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Ferrous Metals News

CoM sees resurgence in hope, green shoots in South African mining industry

By: Mia Breytenbach     5th February 2018 There is new sense of hope in the mining industry and in South Africa, says Chamber of Mines (CoM) CEO Roger Baxter. “It gives us a new confidence that a resurgence is taking place in the industry for the year ahead,” said Baxter, who spoke at a media briefing at the Investing in African Mining... 

Mitsui boosts profit forecast on higher iron-ore, coal prices

By: Reuters     2nd February 2018 Japanese trading company Mitsui & Co on Friday said its April-December profits jumped over 60% from the year before and raised its full-year forecast to record levels, boosted by higher prices for iron ore and coking coal. Mitsui is now forecasting a net profit of 440-billion yen, up from its... 

Goldman's most bullish on commodities since supercycle ended

By: Bloomberg     2nd February 2018 Goldman Sachs Group is more bullish on commodities than any time since the end of the supercycle in 2008. As economies around the world pick up, factories are humming, eating into stockpiles of raw materials and driving demand at miners and oil producers already facing limits on output. Copper,... 

Chile miner CAP doubles earnings in 2017, shares rise

By: Reuters     1st February 2018 Chile iron-ore and steel producer CAP more than doubled its earnings in 2017 over the previous year, the company said in a year-end earnings report on Thursday, boosted by rising iron prices even as its total exports of the metal dropped. CAP reported profits of $130.3-million in 2017, more than... 

Analysts okay Glencore’s 2017 production downs

By: Martin Creamer     1st February 2018 Analysts on Thursday okayed last year’s production performance of diversified mining and marketing company Glencore, which on Thursday reported lower 2017 production for many commodities owing to the impact of disposals, maintenance work and weather. Barclays analysts Amos Fletcher, Ian Rossouw... 

Analysts okay Glencore’s 2017 production downs
Koniambo nickel mine, New Caledonia, where full-year production was 29% up

Tharisa forecasts looming chrome ore deficit, details Vision 2020 

     1st February 2018 Tharisa Minerals this week forecast a chrome ore deficit and detailed its plans to boost PGM and chrome output. Mining Weekly editor Martin Creamer speaks to Creamer Media's Sashnee Moodley about the developments. 

Tharisa forecasts looming chrome ore deficit, details Vision 2020
Tharisa forecasts looming chrome ore deficit, details Vision 2020

Beowulf maintains Kallak mine and reindeer herding can co-exist

By: Mariaan Webb     1st February 2018 The UK-based mineral exploration and development seeking to build a magnetite iron-ore mine on the ancestral lands of the indigenous Sami people in northern Sweden has been dealt a blow, after the County Administrative Board (CAB) for Norrbotten recommended against an exploitation licence for the... 

Beowulf maintains Kallak mine and reindeer herding can co-exist
Drilling at the Kallak deposit in northern Sweden.

Tharisa entering multi-project PGM-chrome growth phase

By: Martin Creamer     31st January 2018 Platinum group metals (PGMs) and chrome co-producer Tharisa Minerals, which predicts that a global chrome ore deficit is on the horizon, has published details of its strategic Vision 2020 growth thrust. “Tharisa is entering an exciting growth phase,” CEO Phoevos Pouroulis said in the release to... 

Tharisa entering multi-project PGM-chrome growth phase
Photo by Duane Daws
Tharisa Mine this week.

AMSA weighs asset disposals as losses mount, debt rises and rand strengthens 

By: Terence Creamer     31st January 2018 ArcelorMittal South Africa (AMSA) is considering various asset disposals as part of a plan to strengthen its balance sheet, which remains under pressure as a result of a protracted period of lossmaking, which has endured since 2010. The JSE-listed steelmaker declared another headline loss of... 

AMSA weighs asset disposals as losses mount, debt rises and rand strengthens
New AMSA CEO Kobus Verster on the immediate outlook for the group and initiatives under way to improve prospects for a return to profitability. Camera Work & Editing: Nicholas Boyd. Recorded: 31.1.2018

New R230m chrome tailings plant launched

By: Martin Creamer     31st January 2018 South African mine-to-market chrome producer ChromTech Holdings said on Wednesday that it had completed a R230-million chrome tailings retreatment plant at Lonmin, where the plant forms part of the platinum-mining company’s bulk retreatment of upper group two tailings initiative, which is... 

New R230m chrome tailings plant launched
Thakadu Resources' Ruli Diseko and CromTech Holdings' Craig Bennett

Vale diversifies away from iron-ore despite strong China demand – CEO

By: Reuters     30th January 2018 Continued Chinese efforts to reduce pollution will boost demand for Vale's high quality iron-ore, the Brazilian miner's chief executive said on Tuesday, even as the world's top iron-ore producer seeks to diversify away from the metal. China's aggressive campaign to clean its skies by clamping... 

Chrome ore supply deficit ahead – Tharisa

By: Martin Creamer     30th January 2018 Platinum-group metals (PGMs) and chrome coproducer Tharisa Minerals CEO Phoevos Pouroulis is predicting a shortage of chrome ore supply in the short to medium term, driven by burgeoning stainless steel demand. Chrome ore is fundamental to the manufacture of stainless steel, demand for which is... 

Chrome ore supply deficit ahead – Tharisa
Photo by Duane Daws
Tharisa Minerals CEO Phoevos Pouroulis

Dalian iron-ore near 1-month low, limited impact from icy weather

By: Reuters     30th January 2018 Chinese iron-ore futures ticked higher, but kept near one-month lows on Tuesday, as ample supply of the steelmaking raw material countered transport disruptions caused by heavy snow in the country. Rebar steel prices slipped, touching their lowest in nearly a week at one point. 

BCI progressing diversified portfolio

By: Schalk Burger     30th January 2018 Junior miner BCI Minerals continues to focus on advancing existing projects and remaining debt-free, the company said on Tuesday in its quarterly report to the end of December. BCI’s cash balance was A$18.9-million at the end of December, down A$4.7-million compared with the quarter to the end of... 

Fortescue C1 costs fall to record low of $12/wmt

By: Mariaan Webb     30th January 2018 Iron-ore producer Fortescue Metals has lowered its cash production costs (C1) to a record low of $12.08 a wet metric tonne (wmt). The C1 compares with $12.15/wmt in the first quarter of the 2018 financial year and $12.54/wmt in the corresponding period of 2017, Australia’s third-largest... 

Atlas reduces debt, progresses diversification plans

By: Megan van Wyngaardt     29th January 2018 Iron-ore producer Atlas Iron has repaid a further A$20-million of its debt, as the ASX-listed company continues its strategy of repositioning the business by reducing debt, growing its iron-ore business through the Utah Point and diversifying beyond iron-ore. Atlas reported on Monday that the... 

Indian iron-ore benchmark price proves elusive even as clamour mounts to check rising prices

By: Ajoy K Das     29th January 2018 Even as clamour mounts among various segments of India’s steel industry over a shortage of iron-ore availability and the high prices of domestic raw material, evolving an acceptable benchmark price model for iron-ore is proving elusive for the government. Various steel producers, including blast... 

Anglo American wins two licences to expand in Brazil

By: Reuters     26th January 2018 Anglo American on Friday clinched two long-awaited environmental licenses that pave the way for the global mining company to expand its Minas-Rio iron-ore mine in the Brazilian state of Minas Gerais. Minas Gerais environmental regulator Semad granted a pre-installation and installation permit to... 

Tharisa's Pouroulis meets Zimbabwe leader, seeks opportunities

By: Bloomberg     26th January 2018 Tharisa CEO Phoevos Pouroulis met Zimbabwe’s new President Emmerson Mnangagwa on January 18, as the Cyprus-based platinum and chrome mining company seeks opportunities in the country with the world’s second-biggest reserves of the metals. Pouroulis was accompanied to the meeting in Mnangagwa’s... 

SA mining will perform relatively well – DMR

By: Nadine James     26th January 2018 Improving commodity prices and upward trends in global demand, especially from major South African trading partners, are expected to reinvigorate the mining industry, enabling it to perform relatively well throughout 2018, the Department of Mineral Resources (DMR) states. The DMR notes that with... 

Water lab services in demand

By: Nadine James     26th January 2018 Isando-based analytical laboratory Set Point Laboratories – a subsidiary of industrial group Torre Industries – has seen an increased number of enquiries and work for its water laboratory division over the past 12 months, says Set Point senior analyst Moses Lelaka. The increased demand for the... 

Water lab services in demand
MOSES LELAKA Set Point analysts test the water monthly at one of its Gauteng-based mining clients

Civil engineering solutions provider secures new contracts

     26th January 2018 Civil engineering solutions provider Concor Infrastructure, formerly known as Murray & Roberts Infrastructure, is well positioned to take advantage of the recent increase in optimism in the mining space, with company representatives poised to attend the 2018 Investing in African Mining Indaba in... 

Civil engineering solutions provider secures new contracts
ERIC WISSE Concor Infrastructure secured the contract for the earthworks and civils for the box cut at Ivanhoe Mines’ Platreef mine

Exhibitor cautiously optimistic about 2018

By: Nadine James     26th January 2018 Analytical services provider African Mineral Standards (AMIS) – a subsidiary of JSE-listed industrial group Torre Industries – is a producer of mineral certified reference materials (CRMs) and has a core focus on analytical services related to mining and exploration, which they will exhibit at... 

Exhibitor cautiously optimistic about 2018
SIGNED, SEALED, DELIVERED AMIS’ offering of certified reference materials can be used for analytical method validation, calibration of analytical equipment and in procedural quality control programs in assay laboratories

Group aims to increase brand awareness at Mining Indaba

By: Nadine James     26th January 2018 South African industrial group Torre Industries is exhibiting at the 2018 Investing In African Mining Indaba with the aim of increasing the group’s brand awareness among local and international mining industry players. The JSE-listed group has nine business units across three segments: parts and... 

Group aims to increase brand awareness at  Mining Indaba
JON HILLARY There are numerous growth opportunities within the existing business units as well as in peripheral businesses around Torre’s current subsidiaries

Major mining software previewed at Indaba

By: Nadine James     26th January 2018 Mining software company MICROMINE will provide previews of its major product releases – Geobank 2018 and Micromine 2018 – at the Investing in African Mining Indaba, which will take place at the Cape Town International Convention Centre from February 5 to 8. The company will showcase its entire... 

Major mining software previewed at Indaba
PITRAM SOFTWARE Micromine launched a new version of Pitram in October 2017

Corporation to strengthen partnerships at Indaba

By: Marleny Arnoldi     26th January 2018 State-owned financial services provider Export Credit Insurance Corporation (ECIC) is keen to deepen partnerships with South African exporters who offer their capital goods and services in international and emerging markets, including in Africa.  

Corporation to strengthen partnerships at Indaba
PAUL MOJALEFA PAUL MOJALEFA The Export Credit Insurance Corporation will exhibit to further promote and position its brand in the mining sector

Upgraded condition monitoring app launched

By: Nadine James     26th January 2018 Condition monitoring specialists WearCheck launched an updated version of their condition-monitoring application (app) last month. The app was first launched mid-2017. The app provides WearCheck customers with instantaneous mobile access to their condition-monitoring data – which provides... 

Upgraded condition monitoring app launched
NEIL ROBINSON The app is free of charge, data is highly secure and the login process uses the same password credentials as the WearCheck online system

Blasting company returns to Mining Indaba

     26th January 2018 Blasting products and solutions provider Maxam Terra Solutions will return to the Investing in African Mining Indaba, where it will exhibit its range of explosives products at the International Cape Town Convention Centre from February 5 to 8. Maxam, originally founded in 1872, as one of... 

Blasting company returns to Mining Indaba
TAILORED COMMERCIAL EXPLOSIVES SERVICES Maxam offers a comprehensive range of measurement capability and solutions to assist customers in reducing their total cost of ownership and overall risk

Mining Indaba to provide ‘first-hand experience’ of return of investor appetite

By: Nadine James     26th January 2018 With commodity prices improving and the mining industry moving towards positive growth, indications are that participants at the Investing in African Mining Indaba 2018 will experience the “return of investor appetite” first hand, says Mining Indaba MD Alex Grose.  This renewed investor interest... 

Mining Indaba to provide ‘first-hand experience’ of return of investor appetite

Consultancy to partner with black entrants as they acquire Tier 1 coal assets 

By: Martin Creamer     26th January 2018 Project delivery and engineering consultancy WorleyParsons RSA is once again answering the call for transformation and broader economic participation of previously disadvantaged South Africans. The company’s latest initiative is black entrepreneur development in coal, which will be its key focus... 

Consultancy to partner with black entrants  as they acquire  Tier 1 coal assets
WorleyParsons RSA CEO Denver Dreyer discusses Mining Indaba plans with Mining Weekly’s Martin Creamer.

Cliffs delivers second consecutive year of +25% Ebitda growth

By: Henry Lazenby     25th January 2018 US iron-ore company Cleveland-Cliffs has delivered on promises to aggressively drive up growth in its earnings before interest, tax, depreciation and amortisation (Ebitda) metric, reporting growth greater than 25% for the second consecutive year. Based in Cleveland, Ohio, the company reported... 

Kumba’s FY17 iron-ore output up 8% y/y 

By: Creamer Media Reporter      25th January 2018 Kumba Iron Ore produced 44.98-million tonnes of iron-ore in 2017, exceeding guidance. Production was also 8% higher than the 41.48-million tonnes produced in 2016. 

Côte d'Ivoire mining sector turnover rose 11.5% in 2017

By: Reuters     25th January 2018 Côte d'Ivoire's mining sector turnover rose by 11.5% in 2017, an increase achieved mainly via exports of gold, manganese and nickel, the government spokesman said on Wednesday. "The mining sector announced a sales revenue of 539-billion CFA francs ($1.02-billion) in 2017, compared to 483-billion... 

Chinese steel mills win domestic iron-ore pricing in some 2018 contracts

By: Reuters     25th January 2018 Chinese steelmakers have succeeded in a push to include domestic iron-ore price indices in some 2018 annual supply contracts with global miners, four industry sources said, as the world's top buyer boosts its clout over pricing of major commodities. The move marks a major step in the evolution... 

ArcelorMittal to spend C$70m to upgrade Quebec-based Contrecoeur mill

By: Henry Lazenby     24th January 2018 Multinational steel producer ArcelorMittal will spend C$70-million to 2020 to upgrade its Contrecoeur steel mill, in Quebec. The upgrade plans include expanding rolling capacity by 100 000 t/y by replacing two reheating furnaces at its Contrecoeur-East wire rod mill for about C$30-million, and... 

Goldman, Citi final bidders for Scotiabank's metals business – sources

By: Reuters     24th January 2018 The field of prospective bidders for ScotiaMocatta, the metals trading arm of Canada's Bank of Nova Scotia, has narrowed to two, three banking and industry sources said on Wednesday. The two - Goldman Sachs Group and Citi - are undertaking due diligence checks, the sources said. 

Anglo American expects to get licences to expand in Brazil

By: Reuters     24th January 2018 Anglo American said on Tuesday it expects to receive long-awaited licences on Friday which will pave the way for the mining company to boost its Brazilian iron ore production capacity by about 56%. Anglo American plans to invest 1-billion reais ($308.94-million) to expand its iron ore extraction... 

NMDC seeks fresh mining lease in Odisha to up iron-ore production

By: Ajoy K Das     24th January 2018 India’s largest iron-ore miner, government-owned NMDC, has sought new mining leases from Odisha to help it produce 45-million tons in 2018/19, up from the expected 35-million tons by the end of March 31 this year. NMDC has proposed that the Odisha government issue it new mining leases from among... 

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