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Ferrous Metals News

Goa counting the cost of iron-ore mine closures

By: Ajoy K Das     4th December 2018 The government of the western Indian coastal state of Goa has estimated that it is losing $214-million a month in revenues, following the closure of all iron-ore mines since March. With neither the state, nor central government succeeding in ensuring resumption of mining operations by December,... 

Financially troubled Bellzone’s shares suspended

By: Creamer Media Reporter      3rd December 2018 West Africa-focused Bellzone Mining requested a suspension of trading in its shares on the London bourse on Monday, warning that it would go insolvent if it could not source funds in the “very near term”. The troubled company, which develops iron-ore and nickel/copper assets in Guinea, previously... 

Glencore's billionaire copper chief retires under legal pressure  

By: Bloomberg     3rd December 2018 Glencore on Monday announced the retirement of-billionaire Aristotelis Mistakidis, its embattled head of copper trading and one of the company’s biggest shareholders. Mistakidis’s departure marks the end of an era. The 56-year-old executive is one of the world’s most powerful commodities traders... 

Glencore's billionaire copper chief retires under legal pressure

Saldanha iron-ore rail line to remain shut until Dec 9 after truck accident

By: Creamer Media Reporter      30th November 2018 State-owned Transnet has stopped all rail activity along the Saldanha iron-ore export line after a truck carrying an abnormal load with excessive height collided with a railway bridge between Vredendal and Lutzville, in the Western Cape. The accident, which took place at about 10:00 on Wednesday... 

Karnataka mine closure triggers conflicting claims on iron-ore supplies

By: Ajoy K Das     30th November 2018 The closure of NMDC’s Donimalai iron-ore mine has triggered conflicting claims about supplies, with the industry saying there is a shortage, which gives rise to higher prices and imports, while the Karnataka government, for its part, has sought central intervention to tackle a glut in the... 

Fortescue taps new tech to step up copper hunt across Australia

By: Reuters     30th November 2018 Australian miner Fortescue Metals this week said the latest developments in satellite imagery are helping it scour vast swathes of its own backyard for new deposits, seeking an edge as it jostles with global peers for the next big strike. The world's fourth-largest iron ore miner raised its... 

BHP extends Decmil's contract at Mulla Mulla

By: Esmarie Iannucci     30th November 2018 Mining major BHP has extended ASX-listed Decmil’s contract at Mulla Mulla in the Pilbara. The works, which upgrade and expand the existing Mulla Mulla village, will support the current operations at Mining Area C and the South Flank project. 

Anglo willing to play constructive land role  

By: Martin Creamer     29th November 2018 Anglo American CEO Mark Cutifani on Wednesday expressed willingness to play a constructive role in helping South Africa to arrive at solutions involving the diversification of land ownership and ensuring land productivity. Speaking to journalists at a year-end media function, Cutifani urged the... 

Anglo willing to play constructive land role
Photo by Creamer Media
Anglo American CEO Mark Cutifani

ARM shares start trading on A2X

By: Creamer Media Reporter      29th November 2018 Diversified miner African Rainbow Minerals' (ARM's) shares started trading on the A2X on Thursday.   ARM, which will retain its primary listing on the JSE, is the first mining company to list on the A2X.   A2X CEO, Kevin Brady says, “We are pleased to welcome African Rainbow Minerals onto our... 

Rio Tinto approves $2.6bn ‘game-changer’ iron-ore mine

By: Esmarie Iannucci     29th November 2018 Mining major Rio Tinto on Thursday approved a $2.6-billion investment to develop its Koodaideri iron-ore mine, in Western Australia. “Koodaideri is a game-changer for Rio Tinto. It will be the most technologically advanced mine we have ever built and sets a new benchmark for the industry in... 

Rio Tinto approves $2.6bn ‘game-changer’ iron-ore mine

Fortescue readies first shipment of new mid-grade iron-ore

By: Reuters     28th November 2018 Australia's Fortescue Metals Group is set to ship the first cargo of its new mid-grade iron ore next month just as a rout in Chinese steel prices helps it improve its margins in competition with higher grade products. The world's fourth-largest iron ore miner will make the first shipment of its... 

Karnataka govt, NMDC spat over Donimalai iron-ore block escalates

By: Ajoy K Das     28th November 2018 The spat between State-run iron-ore miner NMDC and the government of the southern Indian state of Karnataka over the Donimalai iron-ore block has escalated with both sides threatening retaliatory measures. The Karnataka government renewed the lease of the Donimalai mines in favour of NMDC earlier... 

Tharisa FY18 headline earnings, operating profit fall

By: African News Agency      28th November 2018 Integrated resource group Tharisa on Wednesday reported a 13.6% decline in headline earnings per share to $0.19 in the year to September 30, while operating profit fell 26.3% to $72.5-million. Revenue was up 16.3% to $406.3-million and the company declared a final dividend to shareholders of... 

Canadian iron-ore mine’s restart fully financed

By: Mariaan Webb     28th November 2018 Junior iron-ore company Tacora Resources is bringing back to life the defunct Scully mine in Labrador West, Canada, and announced on Tuesday that it had secured the necessary financing to restart operations. The company closed $212-million in private equity and senior secured debt financing,... 

Canadian iron-ore mine’s restart fully financed

Nigeria awards mining exploration contract to ten mining, consulting firms

By: Reuters     28th November 2018 Nigeria has awarded a mining contract to ten exploration and consulting companies as part of the country's efforts to develop the sector, the mining and steel development minister said on Tuesday. Abubakar Bawa Bwari did not say how much the contracts were worth but in July he had said eight... 

Tharisa, AMCU agree to two-year wage deal

By: Creamer Media Reporter      27th November 2018 JSE- and LSE-listed Tharisa has reached a two-year wage agreement with the Association of Mineworkers and Construction Union (AMCU) at the Tharisa platinum group metals and chrome mine, near Rustenburg. The agreement is effective from July 1, this year, to June 30, 2020, and applies to employees... 

Capstone explores alternatives for Chile project, including selling stake

By: Mariaan Webb     26th November 2018 Canadian base metals miner Capstone Mining is aiming to cash in on the shortage of high-quality, large-scale copper projects by selling a portion of its Santo Domingo iron oxide-copper/gold project, in Chile. The Vancouver-based company on Monday announced the start of a strategic process to... 

Capstone explores alternatives for Chile project, including selling stake

Centaurus sells Conquista

By: Esmarie Iannucci     23rd November 2018 Brazil-focused Centaurus Metals has divested its Conquista iron-ore project, to privately held Brazilian company R3M Mineracao. Under the terms of the agreement, R3M will pay R$500 000, or around A$185 000, to Centaurus by mid-December, and will grant Centaurus a 12% royalty on all future... 

BASF makes low-nickel wager amid scramble for battery metals

By: Reuters     23rd November 2018 German chemicals giant BASF is betting on a new recipe for electric car batteries which stretches the time between charges while cutting dependence on nickel to help shave costs and grab more of a growing market. It is part of flurry of activity in the sphere of cathodes materials, a major... 

South African infrastructure better suited to transporting precious metals than base metals 

By: Nadine James     23rd November 2018 South Africa’s (SA’s) transport infrastructure was built for and remains suited to the movement of precious metals and diamonds, Herbert Smith Freehills (HSF) consultant Biddy Faber told attendees of the roundtable on Exploring comparisons between SA and Brazilian mining and infrastructure... 

Vale has too few projects lined up to significantly reduce iron-ore reliance – report

By: Mariaan Webb     21st November 2018 Brazilian mining company Vale remains heavily reliant on iron-ore as its main source of revenue, despite a stated objective of reducing the percentage of earnings derived from the ferrous metal. Vale is aiming for ferrous minerals to contribute about 70% of its earnings, rather than the 90% of... 

Vale has too few projects lined up to significantly reduce iron-ore reliance – report
The SD11 plant

Brazil, India to defy global slowdown of iron-ore production up to 2027

By: Marleny Arnoldi     21st November 2018 The global iron-ore market will stay well supplied up to 2027, supported by expanding output in Brazil and India, says Fitch Solutions’ Macro Research unit. Global iron-ore production will grow modestly from 3.36-billion tonnes to 3.41-billion tonnes by 2027, representing a yearly growth rate... 

Law Ministry advises against legislation changes to resume Goa iron-ore mining

By: Ajoy K Das     21st November 2018 India’s Law Ministry has opined that the government should not resort to legislative changes to bring closed iron-ore mines back into operation in the western coastal state of Goa. The Law Ministry in a communication to counterparts in the Mines Ministry said that there was no “legislative cure”... 

Difficulties continue for Afarak in Q3

By: Simone Liedtke     16th November 2018 Industry seasonal effects, coupled with some internal adversities, primarily in the ferro-alloys segment, continue to make this a difficult year for specialty alloys producer Afarak. During the company’s third-quarter period, ended September 30, the benchmark price for ferrochrome fell further,... 

India state may cancel NMDC's Donimalai mine lease in levy dispute

By: Reuters     16th November 2018 The government of India's Karnataka state on Friday warned NMDC that it will cancel the lease of its Donimalai iron-ore mine if the State-owned miner refuses to pay an additional levy on the sale of its ore. Karnataka's threat to cancel the lease stems from a dispute between NDMC, India's... 

BHP blames driver error, brake problem for runaway train wreck

By: Reuters     16th November 2018 BHP said on Friday that driver error caused an iron-ore train to run away without its driver and a brake problem caused the company to intentionally derail the train in order to stop it, according to a preliminary investigation. BHP said its initial findings of the November 5 incident showed the... 

Supreme Court to hear appeal in long-running Rio Tinto IOC-Innu suit

By: Mariaan Webb     16th November 2018 The Supreme Court of Canada has agreed to hear an appeal by the government of Newfoundland and Labrador on the issue of the jurisdiction of Quebec courts in respect of the Innu communities of Uashat mak Mani-Utenam and Matimekush-Lac’s C$900-million lawsuit against a unit of global miner Rio... 

Instil portable skills to assist economic development post closure – consultancy

By: Nadine James     16th November 2018 Mining companies’ social and labour plans (SLPs) should incorporate initiatives or programmes aimed at reskilling workers and uplifting community members through the development of portable skills, says socioeconomic development facilitator Economic Development Solutions (EDS) MD Janine Espin.... 

Instil portable skills to assist economic development post closure – consultancy
JANINE EPSIN ompanies should approach closure with economic sustainability in mind

Keras to start bulk sampling testwork at Nayega project in early 2019

By: Marleny Arnoldi     15th November 2018 Aim-listed Keras Resources remains on schedule to ship a 10 000 t bulk sample of manganese, mined at the Nayega manganese project, in Togo, for pyrometallurgical testwork, by the end of January. The company on Thursday stated that about 6 000 t (of +12mm manganese) has been pre-screened on the... 

Vale holds talks to expand world's biggest openpit iron mine

By: Bloomberg     15th November 2018 Vale is holding talks with Brazilian officials about expanding the world’s largest open pit iron-ore mine to meet growing Chinese demand for the high-grade ore. The Rio de Janeiro-based company recently sat down with regulators to discuss expanding its $14-billion mine located in the Amazon... 

Eastplats retreatment project remains on track

By: Simone Liedtke     14th November 2018 Dual-listed Eastern Platinum (Eastplats) expects to start revenue-producing operations at the retreatment project at its Crocodile River mine, in the North West, in the fourth quarter of this year. The dual-listed company has, over the course of this year, focused on the construction of the... 

Vanadium batteries the solution to meet growing energy storage demand – Bushveld 

By: Simone Liedtke     14th November 2018 Vanadium redox flow batteries (VRFBs) are a front-runner technology for meeting the growing demand in the energy storage sector, says Bushveld Energy CEO Mikhail Nikomarov. During a webinar on energy storage this week, he noted that data by US-based multiservice professional firm Navigant shows... 

Afarak will not dismiss board, launches voluntary shareholder buyout

By: Marleny Arnoldi     12th November 2018 LSE-listed specialty alloy producer Afarak Group has resolved to not appoint a new board of directors, following a request by shareholders, who hold a collective 11.09% of shares, to dismiss the company’s board. The shareholders’ request, submitted in August, followed after the Finnish... 

Koolyanobbing unaffected by derailment - MinRes

By: Esmarie Iannucci     12th November 2018 ASX-listed Mineral Resources on Monday told shareholders that a train derailment over the weekend was not expected to have a material impact on iron-ore production at the Koolyanobbing project, in Western Australia, or on the company’s shipment schedule. Mineral Resources over the weekend... 

Second Australian iron-ore train derailed in less than a week

By: Bloomberg     11th November 2018 Australia’s iron-ore industry was hit with a second train derailment in a week when 30 empty ore wagons ran off the tracks in the southern part of Western Australia on Sunday. The second derailment happened at 7:30 a.m. Perth time south of Norseman as an ore train returned from the southern... 

Baffinland sets shipping record

By: Creamer Media Reporter      9th November 2018 Baffinland Iron Ore Mines has set a new shipping record of 5.1-million tonnes in its most recent shipping programme. From July 24 to October 17, 71 voyages were executed from the mine on Baffin Island, Nunavut, carrying an average of 71 750 t of iron-ore each over an 86-day period. 

Atlas compulsory acquisiton set to start

By: Esmarie Iannucci     9th November 2018 Hancock Prospecting will start the compulsory acquisition of the remaining shares in ASX-listed Atlas Iron, after gaining more than a 90% shareholding in the takeover target at the end of the offer on October 12. Hancock’s subsidiary Redstone Corporation on Friday told Altas that it would lodge a... 

Mining production down 1.8% y/y in September, led by lower gold output 

By: Marleny Arnoldi     8th November 2018 Mining production decreased by 1.8% year-on-year in September, with the largest negative contributor being gold production with a decline of 19% and contributing -3.1 percentage points. The largest positive contributor was platinum-group metals (PGMs), which had a 7.2% production increase,... 

Mining production down 1.8% y/y in September, led by lower gold output

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