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Iron Ore News

Metals investors look for miners to cut supplies to lift prices

By: Reuters Investors in industrial metals will keep a close watch on miners' results in coming weeks for possible announcements of production cutbacks that could bolster weak prices. "What will be very important over the next few weeks is whether we start to see some supply responses emerging during the... 

Bohm to join Tawana board, expects to add value to Mofe Creek

By: Megan van Wyngaardt JSE-listed Tawana Resources appointed Michael Bohm to its board as an independent nonexecutive director, effective August 1. “We are delighted that Bohm has joined the board and recognise the extensive corporate and project development skills he brings to the role, with the particular emphasis of... 

Australia mining shares tumble as iron ore price at two-month low

By: Reuters Shares in Australia's biggest iron-ore miners tumbled on Friday, after the price of the steel making raw material hit the lowest in more than two months amid further evidence of growing shipments to China. Iron ore for immediate delivery to China stood at $55.80/t, its weakest since late April,... 

China to lift ban on entry of miner Vale's mega-ships

By: Reuters China said on Friday it will allow 400 000-deadweight tonne (dwt) ships to dock at its ports, officially ending a more than three-year ban that had effectively shut out Brazilian miner Vale SA's giant vessels. Four domestic ports - Qingdao, Dalian, Tangshan Caofeidian and Ningbo - will be allowed... 

Iron-ore portfolio expanded with highly prospective project

Iron-ore company Centaurus Metals announced it has taken the first step towards expanding its direct shipping ore (DSO) business in south‐east Brazil, after securing an option to acquire 100% interest in a portfolio of highly prospective tenements with extensive DSO mineralisation. 

Iron-ore portfolio expanded with highly prospective project
HIGH GRADE SAMPLES The itabirite samples returned high grades with low levels of impurities

Rejected mine water plan deprived 7 000 of jobs – Robinson 

By: Martin Creamer The rejection of a still-workable mine water and slimes dam plan at the stricken Grootvlei gold mine on Gauteng’s East Rand deprived 7 000 squatter camp dwellers of employment and set the mine on its downward trajectory, which has arguably ended up as the harshest aspect of the Aurora liquidation... 

Rejected mine water plan deprived 7 000 of jobs – Robinson
Photo by Daune Daws
Dr RE (Robbie) Robinson (right) and Martin Creamer

ArcelorMittal Mexico unit to slash 2 800 jobs

By: Reuters ArcelorMittal, the world's largest producer of steel, will cut 2 800 jobs at its Mexico unit as global prices slump, it said in a joint statement with local competitors on Wednesday, while accusing Russia, China and Turkey of dumping steel on markets at levels below production costs. Altos Hornos... 

ArcelorMittal Mexico unit to slash 2 800 jobs

Work with govt to simplify mining policy – Rossouw

By: Martin Creamer The time had come for the private sector to start making it clear that it wished to work with government to simplify mining policy and collaborate towards less regulation and greater implementation. “Step up and get involved in providing meaningful information and honest comment,” thought leader... 

Work with govt to simplify mining policy – Rossouw
Photo by Duane Daws
Mike Rossouw

All three Atlas mines up and running as Mount Webber resumes operations

By: Mariaan Webb Iron-ore miner Atlas Iron has restarted mining operations at its Mount Webber mine, in the Pilbara, and said on Wednesday that processing would resume in mid-July. Mount Webber was the last Atlas mine to resume operations in the Pilbara and with all three its mines now back in production, the... 

All three Atlas mines up and running as Mount Webber resumes operations

Cameroon govt to fund Mbalam-Nabeba port, rail infrastructure

By: Creamer Media Reporter ASX-listed Sundance Resources has entered into a transition agreement with the Cameroon government that would see the government fund the port and rail infrastructure required for the Mbalam-Nabeba iron-ore project in that country. The Mbalam-Nabeba project, which included the Mbarga and Nabeba... 

Flinders and Balla Balla JV to scrap alliance agreement

By: Creamer Media Reporter The alliance agreement between iron-ore developer Flinders Mines and members of the Balla Balla joint venture (JV), Rutila Resources and Todd Minerals, will not be extended beyond the end of the year. The agreement, which was signed in March 2014, would have provided Flinders’ Pilbara Iron Ore... 

Assore warns of lower FY earnings amid lower iron, manganese prices

By: Creamer Media Reporter JSE-listed mining holding company Assore expects its attributable earnings for the year to June 30 to decline to between R1.23-billion and R1.5-billion, from R4.01-billion in the prior financial year. Headline earnings were expected to fall to between R1.7-billion and R2.08-billion, from... 

Australia cuts 2015 iron-ore price forecast by 10%

By: Reuters Australia on Tuesday cut its price forecast for iron-ore in 2015 by 10% to $54.40/t, citing a weak outlook for the commodity's main market, China's steel sector. The forecast by the Department of Industry and Science is a sharp decrease from the $60.40/t predicted three months ago and is way off... 

Australia cuts 2015 iron-ore price forecast by 10%

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok

By: Martin Creamer The time had come for government and business to find ways and means of working together to end South Africa’s current economic stagflation crisis, United Nations Commission for Africa (UNCA) mineral value chain lead consultant, anti-apartheid struggle veteran and former African National Congress... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok
ANC MP Ben Turok

Chamber of Mines’ Sangqu appointed to Kumba board

By: Natasha Odendaal Anglo American South Africa executive head Andile Sangqu has been appointed as a nonexecutive director of Kumba Iron Ore, effective Monday. Representing shareholder Anglo American, the current Chamber of Mines VP would serve as a member of Kumba’s risk committee and the social, ethics and... 

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

Venture to keep Riley on hold until iron-ore prices improve

By: Megan van Wyngaardt Australia’s Federal Court has dismissed an appeal against the previous court decision to uphold the Federal Minister’s approval of ASX-listed iron-ore miner Venture Mineral’s Riley direct shipping ore (DSO) mine, in Tasmania. The decision effectively delivered Venture unencumbered environmental... 

Flinders, Todd deal gains FIRB approval

By: Natasha Odendaal ASX-listed Flinders Mines and New Zealand-based The Todd Corporation have been given the green light to move forward with their option and sale agreement of the Pilbara iron-ore project (PIOP), in Western Australia. Flinders MD Ian Gordon on Friday said that the Foreign Investment Review Board... 

NSL signs beneficiation MoU with Indian firm

By: Natasha Odendaal After six years spent developing and refining an India-focused iron-ore strategy, along with the requisite beneficiation technologies, ASX-listed NSL Consolidated has cemented its ties with India’s State-owned Andhra Pradesh Mineral Development Corporation (APMDC) through a memorandum of... 

Workers at Australia's Roy Hill iron-ore mine face pay cuts

By: Reuters Workers at the $10-billion Roy Hill iron-ore mining project owned by Australian billionaire Gina Rinehart face a drop in salaries as a way of preserving jobs as the sector reels from low commodity prices. Iron-ore prices have slumped as much as 70% since construction of the mine began four years... 

Workers at Australia's Roy Hill iron-ore mine face pay cuts

Vale expects to raise $1.5bn from asset sale in Brazil

By: Reuters Brazilian miner Vale could raise about $1.5-billion through the sale of a stake in one of its Brazil-based assets, a senior executive said on Wednesday. Vale, the world's largest producer of iron-ore, is scrambling to raise cash to shore up its finances in the midst of a price slump in the raw... 

Fortescue welcomes Australia’s involvement in Asian Infrastructure Investment Bank

By: Mariaan Webb Iron-ore miner Fortescue Metals has welcomed Treasurer Joe Hockey’s announcement on Wednesday that Australia would become a founding member of the Asian Infrastructure Investment Bank (AIIB). Hockey has committed to contributing A$930-million as paid-in capital to the bank over the next five... 

Rutila wins Ministerial approval for Pilbara rail and conveyor project

By: Mariaan Webb Western Australian Environment Minister Albert Jacob has given his approval for a 160 km railway line and a 40 km conveyor system to link the Pilbara Iron Ore Project (PIOP), being developed by Flinders Mines, with the proposed Balla Balla Infrastructure (BBI) port, in the Pilbara. The approval... 

Centrex to impair iron-ore assets as it shifts focus to potash

By: Creamer Media Reporter Metals developer Centrex Metals will write down the noncash carrying value of its South Australian iron-ore portfolio and shift its focus to the development of the Oxley potash project, in Western Australia. The ASX-listed company on Wednesday said the recent volatility in spot and long-term... 

Asic takes Padbury Mining to court over Oakajee funding announcement

By: Mariaan Webb The Australian Securities and Investment Commission (Asic) has started civil penalty proceedings against Padbury Mining and two of its directors over a bungled $6-billion funding announcement for the Oakajee port and rail project, in Western Australia. The civil action in the Federal Court of... 

SA’s rail revitalisation ambitions lauded as more opportunities arise

By: Natasha Odendaal US Secretary for Transportation Anthony Foxx has lauded South Africa’s rail revitalisation efforts as State-owned Transnet and US-based General Electric (GE) developed one of the “best localisation case studies”. Speaking at a US State delegation tour of Transnet’s Koedoespoort locomotive... 

SA’s rail revitalisation ambitions lauded as more opportunities arise

India's Mines Ministry keen to get auctions going but provinces not ready

By: Ajoy K Das The India federal government is keen to set the ball rolling for the auction of mineral resources in the current financial year, but provincial governments are not ready yet. Two of the critical issues are an inability to fix the floor and reserve price and the contention of several local... 

Brazil's Usiminas intends to cancel iron-ore shipment contract

By: Reuters Brazilian steelmaker Usiminas intends to cancel its iron-ore shipment contract with the Sudeste Port, a private terminal near Rio de Janeiro, the port said on Friday. The statement did not say how much Usinas Siderurgicas de Minas Gerais, as the company is formally known, had agreed to export... 

Dust from abandoned Cliffs' mine casts pall over eastern Canadian town

By: Reuters Heavy dust clouds blowing from Cliffs Natural Resources' abandoned Wabush iron-ore mine into a small township in the eastern Canadian province of Newfoundland and Labrador is putting a focus on the liability of miners that seek creditor protection and walk away from assets. Iron-ore and coal... 

Flinders suspends BFS activities at Pilbara Iron Ore

By: Creamer Media Reporter Iron-ore developer Flinders Mines said on Friday it had suspended the bankable feasibility study (BFS) activities at the Pilbara Iron Ore project, in Western Australia, until the outcome of the option agreement with the Todd Corporation was known. New Zealand’s Todd Corporation in May signed an... 

Slide in China steel snuffs iron-ore rally, revives glut worries

By: Reuters A slump in Chinese demand for steel has poured cold water on a rally in iron-ore this month, with prices for the raw material likely to drop over the rest of the year, traders and analysts said. Iron ore surged 40% from a decade-low in just over two months as dwindling stocks at China's ports... 

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