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Iron Ore News

Karara partners secure $1.5bn refinancing

By: Esmarie Swanepoel     Updated 2 hours 31 minutes ago The shareholders of the Karara iron-ore project, in Western Australia, have secured a $1.5-billion refinancing facility for the project. ASX-listed Gindalbie Metals, which holds a 47.84% share in the project, reported on Monday that the refinancing facility had been used to repay all outstanding... 

Western Australia extends helping hand to Atlas

By: Esmarie Swanepoel The Western Australian government on Friday extended a helping hand to struggling iron-ore miner Atlas, with Mines and Petroleum Minister Bill Marmion announcing that he had extended the government’s royalty assistance programme to the miner. Atlas would receive support in the form of a 50%... 

Western Australia extends helping hand to Atlas

Fortescue's Forrest vows to maintain iron-ore campaign

By: Esmarie Swanepoel Chairperson of iron-ore major Fortescue Metals, Andrew Forrest, has vowed to continue with his campaign against multinational companies operating in the Pilbara, despite the government taking a decision not to pursue an inquiry into the iron-ore sector. Treasurer Joe Hockey on Thursday... 

Metalloinvest swings to $177m Q1 net profit

By: Reuters MOSCOW – Russia's biggest iron-ore producer Metalloinvest swung to a net profit of $177-million in the first quarter of 2015, the company reported on Thursday. Metalloinvest, owned by Russia's third richest man Alisher Usmanov, reported a net loss of $542 million dollars for the last three months... 

No Australian iron-ore inquiry - Treasurer

By: Esmarie Swanepoel Federal Treasurer Joe Hockey on Thursday announced that a decision had been taken not to initiate a Senate inquiry into the Australian iron-ore sector. Hockey said that the decision was taken after discussions with regulatory bodies and stakeholders across the resources sector. 

No Australian iron-ore inquiry - Treasurer

Aus Asia finds funding to support Solok development

By: Esmarie Swanepoel Minerals developer Aus Asia Minerals has executed a $5-million funding facility with TCA Global Credit Master Fund to finance its Solok iron-ore project, in Indonesia, to full production. The facility provided for the immediate draw-down of $375 000 as part of a secured revolving loan agreement.... 

Indian PM breathes life into Posco’s stalled project

By: Ajoy K Das South Korean steel major Posco’s plans for securing iron-ore resources for its $12-billion Indian investments have been thrown a lifeline through the intervention of Indian Prime Minister Narendra Modi. The project, which has been hanging fire for over a decade, was given a nudge following the... 

Chamber reveals plan to get South Africa’s ‘great mining industry’ back on front foot

By: Martin Creamer The Chamber of Mines of South Africa on Wednesday revealed a strategic plan to get South Africa’s “great mining industry” back on the front foot. Speaking at the well-attended 125th annual general meeting (AGM) of the historic organisation, chamber president Mike Teke – who was re-elected for a... 

Chamber reveals plan to get South Africa’s ‘great mining industry’ back on front foot
Photo by Duane Daws
Chamber president Mike Teke (right) having a word with his vice-president Graham Briggs.

Sundance adds to Mbalam reserve and resources

By: Esmarie Swanepoel Metals developer Sundance Resources has increased the high-grade hematite ore reserve for the first stage of its Mbalam-Nabeba project, in Cameroon and the Republic of Congo, to over half-a-billion tonnes. The 18.5% increase to the ore reserve, which was estimated at 517-million tonnes, grading... 

Brazil's Vale to sell 4 large iron-ore carriers to China's CMES

By: Reuters Brazilian miner Vale said on Tuesday it agreed to sell four large iron-ore carriers to China Merchants Energy Shipping Co (CMES), as it looks to raise cash in the midst of an iron-ore price slump. The world's largest producer of iron-ore said in a statement the details of the contract had not... 

Govt won't regulate iron-ore market - Macfarlane 

By: Esmarie Swanepoel Australian Industry and Science Minister Ian Macfarlane on Tuesday insisted that the government had no intention of regulating the iron-ore market, as BHP Billiton CEO Andrew Mackenzie warned that an inquiry into the sector would send a “terrible signal” to Australia’s trading partners. In an... 

Govt won't regulate iron-ore market - Macfarlane
Photo by Appea
Minister Ian Macfarlane

Tawana signs MoU for Liberia port access

By: Megan van Wyngaardt Dual-listed iron-ore miner Tawana Resources has signed a port infrastructure memorandum of understanding (MoU) with Hong Kong-based miner Wisco Cad, it said on Monday. Under the terms of the MoU, Tawana would gain access and use of Wisco’s facilities in the Port of Freeport, Monrovia, in Liberia. 

Australian PM supports ‘fair and reasonable’ iron-ore inquiry

By: Esmarie Swanepoel Australian Prime Minister Tony Abbott on Monday said that any inquiry into the Australian iron-ore sector would not be allowed to turn into a ‘witch hunt’. “It is important to know what is happening in the iron-ore sector. There are claims and counterclaims being made at the moment. I think it... 

Australian PM supports ‘fair and reasonable’ iron-ore inquiry

Fortescue launches ‘Our Iron Ore’ campaign against BHP, Rio

By: Esmarie Swanepoel Iron-ore major Fortescue Metals has launched a public campaign against multinationals operating in the Pilbara, urging “concerned Australians” to sign a petition. Fortescue said on Sunday that the Our Iron Ore campaign aimed to be a rallying point for Australians concerned by the impact of... 

Gindalbie halts share trading on funding talks

By: Esmarie Swanepoel ASX-listed Gindalbie Metals went into a trading halt on Monday, as the company announced it was negotiating a long-term financing transaction. The embattled iron-ore miner has been working to cut back on costs as its Karara joint venture (JV), in Western Australia, which was yet to meet its... 

Vale secures $3bn credit line

By: Reuters Brazilian miner Vale said on Friday it secured a $3-billion revolving credit facility for a term of five years. The credit line, which was signed with a group of 24 global banks, replaces a previous facility for the same amount secured in 2011. 

Australian PM backs Senate probe into iron-ore slump

By: Reuters Australian Prime Minister Tony Abbott on Friday threw his support behind a proposed Senate inquiry into the economic impact of a slump in the price of iron-ore, ratcheting up pressure on top producers Rio Tinto and BHP Billiton. Leading independent senator Nick Xenophon on Thursday pulled a vote... 

Australia bumps up China iron-ore exports despite weak prices

By: Esmarie Swanepoel Despite the significant fall in iron-ore prices and the continued insistence of an oversupply in the market, Australia’s iron-ore exports to China increased by 18% during the first quarter of 2015, compared with the previous corresponding period. The Department of Industry and Science revealed... 

Atlas Iron hatches plan to keep Pilbara mines running

By: Esmarie Swanepoel Iron-ore miner Atlas Iron on Friday revealed plans to cut-back operating costs in an effort to keep its Pilbara mines afloat. Atlas in April announced plans to progressively suspend mining operations in the Pilbara as the iron-ore price crashed. However, the miner later announced that operations... 

Atlas Iron hatches plan to keep Pilbara mines running

WA lowers Utah Point export costs

By: Esmarie Swanepoel The Western Australian government on Friday announced a price relief at Port Hedland’s Utah Point bulk handling facility to assist junior miners in exporting iron-ore while facing a slump in commodity prices. Transport Minister Dean Nalder said that effective from July 1, port charges would be... 

Global glut threatens West African iron-ore ambitions

By: Reuters Red piles of iron-ore and rusting railway wagons in the deserted stockyard at the port of Pepel bear silent witness to a crisis engulfing Sierra Leone's mining industry and threatening others across West Africa. The conveyor belt out to the jetty on the slow-moving Rokel river has remained idle... 

Global glut threatens West African iron-ore ambitions
Tonkolili mine

Ferrum Crescent on the cusp of completing Moonlight BFS

By: Megan van Wyngaardt The £500 000 of funding raised on Thursday by triple-listed Ferrum Crescent will enable the company to complete the bankable feasibility study (BFS) at its high-quality Moonlight magnetite iron-ore project, in Limpopo. The company had received applications from shareholders to subscribe for... 

Growing supply to keep pressure on iron-ore prices - BHP Billiton

By: Reuters BHP Billiton expects growth in iron ore supply to outpace demand and keep prices under pressure, a senior official said on Thursday, but added that boosting earnings will not hinge on restraining production. "We've long been advocates for free and fair markets ... our view is that's what we need... 

Gindalbie volunteers site for waste disposal

By: Esmarie Swanepoel Embattled metals miner Gindalbie Metals has volunteered a part of its tenement in Western Australia for a proposed disposal site for radioactive waste. The junior miner nominated part of its Badja station as a candidate site for the radioactive waste management facility to store Australia’s... 

BHP, Rio Tinto face political heat in Australia over strategies

By: Reuters BHP Billiton and Rio Tinto face mounting political pressure in Australia over taxes and flooding the global iron ore market while the price of the steel-making commodity plummeted. Independent federal Senator Nick Xenophon has called for an inquiry into the impact on the Australian economy of... 

BHP, Rio Tinto face political heat in Australia over strategies

Anglo iron-ore port deepening under way

By: Martin Creamer The Brazilian iron-ore port of mining company Anglo American is being deepened to increase the volume of ore that can be loaded on to the Cape-size vessels calling there. Currently, the full 180 000 t volume that Cape-size ships offer cannot be taken up because of the lack of port depth. 

Anglo iron-ore port deepening under way
Açú Port in the state of Rio de Janeiro, Brazil

Todd approaches Rutila with all-cash bid

By: Esmarie Swanepoel New Zealand-based Todd Corporation has made a play for ASX-listed Rutila Resources, offering shareholders 30c in cash for each share held. Rutila told shareholders on Tuesday that the offer represented a 100% premium to Rutila’s last trading share price, and an 80.7% premium to the 30-day volume... 

CME also dismisses call for govt intervention in iron-ore

By: Esmarie Swanepoel The Western Australian Chamber of Minerals and Energy (CME) has joined the opposition against mining entrepreneur Andrew Forrest’s call for the government to remove the ‘licence to operate’ for some miners. The Minerals Council of Australia earlier this week reprimanded Forrest for calling on... 

Koolan Island gets new lease on life - Mt Gibson

By: Esmarie Swanepoel Junior iron-ore miner Mount Gibson Iron is considering a logistics base to service the offshore oil and gas industry at its Koolan Island property. The ASX-listed company reported on Tuesday that it had entered into an agreement with logistics provider Qube Holdings, providing a framework to... 

High-quality iron-ore from Anglo’s low-cost Minas-Rio set to leverage price premium

By: Martin Creamer The iron-ore that Anglo American is producing at low cost in the hills of Conceicao do Mato Dentro is meeting growing market demand for better quality, low-contaminant ore, visiting international mining journalists heard on Monday. Minas-Rio’s pellet feed iron-ore products, which are transported... 

High-quality iron-ore from Anglo’s low-cost Minas-Rio set to leverage price premium
Photo by Bloomberg
Paulo Castellari

Minerals Council slams Forrest’s push for iron-ore intervention

By: Esmarie Swanepoel The Minerals Council of Australia (MCA) has reprimanded mining magnate Andrew Forrest for calling on the Australian government to regulate how iron-ore producers in the Pilbara should run their business. The MCA said on Monday that Forrest’s call for the government to remove the ‘licence to... 

Minerals Council slams Forrest’s push for iron-ore intervention
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