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Ferrous Metals News

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

BHP says Port Hedland stockpile insufficient to cover for derailment

By: Esmarie Iannucci     7th November 2018 Mining giant BHP has warned that iron-ore stockpile reserves at Port Hedland will not be sufficient to cover the entire period of interruption to its rail operations, following an intentional train derailment earlier this week. The miner will be liaising with customers in relation to its... 

BHP says Port Hedland stockpile insufficient to cover for derailment

Runaway iron-ore train derailment will take BHP a week to solve

By: Bloomberg     6th November 2018 BHP Billiton expects to take about a week to recover from the derailment of one of its iron-ore trains that’s halted its rail operations in Western Australia, potentially bolstering prices of the steelmaking raw material. The company was forced Monday to derail the train that traveled 92 km... 

China demand for Vale ore to keep price above $90/t in 2019 -CFO

By: Reuters     2nd November 2018 Chinese demand for top-quality iron-ore from Brazilian miner Vale should stay strong despite trade tensions with the United States, helping the world's top iron-ore producer keep its prices above $90/t in 2019, an executive said. CFO Luciano Siani said the Chinese demand would also support... 

China demand for Vale ore to keep price above $90/t in 2019 -CFO

Volvo launches 95 t rigid hauler for coal, bulk commodities sectors

By: Schalk Burger     2nd November 2018 Earthmoving equipment manufacturer Volvo Construction Equipment launched a new 95 t rigid hauler for the coal and bulk commodities industries in Southern Africa. Its local partner, construction equipment company Babcock Equipment, will provide the support and services for the machines, says Volvo... 

Volvo launches 95 t rigid hauler for coal,  bulk commodities sectors
VOLVO 95 T RIGID HAULER The hauler has an array of sensors and systems to ensure safety, ease of use and productivity

Afrimat prospers in H1, despite tough economic environment

By: Simone Liedtke     1st November 2018 Openpit mining company Afrimat on Thursday posted a 4.3% year-on-year improvement in operating profit to R202.7-million for the six months ended August 31, while revenue increased by 28.6% year-on-year to R1.5-billion. These positive results, CEO Andries van Heerden said at a media breakfast,... 

India considering ordinance to resume Goa iron-ore mining

By: Ajoy K Das     30th October 2018 With national elections barely a year away and pressures mounting from the ground up, India’s federal government is considering bringing in an ordinance to resume iron-ore mining in the western coastal state of Goa. Sources say that local government is concerned over the impact of the closure of... 

Rio Tinto says $1.3bn Simandou sale lapses 

By: Esmarie Iannucci     29th October 2018 Diversified miner Rio Tinto on Monday reported that the 2016 non-binding heads of agreement with Chinalco over the sale of its interest in the Simandou iron-ore project, in Guinea, had lapsed. Under the initial agreement, Rio would have received between $1.1-bilion and $1.3-billion for its 45.05... 

DMR gives the green light for Afarak’s Zeerust chrome mine

By: Marleny Arnoldi     26th October 2018 Aim-listed Afarak Group has been granted a Section 11 approval for its Zeerust chrome mine, by the Department of Mineral Resources (DMR), and preparations are under way to start operations during the fourth quarter. The Section 11 approval allows Afarak to start mining and to secure an... 

Hatches Creek sale stalls

By: Esmarie Iannucci     26th October 2018 ASX-listed Tungsten Mining and fellow listed GWR Group have encountered difficulties with the sale of the Hatches Creek tungsten project, in the Northern Territory. The two companies in September struck an agreement under which Tungsten Mining would acquire the project for A$8.68-million. 

Volvo launches new 95 t rigid hauler for coal, bulk commodities industries

By: Schalk Burger     26th October 2018 Earthmoving equipment manufacturer Volvo Construction Equipment on Thursday launched a new 95 t rigid hauler for the coal and bulk commodities industries in Southern Africa. Its local partner, construction equipment company Babcock Equipment, would provide the support and services for the... 

Volvo launches new 95 t rigid hauler for coal, bulk commodities industries
Volvo R100E 95 t rigid hauler

Rio Tinto and partners to invest $1.5bn in Pilbara

26th October 2018 Diversified mining company Rio Tinto and its Pilbara joint venture (JV) partners Japanese group Mitsui and steel producer Nippon Steel & Sumitomo Metal have approved a $1.55-billion investment to sustain production capacity at two iron-ore projects that form part of the Robe River JV, in Western... 

Rio Tinto and  partners to invest $1.5bn in Pilbara
WEST ANGELAS Rio Tinto is investing $307-million in developing Deposits C and D at the existing West Angelas opencast iron-ore operation

Some aspects of new Mining Charter ‘still need to be explained’

By: Nadine James     26th October 2018 The gazetting of South African Mining Charter 3, while welcomed as a step forward in creating certainty in the industry, has left gaps regarding its interpretation and its affects on mining communities, says black economic-empowerment advisory firm NPI Governance Consulting founder and CEO Israel... 

Some aspects of new Mining Charter ‘still need to be explained’
ISRAEL NOKO It will take some time for municipalities and tribal authorities to know and understand what role they would be playing according to the new charte

South32 foresees short-term volatility, but long-term growth, sustainability 

By: Schalk Burger     25th October 2018 Diversified mining and metals company South32 on Thursday forecast short-term price volatility for the commodities it produces, but also highlighted its strong cash position and its work to further optimise its global portfolio of assets. In a speech delivered at the company’s 2018 annual general... 

Strong interest received for South32’s South African energy coal assets 

By: Esmarie Iannucci     25th October 2018 Diversified miner South32 has received nearly 40 expressions of interest for its energy coal assets in South Africa. Speaking on the sidelines of the company’s annual general meeting, South32 CEO Graham Kerr told Mining Weekly Online that, while the talks thus far have been confidential, the... 

Strong interest received for South32’s South African energy coal assets
Photo by Bloomberg
South32 CEO Graham Kerr

Vale reports Q3 miss on forex, base metals

By: Reuters     25th October 2018 Brazil's Vale on Wednesday posted weaker-than-expected net income, as a weaker currency coupled with lower base metals production and prices weighed on the world's largest iron ore producer. The miner, also the world's largest nickel producer, reported $1.408-billion in third-quarter net income,... 

Atlas Sept quarter iron-ore shipments down 10%

By: Esmarie Iannucci     25th October 2018 Iron-ore miner Atlas Iron has reported another tough quarter in the three months to September, with iron-ore shipments declining from the 2.1-million tonnes in the June quarter, to 1.9-million tonnes. Atlas in late July this year suspended crushing activities at its Mt Dove operation, in the... 

Fortescue high-grade shipments to start in December

By: Esmarie Iannucci     25th October 2018 Iron-ore major Fortescue Metals’ optimised product strategy has delivered results in the three months to September, with the miner reporting higher average realised prices for its product. The company, which has been hit by a shift from Chinese steel mills’ to higher grade iron-ore., on Thursday... 

Fortescue high-grade shipments to start in December
Fortescue CEO Elizabeth Gaines

Mount Gibson lifts iron-ore sales in Sept quarter

By: Esmarie Iannucci     24th October 2018 Junior iron-ore miner Mount Gibson has reported an increase in iron-ore sales for the quarter ended September, with sales revenue increasing by some A$20-million over the previous quarter. Quarterly sales for the three months to September reached 1.1-million tonnes, compared with the 963 000 t... 

Anglo’s portfolio performs well in Q3  

By: Nadine James     23rd October 2018 Diversified miner Anglo American’s focus on driving efficiency and productivity across the business resulted in another strong quarter, with volumes for the third quarter 1% higher year-on-year, Anglo CE Mark Cutifani commented on Tuesday. “Production per employee has increased by 5% [so far this... 

Anglo’s portfolio performs well in Q3
Photo by Bloomberg
Anglo American CE Mark Cutifani

Brazilian pension fund Previ won't sell Vale shares before year end

By: Reuters     23rd October 2018 Brazilian pension fund Previ, one of iron ore miner Vale SA's largest shareholders, will not sell part of its stake before the year ends, its CEO said on Monday. Speaking on the sidelines of a conference in Rio de Janeiro, CEO Jose Mauricio Coelho said the fund intended to reduce its stake in... 

Kumba on track to meet FY18 guidance 

By: Nadine James     23rd October 2018 Although rail constraints resulted in a reduction in export sales for Kumba Iron Ore during the third quarter ended September 30, the Anglo American subsidiary remains on track to meet its full-year guidance of producing between 43-million and 44-million tonnes of iron-ore. The iron-ore miner on... 

Kumba on track to meet FY18 guidance
Photo by Nadine James
Sishen mine

How strong steel might kill off the next big battery metal story

By: Bloomberg     23rd October 2018 Vanadium’s astonishing rally is threatening its chances of being the next big battery metal. Prices have surged more than 800% in about two years, driven by Chinese demand for stronger steel. There’s also been speculation that vanadium will become a key metal for the battery industry. But with... 

MinRes buys BCI’s Kumina deposit, rules out interest in entire BCI portfolio

By: Esmarie Iannucci     22nd October 2018 Resource developer BCI Minerals has struck a A$35-million deal with fellow-listed Mineral Resources (MinRes) to divest of its Kumina iron-ore project, in the Pilbara. Under the terms of the agreement, MinRes will acquire the project for an initial A$27-million, with a further A$4-million payable... 

'You can run but you can't hide,' Cleveland-Cliffs CEO tells analyst

By: Bloomberg     19th October 2018 Cleveland-Cliffs CEO Lourenco Goncalves isn’t a fan of the Goldman Sachs Group analyst who covers his company. As shares of the largest US iron-ore producer fell as much as 10% Friday, Goncalves closed his analyst call by specifically calling out Goldman’s Matthew Korn. The CEO questioned Korn... 

Merafe Resources says output from joint venture with Glencore up 20%

By: African News Agency      19th October 2018 Mining company Merafe Resources said on Friday its ferrochrome production from the Glencore Merafe Chrome Venture for the third quarter ended 30 September 2018 increased by 20% to 84 000 t compared with the same period in 2017. Merafe said the increase was as a result of less planned maintenance... 

SRK Ghana expanding into other West African markets

By: Nadine James     19th October 2018 As the economic mood in the global mining industry turns towards the better, SRK Consulting’s Accra office, in Ghana, has been making inroads into new markets in Côte d’Ivoire and Togo, SRK Ghana country manager John Kwofie noted in a release last week. He believes that there is potential for... 

SRK Ghana expanding into other West African markets
JOHN KWOFIE The Ghana office is a springboard to other countries in the region

Amid falling platinum prices, PGM miners upping chrome ore production to improve profitability

By: Nadine James     19th October 2018 Some platinum group metals (PGM) producers have become large producers of chrome ore to improve their profitability, says Kagiso Asset Management investment analyst Mandi Dungwa. South Africa is the world’s largest chrome producer, delivering more than half of the global ore supply in 2017, with... 

Amid falling platinum prices, PGM miners upping  chrome ore production to improve profitability

August mining production down 9.1% y/y

By: Creamer Media Reporter      18th October 2018 South Africa’s mining production decreased by 9.1% year-on-year in August, Statistics South Africa reported on Thursday. The decrease was driven by lower output in the iron-ore, gold and platinum group metals (PGMs) sectors. 

Synfuels, manganese production train and Morila mine make headlines  

18th October 2018 This week Mining Weekly editor Martin Creamer unpacks South Africa’s synfuels know-how, Transnet’s manganese production train and Morila mine’s agribusiness conversion. 

Synfuels, manganese production train and Morila mine make headlines
Synfuels, manganese production train and Morila mine make headlines

Euro Manganese reveals site of Czech manganese process plant

By: Creamer Media Reporter      18th October 2018 Canadian junior Euro Manganese (EMM) has secured the right to a parcel of industrial zoned land adjacent to the Chvaletice manganese tailings project, where the company plans to build its high-purity manganese processing facility. The 19.94 ha land will be acquired through EP Chvaletice (EPCS),... 

Jubilee reports solid Q3 performance, growing demand

By: Simone Liedtke     17th October 2018 AltX- and Aim-listed Jubilee Metals has seen a growing demand from both small and global mining companies wanting to work with Jubilee to access the metals available in mine waste, CEO Leon Coetzer said on Wednesday. This statement comes amid the diversified metals recovery company having... 

Gulf cornerstone investor pulls out over mining moratorium risk

By: Esmarie Iannucci     17th October 2018 Manganese ore and alloy developer Gulf Manganese has lost a cornerstone investor in the midst of uncertainty around a moratorium on all mining activities in East Nusa Tenggara, Indonesia. Gulf Manganese in August this year announced a A$10.8-million investment from Indonesian businessman Bapak... 

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