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Ferrous Metals News

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

Coega perfectly poised to participate in lithium-ion battery industry – CDC

By: Simone Liedtke     23rd May 2018 The Coega Special Economic Zone (SEZ) is at an advanced stage of setting up factories that will supply gigawatt factories with manganese, a key ingredient in most lithium-ion batteries. Coega Development Corporation (CDC) business development metallurgic sector manager Sadick Davids says the SEZ... 

Newly named Minerals Council South Africa welcomes board members

By: Nadine James     23rd May 2018 Minerals Council South Africa (MCSA) president Mxolisi Mgojo noted that all of the council’s previous office bearers had been re-elected at the 128th annual general meeting. During his address, Mgojo thanked Kalagadi Manganese chairperson Daphne Mashile-Nkosi, who retired from MCSA board duties... 

Mantashe considers invoking ‘use it or lose it’ principle for mines under care and maintenance

By: Nadine James     23rd May 2018 Speaking at the official unveiling of the rebranded Minerals Council South Africa (previously the Chamber of Mines), on Wednesday, Mineral Resources Minister Gwede Mantashe noted that he and the Department of Mineral Resources (DMR) were unenthusiastic, but willing to make use of the 'use it or... 

Mantashe considers invoking ‘use it or lose it’ principle for mines under care and maintenance
Photo by Dylan Slater
Mineral Resources Minister Gwede Mantashe

Chamber of Mines hopes to embark on new era rebranding as Minerals Council South Africa

By: Nadine James     23rd May 2018 The Chamber of Mines has rebranded and is now the Minerals Council South Africa (MCSA) in line with its quest to reposition the sector as South Africa’s  preeminent industrial sector, while building a new legacy and creating a “future that all South African can be proud of,” MCSA president... 

Chamber of Mines hopes to embark on new era rebranding as Minerals Council South Africa
Photo by Dylan Slater
MCSA president Mxolisi Mgojo and Mineral Resources Minister Gwede Mantashe

Gamsberg producing by mid-year – Vedanta

By: Martin Creamer     23rd May 2018 The Gamsberg zinc project in South Africa’s Northern Cape is on track with production expected by the middle of this year, the London-listed, India-rooted Vedanta Resources said on Wednesday, when it reported higher revenue and profits and lifted its dividend yield for the year to 6%. Current... 

Gamsberg producing by mid-year – Vedanta
Photo by Dylan Slater
Vedanta chairperson Anil Agarwal

Kumba banks on technology investment, exploration to secure its future growth

By: Nadine James     23rd May 2018 Kumba Iron ore is seeking to strengthen its position by integrating and investing in new technologies to optimise performance and recovery, while pursuing value-accretive opportunities, through exploration and diversification, CEO Themba Mkhwanazi told media during a site visit to the Sishen... 

Kumba banks on technology investment, exploration to secure its future growth
Photo by Creamer Media
Kumba Iron Ore has integrated and further invested in new technologies for advanced process control, among others.

Vale boss prefers giving away windfall to avoid sins of the past

By: Bloomberg     21st May 2018 Vale, once the most generous dividend payer among major mining companies, may be poised to regain that status with its chief executive officer nearing debt targets and unwilling to hoard cash or rush into deals. Like others in the industry, the biggest producer of iron ore and nickel cut... 

Company believes commodities will regain positive momentum

18th May 2018 The commodities markets have been taken aback by rising uncertainties, including an early February equity market sell-off and the trade conflict between the US and China. As the second quarter unfolds, some of these uncertainties should be easier to interpret, however, price volatility and... 

Company believes  commodities will regain positive momentum
Photo by Bloomberg
GROWTH POSSIBILITY Despite some market uncertainty, the global economy is expected to grow at its fastest pace since 2011

Congo billionaire seeks French loan to develop iron-ore railway

By: Bloomberg     17th May 2018 Paul Obambi, a billionaire investor in the Congo Republic, is in talks with French lenders to fund a railway he’s building to export iron-ore. Obambi’s company Sapro SA is negotiating with “a consortium of banks” to finance the 450-km track that will link the southwestern town of Mayoko to a... 

Atlas flags up to A$100m impairment on lower grades, higher costs

By: Esmarie Iannucci     17th May 2018 Iron-ore miner Atlas Iron has warned of a A$75-million to A$100-million noncash impairment charge for 2018, as iron-ore grades declined and costs increased. Atlas on Thursday told shareholders that it remained on track to ship between nine-million and ten-million tonnes of iron-ore during the... 

Tharisa on track to achieve Vision 2020 strategy; acquires Zim chrome asset

By: Simone Liedtke     16th May 2018 Integrated resource group Tharisa CFO Michael Jones says the company’s Vision 2020 strategy, which is aimed at increasing production to 200 000 oz of platinum-group metals (PGMs) and two-million tonnes of chrome concentrates by year-end 2020, is well on track. Tharisa, which on Wednesday... 

Tharisa on track to achieve Vision 2020 strategy; acquires Zim chrome asset
Tharisa CFO Michael Jones

Short spell of mining hope dashed – Lorimer

By: Martin Creamer     16th May 2018 The short spell of hope for South Africa’s beleaguered mining sector, which burst forth with the election of Cyril Ramaphosa as President, has been dashed, Shadow Mineral Resources Minister James Lorimer said during the mineral resources budget debate. Applying the ‘learning nothing and... 

Short spell of mining hope dashed – Lorimer
Shadow Mineral Resources Minister James Lorimer

Beowulf raises £1.5m for graphite and magnetite projects

By: Creamer Media Reporter      16th May 2018 Exploration company Beowulf Mining has raised £1.5-million for general working capital purposes and to support its graphite and magnetite activities. The proceeds were raised at 5p a share, said Beowulf, which owns the Kallak magnetite iron-ore project and the Åtvidaberg polymetallic exploration... 

Fortescue seeks to replicate Pilbara success in South America

By: Esmarie Iannucci     16th May 2018 Iron-ore miner Fortescue Metals is reportedly looking to replicate its iron-ore success from the Pilbara, in Argentina. Celebrating ten years of iron-ore exports from the Pilbara, Fortescue founder and chairperson Andrew Forrest said on Tuesday that the company was looking at early stage... 

Mantashe prioritises policy, laments ‘inadequate’ budget allocation

By: Marleny Arnoldi     15th May 2018 The Department of Mineral Resources (DMR) will make policy and legislation one of its key priorities this year and has committed to finalising the Mining Charter in June, Minister Gwede Mantashe said on Tuesday. Mantashe, who tabled the DMR’s Budget Vote in Parliament, listed the department’s... 

Mantashe prioritises policy, laments ‘inadequate’ budget allocation
Photo by Creamer Media
Mineral Resources Minister Gwede Mantashe

Sanctions to have limited impact on Iran’s mining industry – BMI

By: Creamer Media Reporter      15th May 2018 The re-imposition of US sanctions on Iran will have only a limited impact on the country’s mining and metals industry in the short term and is expected to do “little additional damage to an industry already crippled by a myriad of domestic operational challenges”. This is according to BMI... 

Sinosteel to invest $1bn in Zimbabwe, lift ferrochrome output

By: Reuters     15th May 2018 China's Sinosteel Corporation has agreed to invest $1-billion in Zimbabwe to build a power plant and increase ferrochrome output, the Southern African country's President Emmerson Mnangagwa said on Monday. Sinosteel president Andong Liu said the Chinese firm planned to build three additional... 

Government releases its tenth Industrial Policy Action Plan 

By: Kim Cloete     15th May 2018 The government has released its Industrial Policy Action Plan (Ipap) 2018, with a sharp focus on deepening industrial development, speeding up radical economic transformation and increasing the ability to produce higher value-added products. Trade and Industry Minister Dr Rob Davies said it was... 

Government releases its tenth Industrial Policy Action Plan
Photo by Creamer Media
Trade and Industry Minister Dr Rob Davies

NSL raises A$10m for expansion

By: Esmarie Iannucci     14th May 2018 India-focused NSL Consolidated will raise A$10-million to expand production at its Kurnool wet beneficiation plant. The company on Monday announced that more than 714.2-million shares will be issued at 1.4c each. More than 650.6-million of these shares would be placed under existing capacity,... 

Thor Explorations aims to lead Nigeria's new mining pack

By: Reuters     14th May 2018 Canada-listed junior miner Thor Explorations aims to bring Nigeria's first large-scale gold mine online in early 2020, its CEO said, as the West African country seeks to diversify its economy away from oil and gas. Following the commodity price crash of 2015/16, the World Bank in April 2017 said... 

Transnet, Tshipi é Ntle sign long-term manganese contract

By: Simone Liedtke     11th May 2018 State-owned Transnet has signed the second long-term agreement under its Manganese Export Capacity Allocation (Meca) programme, which seeks to integrate a number of export manganese contracts. The seven-and-a-half-year contract with manganese miner Tshipi é Ntle will result in 2.1-million tonnes... 

Allen Morgan steps down from Kumba board

By: Nadine James     11th May 2018 Allen Morgan on Friday stepped down as lead independent nonexecutive director of Kumba Iron Ore. During Kumba’s annual general meeting (AGM), on Friday, chairperson Dr Mandla Gantsho thanked Morgan for his “immense contribution and dedication to the board and the company. 

ArcelorMittal studies lower grade iron-ore project in Liberia

By: Mariaan Webb     11th May 2018 With mining having started at the new Gangra direct shipping ore (DSO) deposit in Liberia, global steel and mining major ArcelorMittal is taking another look at the lower grade resources at its Tokadeh mine. The company has started a feasibility study to assess the optimal concentration solution... 

Local market welcomes launch of SRK Exploration Services

By: Nadine James     11th May 2018 The local and sub-Saharan African market has responded “very positively” to the establishment of SRK Exploration Services, a discipline-led division of SRK Global, says SRK Exploration Services Southern African exploration manager Oliver Bayley. He explains that the Cardiff-based division... 

Local market welcomes launch  of SRK Exploration Services
HENNIE THEART AND OLIVER BAYLEY The growing ranks of midtier and junior mining companies who lack in-house technical ability has created an untapped market for SRK

To succeed as a ‘sunrise industry’, SA mining must widen ownership, meet other challenges

11th May 2018 The following has been adapted from a chapter Towards Mining Vision 2030, by Joel Netshitenzhe, ANC NEC member and executive director of the Mapungubwe Institute for Strategic Reflection (Mistra) in a book on The Political Economy of Mining in South Africa, to be published in 2018 by Mistra. 

To succeed as a ‘sunrise industry’, SA mining must widen ownership, meet other challenges

Positive sentiment remains, despite 8.4% y/y fall in March mining production

By: Simone Liedtke     10th May 2018 The 8.4% year-on-year decrease in South Africa’s mining production in March is not necessarily an accurate reflection of the state of the mining industry, says international law firm Hogan Lovells mining head Warren Beech. He hopes that figures will have “smoothed out by June or July”, as at... 

Positive sentiment remains, despite 8.4% y/y fall in March mining production
Hogan Lovells mining head Warren Beech

Butcherbird proves up for Montezuma

By: Esmarie Iannucci     10th May 2018 A scoping study into the Butcherbird manganese project, in Western Australia, has indicated an economically and technically viable project, owner Montezuma Mining said. The company told shareholders that the scoping study supported Montezuma’s aim to complete feasibility study work at the... 

Agarwal encouraging Anglo to accentuate South Africa link

By: Martin Creamer     9th May 2018 Indian mining billionaire Anil Agarwal is encouraging Anglo American – in which he now holds more than 21% – to accentuate its link with South Africa, where the Vedanta Resources company he founded and chairs is successfully turning to highly positive account the zinc assets that Anglo walked... 

Agarwal encouraging Anglo to accentuate South Africa link
Photo by Dylan Slater
Anil Agarwal (right) and Martin Creamer

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