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Ferrous Metals News

Analysts spring to Glencore’s defence as miner restores confidence with buyback scheme

By: Martin Creamer     5th July 2018 Research analysts have sprung to the defence of Glencore, which has rapidly restored confidence by announcing an immediate share buyback programme that communicates the formidable faith of management in the London- and Johannesburg-listed diversified mining and marketing company. In a note... 

Nigeria to offer 12.7bn naira mining contract to eight firms

By: Reuters     5th July 2018 Nigeria will offer a 12.7-billion naira ($41.6-million) mining contract to eight companies in exploration and consultancy, its junior mining minister said on Wednesday, adding both foreign and local firms were encouraged to participate. Nigeria's economy, one of Africa's largest, has been built... 

Meridian appoints interim CFO

By: Mariaan Webb     4th July 2018 TSX-V-listed manganese miner Meridian Mining has appointed Jonathan Richards as interim CFO, following the resignation of Carlos Braga. The London-headquartered mining company said on Wednesday that Richards had a keen understanding of the Brazilian operations and that he would be a valuable... 

Drone tech first for Kumba Iron Ore a ‘game changer’ at Sishen mine

By: Marleny Arnoldi     3rd July 2018 Diversified miner Anglo American subsidiary Kumba Iron Ore has worked through two years of complex legal, governance and logistical challenges to earn an operating licence to fly its own remote aircraft systems, or drones, which have already become a ‘game changer’ at its Sishen mine, near Kathu,... 

Drone tech first for Kumba Iron Ore a ‘game changer’ at Sishen mine

Hardey to acquire Argentina vanadium mine

By: Marleny Arnoldi     3rd July 2018 ASX-listed junior minerals company Hardey Resources has entered into a share sale agreement to acquire 100% of the issued share capital of Nelly Vanadium – a mineral explorer that owns the Nelly vanadium mine in San Luis province, in Argentina.  

Merafe appoints new financial director

By: Simone Liedtke     2nd July 2018 JSE-listed Merafe Resources has appointed Ditabe Chocho as the company’s FD, effective August 1. Chocho takes over from Kajal Bissessor, who will continue to serve her notice period in an advisory capacity until August 31 to ensure “a seamless transition and handover process of the financial... 

Commodity powerhouse warns of risks to growth from trade war

By: Bloomberg     2nd July 2018 Commodity powerhouse Australia delivered a double-barreled warning that rising trade protectionism will hurt global growth, adding its voice to a chorus of alarm just days before the US and China slap duties on each other, risking a spiral of tit-for-tat tariffs. “Trade tensions between the US... 

Commodity powerhouse warns of risks to growth from trade war

Takeovers Panel denies Fortescue plea

By: Esmarie Swanepoel     2nd July 2018 The Australian Takeovers Panel has declined to conduct proceedings against takeover target Atlas Iron. Iron-ore miner Fortescue Metals in June applied to the Takeovers Panel in a bid to stop Gina Rinehart’s Hancock Prospecting from gaining a greater stake in Atlas. 

Rio Tinto’s Paraburdoo stacker project to boost WA jobs

By: Esmarie Swanepoel     2nd July 2018 The Western Australian government has welcomed a decision by mining major Rio Tinto to construct new stackers at its Paraburdoo mine, in the Pilbara. Rio will spend about $39-million to replace the stackers, creating nearly 100 jobs in the process. 

Atlas recommends Hancock offer; cuts back production

By: Esmarie Swanepoel     29th June 2018 Takeover target Atlas Iron on Friday recommended the offer from Hancock Prospecting to shareholders, saying the board had unanimously agreed to recommend the offer. The majority of the Atlas board earlier this month determined that the 4.2c a share offer from Hancock was superior to an earlier... 

Atlas recommends Hancock offer; cuts back production

Atlas attributed no value to NWI interest

By: Esmarie Swanepoel     28th June 2018 ASX-listed Atlas Iron on Thursday said that the company had attributed no value to its interest in the North West Infrastructure (NWI) joint venture, or its intention to develop export capacity at the port of Port Hedland. Atlas was responding to a query from shareholder Fortescue, which urged... 

Atlas attributed no value to NWI interest

Orion Resource Partners raising $500m in royalty, streaming fund - sources

By: Reuters     26th June 2018 Orion Resource Partners is raising up to $500-million in a fund financing potash, tungsten and iron-ore mines, sources close to the matter said, meeting miners' need for funding and investors' appetite for long-term assets. Miners are turning to alternative sources of finance as the industry has... 

Fortescue makes a move in Atlas battle

By: Esmarie Swanepoel     26th June 2018 Iron-ore major Fortescue Metals, through its subsidiary NCZ Investments, has made an application to the Australian Takeovers Panel in a bid to stop Hancock Prospecting from gaining a greater stake in takeover target Atlas Iron. Hancock Prospecting recently launched a 4.2c a share cash offer for... 

Jindal Steel South Africa units file for business protection

By: Bloomberg     26th June 2018 South African units of Jindal Steel & Power filed for a local form of bankruptcy protection known as business rescue this month. Jindal Mining SA, Jindal Africa Investments and Eastern Solid Fuels filed notice of the voluntary proceedings on June 12, according to documents posted on Jindal... 

Glencore bets big on South Africa as Ramaphosa promises revival

By: Bloomberg     26th June 2018 Glencore has set its ambitions on expanding in South Africa, the homeland of its chief Ivan Glasenberg. As the company’s former business partner and new President Cyril Ramaphosa promises an economic recovery, Glencore is reaping profits from coal and chrome assets as prices rise. The company... 

Glencore bets big on South Africa as Ramaphosa promises revival
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Strong rand to impact on Kumba's interim earnings

By: Creamer Media Reporter      25th June 2018 Kumba Iron Ore says the stronger rand and lower export iron-ore prices negatively impacted on its headline earnings and earnings for the six months to June 30. In a trading update on Monday, the iron-ore miner said its headline earnings and earnings are likely to be at least R921-million and... 

Alderon bolsters its board with Morier appointment

By: Creamer Media Reporter      25th June 2018 TSX-listed Alderon Iron Ore has appointed Rolland Morier, an executive with expertise in financial management, business strategy, aboriginal land claims and government relations, to its board of directors. Alderon expects Morier to provide support and guidance in strengthening existing... 

Minerals Council said to plan free-carry challenge

By: Bloomberg     25th June 2018 South Africa’s main mining lobby group told analysts and mining companies that it would probably challenge a final draft of the government’s new Mining Charter if two key points of dispute aren’t removed, according to two people familiar with the matter. The Minerals Council South Africa, which... 

Minerals Council said to plan free-carry challenge
Photo by Dylan Slater
Mineral Resources Minister Gwede Mantashe

Support to ensure optimal performance

22nd June 2018 With mining operations remaining under pressure to optimise plants, original-equipment manufacturers (OEMs) and suppliers must be more dynamic and focused in terms of their overall market offering, says minerals beneficiation technology supplier MBE Minerals SA MD Johannes Kottmann. He says that... 

Support to ensure  optimal performance
THOROUGH MAINTENANCE MBE Minerals is capable of undertaking ongoing equipment condition monitoring, maintenance and service support

China continues to encourage foreign mining investment

By: Rebecca Campbell     22nd June 2018 In early April the People’s Republic of China established a new Ministry, that of Natural Resources (MNR). The creation of the new Ministry was part of a programme to restructure the country’s State Council (Cabinet). The MNR took over all the responsibilities of the previous (and now... 

China continues to encourage foreign mining investment

$14m Sprott loan to reboot Alderon’s Kami project

By: Creamer Media Reporter      21st June 2018 TSX-listed Alderon Iron Ore has entered into an agreement with Sprott Resource Lending for a $14-million loan facility, which will provide the junior with sufficient funds to repay a loan due to Liberty Metals and Mining and provide additional runway to reboot the Rose deposit of the... 

$14m Sprott loan to reboot Alderon’s Kami project
The Kami project in western Labrador.

Rio-Carb commissions academic research into the future of South Africa’s mining sector

By: Nadine James     21st June 2018 Chromium carbide (CrC) wear solutions provider Rio-Carb MD Martin Maine has identified a gap in the mining sector in the form of a lack of local beneficiation in the second-tier supply chain in the South African mining industry, and has commissioned academic research to establish how the country... 

Rio-Carb commissions academic research into the future of South Africa’s mining sector
Rio-Carb MD Martin Maine

Atlas directors back Hancock offer

By: Esmarie Swanepoel     21st June 2018 Takeover target Atlas Iron has backed a takeover offer from Hancock Prospecting, after suitor Mineral Resources (MinRes) pulled out of the race by failing to match the offer. MinRes earlier this week said that it would not make a counter offer for Atlas, after Hancock Prospecting launched a... 

Atlas directors back Hancock offer

South African mining-focused EV manufacturer launched

By: Nadine James     20th June 2018 Battery-driven mining vehicle solution provider Battery Power Industries (BPI) officially launched on Wednesday. The South African original-equipment manufacturer specialises in the development of battery energy systems, electrical traction systems and high-speed charging systems for underground... 

South African mining-focused EV manufacturer launched

Report alleges miners inadequately disclose information on environmental rehabilitation costs

By: Nadine James     20th June 2018 Neither the law, nor the accounting standards governing company disclosures, ensure the necessary transparency and accountability about financial provision for environmental rehabilitation, the Centre for Environmental Rights (CER) alleges in its ‘Full Disclosure: The Truth about Mining... 

Emission abatement technology could drive industrialisation – EPCM Global

By: Nadine James     20th June 2018 South African firm EPCM Global Engineering has partnered with Luxembourg-based Carbon Process & Plant Engineering (CPPE) to bring its emissions abatement technology to Africa, in a move that could spur industrialisation, says EPCM Global CEO Tumi Kgomo. He explains that the technology, which was... 

MinRes declines to up Atlas offer

By: Esmarie Swanepoel     20th June 2018 ASX-listed Mineral Resources (MinRes) on Wednesday announced that it will not make a counter offer for iron-ore miner Atlas Iron. MinRes had been given three business days to come up with a new offer for Atlas after Hancock Prospecting launched a 4.2c a share cash offer for Atlas, in which it... 

Selloff in iron-ore to rubber in China as US trade war widens

By: Reuters     19th June 2018 Prices of commodities from iron ore to rubber tumbled in China on Tuesday, with investor sentiment shaken by an intensifying trade war between Beijing and Washington that could hurt the world's No. 2 economy. The selloff also hit steel, copper, cotton and palm oil, as Chinese investors returned... 

MinRes given tight deadline to improve Atlas bid

By: Esmarie Swanepoel     19th June 2018 Iron-ore miner Atlas Iron has given suitor Mineral Resources (MinRes) three business days to match the takeover offer Hancock Prospecting put on the table earlier this week. Hancock on Monday revealed a 4.2c a share cash offer for Atlas, in which it already holds a 19.96% interest. 

Tshipi may distribute R1.5bn to shareholders in Sept

By: Creamer Media Reporter      18th June 2018 Tshipi é Ntle Manganese Mining, in which ASX-listed Jupiter Mines owns a 49.9% stake and which operates the Tshipi Borwa mine, expects to distribute R1.5-billion to its shareholders in September. In an update on Monday, Jupiter said Tshipi’s operations continue to exceed plan with annualised... 

Rio spending $2.2bn on iron-ore supply

By: Esmarie Swanepoel     18th June 2018 Diversified miner Rio Tinto on Monday revealed that it will be spending some $2.2-billion over the next three years on replacement mines for its iron-ore operations in the Pilbara, including initial spending on the proposed Koodaideri, West Angelas and Robe Valley developments. Rio’s iron-ore... 

Rinehart’s Hancock bids $390m for Atlas, trumps MinRes offer

By: Esmarie Swanepoel     18th June 2018 Gina Rinehart’s Hancock Prospecting has solidified its intentions for ASX-listed Atlas Iron, revealing a 4.2c a share takeover offer, or A390-million, for the Pilbara iron-ore miner. Atlas told shareholders on Monday that the Hancock offer, which would open in about two weeks’ time, would be... 

Samarco is said to be nearing settlement with Brazil prosecutors

By: Bloomberg     15th June 2018 After a year of back and forth, the owners of the idle Samarco iron-ore mine are close to signing a definitive settlement with Brazilian prosecutors that will clear the way for restart preparations and debt talks to begin, according to people briefed on the matter. Joint venture partners Vale... 

Minerals Council, water dept collaborate on water conservation, demand management project

By: Creamer Media Reporter      15th June 2018 The Department of Water and Sanitation (DWS) and the Minerals Council South Africa (MCSA) have reached a significant milestone in a collaborative exercise on water conservation and water demand management aimed at driving water savings and usage improvements in the mining industry. The... 

Minerals Council, water dept collaborate on water conservation, demand management project

BHP awards contract at newly approved South Flank

By: Esmarie Swanepoel     15th June 2018 Mining major BHP has awarded a A$260-million mining infrastructure works contract to ASX-listed Cimic, at the newly approved South Flank project, in Western Australia. BHP overnight approved the $3.4-billion South Flank project, which will replace production from the 80-million tonne a year... 

Imports challenge for pumps manufacturing, foundry industry

By: Erin Steenhoff-Snethlage     15th June 2018 One of the biggest challenges for local foundries and pumps manufacturers is competition from imported products, says Kimberley-based metal castings specialist KEW Foundries. “I would say about 70% to 80% of the pumps used in South Africa are imported,” KEW Foundries operations director Jaime... 

Imports challenge for pumps manufacturing, foundry industry
Photo by Bloomberg
IN TANDEM The local pumps manufacturing industry relies on the continued operation and growth of foundries in South Africa

Virtual reality blast wall, cube providing ‘memorable’ training

By: Nadine James     15th June 2018 Virtual reality (VR) solutions provider Simulated Training Solution’s (STS’s) world-first VR blast wall and its VR cube have resulted in efficient, effective and memorable training programmes for Anglo American Platinum’s Engineering Services Training Centre (ESTC) in Randfontein, and Murray and... 

Virtual reality blast wall, cube providing ‘memorable’ training
VIRTUAL BLAST WALL The VR blast wall was designed and developed by STS in 2015 on request of Sasol Nitrate and Glencore

Illegal mining worth R7bn a year – PwC

By: Martin Creamer     14th June 2018 The value of illegal mining and dealing of metals and diamonds in South Africa is estimated to be more than R7-billion a year, says PwC. In its latest edition of SA Mine, the professional services firm equates this to revenue generated from 430 000 oz of gold at the current market price. 

Illegal mining worth R7bn a year – PwC
Photo by Dylan Slater
Informal processing of sand from a depleted mine dump off the N3 South freeway, near Elandsfontein, in Germiston

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