http://www.miningweekly.com
R/€ = 15.74 Change: -0.02
R/$ = 13.41 Change: 0.00
Au 1232.07 $/oz Change: 8.82
Pt 829.00 $/oz Change: 16.94
 

Ferrous Metals News

Vale CEO eyes first quarter results in line with fourth quarter

By: Reuters     28th February 2018 Brazilian miner Vale should achieve results in the first quarter that are similar to those in the final three months of 2017, the chief executive officer of the world's top iron-ore producer said on Wednesday. In a conference call after the company reported a nearly 50% jump in profit in the... 

Vale sails new 'green' ship in bid to cut rivals China advantage

By: Bloomberg     28th February 2018 Brazil’s Vale SA has sailed the first in a fleet of more efficient cargo vessels it’s using in a push to minimize the geographical advantage of its Australian rivals in sending iron ore to China. The Yuan He Hai is part of a second-generation line of Very Large Ore Carriers, known as VLOCS or... 

Vale sails new 'green' ship in bid to cut rivals China advantage

Vale Q4 profit rises but misses estimates on costs, forex

By: Reuters     28th February 2018 Brazilian iron-ore miner Vale SA's quarterly net income jumped by 47% but still badly missed analyst estimates, depressed by rising costs and foreign exchange related losses. 

Resounding welcome for Gwede, who declines opportunity to comment

By: Martin Creamer     27th February 2018 New South African Mineral Resources Minister Gwede Mantashe has received a resounding welcome from the Chamber of Mines of South Africa, Business Leadership South Africa (BLSA) and mining luminaries. The Chamber of Mines of South Africa has welcomed the appointment of Mantashe, 62, describing him... 

Resounding welcome for Gwede, who declines opportunity to comment
Photo by Duane Daws
Incoming Mineral Resources Minister Gwede Mantashe

Atlas Iron adjusts product strategy to counter steep discounts

By: Mariaan Webb     27th February 2018 Mid-sized Australian iron-ore producer Atlas Iron has remained cashflow-positive in the financial half-year ended December 2017, despite high discounts for lower grade iron-ore as a result of China cleaning up its pollution act. The company, which mines iron-ore from operations in the northern... 

Atlas Iron adjusts product strategy to counter steep discounts

Stronger-than-expected iron-ore price rally not expected to last – BMI

By: Creamer Media Reporter      23rd February 2018 The strong iron-ore price rally over the last several months is not expected to last and will gradually run out of steam over the next several years as Chinese economic growth refocuses away from heavy industry to services, dampening global demand for the steelmaking ingredient, Fitch... 

Champion Iron Ore sends off first loaded train

By: Henry Lazenby     23rd February 2018 TSX- and ASX-listed miner Champion Iron Ore has dispatched its first loaded train of iron-ore from subsidiary Quebec Iron Ore's (QIO's) flagship Bloom Lake mine, near Fermont. The train load comprised 16 500 t of high-grade 66% iron concentrate and is destined for the Sept-Îles port, from where... 

Grange seeks investors for high-grade magnetite project

By: Nadine James     23rd February 2018 Iron-ore miner Grange Resources and its joint venture (JV) partner SRT Australia on Friday announced the appointment of PCF Capital Group to assist with finding strategic investors for the Southdown magnetite project, near Wellstead, Western Australia. Gange CEO Honglin Zhao stated Southdown was... 

Finland takes top spot for mining-friendly investment 

By: Henry Lazenby     23rd February 2018 Finland has ousted Saskatchewan as the top international jurisdiction for mining investment, Canada's Fraser Institute announced on Thursday. Canada's leading independent think-tank, the Fraser Institute, administers its Annual Survey of Mining Companies and ranks jurisdictions around the world... 

Finland takes top spot for mining-friendly investment

De Beers unit’s density measurement system now commercially available

By: Mia Breytenbach     23rd February 2018 De Beers Group of Companies’ innovation division De Beers Technologies South Africa (DebTech SA) has developed a novel density measurement system that can provide process plants with fast and accurate data on material density profiles of particle samples. The availability of this data, in turn,... 

De Beers unit’s density measurement system now commercially available
ACCURATE MEASUREMENT The RhoVol has a process rate of approximately 1 000 particles an hour, which is generally sufficient for a representative sample

Flare-gas-harnessing solution to be on show at Infacon XV

By: Nadine James     23rd February 2018 Swedish clean technology company Ripasso Energy will be presenting its PWR BLOK 400-F solution to the international ferroalloys industry at the fifteenth International Ferro-Alloys Congress (Infacon XV), which is taking place at the Century City Conference Centre in Cape Town, from February 25 to... 

Finnish authority obliges Koncar to launch takeover bid for Afarak

By: Anine Kilian     22nd February 2018 The Finnish Financial Supervisory Authority (FIN-FSA) has obliged Afarak COO Danko Koncar to launch a takeover bid for Afarak Group shares, and imposed a running conditional fine to enforce the obligation.   LSE- and Nasdaq-listed Afarak on Thursday published a statement issued by the FIN-FSA,... 

Restructured Anglo American reaps benefits, posts solid FY17 results

By: Simone Liedtke     22nd February 2018 After an extensive restructuring, diversified miner Anglo American raised its dividend for the 2017 financial year to $1.02 a share - its highest dividend in nearly a decade. The "fundamentally different business" nearly halved its debt to $4.5-billion and doubled its free cash flow by 93% to... 

Restructured Anglo American reaps benefits, posts solid FY17 results
Diversified miner Anglo American

Burkina Faso seeks new partner for $1bn manganese project

By: Bloomberg     22nd February 2018 Burkina Faso is looking for a new partner to mine the world’s largest manganese deposit after rights disputes thwarted two earlier attempts to develop the $1-billion project. Pan African Minerals, a unit of Timis Mining, was told to stop production at the Tambao mine in 2015 following a change in... 

What happens when China's steel curbs end? Here's BHP's take

By: Bloomberg     22nd February 2018 Steelmakers in China are about to get back to business full-time. When unprecedented winter supply curbs lapse in the coming weeks, BHP Billiton forecasts mills in the top producer will step up output, boosting run rates through the second quarter to make up for curtailments. The resumption will... 

What happens when China's steel curbs end? Here's BHP's take

Volumes, dollar prices keep rand at bay for divi-hoisting Assore

By: Martin Creamer     21st February 2018 Improved volumes and better dollar prices proved sufficient for mining holding company Assore to keep rand strength at bay in posting strong headline earnings growth and a sharp interim dividend increase. The company's half-year results were highlighted by a 12% rise in headline earnings, a... 

Volumes, dollar prices keep rand at bay for divi-hoisting Assore
Photo by Duane Daws
Assore CEO Charles Walters

China’s iron-ore discounts hit Fortescue revenue, profit falls sharply

By: Mariaan Webb     21st February 2018 Chinese steelmakers’ demand for better-quality ore has had a significant impact on Australian miner Fortescue Metals’ half-year financial performance, with revenue contracting by 18% and net profit falling sharply, sending shares down about 4% on Wednesday. Australia’s third major iron-ore... 

China’s iron-ore discounts hit Fortescue revenue, profit falls sharply
The ore processing facility at Solomon.

BHP rewards shareholders, profit jumps 25% on commodity prices

By: Mariaan Webb     20th February 2018 Higher commodity prices have helped the world’s largest diversified mining group to report a 25% increase in its underlying attributable profit and to reward shareholders with higher interim dividends. Melbourne-headquartered BHP grew its underlying attributable profit from $3.24-billion in the... 

BHP rewards shareholders, profit jumps 25% on commodity prices
BHP CEO Andrew Mackenzie

Bauba launches Moeijelijk underground chrome development

By: Anine Kilian     19th February 2018 JSE-listed Bauba Platinum officially launched the underground development phase of its Moeijelijk chrome mine, in Limpopo, on Friday. Speaking to Mining Weekly Online, CEO Nick van der Hoven said the mine, which is set to create about 400 direct and indirect jobs by December, has already started... 

Bauba launches Moeijelijk underground chrome development
Photo by Duane Daws
Bauba CEO Nick van der Hoven

Cyclone Kelvin lashes West Australia, no damage reported to mines, gas projects

By: Reuters     19th February 2018 Tropical Cyclone Kelvin hit the resource-rich north coast of Western Australia on Sunday, lashing it with strong winds and causing floods that could cut the main highway for up to two weeks. The storm crossed the coast 165 km south-southwest of Broome early on Sunday morning with destructive... 

Vale notches record iron-ore output in 2017, sales slip

By: Reuters     16th February 2018 Brazilian miner Vale said on Friday that total iron-ore output reached a record of 366.5-million tonnes last year, boosted by record high production from its so-called northern system, even as iron ore sales slipped slightly from 2016. The northern system, composed of its Carajás, Serra Leste... 

Mining mechanisation could create ‘massive’ employment challenges – Harwood 

By: Nadine James     16th February 2018 Despite positive sentiment and improving commodity prices, the African mining industry continues to face immense challenges, says Montero Mining and Exploration CEO Dr Antony Harwood. Addressing the African Mining Network’s (AMN’s) thirty-ninth networking dinner, on Thursday evening, he touched... 

Mining mechanisation could create ‘massive’ employment challenges – Harwood
Photo by Duane Daws
ANTONY HARWOOD Fear of the other could become fear of the robot

Leon expects mining industry to have a future under Ramaphosa’s Presidency

By: Nadine James     16th February 2018 Herbert Smith Freehills partner and Africa co-chairperson Peter Leon is cautiously optimistic that the changes signalled by newly elected President Cyril Ramaphosa will benefit South Africa’s economic recovery. In a speech to the British Chamber of Business in South Africa on Thursday evening, he... 

Leon expects mining industry to have a future under Ramaphosa’s Presidency
Photo by Duane Daws
Herbert Smith Freehills partner and Africa co-chairperson Peter Leon

Fortescue's Aboriginal programme hits A$2bn mark

By: Simone Liedtke     16th February 2018 Iron-ore major Fortescue Minerals' 'billion opportunities programme' has reached the A$2-billion-mark, with 250 contracts and sub-contracts having been awarded to 110 Aboriginal businesses and joint ventures in the seven years since its inception. CEO Nev Power said on Friday that the programme... 

Satellite solutions provider targets African mining industry

By: Nadine James     16th February 2018 Over the last 18 months, communications service provider SES Networks has noticed significant demand for connectivity from mining and oil and gas operations, and as a result has tried to grow its foothold within these markets. SES Networks Africa Sales VP Carole Kamaitha explains that the demand... 

There is new energy to ease mining industry conflict – Scholes

By: Mia Breytenbach     16th February 2018 There appears to be new political resolve to mend the relationship between the mining industry and the Department of Mineral Resources, says specialised law firm Malan Scholes director Hulme Scholes. Speaking at the IHS Markit South African Coal Export Conference, in Cape Town, on Thursday, the... 

There is new energy to ease mining industry conflict – Scholes
Photo by Duane Daws
HULME SCHOLES For the first time . . . we will see the trust deficit between the mining industry and department close

Pipe for tailings system supplied on schedule 

By: Victor Moolman     16th February 2018 An 840-m-long, high-density polyethylene (HDPE) pipeline was installed in October last year to transport corrosive tailings to a tailings dam at the ore beneficiation plant located close to the underground Morula chrome mine – owned by ferrochrome company Hernic – in Brits, in the North West. 

Pipe for tailings system supplied on schedule
Plasti-Tech managing member Brad Chamont explains the pipe specs and where they have been installed. Camerawork: Nicholas Boyd. Editing: Christo Greyling.

Sound policy, low risk key to attracting mining investment

By: Henry Lazenby     16th February 2018 The global equity markets have been extremely volatile in recent weeks, extending a frantic selloff in US stocks that culminated in the steepest plunge for the Dow Jones Industrial Average in six-and-a-half years. While commodities were not spared from the rout, American multinational investment... 

Sound policy, low risk key to attracting mining investment

South32 announces special dividend after stronger-than-expected H1

By: Simone Liedtke     15th February 2018 Diversified miner South32 will return more money to shareholders, after reporting a stronger-than-expected $543-million underlying profit for the first half of the 2018 financial year. This meant that dividends to shareholders would be doubled. 

South32 announces special dividend after stronger-than-expected H1
Photo by Duane Daws
South32 CEO Graham Kerr

Indian mineral royalty rate revision on the cards

By: Ajoy K Das     15th February 2018 Signaling an imminent revision in royalties payable, barring coal, lignite and sand, the Indian government has constituted a study group to review existing rates, recommend any revision and suggest policy changes in administration of the royalty regime. According to a government order, the... 

TFR transports record chrome volumes from mines to ports

By: Schalk Burger     14th February 2018 State-owned Transnet Freight Rail (TFR) has transported a record 5.77-million tons of chrome by rail from mines to the ports in the first 47 weeks of the current financial year. This exceeds the 5.75-million tons of chrome transported by rail in the prior financial year. 

Kumba profit up 12% in 'royal flush' year – CEO

By: Megan van Wyngaardt     13th February 2018 In a year that CEO Themba Mkhwanazi describes as a "royal flush", Kumba Iron Ore posted a 12% increase in headline earnings to R9.7-billion. Headline earnings reached R30.47 a share, while earnings before interest, taxes, depreciation and amortisation increased by 6% year-on-year to R19.6-billion... 

Mugabe's fall has veteran miners jockeying for Zimbabwe comeback

By: Bloomberg     13th February 2018 Robert Mugabe’s fall as Zimbabwe president is setting the scene for the return of a London mining listing for Andrew Groves and his long-term business partner – and former England cricketer – Phil Edmonds. Groves is preparing to relist the pair’s Zimbabwe coal, chrome and gold assets in London... 

Kumba FY17 profit rises 12%

By: Reuters     13th February 2018 South Africa's Kumba Iron Ore reported a 12% rise in annual profit on Tuesday, underpinned by higher costs for the steel-making ingredient. The company, a unit of Anglo American, said headline earnings came in at R9.7-billion ($813.36-million), or R30.47 a share, in the year ended December 2017,... 

Samsung SDI turns to used phones for cobalt as prices surge

By: Bloomberg     12th February 2018 Samsung SDI, a battery supplier to carmakers including BMW, plans to recycle cobalt from used mobile phones as companies around the world scramble to secure supplies of the metal amid surging prices. The plan fuels a trend among battery makers to reduce dependence on the Democratic Republic of... 

Kumba expects FY17 earnings to soar as production improves

By: Megan van Wyngaardt     9th February 2018 Kumba Iron Ore's headline earnings for the year ended December 31 are likely to increase by 7% to 15% year-on-year to between R9.3-billion and R9.98-billion and its headline earnings per share (HEPS) to between R29.13 and R31.27. "The increase in headline earnings is largely attributable to... 

Industry, environment lobby cautiously optimistic as Canada tables new enviro review rules

By: Henry Lazenby     9th February 2018 Ottawa on Thursday tabled new legislation to improve the federal environmental assessment process for mining projects. The legislation is aimed at strengthening and restoring the credibility of Canada's environmental laws. 

Industry, environment lobby cautiously optimistic as Canada tables new enviro review rules

Bushveld to focus on growth at vanadium, coal assets this year 

By: Mia Breytenbach     9th February 2018 Following the achievement of significant development milestones during 2017, integrated vanadium producer Bushveld Minerals will focus on enhancing growth at its vanadium and coal assets this year. “There is a unique window of opportunity for the company to position itself as a large, vertically... 

Bushveld to focus on growth at vanadium, coal assets this year
Bushveld Minerals CEO Fortune Mojapelo discusses the strides made in the company’s portfolio in 2017 and outlines the company’s future growth plans. Camerawork: Nicholas Boyd.

Latest News

more

Latest Videos

more

Company Announcements

more

Topics In These Articles

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close