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Ferrous Metals News

Tharisa expands its presence in Zim with acquisition of Karo stake

By: Simone Liedtke     13th June 2018 JSE-listed Tharisa has acquired a 26.8% shareholding in Karo Mining Holdings for $4.5-million. Karo Mining, in March, reached an agreement with the Zimbabwe government to establish a platinum group metals (PGM) mine, concentrators, smelters, a base metal and precious metals refinery and power... 

Hancock Prospecting discloses nearly 20% stake in Atlas Iron

By: Reuters     13th June 2018 Australian billionaire Gina Rinehart's Hancock Prospecting group of companies disclosed on Wednesday a 19.96% stake in Atlas Iron, heating up the race for the small iron-ore miner. Hancock Prospecting Pty Ltd holds a 14.97% stake in Atlas, while Hancock's unit Redstone Corporation will have a... 

Brazil pension fund Funcef still considering sale of Vale stake

By: Reuters     12th June 2018 Brazilian pension fund Funcef is still considering whether to sell its stake in mining company Vale SA but sees no immediate urgency to do so, its director Paulo Werneck said on Tuesday, as funds try to avoid putting pressure on Vale shares. Speaking to journalists on the sidelines of a... 

Cleveland-Cliffs exits Australian iron-ore

By: Mariaan Webb     12th June 2018 Iron-ore pellet producer Cleveland-Cliffs has reached the final step in the implementation of its US iron-ore-centric strategy with the announcement on Tuesday that it would sell its Australian iron-ore business. The Cleveland, Ohio-based firm has reached an agreement with Australian mining... 

Cleveland-Cliffs exits Australian iron-ore

South Africa’s ‘Samcodes way’ a world-beater – Mullins

By: Martin Creamer     12th June 2018 South Africa has succeeded in creating a meticulous set of mineral reporting codes that continue to gain international recognition. The South African Mineral Reporting Codes (Samcodes), which protect investors, are currently so highly regarded that in October South Africa will host a large... 

South Africa’s ‘Samcodes way’ a world-beater – Mullins
Photo by Dylan Slater
Samcodes standards committee chairperson Matt Mullins (left) and Mining Weekly Online's Martin Creamer

TNG signs HoA with BBI

By: Esmarie Iannucci     12th June 2018 ASX-listed TNG has signed a heads of agreement (HoA) with infrastructure company BBI Group to assess potential commercial operations in Western Australia. BBI owns the Balla Balla vanadium/titanium/iron project, which is located on the Pilbara coast, and currently has a Joint Ore Reserves... 

Bellzone starts exploratory discussions to maximise Guinea assets’ value

By: Marleny Arnoldi     11th June 2018 Aim-listed Bellzone Mining has started discussions with a number of parties to explore options to potentially maximise the net present value (NPV) of its major assets, including the Konta port, its ferronickel project and the Kalia iron-ore project, all in Guinea.  

Farellon copper/gold mine on track to meet 5 000 t/m in June

By: Nadine James     8th June 2018 TSX-listed mineral exploration company Altiplano Metals has improved capacity at its Farellon copper/gold mine, in Chile, which was now on track to meet its targeted extraction rate of 5 000 t/ m later this month.   "Through professional management of extraction methods and operations, our team... 

MinRes amendments to Atlas offer opens door for ‘discussions’ with other parties

By: Esmarie Iannucci     8th June 2018 Takeover target Atlas Iron on Friday confirmed that suitor Mineral Resources (MinRes) had amended certain clauses in the takeover offer, dropping the no-shop, no-talk and no due diligence clauses. Atlas told shareholders that the amendments to the offer allowed the company to explore... 

MinRes infrastructure project progresses

By: Esmarie Iannucci     8th June 2018 ASX-listed Mineral Resources (MinRes) was expecting a State Agreement for its planned Pilbara infrastructure project before the end of the year. The company on Friday said that it was currently in negotiations with the Department of Jobs, Tourism, Science and Innovation on the terms of the State... 

No let up on calls for flow-through model to boost exploration

By: Martin Creamer     7th June 2018 The failure to raise risk capital for greenfields exploration in South Africa was highlighted at this week’s Junior Indaba, where there was no let up on calls for the adoption of a proven Canada-type flow-through share scheme, and ongoing criticism of the unintended consequences of South Africa’s... 

No let up on calls for flow-through model to boost exploration
Photo by Wynand van der Merwe
JSE business development manager Patrycja Kula-Verster

Fortescue gains 19.9% stake in Atlas Iron

By: Esmarie Iannucci     7th June 2018 Iron-ore major Fortescue Metals has taken a 19.9% shareholding in fellow-listed Atlas Iron, and has revealed that it would not support a proposed takeover of Atlas by Mineral Resources (MinRes). Fortescue on Thursday revealed that it had acquired a 15% shareholding in Atlas, at a price of 4c a... 

Mandela Mining Precinct partner boasts simulation capabilities, serves as ‘test-bed’ for Mining 4.0 technologies 

By: Nadine James     7th June 2018 SiMINE @ Mandela Mining Precinct, located at Carlow Road in Johannesburg, effectively offers two core services – experiential mining simulation as well as a “test bed” for Mining 4.0 principles and systems – for the betterment of the industry, says SiMINE director Gary Lane. He explains that... 

Mandela Mining Precinct partner boasts simulation capabilities, serves as ‘test-bed’ for Mining 4.0 technologies
Gary Lane, Harry Sinko and Antony Mello discuss SiMINE's official launch.

Plan for mining community development levy scrapped

By: Bloomberg     6th June 2018 South Africa’s government has scrapped plans to compel mining companies to contribute 1% of their annual turnover to a new community development agency because it feared the funds could be abused, the nation’s mining minister said. The levy was proposed in a draft of the nation’s new Mining... 

Current mining ‘boom’ very different to last one – CRU

By: Martin Creamer     6th June 2018 A return of capital expenditure (capex) and inorganic sources of growth are seen as a key corporate priority for 2018 and beyond, CRU Group senior consultant Aleksander Popovic said on Wednesday. The provider of marketing intelligence to mining told the Junior Indaba that the company’s... 

Current mining ‘boom’ very different to last one – CRU
Photo by Dylan Slater
CRU Group senior consultant Aleksander Popovic

Frydenberg approves Tasmania iron-ore mine’s development

By: Esmarie Iannucci     6th June 2018 Federal Environment and Energy Minister Josh Frydenberg has approved the Rogetta iron-ore mine, in Tasmania, for development. The project, which is being developed by unlisted Forward Mining, will comprise an opencut operation producing at a rate of one-million tonnes a year over a proposed... 

Frydenberg approves Tasmania iron-ore mine’s development

Govt creating junior miners’ fund, boosting geoscience, legitimising zama-zamas 

By: Martin Creamer     5th June 2018 The government is partnering the State-owed Industrial Development Corporation (IDC) to establish a junior miners’ fund that will provide exploration investment capital to black-owned emerging miners; it is also investing R20-billion in the Council for Geoscience to boost exploration as well as... 

Govt creating junior miners’ fund, boosting geoscience, legitimising zama-zamas
Mineral Resources Deputy Minister Godfrey Oliphant announces junior funding at Junior Indaba, covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

South Africa’s commodity sector continues to suffer, despite favourable market conditions

By: Simone Liedtke     5th June 2018 While favourable market conditions, higher commodity prices and strong internal discipline will produce increased liquidity and balance sheet strength for miners this year, advisory firm PwC Africa energy, utilities and resources leader Michal Kotzé believes South Africa’s commodity sector will... 

Altus Strategies lists on TSX-V, retains Aim-listing

By: Simone Liedtke     4th June 2018 Exploration project generator Altus Strategies is now dually listed on the London Stock Exchange’s Aim and the TSX-Venture Exchange, with ordinary shares expected to start trading on TSX-V on June 6. As at the listing date, the company had just over 176-million shares in issue and had granted... 

Furnaces outperform industry expectations

By: Paige Müller     1st June 2018 Two custom built 81 MVA submerged arc alternating current (AC) furnaces – designed and supplied by South African process and engineering firm Metix to Malaysia-based joint venture smelting facility Sakura Ferroalloys – have outperformed industry expectations since the smelting facility’s... 

Furnaces outperform  industry expectations
ENHANCED AVAILABILITY The submerged arc furnace provided by Metix have enjoyed an availability rate of more than 98% since installation

‘Law does not adequately protect pregnant women working in risk environments’

By: Nadine James     1st June 2018 The legislature should amend the Unemployment Insurance Act (UIA) to protect pregnant employees working in risk environments, says Cliffe Dekker Hofmyer employment practice director Fiona Leppan. She says South African legislation does not provide adequate protection for pregnant women working in... 

‘Law does not adequately protect pregnant women  working in risk environments’
FIONA LEPPAN If the Unemployment Insurance Act were to be amended, it should address situations where pregnant women would be prejudiced because of the work environment – not because they are pregnant

Sentiment dampens as Charter, MPRDA deadline commitments are postponed

By: Nadine James     1st June 2018 The positive sentiment stemming from the appointment of President Cyril Ramaphosa, and the subsequent appointment of Mineral Resources Minister Gwede Mantashe has dampened recently as Mantashe pushed out the finalisation of the Mining Charter and lodged an application for leave to appeal against... 

Sentiment dampens as Charter, MPRDA deadline  commitments are postponed
WARREN BEECH Hogan Lovells’ Mining head believes Minerals Resources Minster Mantashe’s credibility has been adversely impacted by some of his recent comments

Mining, industrial contracts for ELB in SA and abroad

By: Nadine James     1st June 2018 ELB Engineering Services (ELB) announced last week that it had been awarded the drying system for the M.V. Grand Banks life extension project for marine mining company De Beers Marine. Additionally, the company noted that it had completed train loading station (TLS) and stacker projects for the... 

Mining, industrial contracts for ELB in SA and abroad
STACK THE DECK ELB’s multidisciplinary approach has led to a range of mining and industrial projects in the last year

Wheel loader boasts exceptional performance

1st June 2018 Earthmoving equipment and construction equipment dealer HPE Africa’s Hyundai HL780-9S wheel loader, which is being used by plant hire company Vanalls Plant Hire at a manganese smelter in eMalahleni, in Mpumalanga, to break up and transport silica manganese, is “coping efficiently in harsh... 

Wheel loader boasts  exceptional performance
HEAVY DUTY The HL780-9S has been fitted with durable tyre chains for enhanced performance, improved traction and tyre protection

Canada’s Nautilus aiming to start marine mining in 2019 despite enviro concerns

By: Dylan Slater     1st June 2018 Deep-sea mining is yet to become a major mining activity, and not much is known about undersea deposits of minerals. However, some role-players in the mining industry are claiming that the deep-sea floor could be host to an abundant and untapped resource of highly sought-after commodities, which... 

Canada’s Nautilus aiming to start marine mining in 2019 despite enviro concerns

Oil & gas, mining industries anxious about top brass succession planning

By: Henry Lazenby     31st May 2018 There is real anxiety in the oil and gas and mining industries regarding the lack of aptitude to replace an ageing top-level management talent pool, Stephen Diotte, partner and head of leadership services for Odgers Berndtson tells Mining Weekly Online. He recently joined the executive search... 

Oil & gas, mining industries anxious about top brass succession planning

Tharisa may join Karo in $4.2bn Zimbabwe platinum project

By: Bloomberg     31st May 2018 Tharisa, the platinum and chrome miner run by the Pouroulis family, is considering investing in a $4.2-billion platinum project in Zimbabwe being developed by another company founded by the family. Tharisa would join Karo Resources, founded by mining entrepreneur Loucas Pouroulis, in building the... 

Tharisa may join Karo in $4.2bn Zimbabwe platinum project
Tharisa CEO Phoevos Pouroulis

‘There is no knowing where the change will end’ – analyst

By: Henry Lazenby     30th May 2018 The wave of change that the electrification of automobiles brings is moving beyond electric vehicles (EV) to the micro, artificial intelligence and autonomous mobility options, which should increasingly be brought into the outlook for the burgeoning market. “Big gambles and bold leadership does... 

‘There is no knowing where the change will end’ – analyst

Brazil truckers strike having limited impact on Vale operations – CEO

By: Reuters     30th May 2018 A strike by Brazilian truckers to protest a hike in diesel prices has had a limited impact on operations at Vale, the world's top iron-ore producer, but could worsen if the strike continues, CEO Fabio Schvartsman said on Tuesday. Speaking at an event in Sao Paulo, Schvartsman also said he saw a... 

Insimbi achieves higher revenue, gross profit in FY18

By: Simone Liedtke     29th May 2018 JSE-listed Insimbi Refractory and Alloys Supplies will be adding a significant value uplift to its chrome and aluminium businesses when it starts supplying powder-makers with a lower-grade aluminium content powder. It will start taking orders for this product in July, Insimbi CEO Fred Botha told... 

Beowulf CEO to meet Swedish politicians in Almedalen

By: Creamer Media Reporter      29th May 2018 UK-headquartered Beowulf Mining CEO Kurt Budge will return to Almedalen this year to continue dialogue with politicians over the Kallak magnetite iron-ore project, in northern Sweden. Budge, who also attended the 2017 gathering, said will be attending the Almedalen Week in early July. 

AMSA moves to sell stake in Macsteel International for R2.8bn

By: Terence Creamer     28th May 2018 Steel producer ArcelorMittal South Africa (AMSA) announced on Monday that it intended to sell its 50% indirect interest in steel trading and shipping business Macsteel International (MIHBV) to a subsidiary of Macsteel Holdings (MacHold) for $220-million, or around R2.8-billion. The proposed... 

AMSA moves to sell stake in Macsteel International for R2.8bn
Photo by Creamer Media
AMSA CEO Kobus Verster

Guinea retains mining minister in Cabinet reshuffle

By: Bloomberg     28th May 2018 Guinea’s President Alpha Conde appointed a new 33-member Cabinet in which Abdoulaye Magassouba was retained as mines and geology minister, according to a decree read on the West African country’s state-owned broadcaster on Saturday. Mamady Camara, who was Guinea’s ambassador to South Africa, was... 

Fortescue to develop $1.27bn Eliwana project

By: Esmarie Iannucci     28th May 2018 The board of iron-ore major Fortescue Metals has approved the $1.27-billion Eliwana mine and rail project, in the Pilbara. The project will entail a new 30-million-tonne-a-year dry ore processing facility and infrastructure, as well as a 143 km rail line. 

Fortescue to develop $1.27bn Eliwana project

Fortescue repays more debt

By: Esmarie Iannucci     25th May 2018 Iron-ore miner Fortescue Metals has issued a voluntary redemption notice of $160-million for the remaining balance of the 9.75% senior secured notes due in 2022. CFO Ian Wells said on Friday that the repayment of the high cost notes left all of Fortescue’s remaining debt structured on investment... 

Vale sees key mine topping iron-ore output forecasts in 2018 – source

By: Reuters     25th May 2018 Brazilian miner Vale expects iron-ore output at its premier S11D mine to reach 58-million tonnes this year, above an official forecast of 50-million to 55-million tonnes, a person familiar with the matter said. The expected increase is due mainly to selling more "canga," or iron-ore with a... 

African Sun Mining pursues opportunities at Junior Indaba

By: Donald Makhafola     25th May 2018 Owing to the current high prices of commodities, wholly black-owned, Pretoria-based opencast mining contractor African Sun Mining hopes to liaise with mining companies, which are prepared to start new projects, during this year’s Junior Indaba to be held from June 5 to 6 at the Johannesburg... 

African Sun Mining pursues opportunities at Junior Indaba
SERVICE OFFERING African Sun Mining offers a full package of opencast mining services

Botswana mining conference yielding opportunities

By: Melissa Zisengwe     25th May 2018 Mining and engineering company Pan African Minerals says it attended the 2018 Mining Investment Botswana Conference, which was held in Gaborone from April 10 to 11, to create partnerships, networks and take advantage of the business matching prospects. The company’s attendance has already yielded... 

Botswana mining conference yielding opportunities
NKULULEKO MHLABA As a result of the 2018 Mining Investment Botswana conference we now also have three pending transactions in Botswana

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