R/€ = 14.80 Change: 0.06
R/$ = 12.04 Change: 0.05
Au 1341.30 $/oz Change: 4.84
Pt 1008.50 $/oz Change: 14.88

Ferrous Metals News

Event catalyst for critical engagement

By: Robyn Wilkinson     29th September 2017 Government, labour and business need to restore mutual trust through transparent and honest engagement, with The Joburg Indaba providing an ideal platform through which to forge a way forward in this endeavour, says mining and industrial services provider Fraser Alexander business development... 

Time for mining industry to take action

     29th September 2017 In the wake of commodity prices beginning to show signs of recovery in 2016, mining companies globally have taken steps to strengthen their balance sheets, building a platform from which to take decisive action about the future, says multinational professional services provider PwC Africa energy,... 

Time for mining industry to take action
MICHAL KOTZE The mining industry has moved out of danger and some mining companies see the conditions as ripe for value accretive moves, with market differentiation their immediate goal

Offshore capital equipment markets come in handy amid ‘turmoil’ in domestic mining sector

By: Dylan Slater     29th September 2017 South African capital equipment manufacturers that are exporting, and which have survived the ongoing turmoil in the mining industry and domestic economic environment, have showed resilience and bear testament to the lifeline provided through exporting products and not relying solely on sales... 

Offshore capital equipment markets come in handy  amid ‘turmoil’ in domestic mining sector

Exxaro, Solidarity sign three-year agreement

By: Martin Creamer     28th September 2017 Mining company Exxaro and trade union Solidarity have signed a three-year collective agreement on wages and other conditions of service, Mining Weekly Online can report.  The union said on Thursday that the first year’s pay increases of 7.5% to 10% would be back dated to July 1. 

Exxaro, Solidarity sign three-year agreement
Photo by Duane Daws
Exxaro is headed by CEO Mxolisi Mgojo,

Jubilee not impacted by Hernic business rescue

By: Natasha Odendaal     28th September 2017 The business rescue of ferrochrome producer Hernic Ferrochrome has not yet impacted AltX- and Aim-listed Jubilee Platinum’s platinum and chrome operations in the North West province, Jubilee CEO Leon Coetzer assured shareholders on Thursday. Following a comprehensive assessment of financial... 

No clarity on funding drawdown for mine rehab – Joburg Indaba

By: Martin Creamer     27th September 2017 There is no clarity on the way that mining companies can draw down from their financial provision vehicles to undertake mine rehabilitation, the Joburg Indaba Breakfast heard on Wednesday during a discussion on the implications of the new National Environmental Management Act (Nema). Chaired by... 

No clarity on funding drawdown for mine rehab – Joburg Indaba
Photo by Joburg Indaba
Panellists from left to right are Pan African CEO Cobus Loots, MSA MD Ben Burnand, PwC's Dr Ferdi Linde, ENSafrica's Andries Myburgh, DMR's director of mine closure Reuben Masenya and Cenviro Solutions MD Leentie Smit

Afarak to acquire Zeerust chrome mine

By: Creamer Media Reporter      27th September 2017 LSE- and Nasdaq-listed Afarak Group will, through its South African subsidiary Afarak Mining Limted, acquire a 70% interest in Zeerust Chrome Mine (ZCM) from Afrika Mineral Trading & Investment Trust, for R20-million. The remaining 30% interest in ZCM will be allocated to workers, the community... 

NSL welcomes cornerstone investor

By: Esmarie Swanepoel     27th September 2017 Junior iron-ore produced NSL Consolidated has welcomed a A$5-million strategic equity investment by Australian financial institution First Samuel. NSL told shareholders on Wednesday that the investment would provide the company with additional working capital as the Phase 2 wet beneficiation... 

Alderon settles Newfoundland and Labrador Hydro dispute

By: Henry Lazenby     26th September 2017 Project developer Alderon Iron Ore has settled a dispute with Newfoundland and Labrador Hydro regarding a C$21-million letter of credit it posted for the construction of a new transmission line to the Labrador West area. Under the settlement, Alderon subsidiary Kami Mine Limited Partnership will... 

Integration of Gemfields realising cost benefits – Pallinghurst

By: Martin Creamer     26th September 2017 The integration of Gemfields is beginning to realise cost benefits, Pallinghurst reported on Tuesday when it reiterated its transformation into a long-life operating mining company from being a former closed-end investment vehicle. In presenting half-year results of the company on Tuesday,... 

Integration of Gemfields realising cost benefits – Pallinghurst
Photo by Duane Daws
Pallinghurst CEO Arne Frandsen

Lower metals prices weigh on materials price index – IHS

By: Henry Lazenby     23rd September 2017 The materials price index (MPI) from Global Insight by IHS Markit has slipped 0.1% last week, the first decline in four weeks, as metal markets finally began to slide, the firm advised on Friday. The strength of the last few weeks has been mainly attributable to a surge in metal prices and the... 

Zanaga upbeat on iron-ore market fundamentals

By: Anine Kilian     22nd September 2017 Although the global iron-ore market continues to demonstrate better-than-expected fundamentals from a demand perspective, particularly in relation to pricing for higher-quality products, Aim-listed Zanaga Iron Ore remains concerned about the continuing build-up in Chinese iron-ore port stocks. In... 

Hernic Ferrochrome in business rescue – Mitsubishi

By: Martin Creamer     22nd September 2017 Ferrochrome producer Hernic has been placed in business rescue, Mitsubishi Corporation said on Friday. The businessrescue of the Japanese subsidiary, Mitsubishi Corporation said in a release to Creamer Media’s Mining Weekly Online, is taking place under the Companies Act, following a... 

Arrium dividend distribution begins

By: Esmarie Swanepoel     22nd September 2017 The administrators of ASX-listed Arrium has begun distributing a first dividend of A$500-million to the creditors of the now defunct company, following the divestment of the company’s steel and mining interests. Arrium administrators said on Friday that about 5 000 unsecured creditors would... 

Tharisa transitions to owner mining, absorbs 900 contractor personnel

By: Martin Creamer     22nd September 2017 Platinum group metal (PGM) and chrome co-producer Tharisa Minerals on Friday announced the unconditional purchase of mining equipment from MCC Contracts as part of its switch to owner mining, which includes the employment of 900 MCC employees, effective from October 1.  The company, which has... 

Tharisa transitions to owner mining, absorbs 900 contractor personnel
Tharisa CEO Phoevos Pouroulis

Giant miner vies with Google, GE, for hires amid automation push

By: Bloomberg     22nd September 2017 Rio Tinto, the world’s second-largest mining company, is focused as much on driver-less trucks and automated drills as conventional shovels and loaders these days. That means it needs a whole lot more high-tech workers. The London-based company is stepping up efforts to lure engineers and... 

Giant miner vies with Google, GE, for hires amid automation push

Master Drilling aiming to extend geographical, technological diversification

By: Mia Breytenbach     22nd September 2017 Raise-boring and drilling solutions provider Master Drilling continues to extend its service provision capacity and technology reach, with the company focusing on diversifying into new markets and industries and advancing technologically. “Diversification across geographies, commodities,... 

Master Drilling aiming to extend geographical,  technological diversification
KEY COMPONENT Master Drilling aims to grow business not only in underground mining, but also in openpit mining, which makes up the majority of mining

Kallak shows jobs, revenue potential – Beowulf

By: Natasha Odendaal     21st September 2017 Aim-listed Beowulf Mining on Thursday said the development of its Kallak magnetite iron-ore project, in Sweden, into a mining operation will create direct and indirect jobs, increase tax revenues and slow down population decline in the nearby town of Jokkmokk. A socioeconomic study, initiated by... 

Iron-ore sinks as 'peak steel' call, supply angst rattle market

By: Bloomberg     20th September 2017 Iron-ore has been dragged back into the $60s after getting hit by a barrage of bad news, with persistent concern about rising global supply, fresh questions about the outlook for demand in China, and a warning from Australia’s central bank that the top buyer may be nearing peak steel. The... 

Gulf secures ore supply for Kupang smelter

By: Esmarie Swanepoel     19th September 2017 ASX-listed Gulf Manganese has inked two ore supply agreements with manganese mining companies in Timor, to secure feedstock to start operations at the Kupang smelting facility, in Indonesia. A further supply agreement was expected shortly, Gulf said on Tuesday, along the Kupang start-up to take... 

Odisha to clamp down on illegal coal, nonferrous mineral extraction

By: Ajoy K Das     19th September 2017 Close on the heels of imposing penalties on iron-ore and manganese miners, the government of the eastern Indian province of Odisha is readying for a clampdown on coal and other nonferrous mineral miners for production beyond approved mining plans. The Odisha government is preparing notices to be... 

Chinese group buys auctioned Mapochs mine

By: Martin Creamer     15th September 2017 The provisionally liquidated Mapochs mine has been sold under the hammer to International Resources Limited (IRL) of China, BiddersChoice MD Pieter Geldenhuys confirmed to Mining Weekly Online on Friday. In February last year, the Evraz Highveld Steel and Vanadium business rescue practitioners... 

Chinese group buys auctioned Mapochs mine
The Mapochs mine

Vital raises A$2m to advance Watershed work

By: Esmarie Swanepoel     15th September 2017 ASX-listed junior Vital Metals has raised A$2-million through a share placement to progress its Watershed tungsten project, in Queensland. The company will issue 263.9-million new shares, at 75c each, to professional and sophisticated investors, under its current placement capacity. 

Next Fortescue CEO to lead push beyond iron-ore cash machine

By: Bloomberg     15th September 2017 Nev Power’s successor as Fortescue Metals Group Ltd.’s top executive will be charged with leading the world’s fourth-largest iron ore exporter’s drive into new businesses. “We are going to look for and consider other opportunities, where other investors can join us,” chairperson and founder... 

Supplier expanding new pump’s footprint in Australian market

     15th September 2017 Heavy-duty pumps solutions company Pump & Abrasion Technologies (PAT) Australia introduced its new Curve range of slurry pumps at the Aimex mining show, in Sydney, to the New South Wales mining community, following the company’s success with the product in South Africa. 

Sandvik invests in local equipment facility, launches new low-profile load haul dumpers 

By: Ilan Solomons     15th September 2017 Mining equipment and services provider Sandvik Mining and Rock Technology last week officially opened its new R15-million production unit in Boksburg. The opening of the new 1 500 m2 facility, which has ten production bays, coincided with the launch of the 5 t Sandvik LH115L low-profile load haul... 

Sandvik invests in local equipment facility, launches new  low-profile load haul dumpers
Sandvik Southern Africa sales area VP Simon Andrews and Ekurhuleni mayor Mzwandile Masina discuss the importance of Sandvik’s new production facility

Improved fundamentals prompt Moody’s to adjust higher several commodity price sensitivity ranges

By: Henry Lazenby     14th September 2017 Improved fundamentals amid global economic growth are expected to sustain a higher pricing environment for the global base metals industry, prompting credit ratings firm Moody’s Investors Service to adjust higher the price sensitivity ranges for copper, iron-ore, and metallurgical and thermal... 

Improved fundamentals prompt Moody’s to adjust higher several commodity price sensitivity ranges

Chamber agrees to Minister's written undertaking

By: Martin Creamer     13th September 2017 The Chamber of Mines advises that, following an approach by legal counsel representing Mineral Resources Minister Mosebenzi Zwane, it has reached an agreement with him through his legal counsel in respect of the chamber’s urgent interdict to prevent the implementation of Mining Charter Three, as... 

Chamber agrees to Minister's written undertaking
Chamber of Mines CEO Roger Baxter

Master Drilling posts resilient interim results, continues technological innovation focus

By: Mia Breytenbach     12th September 2017 Two additional machines and the impact of favourable foreign-exchange movements have contributed to a 12.5% increase in JSE-listed drilling services provider Master Drilling’s revenue to $60.5-million for the six months ended June 30. The group added two raise-bore machines during the period... 

Master Drilling posts resilient interim results, continues technological innovation focus

Demand for quality metals amplifying – ARM 

By: Martin Creamer     11th September 2017 Global climate change mitigation is amplifying the demand for good quality, low-impurity metals, which are being rewarded with high price premiums. There is a huge drive in China towards better quality, which will eventually use less energy and cause less pollution. (Also watch attached Creamer... 

Demand for quality metals amplifying – ARM
African Rainbow Minerals CEO Mike Schmidt discusses of price premiums being paid for quality with Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer

Red Rock gains another 1% in Steelmin

By: Natasha Odendaal     8th September 2017 The stake of natural resource development company Red Rock Resources in strategic alloy producer Steelmin has increased to 17%, after being issued an additional 1% share capital as part of a €3.87-million secured loan agreement. The eight-month secured loan note, agreed in June, saw Aim-listed... 

India likely to miss mineral block auction target

By: Ajoy K Das     8th September 2017 India’s Mines Ministry is likely to miss its goal of completing the auction of 71 noncoal mineral blocks across seven provinces in the current financial year, despite a flurry of activity to ease federal rules. The unpreparedness of provinces to conduct auctions is largely blamed for the tardy... 

Nokeng mulling two or three more fluorspar mines by 2026 as huge shortage is predicted

By: Mia Breytenbach     8th September 2017 Following the breakthrough of opening the first new mine in Gauteng, South Africa, in the last 12 years, which is being developed by producer SepFluor’s wholly owned Nokeng fluorspar mine, the company aims to become vertically integrated in the fluorspar value chain in future. Fluorite ore is... 

Nokeng mulling two or three more fluorspar mines by 2026 as huge shortage is predicted

Myriad of opportunities in Zim’s mining sector

     8th September 2017 Zimbabwe is poised for growth and, with the country committed to ensuring a sustainable growth path, there are a host of investment opportunities in the mining industry to be capitalised on. This is according to the investment promotion body Zimbabwe Investment Authority‘s Invest in Zimbabwe... 

Myriad of opportunities in Zim’s mining sector
Photo by Bloomberg
DIAMONDIFEROUS Zimbabwe has deposits of high-quality diamonds, which are in high demand on the global market

Poor market conditions lead to diversification

By: Marleny Arnoldi     8th September 2017 Owing to tough ferrochrome and ferromanganese market conditions globally, process and engineering service provider Metix has had to widen its focus beyond ferrous metals and target the processing of other commodities.  

Assore posts record headline earnings

By: Ilan Solomons     8th September 2017 Mining investment holding company Assore achieved a 199% increase in headline earnings to R5.2-billion for the financial year to June 30, compared with R1.7-billion in the previous year. Attributable earnings amounted to R5-billion, which was an improvement of 226% from 2016, which was also a... 

Assore posts record headline earnings
Photo by Assore
CHARLES WALTER Iron-ore and manganese ore prices have reflected improved global economic conditions

South African mining must be made globally competitive – Motsepe 

By: Martin Creamer     7th September 2017 All South Africans need to work together to ensure that the South African mining industry is a globally competitive investment destination, said African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe on Thursday, when he declared the black-controlled company’s highest-ever dividend.... 

South African mining must be made globally competitive – Motsepe
All South Africans need to work together to ensure that the South African mining industry is a globally competitive investment destination. Video and editing: Darlene Creamer 7.9.2017

Mining production growth slows to 0.9% y/y in July

By: Anine Kilian     7th September 2017 Mining production growth slowed to 0.9% year-on-year in July, compared with production growth of 1.3% year-on-year in June. Statistics South Africa’s (Stats SA’s) latest mining production report, published on Thursday, showed that manganese ore, chromium ore, diamonds and gold were the main... 

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