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Iron Ore News

Glencore commits to migrating first world safety to third world countries

By: Martin Creamer Diversified major Glencore, which reported 16 fatalities last year, has committed itself to migrating first-world safety practices into challenging geographies where more than 80% of the deaths took place. The London-, Hong Kong- and Johannesburg-listed company’s SafeWork programme – in which 118... 

Big Four squeeze gathers pace as more iron-ore flows into saturated market – CRU

By: Simon Rees Iron-ore prices will remain in the doldrums for 2015 as senior producers continue to bring new, low-cost output into the market, CRU group director of multi-commodity, knowledge and information Paul Robinson told an audience at the Prospectors & Developers Association of Canada. Stemming from... 

Big Four squeeze gathers pace as more iron-ore flows into saturated market – CRU

African Minerals' lender takes control of iron ore project holding companies

By: Reuters African Minerals said its lender has taken control of two holding companies that own a majority stake in the companies that operate its sole project, the Tonkolili iron-ore mine in Sierra Leone. The miner said on Tuesday it is seeking legal advice on the move by Shandong Steel Hong Kong Zengli. 

Glencore transitioning into deficit in most commodities – Glasenberg

By: Martin Creamer Diversified major Glencore was transitioning into deficit in most of the commodities it produced, CEO Ivan Glasenberg said on Tuesday. Glasenberg, who has presided over returning $9.3-billion to shareholders in dividends and buybacks since 2011, told analysts and media in teleconferences in which... 

Glencore transitioning into deficit in most commodities – Glasenberg
Photo by Duane Daws
Ivan Glasenberg

Marketing hoists Glencore over low commodity price hurdle

By: Martin Creamer Diversified major Glencore has managed to scale the low commodity price hurdle with significant help from its marketing arm. The London- Hong Kong- and Johannesburg-listed company, which produces and markets 93 commodities, went against the grain with its surging agricultural business yielding... 

Marketing hoists Glencore over low commodity price hurdle
Ivan Glasenberg

MCA slams AWU resolution calling for probe into iron-ore cartel

By: Esmarie Swanepoel The Minerals Council of Australia (MCA) has criticised the Australian Workers Union’s (AWU’s) resolution demanding a Parliamentary inquiry into majors BHP Billiton and Rio Tinto’s iron-ore practices in the Pilbara. At its conference in the Gold Coast, the AWU passed a resolution condemning the... 

MCA slams AWU resolution calling for probe into iron-ore cartel

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Canadian fed and Ontario govts unveil supports for mining industry

By: Henry Lazenby Several federal departments of the Canadian government, as well as the Ontario provincial government, unveiled new measures and investments on Sunday to increase support and drive growth in the country's besieged mining industry. In a speech to the Prospectors & Developers Association of Canada,... 

Canadian fed and Ontario govts unveil supports for mining industry
Photo by Reuters
Canadian Finance Minister Joe Oliver

Iron Road pushes CEIP resource to 4.5bt

By: Esmarie Swanepoel Junior developer Iron Road has increased the mineral resource estimate at its Central Eyre iron project, in South Australia, by 22%, to about 4.5-billion tonnes, grading 16% iron. The ASX-listed company noted that about 3.5-billion tonnes, or 77% of the mineral resource, was classified as... 

Australian iron-ore juniors hurting, some majors reviewing expenditure plans as prices slump

By: Esmarie Swanepoel The recent free fall in the iron-ore price to its lowest level in six years has struck a deathblow to a number of Australian juniors operating in the sector, while the majors have been forced to cut back costs. Commodity analyst Wood Mackenzie (WoodMac) blamed the lagging commodity price on a... 

Australian iron-ore juniors hurting, some majors reviewing expenditure plans as prices slump

Australian iron-ore juniors hurting, some majors reviewing expenditure plans as prices slump

By: Esmarie Swanepoel The recent free fall in the iron-ore price to its lowest level in six years has struck a deathblow to a number of Australian juniors operating in the sector, while the majors have been forced to cut back costs. Commodity analyst Wood Mackenzie (WoodMac) blamed the lagging commodity price on a... 

Australian iron-ore juniors hurting, some majors reviewing expenditure plans as prices slump

Vale shares down after Q4 loss, missing analyst forecasts

By: Henry Lazenby The NYSE-listed stock of the world’s largest iron-ore producer, Brazil’s Vale, on Thursday trended lower after the diversified miner reported a significant fourth-quarter net loss, as the collapse of the steelmaking commodity’s price weighed on its bottom line.  Despite narrowing the net loss for... 

Vale shares down after Q4 loss, missing analyst forecasts

Odisha mines hit classification roadblock towards auction

By: Ajoy K Das Iron-ore mines across the eastern Indian province of Odisha would not be ready for auction for a number of years, despite the federal government’s intentions to start the process by mid-2015. According to a provincial government official, the Mines and Minerals (Development and Regulation)... 

Centaurus raises cash for DSO projects

By: Esmarie Swanepoel Metals developer Centaurus Metals has raised A$1.1-million through a share placement to professional and sophisticated investors, with the miner also announcing plans to raise a further A$3.5-million through a non-renounceable rights issue. Centaurus placed some 44-million shares, priced at 2.5c... 

South32 catalyst for next wave of productivity gains – BHP Billiton

By: Martin Creamer Mining giant BHP Billiton, which pulled a free cash flow rabbit out of the thrashed commodity price hat in the six months to December 31, intends the spinoff of South32 to be the catalyst for the new wave of productivity gains in the period ahead “because if you keep doing the same thing, you... 

South32 catalyst for next wave of productivity gains – BHP Billiton
Photo by Duane Daws
Peter Beaven

BC profits fall as Nullagine strikes clay

By: Esmarie Swanepoel ASX-listed BC Iron reported an after-tax net loss of A$96.3-million during the six months ended December 31, as the price of iron-ore continued to decline and the miner faced difficult operating conditions at its Nullagine joint venture (JV), in Western Australia. The first-half earnings... 

Atlas aims to save extra A$20m in 2015

By: Esmarie Swanepoel Iron-ore miner Atlas Iron on Tuesday flagged further cost savings for 2015, with MD Ken Brinsden saying that the company was demonstrating significant skills and resilience to deal with the volatility in the iron-ore market. The miner had previously targeted cost savings of between A$75-million... 

Posco seeks PM intervention to keep investment plans alive

By: Ajoy K Das South Korean steel major Posco is hoping to meet with Indian Prime Minister Narendra Modi for an intervention to secure iron-ore resources for its $12-billion steel plant project in India, hanging fire for over a decade. A decision on the allocation of iron-ore linkage for the proposed steel... 

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

By: Henry Lazenby Global professional services firm EY’s Canadian Mining Eye index fell 12% in the quarter ended December 31, compared with a 15% decline in the prior period. The index underperformed against the S&P/TSX Composite index, which fell 2% in the last quarter of 2014, while the London Metal Exchange... 

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

Liberian President endorses negotiation of Mofe Creek MDA

By: Natalie Greve Representing a “major” milestone and strategic step forward in the development of Tawana Resources’ Mofe Creek project, in Liberia, the company reported on Monday that Liberian President Ellen Johnson Sirleaf had officially appointed an Inter-Ministerial Concessions Committee (IMCC) to negotiate... 

Port study lowers Hawsons transport costs

By: Esmarie Swanepoel Junior developer Carpentaria Exploration on Monday flagged a near 20% reduction in the estimated supply chain costs for its proposed Hawsons iron project, in New South Wales. The company announced the successful completion of a supply chain prefeasibility study (PFS) for the Hawsons project,... 

Exxaro says to fall into FY loss on impairment

By: Reuters South African mining house Exxaro said on Friday its full-year earnings would fall to a loss mainly due to a R5.8-billion ($500-million) impairment on its iron ore project in the Congo Republic. The company said in a statement attributable losses for the year to end-December are expected to be... 

Petmin expects 49% increase in H1 earnings

JSE-listed diversified miner Petmin expects its basic earnings a share for the six months ended December 31 to increase by up to 49% to 84.45c. Headline earnings a share for the six months were expected to be between 8.35c and 8.45c, up 24% to 26% form the 6.71c recorded in the first half of the... 

Cliffs Natural Resources finalises energy agreement in Michigan’s Upper Peninsula

By: Henry Lazenby NYSE-listed Cliffs Natural Resources has finalised an interim power agreement with We Energies for its Michigan operations. The US coal and iron-ore producer on Wednesday said the agreement was one critical step in a series of expected short- and long-term agreements that were essential to the... 

Parliamentary minerals law review limited to four points

By: Martin Creamer The review of the Minerals and Petroleum Resources Development Act (MPRDA) Amendment Bill would be restricted to four recommendations and the focus would be on whether or not these passed constitutional and procedural muster, Mineral Resources Parliamentary Portfolio Committee chairperson... 

Parliamentary minerals law review limited to four points
Photo by Duane Daws
Ngoako Ramatlhodi

Centaurus hunts for new funding

By: Esmarie Swanepoel Metals developer Centaurus Metals was on the hunt for funding to implement a revised development strategy at its Candonga direct shipping ore (DSO) project, n Brazil, after resource financier RMB Resources abandoned ship. The ASX-listed company has appointed Canaccord Genuity as lead manager in... 

Mines are development engines for host countries – ICMM

By: Martin Creamer Mines are proven engines of economic development for host countries, which benefit significantly from the foreign direct investment (FDI) that mines attract as well as the export earnings that they generate, the International Council for Mining & Metals (ICMM) has found in a unique 214-country... 

Mines are development engines for host countries – ICMM
Photo by Creamer Media
Martin Creamer and Tony Hodge

Iron-ore price slump hits Fortescue’s interim profit

By: Esmarie Swanepoel Iron-ore major Fortescue Metals on Tuesday reported a significant slump in after-tax net profit for the half-year ended December on the back of decreased revenue caused by a fall in the iron-ore price. Fortescue’s realised price for the half-year nearly halved to $66/t, compared with the $124/t... 

Iron-ore price slump hits Fortescue’s interim profit

Rio confirms rail issues in the Pilbara

By: Esmarie Swanepoel Diversified miner Rio Tinto on Tuesday confirmed a rail bridge failure in the Pilbara, prompting the miner to temporarily halt rail haulage from the Brockman 2 and Brockman 4 iron-ore mines. A spokesperson for the company said a structural failure of a small section of a rail overpass, which was... 

Impairment dents Mt Gibson profits

By: Esmarie Swanepoel ASX-listed Mount Gibson Iron has swung into the red during the six months ended December, with the miner reporting a net loss after tax of A$869.8-million, compared with a net profit of A$78.3-million in the first half of 2014. The net loss comes after Mount Gibson previously flagged a non-cash... 

Opposition calls on President to back Minister on developmental pricing issue

By: Martin Creamer Amidst apparent disagreement in his Cabinet about mining policy, President Jacob Zuma needed to step in and provide leadership so that potential mining investors had certainty about South Africa’s mining policy, Shadow Democratic Alliance (DA) Mineral Resources Minister James Lorimer has urged in... 

Opposition calls on President to back Minister on developmental pricing issue
Photo by DA.org.za
James Lorimer
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