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Ferrous Metals News

Tanzania targets setting up mineral exchange by end of 2018

By: Bloomberg     26th July 2018 Tanzania plans to establish a minerals exchange by the end of this year, in a bid to ensure the East African nation reaps the most from its resources, Minerals Minister Angellah Kairuki said. The nation’s resources including gold, diamonds, iron, silver, copper, graphite and other rare earth... 

Zimbabwe's African Chrome Fields eyes equity sale to fund expansion

By: Reuters     26th July 2018 Zimbabwe's largest chrome miner African Chrome Fields (ACF) is talking to foreign investors about an equity sale to help fund expansion but will ensure the firm's two main partners retain control, the majority shareholder said on Wednesday. The chairman of Moti Group, which has a majority stake... 

Fortescue has its best quarter with 46.5Mt shipped

By: Esmarie Iannucci     26th July 2018 Iron-ore major Fortescue Metals has reported record iron-ore shipments of 46.5-million during the three months to June. “It was a strong finish to 2018 with the team delivering record shipments of 46.5-million tonnes in the quarter to achieve our target of 170-million tonnes for the full year.... 

Fortescue has its best quarter with 46.5Mt shipped

Innovation ‘coming out of the lab, into the field’ – Anglo

By: Martin Creamer     26th July 2018 The comprehensive technology and innovation programme being intensively conducted by diversified mining major Anglo American is coming “out of the lab and into the field”, the company told Mining Weekly Online on Thursday, when it reported continued performance improvement in the six months to... 

Innovation ‘coming out of the lab, into the field’ – Anglo
Photo by Creamer Media
Anglo American CE Mark Cutifani

Huge developments for Amplats, AngloGold, Kumba 

26th July 2018 Amplats is taking steps to reverse what it calls unjustified investor bearishness, AngloGold Ashanti is getting a new CEO and Kumba Iron-Ore is receiving strong premiums for high-grade ore. Mining Weekly Editor Martin Creamer unpacks the headlines. 

Huge developments for Amplats, AngloGold, Kumba
Huge developments for Amplats, AngloGold, Kumba

Vale posts rise in second-quarter profit

By: Reuters     25th July 2018 Brazil's Vale SA, the world's largest iron ore producer, posted a rise in second-quarter net income, results showed on Wednesday. The miner said profit in the second quarter rose to 306-million reais ($82.96-million) from 60-million reais in the same period a year earlier. However, the figure... 

Kumba ‘very bullish’ on exploration prospects 

By: Martin Creamer     25th July 2018 Iron-ore mining and marketing company Kumba Iron Ore is bullish about its R664-million exploration programme, that has funded more than 200 000 m of drilling. "We’re very bullish and very excited,” Kumba Iron Ore technical and projects head Glen Mc Gavigan commented to Mining Weekly Online during... 

Kumba ‘very bullish’ on exploration prospects
Kumba Iron Ore CE Themba Mkhwanazi responds to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer

Transnet signs manganese capacity allocation contract with Assmang

By: Anine Kilian     25th July 2018 State-owned Transnet has signed a seven-and-a-half-year Manganese Export Capacity Allocation (MECA2) contract with Assmang as part of its strategy to secure 95% of manganese volumes on rail. The contract, which will see the transportation of export manganese from pit to port, offers Assmang, the... 

BHP turns first sod at $3.4bn Pilbara mine

By: Esmarie Iannucci     25th July 2018 Mining major BHP has turned the first sod at its $3.4-billion South Flank project, in the Pilbara. The South Flank operation will leverage and expand on the existing Mining Area C hub, and is BHP's preferred option to replace the 80-million-tonne-a-year Yandi mine, which will reach the end of... 

Premium prices being paid for Kumba’s quality iron-ore 

By: Martin Creamer     24th July 2018 China’s flight to quality iron-ore is benefiting South Africa’s Kumba Iron Ore, which is receiving strong price premiums for high-grade ore.  Two thirds of Kumba ore is lump ore compared with the third or less of its main competitors. 

Premium prices being paid for Kumba’s quality iron-ore
Kumba Iron Ore CE Themba Mkhwanazi’s presentation covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer 24/7/2018

Cleveland-Cliffs emerges victorious in Minnesota land dispute

By: Mariaan Webb     24th July 2018 Iron-ore miner Cleveland-Cliffs has emerged victorious in a land dispute about iron-ore holdings that it acquired from Glacier Park Iron Ore Properties (GIOP) in Minnesota, sending the company’s stock up 9%. Cleveland-Cliffs announced on Monday that the United States Bankruptcy Court for the... 

Logistics-hit but resilient Kumba declares dividend from cash pile

By: Martin Creamer     24th July 2018 Iron-ore mining and marketing company Kumba Iron Ore on Tuesday reported a resilient financial performance despite logistics and export market conditions that resulted in 24% earnings fall to R7-billion compared with the first six months of last year. Attributable free cash flow of R2.8-billion... 

Logistics-hit but resilient Kumba declares dividend from cash pile
Photo by Creamer Media
Kumba Iron Ore CE Themba Mkhwanazi

Keras Resources to undertake $1.5m test programme at Togo project

By: Anine Kilian     23rd July 2018 Aim-listed Keras Resources has been granted permission to undertake a $1.5-million bulk sampling metallurgical test work programme at its Nayega manganese project, in northern Togo. The company on Monday said this included the processing of 10 000 t of beneficiated manganese ore by a major... 

Cleveland-Cliffs delivers 171% y-o-y increase in earnings a share

By: Marleny Arnoldi     20th July 2018 NYSE-listed Cleveland-Cliffs has increased its earnings a share from continuing operations by 171% to $0.76 apiece for the quarter ended June 30, compared with $0.28 apiece in the second quarter of 2017. The company on Friday reported consolidated revenues of $714-million, compared to the prior... 

Commodity price volatility will prevail as long as trade war threats prevail – BMI

By: Marleny Arnoldi     20th July 2018 Research firm BMI says most commodity prices will remain neutral on a three-month horizon, with the exception of oil prices which it expects to increase. Commodity prices performed poorly over June and July, but BMI believes the downside is limited for now as the drop in sentiment overshot... 

Mount Gibson stays steady

By: Esmarie Iannucci     20th July 2018 Junior miner Mount Gibson has reported another steady quarter of iron sales during the June quarter, with one-million tonnes sold for revenues of A$45-million. “It was pleasing to complete the financial year with another solid operational effort in the Mid West and excellent progress at our... 

AngloGold chairperson warns South Africa on 'reckless' mining rules

By: Bloomberg     20th July 2018 South Africa risks driving away new investment and crippling its mining sector if “reckless” new rules are implemented, according to AngloGold Ashanti chairperson Sipho Pityana. The latest Mining Charter, which is aimed at sharing the benefits of the country’s mineral wealth more equally among... 

AngloGold chairperson warns South Africa on 'reckless' mining rules
Photo by Creamer Media
AngloGold chairperson Sipho Pityana

Sedibeng Iron Ore DMS plant to feature industry 4.0 technologies

By: Nadine James     20th July 2018 ELB Engineering Services is excited to be involved in the construction and digitalisation of the 200 t/h dense media separation (DMS) plant at Sedibeng Iron Ore, near Postmasburg in the Northern Cape, says CEO, Dr Stephen Meijers. Meijers explains that the project aims to incorporate Industry 4.0... 

Sedibeng Iron Ore DMS plant to feature industry 4.0 technologies
Photo by Creamer Media
STEPHEN MEIJERS The Sedibeng digitalisation project is split into three phases, ELB is currently progressing through Phase 1

Lawyer not ‘distressed’ by possibility of Mining Charter being finalised in October

By: Nadine James     20th July 2018 The successful two-day Mining Summit – proposed by Minerals Resources Minister Gwede Mantashe previously – provided a platform for stakeholders to voice their concerns during, substantive discussions on nearly all aspects of the revised Mining Charter, says Hogan Lovells partner and mining head... 

Lawyer not ‘distressed’ by possibility of Mining Charter  being finalised in October
Photo by Creamer Media
WARREN BEECH The summit, and what has resulted from it, has resulted in a different, more positive, scenario

Indian iron-ore exports shifting from fines to pellets

By: Ajoy K Das     19th July 2018 Indian international trade in iron-ore is shifting to more iron-ore pellets, rather than high-grade fines, prompted by changing preferences of overseas buyers. Information and data sourced from industry indicate that overseas shipment and sales realisations of iron-ore pellets are outstripping... 

Kumba lowers FY sales, production guidance

By: Marleny Arnoldi     19th July 2018 JSE-listed Kumba Iron Ore is working closely with State-owned freight utility Transnet to secure the delivery of the contractual capacity and to mitigate derailments that affected the company’s export sales in the second quarter of the year. The company’s export sales increased by only 1% to... 

Anglo reports production growth across all commodities in Q2

By: Marleny Arnoldi     19th July 2018 Global diversified miner Anglo American reported a 6% year-on-year increase in total production on a copper equivalent basis for the second quarter. Anglo CE Mark Cutifani remarked in a statement on Thursday that higher copper and metallurgical coal production reflected the company’s consistent... 

Anglo reports production growth across all commodities in Q2
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Tawana says completes demerger of 85% of shares in Cowan Lithium

By: African News Agency      18th July 2018 Australia-based mineral exploration company Tawana Resources said on Wednesday it had completed the demerger of 85% of the shares in Cowan Lithium Limited, holding the Cowan, Yallari and Mofe Creek assets. Tawana retained 15% of the total issued shares in Cowan Lithium. 

BHP beats production expectations; warns of $650m Samarco charge

By: Esmarie Iannucci     18th July 2018 Diversified giant BHP on Wednesday announced that the company had met or exceeded the production expectations for its commodities during the 2018 financial year, but warned of a $650-million financial impact related to the Samarco dam failure, in Brazil. “We have delivered a strong finish to the... 

BHP beats production expectations; warns of $650m Samarco charge
BHP CEO Andrew Mackenzie

BHP awards A$176m South Flank bulk earthworks contract

By: Esmarie Iannucci     18th July 2018 Mining services provider NRW Holdings has been awarded a A$176-million contract by mining major BHP for bulk earthworks and concrete works at the South Flank project, in the Pilbara. The South Flank operation will leverage and expand on the existing Mining Area C hub, and is BHP's preferred... 

Guinea's mining minister says there will be Simandou deal, talks go on

By: Reuters     18th July 2018 Guinea is in constant talks with Rio Tinto and Chinalco to finalise a deal on the Simandou iron ore project, its mining minister said on Tuesday, adding he was confident an agreement would be reached. Rio Tinto said in October 2016 said it had signed an outline agreement to sell its major stake... 

Iron-ore beats back bears as trade fight batters commodities

By: Bloomberg     18th July 2018 Iron-ore’s become the odd man out as a spike in global trade tensions hurts commodities, with importers in top user China scooping up cargoes to feed booming mills and the government intensifying an anti-pollution drive. That’s helped benchmark prices to stay the course. While copper in London is... 

Iron-ore beats back bears as trade fight batters commodities

New mining fund raising R750m to co-finance ancillary mine projects 

By: Martin Creamer     16th July 2018 In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12J Mining Fund is going all out to raise R750-million for co-investment in ancillary project opportunities on existing mine sites. On the list of targeted project... 

New mining fund raising R750m to co-finance ancillary mine projects
CCP 12J MD Paul Miller talks to Mining Weekly Online’s Martin Creamer on new tax incentives to boost mining investment. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

Vale notches record Q2 iron-ore, pellet output despite trucker strike

By: Reuters     16th July 2018 Brazil's Vale achieved record iron ore and pellet production for a second quarter despite a nationwide trucker strike that paralyzed Latin America's largest economy in May, the miner said in a filing on Monday. Vale, the world's top iron-ore producer, said iron ore output reached 96.755-million... 

Expert backs Hancock offer for Atlas

By: Esmarie Iannucci     16th July 2018 An independent expert has found that Hancock Prospecting’s offer for ASX-listed Atlas Iron is both fair and reasonable, with Atlas on Monday urging shareholders to accept the offer. Non-executive chairperson Eugene Davis told shareholders that the offer from Hancock was an excellent opportunity... 

Expert backs Hancock offer for Atlas

Top-grade iron-ore may spike to $100/t

By: Bloomberg     16th July 2018 High-grade iron-ore may spike to $100 a metric ton as China intensifies a clampdown on pollution by restraining industrial activity, adding further momentum to a trend that’s reshaped the global market in recent years and driven buyers in Asia’s top economy to seek out better-quality material.... 

Top-grade iron-ore may spike to $100/t

Rio Tinto autonomous train makes first delivery 280 km away 

By: Esmarie Iannucci     13th July 2018 Mining major Rio Tinto has delivered its first iron-ore delivery by autonomous train from the Tom Price mine, to the port of Cape Lambert, some 280 km away. The autonomous train consisted of three locomotives and carried about 28 000 t of ore. The train was monitored remotely by operators in... 

Joburg to host ‘safe drilling’ event this month

By: Nadine James     13th July 2018 The DrillSafe initiative will host its inaugural Drill Safe Drill Rig & Safety Innovation Forum at the Glen Hove Conference Centre, in Johannesburg, on July 20.  The forum will explore innovations in to drilling equipment and the exploration work environment, explains DrillSafe founder and Colin... 

Joburg to host ‘safe drilling’ event this month
Photo by Creamer Media
SAFETY IS PARAMOUNT Colin Rice notes that almost every accident in an exploration drilling environment is related to human error

Mintek, Unisa acquire 3D X-ray microscopy system

By: Marleny Arnoldi     12th July 2018 Minerals beneficiator Mintek and Unisa’s College of Science, Engineering and Technology have jointly acquired a three-dimensional (3D) X-ray microscopy system, which the companies will launch on July 24 at Unisa’s Florida science campus.  

Costs outweigh price of Atlas Iron’s ore

By: Esmarie Iannucci     12th July 2018 Takeover target Atlas Iron has faced another tough quarter during the three months to June, with all-in sustaining costs outweighing the price for its ore. Atlas on Thursday told shareholders that C1 cash costs for the period reached A$42/t, up from the A$41/t in the March quarter, while full... 

Costs outweigh price of Atlas Iron’s ore

BHP gains green light for long-term Pilbara expansion

By: Esmarie Iannucci     11th July 2018 The Western Australia Environmental Protection Authority has approved mining major BHP’s long-term mining plan in the Pilbara. BHP is planning to expand its iron-ore operations, with plans to more than double current production to 350-million tonnes a year, with the ultimate objective of... 

BHP gains green light for long-term Pilbara expansion

Transnet to operate inland manganese terminal

By: Marleny Arnoldi     10th July 2018 State-owned freight utility Transnet’s Port Terminals operating division has taken over operations at an inland terminal for the loading and handling of manganese at Lohatlha, in the Northern Cape.  

Finnish authority imposes fines on Koncar for failure to launch bid for Afarak

By: Marleny Arnoldi     10th July 2018 The Finnish Financial Supervisory Authority (FIN-FSA) has ordered LSE-listed Afarak Resources COO and shareholder Dr Danko Koncar to pay the base amount of a £40-million fine, as well as a supplementary amount of £10-million that has accrued from noncompliance.  

Finnish authority imposes fines on Koncar for failure to launch bid for Afarak

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