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Ferrous Metals News

Lava in lab studies could lead miners to new iron-ore deposits

By: Marleny Arnoldi     12th April 2018 A study on iron-ore deposits has found that some magmas split into two separate liquids – one of which is rich in iron – and could lead to the discovery of new iron-ore deposits.  

Mt Gibson pushes up sales in March quarter

By: Esmarie Swanepoel     12th April 2018 Junior iron-ore miner Mount Gibson has reported a 16% quarter-on-quarter increase in ore sales for the three months to March, as the company’s efforts at Iron Hill, in the Mid West, paid off. Mount Gibson sold some one-million tonnes of ore during the March quarter, generating free-on-board... 

Burkina Faso to end Timis unit's $1bn manganese deal

By: Bloomberg     12th April 2018 Burkina Faso will proceed with plans to end its agreement with a unit of Timis Mining Corp. to mine a $1-billion manganese deposit even though a dispute about the operation is still pending at the International Court of Arbitration. The West African nation will give Pan African Minerals 90-days... 

Afarak may re-domicile as it progresses Helsinki delisting plans

By: Simone Liedtke     11th April 2018 Vertically integrated specialty alloys producer Afarak is considering changing its domicile from Finland, as the company continues to advance plans to delist from the Nasdaq Helsinki Stock Exchange, leaving it with a listing on only London’s Aim. In an update regarding its delisting plans, which... 

Anglo American fined $21m for Brazil pipeline leaks

By: Reuters     11th April 2018 Brazil's environmental regulator Ibama fined Anglo American $21.1-million for two leaks in the pipeline transporting iron-ore from its Minas Gerais mine, to port in Rio de Janeiro state, the watchdog said on Tuesday. Ibama ordered Anglo American to halt mining operations after the leaks, which... 

Vision 2030 mining growth strategy under development ­– ­DMR

By: Martin Creamer     10th April 2018 A Vision 2030 for the mining industry, and a strategy for growth and competitiveness of the sector, are topics under development, the Department of Mineral Resources (DMR) said on Tuesday, when efforts to finalise and gazette the Mining Charter also intensified. In announcing that Mineral... 

Fortescue says miners have shut gates on new iron-ore supply

By: Bloomberg     10th April 2018 Global iron-ore miners have turned off the tap on adding new production capacity to feed China’s steel mills as the world’s largest customer is already awash with supplies, according to Fortescue Metals Group. “The reality is that most of the producers, ourselves included, are not actually... 

Fortescue says miners have shut gates on new iron-ore supply
Fortescue CEO Elizabeth Gaines

Atlas Iron agrees to takeover by MinRes

By: Esmarie Swanepoel     9th April 2018 Iron ore miner Atlas Iron has struck a merger deal with mining infrastructure and production firm Mineral Resources (MinRes), as the companies seek to exploit synergies between their operations. The amalgamation of the companies iron-ore mining assets in the Pilbara would enable the combined... 

World's top iron shipper says China import boom to level off

By: Bloomberg     9th April 2018 The world’s largest iron-ore exporter delivered a mixed message on the outlook, raising near-term price forecasts, but combining that revision with a more somber message that China’s gargantuan imports are set to level off as steel production eases in the coming years. Iron-ore will average... 

BME launches new emulsion brand, eyeing North American market

By: Nadine James     6th April 2018 After three decades of advancement in its emulsion offerings, South Africa-based explosives leader BME is subsuming its well-known brands such as HEF, and Megapump under the name of Innovex. According to BME ammonium nitrate-based products, equipment and services product manager Dr Rakhi Pathak,... 

Zimbabwe wants mining companies to list on local exchange

By: Bloomberg     5th April 2018 Zimbabwe wants mining companies operating in the country to list the majority of their shares on the local exchange, stirring uncertainty among investors as the nation with the world’s biggest platinum reserves after South Africa tries to bring in money to fix the economy. “No mining right or... 

Ferrexpo Q1 output dips, says refurbishment planned for Q2

By: Creamer Media Reporter      5th April 2018 Swiss-headquartered Ferrexpo has reported lower first-quarter iron-ore pellet production, with output falling by 1.5% year-on-year to 2.59-million tonnes. The first-quarter output compares with 2.62-million tonnes in the same quarter of 2017 and with 2.79-million tonnes in the preceding quarter. 

Pension fund Previ not likely to sell its Vale shares in 2018 – source

By: Reuters     5th April 2018 Brazilian pension fund Previ is not likely to sell its shares in Vale in a public offering this year, a person with knowledge of the matter said on Wednesday, a week after the iron ore miner announced a more generous dividend policy. Holding on to its full Vale stake would allow Previ to take... 

Anglo American suspends Minas-Rio for 90-day pipeline check

By: Marleny Arnoldi     3rd April 2018 Diversified miner Anglo American on Thursday evening suspended operations at its Minas-Rio iron-ore mine, in Brazil, for pipeline checks, following a minor leak.  

Anglo American suspends Minas-Rio for 90-day pipeline check
Anglo American's Minas-Rio mine in Brazil

Post-Mugabe Zimbabwe mining rush leaves big producers behind

By: Bloomberg     3rd April 2018 While Zimbabwe’s leadership change has sparked a race for the nation’s mineral riches among entrepreneurs and tiny explorers, big-name mining companies are taking a wait-and-see approach. New President Emmerson Mnangagwa has a lot to prove as he seeks to revive the economy and attract mining... 

Post-Mugabe Zimbabwe mining rush leaves big producers behind
Zimbabwe President Emmerson Mnangagwa

Cliffs to break ground on first hot-briquetted iron plant Thursday

By: Henry Lazenby     3rd April 2018 US iron-ore company Cleveland-Cliffs of Ohio expects to break ground on its first hot-briquetted iron (HBI) plant in Toledo on Thursday. The $700-million plant signals a strategic step change for the company, whose HBI product is expected to supply the growing electric arc furnace (EAF) steel... 

Port, railway workers reject Canada miner IOC's latest offer

By: Reuters     30th March 2018 A majority of 98% of workers at the Iron Ore Company of Canada's railway and port operations in Sept Iles, Quebec have rejected the miner's latest contract offer, the United Steelworkers said on Thursday, after negotiations stumbled on monetary issues. The 305 unionised employees are unhappy... 

Brazilian miner Vale to discuss new dividend policy - Valor

By: Reuters     28th March 2018 Board members of Brazilian miner Vale will discuss in a meeting on Thursday a new dividend policy, according to a Wednesday report by newspaper Valor Econômico. Under the new policy, Vale would calculate dividend payouts based on its earnings before interest, tax, depreciation and amortisation,... 

Canada to target smuggling of steel intended to dodge US tariffs

By: Reuters     28th March 2018 Canada will act to prevent the smuggling of cheap steel and aluminum into the North American market to avoid new US tariffs on the metals, Prime Minister Justin Trudeau said on Tuesday. Trudeau said this month he was aware of concerns that countries facing the tariffs could try to ship supplies... 

Champion to send off first shipment of up to 200 000 t high-grade iron-ore

By: Henry Lazenby     27th March 2018 Canadian miner Champion Iron Ore announced on Tuesday that preparations for the first shipment of high-grade iron-ore from subsidiary Quebec Iron Ore’s (QIO’s) Bloom Lake mine, in Quebec, are under way, following the arrival of the MV Magnus Oldendorff at the Port of Sept-Îles. The Montreal,... 

Merafe FD resigns

By: Creamer Media Reporter      27th March 2018 Kajal Bissessor has resigned as FD of JSE-listed Merafe Resources. She joined the company nine years ago and has played a significant role in both the finance and investor relations functions, the company said on Tuesday. 

Fortescue cuts iron-ore price expectation for FY

By: Esmarie Swanepoel     27th March 2018 Iron-ore major Fortescue Metals has cut its price expectations as Chinese construction activities are subdued and temporary steel production restrictions remain in place. The company on Tuesday amended its iron-ore price guidance to about 65% of the average benchmark Platts 62 CR index price,... 

Indian iron-ore production and imports to rise in current FY

By: Ajoy K Das     26th March 2018 Indian iron-ore production during the current financial year is expected to have grown over the previous year, and imports too are showing tentative signs of a rise. According to preliminary government data, total iron-ore production is expected to be 210-million tons at the end of March, growth... 

Rio sees $5bn copper expansion on track amid Swiss probe

By: Bloomberg     26th March 2018 Rio Tinto Group has yet to be contacted by Swiss authorities over a bribery investigation related to Mongolia’s giant Oyu Tolgoi copper and gold mine and the site’s $5.3-billion expansion remains on track, according to the producer’s top executive. The attorney general of Switzerland is... 

Rio sees $5bn copper expansion on track amid Swiss probe
Rio Tinto CEO Jean-Sebastien Jacques

Rio Tinto sees iron-ore market staying balanced through 2019 – exec

By: Reuters     23rd March 2018 Rio Tinto expects the global iron ore market to stay balanced through 2019 despite a likely moderation in steel demand growth in China, the world's biggest steel consumer, a senior executive said on Friday. "I think the iron-ore market is pretty well balanced...We don't see remarkable change in... 

Trump temporarily excludes EU, six other allies from steel tariffs

By: Reuters     23rd March 2018 US President Donald Trump has temporarily excluded six countries, including Canada and Mexico, and European Union states from higher US import duties on steel and aluminum meant to come into effect on Friday. In a Presidential proclamation published late on Thursday, Trump said he would suspend... 

Transnet renews manganese contract with South32

By: Marleny Arnoldi     22nd March 2018 State-owned Transnet and diversified miner South32 on Thursday signed a seven-and-a-half-year manganese export capacity allocation (Meca) contract, allowing for the transportation of 2.6-million tonnes a year of export manganese and realising almost R10.4-billion in total value for Transnet.  

Transnet renews manganese contract with South32
South32 South African manganese operations VP Lucas Msimanga, South32 commercial operations VP Kgabi Masia and Transnet new business chief officer Gert de Beer

BHP sees limited impact on steel market from US new tariffs

By: Reuters     22nd March 2018 Global miner BHP anticipates planned new US steel import tariffs will have a limited impact on both the steel market and the firm, and doesn't foresee a chain reaction from other countries, a senior official said on Thursday. "I think direct impact on steel is quite marginal because the United... 

Ferrexpo hikes dividend, sees better demand this year

By: Reuters     22nd March 2018 Iron-ore pellet producer Ferrexpo announced a record dividend on Wednesday as earnings jumped on stronger demand from the steel industry. The London-listed firm, the third largest exporter of pellets, said 2017 underlying earnings before interest, tax, depreciation and amortisation (EBITDA)... 

Ferrexpo hikes dividend, sees better demand this year

Deloitte launches Intelligent Mining Solution to encourage digital transformation

By: Nadine James     22nd March 2018 Advisory firm Deloitte has launched an Intelligent Mining Solution that illustrates how digital transformation in mining can address legacy industry challenges, improve safety and enable the required step change in performance. Deloitte collaborated with several technology business partners to... 

Cheaper iron-ore finding plenty of buyers in China, miner says

By: Bloomberg     22nd March 2018 Low-grade iron-ore that has fallen out of favour with many of China’s steelmakers is still in demand as mills keep buying the cheaper product, according to a junior Australian supplier. BCI Minerals is selling all it’s lower-grade product at normal rates, CEO Alwyn Vorster said Thursday in an... 

Vital flags cost savings at Watershed

By: Esmarie Swanepoel     22nd March 2018 An independent review into the Watershed tungsten project, in far north Queensland, has reduced the expected capital costs from A$172-million to A$105.8-million, ASX-listed Vital Metals reported on Thursday. The review considered proposed modifications to the plant design, layout, site access,... 

Goa iron-ore mine closure triggers protests and violence

By: Ajoy K Das     22nd March 2018 The closure of iron-ore mines in Goa has triggered violence and widespread law and order problems at the start of the week as miners, families and workers from allied industries unleashed protests forcing the police to baton charge the crowd resulting in injuries and arrest of 11 protesters.... 

South Flank could support greater demand from Asia

By: Esmarie Swanepoel     21st March 2018 The approval of the proposed South Flank mine, in Western Australia, could supply Asia’s growing demand for higher quality iron-ore, mining major BHP’s iron-ore asset president, Edgar Basto said. Addressing the Global Iron Ore & Steel Forecast conference, in Perth, Basto noted that the ongoing... 

South Flank could support greater demand from Asia

China iron-ore, steel extends losses as lofty China inventories weigh

By: Reuters     20th March 2018 Chinese iron-ore prices fell further on Tuesday, a day after posting their biggest daily drop in almost ten months as high inventories and a weak domestic steel market pressure prices. Near-term inventory risks have dampened the outlook for steel and iron-ore prices short term, Argonaut said in a... 

ARM's Motsepe predicts successful charter, land outcomes 

By: Martin Creamer     16th March 2018 The executive chairperson of diversified black-controlled mining company African Rainbow Minerals (ARM), Patrice Motsepe, on Friday expressed the firm conviction that South Africa was in the process of reinforcing its position as a competitive mining destination through a positive Mining Charter... 

ARM's Motsepe predicts successful charter, land outcomes
African Rainbow Minerals executive chairperson Patrice Motsepe at presentation of 15% higher half-year earnings covered by Mining Weekly Online’s Martin Creamer. Photographs: Dylan Slater. Video and Video Editing: Darlene Creamer.

African Rainbow Minerals ups earnings, declares dividend

By: Martin Creamer     16th March 2018 Diversified black-led mining company African Rainbow Minerals (ARM) on Friday announced a 15% increase in headline earnings for the six months to December 31 to R1 945 million. This increase was mainly as a result of improved headline earnings from the manganese division, ARM Coal, Modikwa... 

Gaps in measures against mineral resource misreporting

By: Nadine James     16th March 2018 Addressing delegates at a seminar at SRK’s Johannesburg office last month, corporate consultant and SRK Australia chairman Mark Noppe advised that there are still surprisingly large gaps in the assurance systems that companies use to protect against inaccuracy of reporting mineral resources and... 

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