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Ferrous Metals News

Mining project management company eyes city’s bourse

By: Leandi Kolver     23rd November 2007 “Initially, suppliers, clients and banks still associated MDM Engineering with MDM Ferroman, and this caused distrust and a negative perception from the industry. In August 2006, I terminated the consultancy agreement we had with Gordon McCrae. Our quality and current project list proves... 

Canadians rope in Koreans to raise capital for Namibian uranium venture

By: Felix Njini     23rd November 2007 Toronto Stock Exchange-listed Forsys Metals Corporation has roped in Korean nuclear energy firm Korea Hydro & Nuclear Power Company (KHNP) to help raise capital for its Namibian uranium venture which, company officials say, is to take off in 2009. 

Investment in South African mining showing positive growth, says Chamber economist 

By: Brindaveni Naidoo     23rd November 2007 The mining sector in South Africa has “turned the corner”, with positive growth in investment recorded in 2006 and in the first half of this year, chief economist of the Chamber of Mines Roger Baxter said at the fifteenth bme annual conference on explosives, drilling and blasting... 

Kalagadi selects ArcelorMittal as R4,2bn manganese project partner

By: Martin Creamer     20th November 2007 Empowered South African development company Kalagadi Manganese had selected ArcelorMittal as its strategic equity partner in a R4,2-billion deal that would fund South Africa’s first major greenfield manganese project in 30 years, Kalagadi Manganese chairperson Daphne Mashile-Nkosi told... 

BHP-Rio merger will create iron-ore ‘monopoly’, steel makers say

By: Creamer Media Reporter      20th November 2007 A Brussels-based global steel producers body has hit out at mining giant BHP Billiton's proposed tie-up with smaller peer Rio Tinto, saying that it would create a monopoly in the seaborne iron-ore market. 

Chrometco puts DRC projects on ice, enters talks in SA

By: Matthew Hill     8th November 2007 AltX-listed diversified junior Chrometco has suspended all operations in the Democratic Republic of Congo (DRC) and has entered talks on a mining project back home, it said on Thursday. 

Kermas, Petmin buy Veremo, plan iron-ore mine

By: Matthew Hill     6th November 2007 JSE- and Aim-listed Petmin said on Tuesday that it had struck a deal with LSE-listed Kermas, under which the two would jointly buy Veremo Holdings, which owned an iron ore and pig iron deposit in Mpumalanga. 

Sphere sells further stake in Mauritania iron-ore project

By: Christy van der Merwe     2nd November 2007 ASX-listed Sphere Investments, which sold a 15% stake in the Guelb el Aouj iron-ore project, in Mauritania, to Qatar Steel Company (QSC), said on Friday, that QSC would buy a further 34,9% interest.  

New ferrochrome outfit plans May listing

By: Matthew Hill     30th October 2007 Newly formed black-owned Tharisa Minerals, which plans to build a 600 000 t/y ferrochrome project near Rustenburg, is targeting a listing on the LSE in May next year, the firm said on Tuesday. 

Sphere to raise A$48m for Mauritanian exploration

18th October 2007 Iron-ore project developer Sphere Investments will place 15-million fully paid ordinary shares as A$3,20 a share to raise A$48-million to advance drilling at two Mauritanian projects.  

Braemore may build western limb PGM smelter using Mintek technology

By: Matthew Hill     16th October 2007 Aim-listed Braemore Resources said on Tuesday that it was studying the feasibility of building a new 10-MW platinum group-metals (PGM) smelter on the western limb of the Bushveld Complex, which would be commissioned mid-2009. 

Final feasibility study expected next month for Cameroon project

By: Olivia Soraya Spadavecchia     16th October 2007 TSX Venture-listed Geovic Mining's 60% owned subsidiary Geovic Cameroon (GeoCam) expects to release the final feasibility study (FFS) of the Nkamouna cobalt/nickel/manganese project next month. 

Review points to economic viability at Zambian iron prospect

By: Olivia Soraya Spadavecchia     16th October 2007 An independent project review of Canadian firm Luiri Gold's Nambala iron deposit, west of Lusaka, Zambia, has indicated potential to establish an economically viable operation, the company said on Tuesday. 

Limpopo iron-ore mine brings suppressor on stubbon dust

By: Christy van der Merwe     5th October 2007 In a constant effort to control dust emission, Kumba Iron Ore's mine in Thabazimbi, Limpopo, is carrying out an ongoing six-month trial of a biodegradable dust suppression agent, Roads environmental dust-suppressant (Reds), manufactured by drilling fluid and chemical supplier Samchem. 

Mineral-processing technology provider wins export award

By: Brindaveni Naidoo     5th October 2007 Mining and minerals-processing equipment supplier Multotec was named this year's winner in the large manufacturing category of the Gauteng Exporter of the Year Awards, hosted by the Johannesburg Chamber of Commerce and Industry (JCCI). 

Chrometco sells Rooderand chrome project for R60m

By: Mariaan Webb     27th September 2007 Junior explorer Chrometco has sold its Rooderand chrome project to private company DCM Chrome for R60-million, it said on Thursday.  

Merafe to participate in Xstrata's Bokamoso project

By: Mariaan Webb     27th September 2007 Black-empowered ferrochrome producer Merafe agreed to pay R181-million to diversified miner Xstrata to join the Bokamoso pelletising and sintering plant, in the North West province of South Africa, it said on Thursday. The company, led by Steve Phiri, has placed 40-million shares at 165c a share... 

International Ferro Metals widens loss on increased mine development

By: Matthew Hill     25th September 2007 LSE-listed and South Africa-focused ferrochrome producer International Ferro Metals (IFM) widened its after-tax loss for the year ended June 30 to R344-million, from the previous year’s figure of R242-million, it said on Monday. 

Chrometco loss to widen as exploration gains pace

By: Matthew Hill     25th September 2007 AltX-listed diversified junior Chrometco said on Tuesday that it expected its headline loss to have widened by 35,7% to 2c a share for the half-year ended August 31, as it spent more on exploration and development. 

Low-hanging fruit still in Africa, says Motsepe

By: Christy van der Merwe     14th September 2007 With a focus on accelerating exploration and production build-up in Africa, diversified miner African Rainbow Minerals (Arm) increased exploration expenditure to R126-million, through TSX- and JSE-listed exploration and mining company Teal. 

IFM may lose up to 30 000 t output in SA after technical faults

By: Matthew Hill     12th September 2007 LSE-listed ferrochrome producer International Ferro Ferrometals (IFM) could lose as much as 30 000 t of production at its South African furnaces, after faults disrupted operations. 

Xstrata to decide on phase two of Project Lion by mid-2008

By: Matthew Hill     11th September 2007 Diversified mining giant Xstrata is expected to make a decision on the 360 000 t/y phase two of its Project Lion ferrochrome operation in the first half of next year, an official told Mining Weekly Online. The project team was busy conducting an economic study and budget for the expansion, which... 

Metmar lifts direct, indirect stakes in Mogale Alloys

10th September 2007 JSE-listed commodities-trading company Metmar has increased its effective holding in Mogale Alloys to 11,81% from 9,86% in a R14,8-million transaction, the company said on Monday. 

EnviroServ acquires 80% stake in mine waste specialist

By: Christy van der Merwe     7th September 2007 JSE-listed waste solution provider Enviroserv, has acquired an 80% stake in waste specialist company Brollo. 

Oz iron-ore firm targets $25,5/t margins at Cameroon mine

By: Mariaan Webb     6th September 2007 ASX-listed Sundance Resources says it expects to deliver an operating margin of around $25,5 a ton on its emerging Mbalam iron-ore project in Cameroon. 

Rail capacity squeeze may choke manganese-output growth

By: Matthew Hill     3rd September 2007 JSE-listed diversified miner African Rainbow Minerals (Arm) reiterated concerns on Monday that South African manganese producers� growth could be constrained if State-owned rail provider Transnet Freight Rail (TFR), formerly Spoornet, could not match industry expansion. 

Eyebrows go up as Arm pays maiden dividend, plans big capex roll-out 

By: Matthew Hill     3rd September 2007 Black-owned diversified miner African Rainbow Minerals (Arm) announced its first dividend payment on Monday, amounting to R315-million. However, a local mining analyst questioned the prudence of the timing of the payout, when viewed in light of the company's planned capital spend of... 

Interim plant commissioned ahead of schedule at Nkomati project

By: Matthew Hill     3rd September 2007 The Nkomati nickel mine joint venture owners announced jointly on Monday that they had commissioned the R384-million interim plant in budget and ahead of schedule, and that full production would be reached earlier in the fourth quarter than originally anticipated. 

Arm lifts headline earnings 161% on increased output, higher prices

By: Matthew Hill     3rd September 2007 JSE-listed diversified miner African Rainbow Minerals (Arm) said on Monday that its headline earnings for the year ended June 30 had rocketed by 161% to a record R1,2-billion, as it boosted production and enjoyed buoyant metal prices. The miner achieved record product sales for platinum group... 

Assore more than doubles earnings on higher volumes, prices

By: Olivia Soraya Spadavecchia     31st August 2007 JSE-listed iron-ore producer Assore has reported headline earnings for the year of R736-million, reflecting a 127,2% increase from the previous year. 

Sipho Nkosi to take the helm at Exarro

By: Matthew Hill     31st August 2007 Spring day, September 1, has traditionally signified a season of new beginnings, which which will ring particularly true in the case of South Africa�s biggest black-owned mining firm, Exxaro Resources, when Sipho Nkosi replaces Dr Con Fauconnier as CEO on the day.  

Chrometco considers offer for SA chrome asset

By: Matthew Hill     31st August 2007 AltX-listed diversified mining firm Chrometco said on Thursday that it had received numerous offers for its chrome resource on portion 2 of the Farm Rooderand in the North West Province, and that it was seriously considering one particular offer of R60-million. 

MDM Engineering wins BFS contract for N Cape manganese project

27th August 2007 South African project house MDM Engineering has been awarded a contract to undertake the bankable feasibility study (BFS) for Kalahari Resources' Kalagadi manganese project, in the Northern Cape, the firm announced on Monday. 

Samancor Chrome settles wage dispute with workers

By: Mariaan Webb     20th August 2007 Ferrochrome producer Samacor Chrome and the National Union of Mineworkers (NUM) have resolved their pay dispute and signed a wage deal, the union said on Monday.  

Merafe ramps up production to cash in on record global ferrochrome

By: Mariaan Webb     17th August 2007 With the international ferrochrome market likely to remain in a supply deficit until 2010, and prices expected to remain at record levels, local producer Merafe Resources says it plans to beef up production and have all 20 furnaces operational by the year-end. 

Exxaro's earnings leap 61% on soaring commodity prices

By: Matthew Hill     16th August 2007 South Africa's biggest black-owned mining company Exxaro Resources reported on Thursday that its earnings for the six-months ended June 30 shot up 61% year-on-year to R839-million, or R2,46 a share, on the back of buoyant commodity prices. 

Second-hand truck tyres costing more than new ones as shortage bites, says Kumba CEO Myburgh

By: Martin Creamer     7th August 2007 Second-hand tyres for large off-road trucks were costing more than new ones because of the biting tyre shortage, Kumba Iron Ore CEO Ras Myburgh told Mining Weekly Online on Tuesday. 

Merafe ramps up production to cash in on record ferrochrome demand

By: Mariaan Webb     7th August 2007 With the international ferrochrome market likely to remain in a supply deficit until 2010, and prices expected to remain at record levels, local producer Merafe Resources said it planned to beef up production and have all 20 furnaces operational by year-end. 

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