R/€ = 14.51 Change: 0.03
R/$ = 13.67 Change: 0.02
Au 1171.50 $/oz Change: 0.00
Pt 938.50 $/oz Change: -5.00

Iron Ore News

Iron Hill gets enviro nod

By: Esmarie Swanepoel     Updated 1 hour 47 minutes ago he Western Australian Environment Minister has approved ASX-listed Mount Gibson’s Iron Hill project. “We welcome this important environmental approval of the Iron Hill mine, which takes us one step closer to commencing mine development in early 2017,” Mount Gibson CEO Jim Beyer said on Friday. 

Mozambique projects in sights of tax and regulatory authorities at home and abroad

By: Keith Campbell     9th December 2016 Mozambique’s Tax Authority is monitoring the natural resources sector to ensure it collects the capital gains taxes due to it. This was affirmed by Tax Authority President Amélia Nakhare late last month. She was addressing a promotion ceremony for tax officials, at Boane in Maputo province.  

Iron-ore export duty takes centre stage ahead of India’s national Budget

By: Ajoy K Das     8th December 2016 The iron-ore export duty has moved back to the centre stage in India, with iron-ore miners calling on government to announce a lower export tax when the national Budget is unveiled on February 1. In response to the federal Finance Ministry’s invitation for input from all sectors, iron-ore miners... 

Anglo confronts messy divorce in miner’s South Africa birthplace

By: Bloomberg     8th December 2016 In 1917, Ernest Oppenheimer met with South African general and soon-to-be Prime Minister Jan Smuts to seek his blessing for a new mining company called Anglo American. Smuts wanted one assurance, the company was there for the long haul. Anglo, along with its sister company De Beers, made... 

Anglo confronts messy divorce in miner’s South Africa birthplace

The ‘weird’ commodity that’s hurting bears as prices double

By: Bloomberg     7th December 2016 Iron-ore’s probably heading for a retreat in 2017 as new mine supply comes online and a surplus builds, according to UBS Group, which acknowledged that the commodity’s recent surge was unexpected and had torpedoed an earlier forecast for a slump this quarter. “It’s just surprised me,” Wayne... 

The ‘weird’ commodity that’s hurting bears as prices double

Invicta’s Walters to join Assore as CEO

     6th December 2016 JSE-listed mining holding company Assore has appointed Charles Walters CEO, effective July 1. He will join the company as CEO designate on April 1. 

Rio Tinto’s Guinea head departs amid mine-payment investigation

By: Bloomberg     6th December 2016 Rio Tinto Group’s head of operations in Guinea has left the company. Ismael Diakite, who had been in the role since 2011, said his departure from the company on December 2 was amicable though declined to offer any more details when contacted by phone in Canada. A spokesman for Rio confirmed the... 

Kumba ranked carbon disclosure leader

By: Megan van Wyngaardt     5th December 2016 Kumba Iron Ore, a business unit of Anglo American, has been named one of the carbon disclosure leaders for 2016 by Engaged Tracking (ET) Index Research – the only company from the Brazil, Russia, India, China and South Africa grouping on the list. In its yearly ‘ET Carbon Rankings’, released on... 

KIOCL makes headway in securing iron-ore for its pellet plants

By: Ajoy K Das     5th December 2016 Indian iron-ore pellet producer KIOCL, formerly Kudremukh Iron Ore Company Limited, is poised to strike key deals in securing new iron-ore sources across the country. As a primarily iron-ore pellet producer without a captive iron-ore access source, new sources are key to its long-term survival... 

Kumba expects higher FY earnings

By: Natasha Odendaal     2nd December 2016 JSE-listed Kumba Iron Ore expects an 20%-plus increase in earnings for the year to end December 31, owing to an increase in export iron-ore prices during the year and the weaker average rand:dollar exchange rate. The group, which will release its financial results on February 14, expects headline... 

Brazil and Australia to drive industry growth

     2nd December 2016 Global iron-ore production growth is set to become stagnant owing to contracting output by high-cost iron-ore producers in China, while output growth in Australia, Brazil and India will remain positive enabled by a pipeline of expansion projects by major miners, notes market researcher BMI... 

Brazil and Australia to drive industry growth
MAJOR MINERS EXPANDING Brazil's iron-ore sector is expected to continue to outperform in terms of production growth over the coming years

Iron-ore consumption dependent on population and economic development

By: Kimberley Smuts     2nd December 2016 The biggest potential for growth in the iron-ore industry lies with countries in the ‘Next 20’, which refers to the 20 growing non-Bric bloc developing economies, including Indonesia, Pakistan, Bangladesh, Mexico, Philippines, and several sub-Saharan African nations, including Nigeria, Ethiopia,... 

Iron-ore consumption dependent on population and economic development
Photo by Anglo American
INDUSTRY REQUIREMENTS REMAIN Lack of infrastructure remains the biggest hindrance to growth in African iron-ore projects

SA mines urged to quickly to benefit from technology innovations

By: David Oliveira     2nd December 2016 South Africa’s mining industry needs to move quickly to take advantage of the opportunities and mitigate the risks inherent in the onset of disruptive technology innovations to remain competitive, advises management consultancy Datta Burton & Associates (DBA). DBA partner Aaron Burton tells... 

South African iron-ore industry remains weak

By: Kimberley Smuts     2nd December 2016 Stagnating growth in China and low domestic demand continue to pressure the iron-ore mining industry in South Africa, which needs a coordinated approach by government and the private sector to attract investment, states privately-owned consultancy Core Consultants. Political uncertainty and... 

South African iron-ore industry remains weak
LARA SMITH It is not clear if the commodity super cycle will return in the near or medium term, but there are signs of improvement and some acquisition activity

Vale says expects judge to approve Samarco settlement soon

By: Reuters     1st December 2016 Vale, the world's top iron-ore producer, said a judge was soon to ratify a settlement with the Brazilian government regarding its Samarco iron-ore joint venture with BHP Billiton. General Counsel Clovis Torres told investors and analysts at a presentation in London that it "should not take long"... 

SAIL to double iron-ore production of its Bolani mine

By: Ajoy K Das     1st December 2016 Steel Authority of India Limited (SAIL), the country’s largest integrated steel producer, will double the production capacity of its Bolani iron-ore mine in the eastern Indian province of Odisha. The capacity of the mine will be ramped up to ten-million tons a year over the next four years from... 

Goa iron-ore mines slow to resume production

By: Ajoy K Das     30th November 2016 Optimism over getting more than 40 iron-ore mines in the western Indian province of Goa to resume operations is fast receding. Despite an announcement two months ago that 40 iron-ore mines will resume operations as monsoon rains were over, mines are slow in getting back into production. 

CITIC aims to cut costs at Sino Iron project, ramp up output

By: Reuters     30th November 2016 CITIC Pacific Mining's Sino Iron project in Western Australia is ramping up production and expects to export more than 10-million tonnes this year, its chairman said on Tuesday, adding the goal was to become the world's lowest cost producer. Chairman Zhang Jijing of CITIC Pacific Mining, a... 

Vale to refinance $2bn of debt next year: CFO

By: Reuters     30th November 2016 Brazilian miner Vale plans to refinance around $2-billion of debt next year, CFO Luciano Siani said on the sidelines of the company's investor day in New York on Tuesday. Vale, rated Ba3/BBB-/BBB, will focus on debt coming due in 2018, though not all of that would be refinanced with the sale of... 

Ore rally, cost cuts giving Vale breathe to rethink asset sales

By: Reuters     29th November 2016 Vale, the world's No 1 iron-ore producer, is taking advantage of recent gains in mineral and metal prices and successful cost-cutting steps to rethink the pace of an asset sale plan to bring down debt, executives said on Tuesday. Higher ore recovery and price realisation may help Vale generate... 

Rio seeks iron-ore premium from China mills in likely pricing war revival - sources

By: Reuters     29th November 2016 Australian miner Rio Tinto is asking Chinese steel mills to pay a premium for its highest grade iron ore product for the first time since an annual pricing system collapsed in 2010, two sources familiar with the situation said. The demand by the world's No. 2 iron-ore miner comes as Chinese... 

Capital expenditure to continue downward trend

By: Henry Lazenby     29th November 2016 Despite a modestly more buoyant outlook for key metal prices, mining capital expenditures (capex) are expected to continue on a downward slide over the next three years as miners seek further cost cuts and to improve operational margins, according to analysis by Fitch Group research arm BMI.... 

Capital expenditure to continue downward trend

Discredited DMR making ill-considered demands on struggling industry

By: Martin Creamer     25th November 2016 The Department of Mineral Resources (DMR) is making ill-considered demands that have little hope of being met. Instead of following the continent’s African Mining Vision and Zambezi Protocol, the DMR is going out on a dictatorial limb. 

Discredited DMR making ill-considered demands on struggling industry
Photo by Duane Daws
Chamber of Mines CEO Roger Baxter and Chamber of Mines Senior Executive Public Affairs and Transformation Tebello Chabana

Sundance finds funding while the hunt for partners continues

By: Esmarie Swanepoel     25th November 2016 Iron-ore developer Sundance Resources has secured A$1.3-million in new funding, and extended the maturity date of its existing A$95-million convertible notes by two years. The ASX-listed company on Friday reported that it had executed a term sheet with Senrigan Master Fund and geologist David... 

BHP extends $115m to Samarco for remediation work

By: Esmarie Swanepoel     25th November 2016 Mining major BHP Billiton has extended a $115-million short-term facility to its joint venture with iron-ore (JV) major Vale in Brazil, to carry out remediation and stabilisation work to support the Samarco operations. BHP said on Friday that the funds would be released to Samarco only as... 

BMI ‘moderately positive’ about mining’s near-term future

By: David Oliveira     25th November 2016 The overall view for the global mining industry in the coming years is “moderately positive”, owing to the ongoing fiscal spending on construction, mostly driven by China, BMI Research mining and metals commodities analyst Mitchell Hugers said during a teleconference earlier this month. “Chinese... 


By: Creamer Media Reporter      25th November 2016 Turnkey laboratory solutions provider Tramecon services mining projects worldwide from its wholly owned Randburg facility, comprising two mini factories covering 400 m2. The company further supplies South Africa-based product logistics monitoring for a Democratic Republic of Congo (DRC) client... 


Fortescue gains EPA approval for Solomon mine extension

By: Esmarie Swanepoel     24th November 2016 The Western Australian Environmental Protection Authority (EPA) has recommended the approval of iron-ore miner Fortescue Metals’ plans to extend the Solomon iron-ore project, in the Pilbara, for a further 35 years. The proposed extension includes new mining areas in the Castle Valley and... 

Rio Tinto says Simandou payments scandal 'very challenging' 

By: Reuters     24th November 2016 Rio Tinto CEO Jean-Sébastien Jacques said on Thursday that the fallout from its discovery of payments in Guinea has been "very challenging", in his first public appearance since the scandal erupted. Speaking at Rio's annual investment day seminar, Jacques also committed the world's number two... 

Rio Tinto says would cut iron-ore output if that boosted value 

By: Reuters     24th November 2016 Rio Tinto would not hesitate to cut its iron-ore production if that would help boost its free cash flow and the company is not chasing market share, its chief executive said on Thursday. "If it means reducing volume, we'll do it," CEO Jean-Sébastien Jacques told analysts at a briefing in Sydney. 

DMR appointment causes concern

By: Martin Creamer     23rd November 2016 Mineral Resources Minister Mosebenzi Zwane has controversially made a key appointment within the Department of Mineral Resources (DMR) on the grounds that it is only temporary.   Earlier this month, the Democratic Alliance (DA) Shadow Minister of Mineral Resources, James Lorimer MP, requested... 

DMR appointment causes concern
DA Shadow Minister of Mineral Resources James Lorimer MP

Equatorial Resources aims to invest $1.2bn in Congo iron project

By: Reuters     23rd November 2016 Africa-focused Australian mining company Equatorial Resources Ltd will aim to invest around $1.2-billion to develop its Badondo iron-ore project in Republic of Congo, the company said. John Welborn, a non-executive director of Equatorial Resources and chief executive of its Congolese unit Congo... 

Anglo productivity up 40%

By: Martin Creamer     23rd November 2016 Mining company Anglo American, which has reduced the number of assets in its portfolio from 68 in 2012 to 42 now, is producing more product from those 42 assets than it was from the 68. As a consequence, the product produced per person is currently 40% higher than it was four years ago. 

Anglo productivity up 40%
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Cairn Hill readies for restart

By: Esmarie Swanepoel     23rd November 2016 The South Australian government has given privately owned Cu-River Mining Australia some A$397 000 in funding to assist with the restart of the Cairn Hill iron-ore mine. The funding, in the form of a grant through the Regional Development Fund, was expected to assist in creating more than 60... 

Cairn Hill readies for restart

Samarco licensing moving forward despite fines, regulator says

By: Bloomberg     23rd November 2016 Samarco’s quest to obtain permits for resuming its Brazilian iron-ore operations is progressing despite environmental fines and a court order, with a mid-2017 restart still possible, the state licensing agency said. The venture owned by BHP Billiton and Vale, which halted work a year ago after a... 

Aussie midtier miners survived the worst and are making a comeback

By: Creamer Media Reporter      22nd November 2016 A turning point appears to have been reached for Australian midtier miners, as improvements in dividend payout, market capitalisation, cash flow from operations and capital expenditure (capex) point to an industry rebound. However, challenges still lie ahead for ASX-listed miners with a market... 

Aussie midtier miners survived the worst and are making a comeback

Degree of optimism coming from Atlas board

By: Mariaan Webb     21st November 2016 Iron-ore junior Atlas Iron’s strengthened financial and operational position has sparked a “degree of optimism” among board members, chairperson Eugene Davis said on Monday. Atlas has substantially reduced its costs in recent years by entering into collaboration agreements with its contractors,... 

Temer said to seek new Vale CEO in Brazil shareholder talks

By: Bloomberg     21st November 2016 Brazil’s government has decided to push for a new CE for iron-ore giant Vale when the current boss’s contract expires next year, according to people with knowledge of the matter. President Michel Temer ceded to months of lobbying from members of his own Democratic Movement Party to seek a... 

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