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Miners increasingly looking to renewable energy sources to drive operational savings

By: Creamer Media Reporter Current pressures on the mining sector is driving increased interest in the cost savings and power security advantages that renewables could provide mining operations. To this end, a record number of mining leaders would meet with renewable energy and finance experts to network and share... 

ARM FY profit down 58% on lower prices

By: Reuters African Rainbow Minerals, led by CEO Mike Schmidt, posted a 58% fall in annual headline earnings on Friday reflecting lower commodity prices which forced it to shut down several manganese alloy furnaces. It said above-inflation cost increases, especially for electricity and labour, made manganese... 

ARM FY profit down 58% on lower prices
Photo by Duane Daws
ARM CEO Mike Schmidt

Free-trade pact to offer Australian miners improved access to Chinese market

By: Esmarie Swanepoel While commodity prices were in a downward slump, causing resource firms to slash costs, and in some cases curb output, Australia’s recent free trade agreement (FTA) with China was expected to offer up some relief. In June this year, the Australian government inked an FTA with its largest trading... 

Free-trade pact to offer Australian miners improved access to Chinese market

Australia's Port Hedland iron-ore exports to China soar 15% in Aug

By: Reuters Iron-ore exports to China from Australia's Port Hedland rose 15% to 33.9-million tonnes in August from July, as BHP Billiton and Fortescue Metals Group operated at maximum production rates despite a softening market, figures released on Thursday showed. The August increase over July sent total... 

Rio targets further cost cuts in the Pilbara

By: Esmarie Swanepoel Mining giant Rio Tinto on Thursday revealed a push to further drive down operational costs across its Pilbara iron-ore operations. Speaking in Sydney, Rio Tinto iron-ore CEO Andrew Harding said more than 400 initiatives were under way across the Pilbara operations to identify further cost savings... 

Rio targets further cost cuts in the Pilbara

Trafigura buys iron mines from MMX, ships first ore from Sudeste

By: Reuters Swiss trading house Trafigura said on Wednesday it has agreed to buy two iron-ore mines from MMX Sudeste Mineracao, the Brazilian mining firm run by fallen tycoon Eike Batista and under bankruptcy protection. Trafigura did not give the price, but said in an email that under the deal, it would... 

Brazil's Vale says receives $1.08bn for MBR stake sale

By: Reuters Brazilian mining firm Vale said on Tuesday that it has received $1.08-billion from the sale of a 36.4% stake in its Minerações Brasileiras Reunidas subsidiary, which was announced in July. 

Iberian advances Cehegin project as iron-ore continues to face strong headwinds

By: Simon Rees TSX-V-listed Iberian Minerals has illustrated its ability to move forward despite the strong headwinds currently being faced by iron-ore producers. The Alberta-based iron-ore development company owns the Cehegin project, in Murcia, south-eastern Spain, which has garnered the attention of... 

Iberian advances Cehegin project as iron-ore continues to face strong headwinds

Atlas exec shuffle saves A$1m a year

By: Esmarie Swanepoel Iron-ore miner Atlas Iron on Tuesday announced another board shuffle as part of its ongoing strategy to reduce costs. Ken Brinsden, who was appointed as an executive director in June, after standing aside as MD, had now been appointed as nonexecutive director. 

Preferred Highveld bidder could be named this week

By: Terence Creamer Three formal bids have been received by the practitioners presiding over the business rescue of steel producer Evraz Highveld Steel and Vanadium and a preferred bidder could be named by as early as Wednesday. Business rescue practitioner Piers Marsden told Engineering News Online on Monday that... 

Preferred Highveld bidder could be named this week

AMSA moves ahead with job cuts, says recent protection will help only in longer term

By: Terence Creamer Steel producer ArcelorMittal South Africa (AMSA) announced on Monday that processes had been initiated “with immediate effect” that could result in the retrenchment of 400 people at the Vereeniging meltshop and the forge, in southern Gauteng. An “industrial footprint review” had also been... 

AMSA moves ahead with job cuts, says recent protection will help only in longer term

Mineralogy seeks $10bn in damages from Citic

By: Esmarie Swanepoel Australian miner Mineralogy has launched yet another court battle against Chinese government-owned Citic, this time launching a $10-billion claim for damages in the Supreme Court of Western Australia. “The simple fact is that Citic continues to export iron-ore concentrate from Western Australia... 

Price, jobs, investment conditions placed on beneficiaries of first round of steel duties

By: Terence Creamer The first applications for protection on several steel products were approved on Friday, with Trade and Industry Minister Dr Rob Davies confirming that duties across eight tariff subheadings would be increased to the World Trade Organisation bound rate of 10%. However, government insisted that... 

Price, jobs, investment conditions placed on beneficiaries of first round of steel duties

S Africa's trade Minister imposes steel tariffs with conditions

By: Reuters South Africa will introduce a new 10% customs duty on certain steel products, Trade and Industry Minister Dr Rob Davies said on Friday, aimed at protecting the local manufacturing industry from cheaper Chinese steel imports. Following complaints from ArcelorMittal and SAFAL Steel, Davies approved... 

S Africa's trade Minister imposes steel tariffs with conditions

BHP Billiton still bullish on China

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about BHP Billiton's bullishness on China, as well as the demerged South 32's opportunity to work with Eskom on additional coal supply. 

BHP Billiton still bullish on China

Atlas shares rise as it reports lower costs

By: Esmarie Swanepoel The share price of iron-ore miner Atlas Iron shot up by 19% on Friday on news of lower costs and increased cash flows. Atlas told shareholders that cash costs during July fell to A$55/t, from the A$66/t reported in the June quarter, as the contractor collaboration agreements implemented at its... 

Atlas shares rise as it reports lower costs

Assore earnings nose-dive amid weak iron, steel environment

By: Megan van Wyngaardt “Substantially” lower iron-ore and manganese prices and challenging operating conditions have contributed to JSE-listed Assore posting lower headline earnings and profit for the 2015 financial year. Headline earnings were down 53.3% to R2-billion, compared with R4.2-billion in the 2014 financial... 

BC Iron faces losses as iron-ore price falls

By: Esmarie Swanepoel The falling iron-ore price has resulted in junior miner BC Iron's revenues nearly halving for the financial year ended June, pushing the miner into a loss. BC Iron on Wednesday reported a net loss after tax of A$158.5-million, compared with a net profit of A$71.8-million in 2014, while revenues... 

June mining production up 4% y/y

By: Megan van Wyngaardt South Africa’s mining production rose 4% year-on-year in June, mainly owing to higher platinum-group metal (PGMs), manganese ore, diamonds and chromium ore production. Speaking to Mining Weekly Online, Statistics South Africa (Stats SA) deputy director-general of economic statistics Joe de Beer... 

June mining production up 4% y/y

Evraz Highveld bidders given week’s extension to make binding offers

By: Terence Creamer Embattled steel producer Evraz Highveld Steel and Vanadium has granted potential bidders a week’s extension for the submission of binding offers. An initial deadline of August 21 had been set, which has now been extended to August 28 at the request of the bidders. The company as well as the... 

Evraz Highveld bidders given week’s extension to make binding offers

EY’s Mining Eye index climbs for first time in a year

By: Henry Lazenby Professional services firm EY’s Canadian Mining Eye index has gained 4% during the three months ended June, recording a gain for the first time since the second quarter of 2014, compared with a 1% decline in the first quarter. The index outperformed the S&P/TSX Composite index, which slipped 2%... 

EY’s Mining Eye index climbs for first time in a year

Govt, business, labour in rare show of unity amid threat of steel jobs ‘bloodbath’  

By: Natalie Greve In a rare show of collective force, labour and business in the steel sector appear to have successfully lobbied government to back efforts to raise protection for the embattled sector by hiking import duties on steel imports to the 10% “bound rate” allowed for under South Africa’s World Trade... 

Govt, business, labour in rare show of unity amid threat of steel jobs ‘bloodbath’

India scrambles to maintain Posco investment

By: Ajoy K Das In a last ditch effort to salvage South Korean steel major Posco’s Indian project, the Prime Minister’s Office (PMO) has convened a high level meeting this week to explore every option for the grant of iron-ore resources to the steelmaker. According to an official in the Steel and Mines... 

Fortescue profit falls 88% amid lower iron-ore prices

By: Esmarie Swanepoel ron-ore major Fortescue Metals has reported an 88% fall in net profits for the financial year ended June, as lower iron-ore prices ate into profit margins. Net profit after tax for the year reached $316-million, compared with the $2.7-billion reported in 2014, while underlying earnings before... 

Diamond producer Alrosa to supply Norilsk with X-ray slurry analysers

By: Henry Lazenby A subsidiary of Russian diamond major Alrosa has won a tender to supply nickel miner Norilsk with five X-ray slurry analysers. The X-ray AR-31-NM analysers would be installed at the Talnah concentration mill, in Russia, to determine nickel, copper and iron concentrations in concentrates and... 

Labour, business in bid to stop steel jobs bloodbath 

By: News24Wire Labour and business were scheduled to meet with government representatives in Pretoria on Friday in a bid to stem massive job losses the steel sector faces in the coming months. "The meeting was requested by labour and business amidst the looming jobs loss bloodbath" in the steel sector, said the... 

Labour, business in bid to stop steel jobs bloodbath
Photo by Duane Daws
Numsa general secretary Irvin Jim

Rio Tinto to ship 20% more iron-ore to China in 2015

By: Reuters Australian mining giant Rio Tinto expects to deliver 240-million tonnes of iron-ore to China this year, up from 200-million tonnes in 2014, the company's China MD told reporters on Friday. The miner has driven down its production costs to $16.20/t this year, $2 lower than a year ago, enabling it... 

Fortescue reserves inch up

By: Esmarie Swanepoel Iron-ore major Fortescue Metals has reported an increase in its iron-ore reserves, which includes a maiden magnetite ore reserve. Hematite reserves increased from the 2.37-billion tonnes reported in June 2014, to 2.4-billion tonnes as at June 30, this year, while hematite resources decreased... 

Evraz Highveld looks to sell Mapochs mine for $10m

By: Megan van Wyngaardt Integrated steel and vanadium slag producer Evraz Highveld Steel & Vanadium is seeking to sell its subsidiary Mapochs Mine for $10-million to a buyer that will facilitate the rescue of the Limpopo-based mine. A number of preferred bidders were selected in July and due diligence would be finalised... 

Evraz Highveld looks to sell Mapochs mine for $10m

Arrium swings to net loss

By: Esmarie Swanepoel Falling iron-ore prices have resulted in ASX-listed Arrium Mining and Materials reporting a net loss after tax of A$1.9-billion for the financial year ended June, compared with a net profit of A$205.4-million in 2014. The net loss included a A$1.79-billion asset impairment and restructuring... 

Mt Gibson pummelled in FY2015

By: Esmarie Swanepoel Junior iron-ore miner Mount Gibson Iron swung into red during the 2015 financial year, as iron-ore prices fell and the miner was forced to cut back production following the failure of a seawall at its Koolan Island operation in December 2014. An underlying loss of A$13.9-million was reported,... 

Tawana submits scoping, ESIA terms of reference reports

By: Creamer Media Reporter Dual-listed Tawana Resources has submitted a scoping report and terms of reference report for an environmental- and social-impact assessment (ESIA) for its Mofe Creek project to the Liberia Environmental Protection Agency (EPA) for review. Once the terms of reference report was approved by the... 

Lack of takers for Goa iron-ore clogs all stockyards

By: Ajoy K Das While iron-ore mining in the western Indian province of Goa is poised to resume within a month, there are no takers for the raw material, leading to the stockpiling of old inventories and a space crunch for new production. According to a Goa government official, of the total 15-million tonnes of... 

Fortescue shares rise amid media speculation of Chinese deal

By: Esmarie Swanepoel Iron-ore miner Fortescue Metals saw a slight increase in its share price on Tuesday as media reports emerged that the miner was considering a A$2-billion deal over its Chichester hub, in the Pilbara region. It was reported that two State-owned Chinese entities were in separate talks with the... 

Brockman warns of massive impairments

By: Esmarie Swanepoel ASX-listed Brockman Mining on Tuesday warned of an asset impairment of some HK$1.26-billion for the year ended June, owing to the falling iron-ore price. The impairment charged related to the company’s Western Australian iron-ore assets, as well as its mining right in China. 

West Pilbara capex estimate cut by A$1.5bn

By: Esmarie Swanepoel The joint venture (JV) partners over the West Pilbara iron-ore project had identified a A$1.5-billion, or 25%, reduction in preliminary capital costs required for the development of the project. A 2012 study estimated that the Stage 1 operation would require a capital investment of A$5.7-billion. 

Mt Gibson's reserves tumble

By: Esmarie Swanepoel Iron-ore miner Mount Gibson has reported a massive decline in its iron-ore reserves estimate following a seawall failure at its Koolan Island operation, in December 2014. The company's ore reserves were now estimated to be 7.1-million tonnes, grading 58.4% iron, compared with the previous... 

Brazil court orders Vale to halt Amazon nickel-mine operation

By: Reuters A Brazilian federal court on Friday ordered Vale to halt activity at its Onça Puma nickel mine, in Brazil's Amazon state of Pará, until it can demonstrate what actions it has taken to compensate indigenous communities in the region. Vale's operations in Pará face regular legal and protest action... 

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