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Ferrous Metals News

Assore posts record sales, output, earnings, dividend

By: Martin Creamer     6th September 2018 Diversified mining company Assore on Thursday posted record-upon-record in what has been an outstanding 12 months for the JSE-listed chrome ore, manganese ore and iron-ore producer that also bettered its lost time injury frequency rate in the period but sadly suffered a fatality. The 12 months to... 

Master Drilling acquires Atlantis

By: Martin Creamer     5th September 2018 The strengthening of diversified geographic footprint of mining technology company Master Drilling is continuing with the announcement on Wednesday that the Johannesburg Stock Exchange company had entered into agreements to acquire the businesses of the Atlantis Group, a South African... 

Master Drilling acquires Atlantis
Photo by Creamer Media Chief Photographer Dylan Slater
Master Drilling CEO Danie Pretorius

Treasury must abandon carbon tax plan in light of IRP

By: Martin Creamer     4th September 2018 National Treasury must abandon its plans to introduce carbon tax, which will result in the closure of smelters at a time of desperate need for job retention and export promotion. This is the consensus of opinion canvassed by Mining Weekly Online following last Friday’s release of the Integrated... 

Treasury must abandon carbon tax plan in light of IRP

Eastplats completes framework agreement with Union Goal

By: Simone Liedtke     4th September 2018 Following the fulfilment of the conditions precedent regarding the Union Goal Offshore Solution framework agreement for the Barplats Zandfontein upper group two (UG2) tailings facility, in South Africa, JSE- and TSX-listed Eastern Platinum (Eastplats) continues the construction phase of the... 

IronRidge strengthens management team as it transitions from explorer to developer

By: Simone Liedtke     3rd September 2018 Aim-listed IronRidge Resources continues to strengthen its management team as it transitions from explorer to developer, through securing key executives and senior managers for the next phase of the company’s project and corporate development. On Monday, CEO Vincent Mascolo committed to a further... 

Tungsten Mining buys Hatches Creek

By: Esmarie Iannucci     3rd September 2018 ASX-listed Tungsten Mining has struck an A$8.68-million deal with fellow listed GWR Group to acquire the Hatches Creek tungsten project, in the Northern Territory. The project consists of two granted exploration licenses totaling 31.4 km2, which cover the historic Hatches Creek tungsten mining... 

Grindrod reports strong recovery in interim earnings

By: Marleny Arnoldi     31st August 2018 Freight and financial services group Grindrod has achieved a strong year-on-year recovery in the six months to June 30, with its earnings a share having increased to 317c, compared with a loss a share of 11.5c in the first half of 2017. Headline earnings a share were 3.8c, compared with a... 

Bauba optimistic for FY2019, despite potentially weaker chrome market

By: Simone Liedtke     30th August 2018 JSE-listed Bauba is optimistic about prospects for the 2019 financial year, despite the possibility of a weaker chrome market. Commenting on the chrome producer’s results for the 2018 financial year, ended June 30, CEO Nick van der Hoven explained that the ramp-up of underground production to 30... 

Indian govt cracks the whip to get states to complete fresh exploration by year-end

By: Ajoy K Das     30th August 2018 The Indian government has cracked the whip on mineral bearing states to ensure that they hold timely auctions of 288 mineral blocks, leases of which are slated to lapse in 2020. The federal Mines Ministry has issued an ultimatum to all mineral-bearing states to complete fresh exploration of... 

MinRes restarts ops at Yilgarn after wrapping up Cliffs deal

By: Esmarie Iannucci     30th August 2018 ASX-listed Mineral Resources (MinRes) has restarted operations at its Yilgarn operations after completing the acquisition of US group Cleveland-Cliff’s Koolyanobbing iron-ore operation, in Western Australia. The two companies in June this year struck a sales agreement over the Cliff’s tenements... 

Atlas reports losses in FY18

By: Esmarie Iannucci     29th August 2018 Embattled iron-ore miner Atlas Iron has reported a A$100-million drop in underlying earnings before interest, tax, depreciation and amortization (Ebitda) for the 2018 financial year, on the back of lower iron-ore outputs. Underlying Ebitda for the full year was down from the A$116-million... 

Bulk sampling programme gets under way at Nayega manganese project

By: Marleny Arnoldi     28th August 2018 Aim-listed Keras Resources has started Phase 1 of its 10 000 t bulk sampling testwork programme, at its Nayega manganese project, in northern Togo. Carriere Mines Travaux Public was appointed as mining and logistics contractor, which has established the testwork site and started the mining... 

Master Drilling mulling year-end dividend, launching blast-free borer

By: Martin Creamer     28th August 2018 Innovative drilling technologies company Master Drilling, which will next month launch a new blast-free mobile tunnel boring machine that is expected to have a far-reaching beneficial impact on mining, on Tuesday reported satisfactory results for the six months ended June 30. The Johannesburg... 

Master Drilling mulling year-end dividend, launching blast-free borer
Photo by Creamer Media
Master Drilling CEO Danie Pretorius

Gulf welcomes cornerstone investor

By: Esmarie Iannucci     28th August 2018 ASX-listed Gulf Manganese has secured a A$10.8-million cornerstone investment from Indonesian business man Bapak Dato Dr Low Tuck Kwong in exchange for a 19.8% equity holding in Gulf. Gulf on Tuesday said that it would issue more than 714.59million shares to Bapak TK Low at a placement price of... 

Sibanye expects Lonmin competition finality October 

By: Martin Creamer     27th August 2018 Precious metals mining company Sibanye-Stillwater expects Competition Commission finality on its proposed acquisition of platinum company Lonmin in October, following the closure of its transaction with surface gold mining company DRDGold, which is expected to make a positive contribution to... 

Sibanye expects Lonmin competition finality October
Sibanye-Stillwater CEO Neal Froneman’s update on Lonmin covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing. Nicholas Boyd.

Tshipi Borwa operations suspended following pit wall failure

By: Marleny Arnoldi     27th August 2018 The Department of Mineral Resources (DMR) has served a Section 54 notice on ASX-listed Jupiter Mines’ Tshipi Borwa manganese mine, in South Africa’s Kalahari manganese field, to temporarily suspend operations. The notice was reportedly issued owing to a recent pit wall failure and drilling and... 

Vale's iron-ore output will rise only if prices increase – CEO

By: Reuters     27th August 2018 The CEO of Brazil's Vale SA, the world's largest iron-ore producer, said in an interview published on Sunday that the company would ramp up annual production to 450-million tonnes only when prices rise. Vale CEO Fabio Schvartsman told the Estado de S. Paulo newspaper the company would only... 

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... 

Afarak shareholders request meeting to vote on dismissing board

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 Iannucci     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 Iannucci     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

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