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Iron Ore News

No reprieve: iron-ore glut defies Samarco dam disaster

By: Reuters Premiums for iron-ore pellets - the highest-quality steelmaking raw material - have sunk this month despite the loss of a fifth of global supplies after a Brazil mine disaster, underscoring the industry's deep glut. Even a permanent closure at the flood-hit Samarco mine would be unlikely to boost... 

India’s Telangana province seeks iron-ore to ensure steel mill

By: Ajoy K Das The newly created Indian province of Telangana has stepped up scouting for iron-ore reserves to ensure the location of a three-million-tonne-a-year greenfield steel mill within its own geography. The province has identified 240 km2 and handed it over to the Geological Survey of India (GSI) for... 

BC Iron may venture outside iron-ore

By: Esmarie Swanepoel The chairperson of iron-ore miner BC Iron, Anthony Kiernan, has told shareholders that the company was considering stepping outside of the iron-ore space. Speaking at the annual general meeting, Kiernan said that among the assets that BC Iron acquired in the merger with Iron Ore Holdings at the... 

China needs higher iron price to invest offshore – Fortescue

By: Reuters Chinese investment in Australian iron ore mining is unlikely to revive until beaten-down prices for the steel raw material recover, said Nev Power, CEO of Australia's Fortescue Metals Group. Fortescue went from scratch seven years ago to the world's fourth-biggest iron ore miner with support... 

US judge dismisses Rio Tinto lawsuit against Vale

By: Reuters A US judge on Friday dismissed Rio Tinto's lawsuit accusing rival Vale and others of conspiring to misappropriate its mining rights in the Simandou region, in Guinea. Simandou has some of the world's most valuable iron-ore deposits. Rio Tinto had said in its April 2014 lawsuit that Vale had... 

Environmental approval granted for Hope Downs expansion

By: Esmarie Swanepoel The Western Australian Environmental Protection Authority (EPA) this week approved the expansion plan for the Hope Downs iron-ore mine. Mining giant Rio Tinto and its joint venture partner, Hope Downs Iron Ore, had sought approval to develop the Baby Hope deposit as an amendment to the existing... 

Mulla Mulla shows potential at Nullagine JV

By: Esmarie Swanepoel Iron-ore miner BC Iron on Friday reported that exploration at the Mulla Mulla mining areas, in the jointly held Nullagine project of Western Australia, had proven up. The Mulla Mulla area contains three prospective mining areas, which are located near the existing joint venture (JV) infrastructure. 

Tawana gets nod for environmental audit

By: Megan van Wyngaardt Signalling the next step towards completing the overall environmental permitting process for its Mofe Creek project, Liberia’s Environmental Protection Agency (EPA) has granted dual-listed iron-ore miner Tawana Resources approval for its annual environmental audit report regarding its southern... 

Australia-owned iron-ore mine in Norway files for bankruptcy

By: Reuters The Norwegian mining subsidiary of Australia's Northern Iron will file for bankruptcy on Wednesday as its $100-million debt has become unsustainable, Northern Iron told a new conference on Wednesday. Attempts to find new investors for the Sydvaranger Gruve AS mining firm, which has close to 400... 

Samarco makes emergency repairs to dams at risk as rain sets in

By: Reuters Brazilian miner Samarco said on Tuesday it is conducting real-time monitoring and emergency repairs on two of its tailings dams that suffered damage in the wake of the November 5 collapse of another dam that killed 11 and left another 12 missing. Officials of Samarco, an iron-ore venture owned by... 

Cliffs blames idling of 2 Minnesota ops on high volume of steel 'dumping' in US

By: Henry Lazenby US iron-ore producer Cliffs Natural Resources on Tuesday complained that foreign steel being "dumped" in the US negatively impacted the steel production levels of its domestic customers, which forced it to shutter two Minnesota operations and cut 450 jobs. While the United Taconite operation had... 

Despite slowing growth, China to remain key growth market for metals

By: Henry Lazenby As commodity prices touched fresh decade-lows in recent months, a look at the global macroeconomic situation reveals that, despite China being a significant part of the commodity price slump, it will remain a critically important growth market for metals for decades to come. Addressing an... 

Despite slowing growth, China to remain key growth market for metals

Link executive pay to mine safety, environment – PRI

By: Martin Creamer Executive compensation should be linked to factors other than financial performance, Principles for Responsible Investment (PRI) MD Fiona Reynolds said on Tuesday. Responding to Mining Weekly Online within the context of this month’s collapse of the tailings dam of the Samarco iron-ore mine in... 

Link executive pay to mine safety, environment – PRI
Fiona Reynolds

Brazil's Vale says Samarco costs so far exceed insurance

By: Reuters Costs and fines already incurred as a result of a deadly dam burst at an iron-ore mine in Brazil run by Samarco have exceeded insurance against civil damages, an executive for Brazilian miner Vale, which owns Samarco along with Australia's BHP Billiton, said on a Monday conference call. 

Let’s rebuild mining together – Menell 

By: Martin Creamer South Africa has done just about everything possible to make running mining businesses very difficult, despite having wonderful mineral resources and many major capitalised mining enterprises. The country is suffering from 20 years of wrongfully assuming that mining has bottomless pockets to pay... 

Let’s rebuild mining together – Menell
Photo by Duane Daws
Rick Menell

Wire producer objects to proposed increase in wire-rod protection

By: Terence Creamer Steel wire and wire products producer Hendok, of Durban, has called on ArcelorMittal South Africa (AMSA) to withdraw its application for protection on wire rod, warning that any increase in the cost of the key input material will result in a reduction of domestic output and further increase the... 

Wire producer objects to proposed increase in wire-rod protection

With lending tight, miners look to swap cash for royalties

By: Reuters A slump in mineral prices that's making it tough for miners to borrow is providing more opportunities for companies such as Anglo Pacific Group, whose business is exchanging cash for production royalties on commodities out of favour with lenders. Banks are becoming increasingly wary of lending... 

Brazil levies initial fines of $66m against mine for burst dams

By: Reuters President Dilma Rousseff on Thursday announced preliminary fines worth 250-million reais ($66.2-million) against a mine in southeastern Brazil where two dams burst, killing at least seven people and coating a two-state area with mud and mine waste. The fines, announced after Rousseff flew over... 

Virtual reality technologies gaining traction in South African mining sector

By: Ilan Solomons The use of virtual reality (VR) technologies in the South African mining industry has grown considerably over the last year, particularly on the back of the University of Pretoria (UP) opening its R50-million Kumba Iron Ore Virtual Reality Centre for Mine Design. Local software developer NxGN CEO... 

Virtual reality technologies gaining traction in South African mining sector

Anglo’s Brazil iron-ore head resigns; more management changes announced

By: Megan van Wyngaardt Diversified major Anglo American’s Brazil iron-ore division CEO Paulo Castellari has stepped down from his position to pursue other opportunities. “Castellari led the Minas-Rio project through its most critical stages over the last three-and-a-half years, ensuring the operation was delivered... 

Anglo’s Brazil iron-ore head resigns; more management changes announced
Paulo Castellari

Two leading steel re-rollers to oppose application for 10% duty on hot-rolled coil

By: Terence Creamer Two leading steel processing companies will make a submission to International Trade Administration Commission of South Africa (Itac) to voice their objection to ArcelorMittal South Africa’s (AMSA’s) application for tariff protection of 10% on hot-rolled coil (HRC). HRC is the flat-steel product... 

Two leading steel re-rollers to oppose application for 10% duty on hot-rolled coil

BHP, Vale CEOs visit Brazilian mine disaster site as toll mounts

By: Reuters The chief executives of BHP Billiton Ltd and Vale SA on Wednesday surveyed the devastation caused by burst dams at a Brazilian mine owned by the mining giants, as the human and environmental toll from the disaster mounted. Six people are confirmed killed and another 22 are missing as a result of... 

Fortescue works to clear debt

By: Esmarie Swanepoel Iron-ore major Fortescue Metals on Wednesday launched a $750-million debt repayment offer for its 2019 and 2022 senior unsecured notes. The company has offered to buy up to $750-million of its debt securities through a modified Dutch auction, and noteholders could tender their 2019 senior... 

Insurers face $600m claim in Brazil dam burst, sources say

By: Reuters Insurers covering risks for a Brazilian mine where two dams burst last week, killing at least six people, could pay up to $600-million in claims, a source with direct knowledge of the matter said on Monday. A property policy held by the dams' owner, Samarco Mineração, could cover up to... 

Anger at burst dams in Brazil focuses on Vale, mining code

By: Reuters As despair turns to anger over a deadly dam burst at a Brazilian mine, lawmakers pushed on Tuesday for tougher regulations in a new mining code and iron-ore giant Vale came under pressure to help mourning families and contain the environmental impact. In five days of rescue efforts in towns... 

Another listless year for mining belies future opportunities

By: Simon Rees China’s economic shift and the ongoing debate about a US interest rate rise continue to influence and shape the short-term future of mining and metals, Behre Dolbear senior MD Alastair McIntyre told an audience at a recent meeting of the Canadian Institute of Mining’s management and economic... 

Another listless year for mining belies future opportunities

Highveld’s future under spotlight as Evraz questions bidder's capacity to deliver

By: Terence Creamer The battle over the future of Evraz Highveld Steel & Vanadium (Highveld) has intensified with Evraz seeking to urgently interdict the business rescue process, alleging that shareholder and creditor rights have been violated. The business rescue practitioners (BRP), on the other hand, contend that... 

Highveld’s future under spotlight as Evraz questions bidder's capacity to deliver

Brazil's Vale says Samarco disaster to cut output at nearby mines

By: Reuters Brazilian mining company Vale SA said on Monday that a deadly collapse of a tailings dam at Brazil's Samarco, an iron-ore company it owns 50:50 with Australia's BHP Billiton, will cut output from two nearby mines. Iron-ore output from Vale's Fábrica Nova and Timbopeba mines will be cut by... 

AMSA adds R4.5bn rights issue to survival plan, as it warns of earnings ‘bloodbath’

By: Terence Creamer JSE-listed steel producer ArcelorMittal South Africa (AMSA) announced a whopping R4.5-billion rights issue on Friday as part of a multipronged survival package, which hinges materially on greater protection for the embattled domestic steel industry. The offer will be fully underwritten by the... 

AMSA adds R4.5bn rights issue to survival plan, as it warns of earnings ‘bloodbath’
Photo by Duane Daws
AMSA CEO Paul O’Flaherty

Kumba warns of lower FY earnings

By: Megan van Wyngaardt Owing to a significant drop in export iron-ore prices, JSE-listed miner Kumba expects its earnings for the year to December 31, to be between R2.15-billion and R2.2-billion lower than that reported for 2014. Headline earnings a share and earnings a share were also likely to be at least R6.69 to... 

Two dead, dozens missing after two dams burst in Brazil

By: Reuters Casualties from two collapsed dams at a Brazilian iron ore mine mounted on Friday as rescue teams worked through the night to find dozens missing in mudslides that devastated a village in the country's southeast. A spokesman for firefighters leading the rescue confirmed 30 injuries and at least... 

Kumba to amend ArcelorMittal supply agreement

By: Reuters South Africa's Kumba Iron Ore said on Friday it will amend its long-term pricing mechanism with ArcelorMittal South Africa and the new agreement will be based on export parity prices. The company said ArcelorMittal will be given a discount and the price will be calculated based on the... 

Kumba to amend ArcelorMittal supply agreement

Central Eyre advances – Iron Road

By: Esmarie Swanepoel ASX-listed junior Iron Road has submitted a mining lease application and supporting mining lease proposal for its Central Eyre iron project, in South Australia, along with an environmental-impact statement (EIS). The mining lease application was submitted to the Department of State Development,... 

Dam burst at Vale, BHP mine devastates Brazilian town

By: Reuters A dam holding back waste water from an iron ore mine in Brazil that is owned by Vale and BHP Billiton burst on Thursday, devastating a nearby town with mudslides and leaving officials in the remote region scrambling to assess casualties. The mining company Samarco, a joint venture between top... 

African mining retains positive outlook

By: Mia Breytenbach Africa is awaiting a “gold rush”, similar to the mineral revolution and birth of Johannesburg at the end of the nineteenth century, international law firm Hogan Lovells partner, mining head and regional head Warren Beech states. He reaffirms to Mining Weekly that the exploitation of the minerals... 

African mining retains positive outlook
TAPPING INTO THE MARKET Countries such as the US, Japan and Korea are showing increasing interest in Africa, with large investments focusing on primary metals

New cadastre to take Guinea mining to the next level

By: Malusi Mkhize   The Republic of Guinea decided to implement Spatial Dimension’s enterprise scale land management solution FlexiCadastre, as its new mining cadastre to increase the capacity and performance of government institutions in the mining sector, following an international tender process.  

Brazil's Vale cuts budget for S11D project by as much as $2.6bn

By: Reuters Brazilian miner Vale SA expects its flagship S11D iron-ore project to be completed on time and as much as $2.6-billion below budget, the company said in an analyst presentation. The cost reduction primarily reflects the dramatic devaluation of the real, which has lost about 35% to the dollar... 

Rio won’t cut iron-ore output – Harding 

By: Esmarie Swanepoel Mining giant Rio Tinto’s iron-ore CEO Andrew Harding has maintained that the company would not look to cut its iron-ore output in the Pilbara, despite declining commodity prices. “There has been a view that Australia can simply turn the iron-ore tap on and off to regulate the global,... 

Rio won’t cut iron-ore output – Harding
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