michael O’Keeffe on Monday hailed as a major achievement, considering that the Bloom Lake iron-ore mine was in the ramp-up phase during the three months under review. Bloom... 

Mustang to raise A$2.4m in private placement

By: Marleny Arnoldi     13th August 2018 ASX-listed Mustang Resources will raise about A$2.4-million through a private placement to advance its Caula vanadium/graphite project, in Mozambique, and for general working capital. Of this amount, A$2.18-million will be raised through the issue of about 158.6-million shares at $0.01374 apiece.  

Rio Tinto considers float of Canadian iron-ore business

By: Reuters     10th August 2018 Rio Tinto, the world's second largest listed mining company, is exploring a public listing of its Iron Ore Company of Canada business, banking and industry sources said, as it focuses on boosting revenue from its flagship Australian assets. Iron-ore, which accounts for most of Rio's profit and... 

Difficult conditions in ferro-alloys segment impacts on Afarak’s H1 profitability

By: Simone Liedtke     10th August 2018 The second quarter of 2018, ended June 30, was particularly difficult for specialty alloys producer Afarak, the company said on Friday, with the ferro-alloys segment having shown a bad performance which negatively impacted on the group’s overall financial results. This, Afarak pointed out, was... 

BHP says Brazil court approves Samarco settlement

By: Reuters     10th August 2018 Mining heavyweight BHP said on Thursday a federal court in the Brazilian state of Minas Gerais approved an agreement between miner Samarco and Brazil authorities, marking a milestone in the legal battle over a deadly 2015 dam failure. A 20-billion reais ($5.- billion) lawsuit against Samarco,... 

Watershed changes hands

By: Esmarie Swanepoel     10th August 2018 ASX-listed Vital Metals’ A$15-million sale of its Watershed tungsten project, in Queensland, has been completed. The company in May this year struck a deal with fellow-listed Tungsten Mining to divest of the asset. 

African Chrome commissions Zimbabwe plant

By: Nadine James     10th August 2018 Zimbabwe-based chrome producer African Chrome Fields (ACF) launched a new aluminothermic plant last month, thereby assisting in the creation of new jobs and enhancing production capacity, enabling the company to produce 300 t of ferrochrome a month before  ramping up to 600 t at full production.... 

Unisa, Mintek officially launch shared imaging facility

By: Nadine James     10th August 2018 The University of South Africa (Unisa) and Mintek officially launched their shared Materials Imaging Laboratory, and specifically their recent acquisition of an X-ray microscope (XRM), which enables both institutions to carry out advanced mineral and material research. In 2017, Unisa and Mintek... 

Barloworld Equipment launches next-generation excavators in the Southern African market

By: Nadine James     10th August 2018 Southern African dealer for Cat earthmoving equipment Barloworld Equipment officially launched three new Cat excavator models – the 320, 320GC and 323 – at an event held at the Nasrec Exhibition Centre, last week. All three boast increased operating efficiency, lower fuel and maintenance costs as... 

Barloworld Equipment launches next-generation  excavators in the Southern African market
CAT 323 Delivering high production performance, the new Cat 323 boasts standard integrated Cat Connect Technology and the most power and lift capacity in the line

Fibre optics punted for pipeline monitoring amid major spills in mining and other sectors

By: Nadine James     10th August 2018 Fibre optics were invented to carry huge amounts of voice data over long distances very efficiently, but advancements in optical technology have enabled the use of specialised fibre optic cables as sensors with the ability to measure parameters such as acoustic energy, temperature, strain, and... 

Fibre optics punted for pipeline monitoring amid  major spills in mining and other sectors

Explorer pursues manganese opportunities

10th August 2018 Perth-based explorer Bryah Resources is looking towards mining manganese in Western Australia, as it assesses development opportunities at the Horseshoe South manganese mine. The company has locked in an exclusive one-year option to purchase the mining lease covering the historical Horseshoe... 

Explorer pursues manganese opportunities
EXPLORATION INTEREST Bryah Resources MD Neil Marston at Horseshoe South mine near Meekatharra in Western Australia

Bauba signs chrome offtake agreement

By: Anine Kilian     8th August 2018 JSE-listed Bauba Platinum has signed a chromite ore commodity purchase contract with Gerald Metals and Pelagic Resources for chrome ore run-of-mine (RoM) produced at its Moeijelijk mine, in Limpopo. This agreement is underpinned by a $5-million prepayment, which represents a part prepayment on... 

Eskom pilots incentive designed to claw back 5 TWh of energy-intensive demand 

By: Terence Creamer     6th August 2018 State-owned electricity producer Eskom has confirmed that it has entered into a sales incentive pilot programme with nine large industrial customers in a bid to stabilise sales to electricity-intensive industries. The two-year sales incentive pilot programme, which commenced on June 1, has the... 

Eskom pilots incentive designed to claw back 5 TWh of energy-intensive demand

Glencore-Merafe venture’s H1 ferrochrome output decreases as production costs rise

By: Simone Liedtke     6th August 2018 JSE-listed Merafe Resources’ attributable ferrochrome production from the Glencore-Merafe chrome venture for the six months ended June 30, decreased by 2.3% to 211 000 t, with production for the period equivalent to an installed capacity utilisation of 88%. Total production costs per tonne of... 

Carpentaria finds funding partner for Hawsons

By: Esmarie Swanepoel     6th August 2018 ASX-listed Carpentaria Resources has reached an agreement with Mitsui & Co that would drive the development of the Hawsons iron project, in New South Wales. Carpentaria on Monday noted that the Japanese trading house will contribute A$5.4-million towards the cost of a bankable feasibility study... 

Fortescue cuts Atlas Iron stake, to retain ‘substantial holding’

By: Esmarie Swanepoel     6th August 2018 Iron-ore major Fortescue Metals on Monday said that it would retain a “substantial shareholding” in takeover target Atlas Iron, despite reducing its interest from 19.9% to 11.37%. “Fortescue has considered its options with regard to the 19.9% shareholding in Atlas Iron and has decided to retain... 

India's Goa state to push federal govt to restart mining

By: Reuters     6th August 2018 India's Goa state on Friday passed a resolution asking the state's chief Minister to push the federal government to amend laws to restart mining across the state, a state lawmaker said, months after the country's top court quashed mining permits. The resolution seeks to amend laws in Goa so that... 

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