http://www.miningweekly.com

Global Mining News in real time

Iron Ore News

NRW wins A$140m Rio contract

By: Esmarie Swanepoel Project house NRW Holdings has been awarded a A$140-million contract from mining major Rio Tinto at the Nammuldi iron-ore mine, in Western Australia. The scope of the contract included the construction of mine haul roads, ore stockpiles, waste dumps and other mine infrastructure, as well as... 

Creamer Media publishes Real Economy Insight: Iron-Ore 2015 brief

This six-page brief is a synopsis of key developments in the iron-ore sector over the past 12 months, including details of the global and South African iron-ore markets, as well as prospects for the secto 

Creamer Media publishes Real Economy Insight: Iron-Ore 2015 brief

Speculators show global commodities rout still not over

By: Reuters Speculators have confirmed what everyone else has been thinking: expect more falls in commodities, as worries about China and higher interest rates combine with waning sentiment to suggest markets are heading further south. But while more losses are certain, their scope could be limited because... 

Weak commodities to weigh on rand, current account and growth 

By: Terence Creamer The sharp decline in commodity prices is, on balance, negative for the outlook for the South African rand, new bank research shows, with lower oil prices being more than offset by lower mineral and metals prices. Standard Bank head of South African research Walter de Wet highlights that crude oil... 

Weak commodities to weigh on rand, current account and growth

Australia's Roy Hill iron-ore mine said to be facing short delay

By: Reuters The start-up of the $10-billion Roy Hill iron-ore mine under construction in Australia has been postponed until the second week of October because of bad weather and safety problems earlier this year, according to a media report. The mine, 70% owned by Australian billionaire Gina Rinehart's... 

Odisha government submits new plans to salvage Posco investment

By: Ajoy K Das South Korean steel major Posco might be packing up its $12-billion steel mill project in India; however, the provincial government of Odisha is making a last ditch effort to prevent it, offering the Korean company raw iron-ore material. The provincial government had been in frantic... 

Atlas shares fall 70% as trading resumes

By: Esmarie Swanepoel The share price of iron-ore miner Atlas Iron tumbled nearly 70% on Monday as the company resumed share trading after more than three months. Atlas in April suspended share trading shortly before announcing the suspension of its operations in the Pilbara, as the iron-ore price crashed and... 

Atlas shares fall 70% as trading resumes

With metals slumping, investors seek miners that can weather storm

By: Reuters A slump in metals prices this week and worries over China's growth prospects have heightened investor scrutiny of whether mining companies have the ability to weather the storm ahead. China accounts for almost half of global copper demand, 70% of iron-ore consumption and vies with India to be... 

Jobs decline on commodity prices, mechanisation

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about Kumba Iron Ore's job cuts as well as Anglo American Platinum's results. 

Jobs decline on commodity prices, mechanisation

China continues to drive iron-ore demand

By: Dylan Stewart Despite the likely weakening of China’s demand for iron-ore, owing to the continuing decline of its real estate market and overall lower pace of urbanisation, the country’s lower projected 2015 gross domestic product was still expected to increase its mineral-demand base by about $1-trillion,... 

China continues to drive iron-ore demand
Photo by Duane Daws
DION SHANGO Miners across all metals and minerals continued to focus on core operations, reducing costs and improving capital discipline

Company pushing to bring closed lubrication system into iron-ore space

By: Dylan Stewart Over the next 18 months oil and lubrication company Shell will target the iron-ore market and introduce its bulk grease customer value proposition (CVP) through the Shell Grease Truck to various iron-ore mines in South Africa, says Shell South Africa technical manager Hentie Spangenberg. 

Company pushing to bring closed lubrication system into iron-ore space
LOADED The Grease Truck carries six containers called rockets with a capacity of 1400 kg of grease per rocket

Expected mine tonnage increases at Guinea project

By: Dylan Stewart Aim-listed exploration company Sable Mining Africa in February announced an increase in the total Joint Ore Reserves Committee- (Jorc-) compliant resource for its Nimba iron-ore project, in south-east Guinea, from 181.8-million tonnes to 205.2-million tonnes. 

Investors can consider the next generation of iron-ore, says expert

By: Dylan Stewart Once demand starts to improve and the oversupplied market corrects itself, investors may start to think about where the next generation of iron-ore will come from as gaps for future demand begin to emerge, says Sahaj Capital MD Antony Rayment. 

Investors can consider the next generation of iron-ore, says expert
Photo by Bloomberg
WORK TO DO Africa’s competitiveness in terms of iron-ore production is further significantly curtailed by a lack of infrastructure in terms of power generation, rail lines and ports

Iron-ore forward-price strategies help miner manage price tumble

Australian iron-ore company Atlas Iron announced this month that forward sales arrangements are providing it with a measure of near-term protection against iron-ore price falls while retaining some exposure to price upside.  

Iron-ore surplus will persist – consultancy

By: Dylan Stewart Australian iron-ore miners’ intentions to increase their production, slow demand from India and China, and displaced high-cost miners will continue to contribute to the long-term global surplus of iron-ore, which has halved the price of the commodity over the past two years, says mining... 

Iron-ore surplus will  persist – consultancy
LARA SMITH Some west African countries rely on iron-ore to stimulate their economies

Kumba to relocate VIU facility to Joburg

By: Dylan Stewart Mining major Kumba Iron Ore, a business unit of Anglo American, will start moving its value-in-use (VIU) facility, in the west of Pretoria, to the Anglo American technical solutions facility, near Crown Mines, in the south of Johannesburg, by the end of the year, with commissioning at the new... 

Pakistan steel company receives 73 000 t of iron-ore

In June two cargo vessels delivered a total of 73 000 t of iron-ore to Pakistan Steel Jetty for State-owned Pakistan Steel Mills (Paksteel). 

Struggling iron-ore, Ebola hurt Sierra Leone

A report by professional services business Adam Smith International, released in June, reveals that a struggling iron-ore sector and Ebola-related quarantine restrictions severely damaged Sierra Leone’s economy. 

Brazil's Vale hits second-quarter iron-ore record

By: Reuters Brazilian mining company Vale said on Thursday it produced 85.3-million tonnes of its own iron-ore in the second quarter, a record for the quarter and second highest ever for the firm. The total was 7.4% higher than the same period last year as the world's largest iron-ore producer continues to... 

‘Poor citizen’ AMSA promises to mend ways as it seeks support to save Vereeniging and company 

By: Terence Creamer South Africa’s largest steel producer ArcelorMittal South Africa (AMSA) gave notice on Thursday that it was weighing the partial or full closure of its Vereeniging Works, in southern Gauteng, and would make a decision of the plant’s future by the end of August. At the same time, CEO Paul... 

‘Poor citizen’ AMSA promises to mend ways as it seeks support to save Vereeniging and company
Photo by Duane Daws
ArcelorMittal South Africa CEO Paul O’Flaherty

AMSA H1 loss seen up to 14-fold wider

By: Reuters Africa's biggest steel maker ArcelorMittal South Africa flagged as much as 14-fold wider half-year loss on Thursday, citing tough trading conditions and higher finance costs. Steel makers across the world are suffering from weak prices due to a global oversupply of the metal. 

AMSA H1 loss seen up to 14-fold wider

Tech savvy O’Neill streaks up Anglo ladder

By: Martin Creamer Technical fundi Tony O’Neill, who put his imprimatur on game-changing technology during his short spell in South Africa, has been appointed with immediate effect to the board of Anglo American as an executive director, less than two years after taking over the company’s technology, business... 

Tech savvy O’Neill streaks up Anglo ladder
Photo by Duane Daws
Tony O'Neill

Fortescue targets further $1.4bn in cost savings for 2016

By: Esmarie Swanepoel Iron-ore major Fortescue Metals hopes to cut a further $1.4-billion in costs during 2016, by delivering on improvements in mining productivity and efficiencies. This target was in addition to the $1.6-billion of total delivered cost savings achieved between 2003 and the end of the 2015 financial... 

Fortescue targets further $1.4bn in cost savings for 2016
Photo by Bloomberg
Fortescue CEO Nev Power

BC Iron sets sights on cost reductions

By: Esmarie Swanepoel ASX-listed BC Iron's management will strongly focus on cost reductions in the near term to combat the volatile iron-ore price environment. In the three months to June 30, the Nullagine joint venture (JV), in the Pilbara, delivered 1.46-million tonnes of ore, which was in line with the previous... 

All commodity price indices to decline in 2015 – World Bank

By: Terence Creamer A new World Bank report forecasts that all main commodity price indices will decline in 2015, owing to “abundant supplies and, in the case of industrial commodities, weak demand”. The July Commodity Markets Outlook is particularly pessimistic in the outlook for metals prices, which are now... 

All commodity price indices to decline in 2015 – World Bank

Ferrum Crescent yet to receive R2m financing for BFS

By: Megan van Wyngaardt Triple-listed iron-ore developer Ferrum Crescent has not yet received the first R2-million payment by Principle Monarchy Investments (PMI) to advance work on a bankable feasibility study (BFS) for its Moonlight iron-ore project, in Limpopo. It reported on Wednesday that PMI had concluded a... 

Transnet sees record iron-ore exports in 2015/16

By: Reuters South African logistics group, Transnet, said on Wednesday lower global iron-ore prices had not hurt its rail business and it was on track to export a record 62-million tonnes of iron-ore in 2015/16. "We railed some 15.7-million tonnes against a budget (target) of 15.66-million tonnes in quarter... 

Evraz Highveld sets Aug 21 target date for binding buy-out offers

By: Terence Creamer Embattled South African steel producer Evraz Highveld Steel and Vanadium reports that it has received a number of nonbinding expressions of interest from potential investors and that “several” preferred bidders have been identified to participate in a more detailed bidding phase, which is... 

Evraz Highveld sets Aug 21 target date for binding buy-out offers

Low iron-ore price killing jobs at Kumba

By: Martin Creamer South African iron-ore major Kumba Iron Ore has taken the knife to 1 772 jobs as low iron-ore prices cut a swathe through the industry. Out of a previous complement of 572, only 221 permanent and fixed-term employees remained at head office, with the 351 head office jobs cut by the Anglo American... 

Low iron-ore price killing jobs at Kumba
Photo by Duane Daws
Norman Mbazima

Evraz Highveld moves to cut half its workforce

By: Natalie Greve After earlier this week confirming that it had temporarily ceased steel production at its steelworks, citing working capital constraints and reduced domestic demand, Evraz Highveld Steel and Vanadium on Tuesday said it had issued a proposed restructuring notice in terms of Section 189 that could... 

Evraz Highveld moves to cut half its workforce

Kumba Iron Ore earnings plunge, dividend dumped, mines rejigged

By: Martin Creamer The earnings of South African iron-ore major Kumba plummeted in the six months to June 30 accompanied by a shattering of the iron-ore price, the closing of Thabazimbi mine, a rejigging of the remaining mines and a decision not to declare an interim dividend in a company that has been a... 

Kumba Iron Ore earnings plunge, dividend dumped, mines rejigged
Photo by Duane Daws
Norman Mbazima
First
Prev
1
2 3 4 5 6 7 8 9 Next Last
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
R/€ = 13.91Change: -0.03
R/$ = 12.56Change: 0.01
Au 1097.25 $/ozChange: 1.90
Pt 987.00 $/ozChange: 4.00
 
Subscribe Now for $96
Subscribe Now for $96 Close