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Iron Ore News

Exxaro concludes Mayoko disposal

By: Natasha Odendaal     Updated 1 hour 3 minutes ago Diversified resources group Exxaro Resources has concluded the exit of its Congo-based iron-ore assets. The transfer of ownership of the Mayoko iron-ore project to Congolese company Sapro SA was concluded last week. The JSE-listed South African group, which acquired the project in 2012, put the... 

Rio gets approval for Western Turner Syncline

By: Esmarie Swanepoel     Updated 3 hours ago The West Australian government has given mining major Rio Tinto approval to develop its Western Turner Syncline mine. Rio was expected to spend some A$18-million on construction, with 40 jobs to be created during construction. 

Rio gets approval for Western Turner Syncline

Cash optimisation, capital access and productivity top EY’s 2016/17 business risks

By: Creamer Media Reporter      Updated 7 hours ago Capital considerations dominate the top three business risks in the mining and metals sector, according to professional services firm EY’s latest ‘Top 10 business risks facing mining and metals 2016-2017’ report. “Much like our global counterparts, Canadian mining and metals companies are facing... 

Cash optimisation, capital access and productivity top EY’s 2016/17 business risks

Brazil's Vale taps Bartolomeo to board, replacing Coutinho

By: Reuters     30th September 2016 Brazilian mining company Vale has nominated Eduardo de Salles Bartolomeo as board member, according to a securities filing Thursday. Vale said Bartolomeo will replace Luciano Galvão Coutinho, former president of state lender BNDES, who stepped down. 

Steelworkers ratify agreement with Cliffs

By: Henry Lazenby     30th September 2016 The United Steelworkers (USW) union has ratified a new three-year labour contract at US iron-ore producer Cliffs Natural Resources’ Tilden and Empire mines, in Michigan, and its United Taconite and Hibbing Taconite mines, in Minnesota. The four local unions represent about 2 000 workers under... 

China punishes coal, steel companies in overcapacity cut drive

By: Bloomberg     29th September 2016 China has punished coal and steel companies for illegal production or unsafe operations as part of the government’s efforts to reduce industrial overcapacity. Following safety checks at 4 624 coal mines, the regulator revoked the licences of 28 and halted production at 286, the National... 

China auto boom is warning to world miners facing scrap age

By: Bloomberg     29th September 2016 China is on the cusp of a scrap wave that will return metal from ageing cars and expired fridges to the supply chain in a growing threat to mining companies, according to  Chiho-Tiande Group , a top recycler, which is taking over one of the biggest and oldest names in Europe’s scrap business. The... 

Vale says expects current iron-ore price equilibrium to continue

By: Reuters     28th September 2016 Brazil's Vale, the world's largest iron-ore exporter, said on Wednesday it expects balanced supply and demand in the iron-ore market to continue with Brazil adding most of the world's new seaborne supply in 2017. Brazil will add 28-million tonnes of ore to the seaborne market in 2017, 58% of the... 

AMSA insists R2.27bn empowerment deal meets highest governance standards

By: Terence Creamer     28th September 2016 Steel producer ArcelorMittal South Africa (AMSA) has unwrapped its long-awaited R2.27-billion broad-based black economic empowerment (BBBEE) transaction, which chairperson Mpho Makwana insists meets the highest standards of probity and governance. An earlier 2010 attempt by the JSE-listed company... 

AMSA insists R2.27bn empowerment deal meets highest governance standards
AMSA's Wim de Klerk and Mpho Makwana with Likamva's Noluthando Gosa and Leslie Maasdorp

Project house DRA appoints new CEO

By: Martin Creamer     28th September 2016 Project house DRA on Wednesday announced the appointment of Wray Carvelas as its new CEO. Carvelas, who has been CEO of DRA Americas for the past five years, has served the company in various key capacities since 2001. 

Project house DRA appoints new CEO
New DRA CEO Wray Carvelas

Brazil's Samarco misses bond payment, has 30-day remedy period

By: Reuters     26th September 2016 Samarco Mineração, the Brazilian iron-ore mining joint venture that suspended operations in November following a dam disaster, missed an interest payment on a $500-million bond that was due on Monday, trustee Bank of New York Mellon said. As a result, Samarco will have 30 days to make the... 

Brazil's CSN, CBSteel in talks over ore unit stake – sources

By: Reuters     26th September 2016 Cia Siderúrgica Nacional is considering selling part of its stake in Congonhas Minérios, Brazil's No 2 iron-ore producer, to China Brazil Xinnenghuan International Investment, two people familiar with the deal said on Monday. According to the people, the Chinese mill known as CBSteel is... 

Iron giants to add 200Mt of supplies through 2020

By: Bloomberg     26th September 2016 The world’s two largest iron-ore exporters Australia and Brazil will each add about 100-million metric tons of supply through the end of the decade, boosting a global glut and hurting prices in a slump that will then force marginal miners to cut output, according to Citigroup. Shipments from... 

Iron giants to add 200Mt of supplies through 2020

Brazil's Vale has not decided on sale of fertiliser unit – filing

By: Reuters     23rd September 2016 The board of directors of Brazilian mining company Vale has not yet made a decision on selling a stake in its fertiliser unit, the company said in a securities filing on Thursday. The Rio de Janeiro-based company, the world's largest exporter of iron ore, is still looking for a strategic partner... 

Increased systemisation of logistics management needed in South Africa

By: Robyn Wilkinson     23rd September 2016 South Africa needs to focus on improving the systemisation of logistics management or risk falling behind global trends and incurring inflated costs, says research logistics team Greiner, Mendi & Associates (GMA) MD Lars Greiner. 

Investor confidence ‘concerning’, key to industry growth

By: Aarifah Nosarka     23rd September 2016 The South African mining sector needs policies that recognise the type of investment that mining demands and which reduce the risks related to investing in long-term projects to encourage investment in the sector, says Chamber of Mines (CoM) CEO Roger Baxter. He tells Mining Weekly that the... 

Investor confidence ‘concerning’, key to  industry growth
RESILIENT INDUSTRY The mining industry is the foundation on which South Africa’s industrial development was built and continues to contribute significantly to the country’s economy

Ex-limo firm, billionaires bet on iron-ore with mines, M&A

By: Bloomberg     22nd September 2016 The global iron-ore market is awash with supply and prices remain volatile, but a former Chinese limousine rental service and a billionaire New Zealand family are among producers and developers wagering new mines will be needed. Their focus is Western Australia, the industry heartland in the... 

Ontario strikes deal with Bedrock to restructure US Steel Canada

By: Reuters     21st September 2016 The province of Ontario said on Wednesday that it has signed an agreement with equity fund Bedrock Industries LP to restructure US Steel Canada, but the deal still requires approval from other stakeholders and a Canadian court. The plan, in a memorandum of understanding, must still be accepted... 

Ontario strikes deal with Bedrock to restructure US Steel Canada

Brazil’s looming wet season poses new Samarco risks, BHP warns

By: Bloomberg     21st September 2016 BHP Billiton, the world’s biggest miner, warns Brazil’s impending wet season may result in further environmental damage due to the failed Samarco dam, carrying the risk of new fines and legal claims. Work is underway to reinforce dam structures to help contain tailings as the November-to-April... 

South African ‘Mining Hall of Fame’ on way – Swanepoel

By: Martin Creamer     20th September 2016 A South African ‘Mining Hall of Fame’ is on the way. Revealing this at a pre-Joburg Indaba presentation on Tuesday, chairperson Bernard Swanepoel noted that South Africa was odd mining jurisdiction out in not having a mining hall of fame. 

South African ‘Mining Hall of Fame’ on way – Swanepoel
Photo by Duane Daws
Joburg Indaba chairperson Bernard Swanepoel

China to proceed with biggest steel merger in almost a decade

By: Bloomberg     20th September 2016 Two of China’s biggest steelmakers agreed to merge their listed units, moving a step closer to a union that would create the nation’s biggest mill and a company with the scale to rival ArcelorMittal. The publicly traded arm of Shanghai Baosteel Group, the second-biggest Chinese mill by output,... 

Iron’s 50m extra tons spell weaker price – Liberum

By: Bloomberg     20th September 2016 The world’s top iron-ore suppliers including Brazil’s Vale will add almost 50-million tons of supply in the 12 months to next June, undermining prices and feeding a global glut, according to Liberum Capital. Suppliers that also include Australia’s BHP Billiton, Rio Tinto and Gina Rinehart’s Roy... 

Vale says rail delay limits new iron-ore mine output to 75mt

By: Reuters     20th September 2016 Brazil's Vale said on Monday output from its new S11D iron-ore mine in the Amazon region will be limited to 83 percent of full capacity as efforts to preserve cash and limit transport disruptions crimp a needed railway expansion. The $14.3 billion project, Vale's biggest-ever investment, was... 

MinRes gets EPA tick of approval for Pilbara iron-ore rail project

By: Mariaan Webb     19th September 2016 Integrated mining services company and iron-ore miner Mineral Resources Limited (MRL) is making progress with its Pilbara Bulk Ore Transportation System, known as BOTS, which will transport iron-ore mined from the Iron Valley mine site, near Newman, to Port Hedland. The Western Australian... 

Brazil grants Vale licence for Amazon iron-ore mine rail branch

By: Reuters     17th September 2016 Brazil granted Vale a ten-year licence to operate a 101-km branch line connecting its $14.3-billion S11D iron-ore mine project in the Amazon jungle to the Carajas Railway, the company said in a statement on Friday. The Carajas Railway branch will allow Vale, the world's largest iron ore exporter,... 

Brazil's Coelho says Samarco may resume operations subject to conditions

By: Reuters     15th September 2016 Brazil's Samarco Mineração will be able to resume iron-ore mining operations should co-owners Vale and BHP Billiton come through with promised investments, Mining and Energy Minister Fernando Coelho said on Thursday. Samarco had operations halted last November, when a tailings dam at the mine... 

Policy environment failing South African mining – professor

By: Martin Creamer     15th September 2016 South Africa’s policy environment is failing its mining industry, which is suffering an inability to attract investment. In terms of the weighted average cost of capital (WACC), South Africa is trailing many other mining jurisdictions owing to its unstable political economy. 

Policy environment failing South African mining – professor
Photo by Duane Daws
Southern African Institute of Mining and Metallurgy mineral economics division chairperson Professor Michael Solomon

Iron-ore hits the skids as miners, banks wrangle over supply

By: Bloomberg     15th September 2016 After a stellar run in 2016, iron-ore has hit a rough patch. The prospect of a slump below $50 a metric ton is now back in view after the longest losing streak in more than five months as investors, analysts and miners spar over the impact of additional low-cost supply. 

Rinehart’s iron-ore mine won’t reach capacity this year

By: Bloomberg     15th September 2016 Billionaire Gina Rinehart’s iron-ore producer said its mine in Western Australia won’t reach full capacity this year following issues at its port and processing plant. The target of 55-million metric tons a year is now expected to be reached early in 2017, instead of late this year, Roy Hill... 

WA mining tax may risk major BHP iron-ore project

By: Bloomberg     15th September 2016 BHP Billiton, the world’s largest mining company, said a proposed tax on producing iron-ore in Australia would risk the development of a new project in the Pilbara region that may account for about a quarter of its iron output from the country. Brendon Grylls, the leader of Western Australia’s... 

BHP-Vale Brazil mine said to weigh missing next bond coupon

By: Bloomberg     15th September 2016 Samarco Mineracao is considering skipping bond coupon payments that are due as soon as this month as the stalled Brazilian iron-ore miner runs out of money, according to people with knowledge of the matter. Without knowing when it can restart mining, the venture owned by BHP Billiton and Vale is... 

First global rankings of renewables use by mining companies to be released

By: Creamer Media Reporter      14th September 2016 Renewable energy information provider to the mining industry Energy and Mines has released the initial results of the first global rankings of renewables used by mining companies, identifying that the top 21 mining companies use wind and solar energy to power their operations. The ‘Energy and... 

NUM supports striking members at Northern Cape mine

By: Megan van Wyngaardt     13th September 2016 The National Union of Mineworkers (NUM) on Tuesday said it supported employees who were striking at manganese and iron-ore junior Diro Resources’ operation, in Kathu, in the Northern Cape. The mine is said to have not paid its employees since May. 

Kumba warns of potential additional R1bn tax claim

By: Creamer Media Reporter      13th September 2016 The share price of JSE-listed Kumba Iron Ore fell by more than 5% on Tuesday morning after the company announced that it may face an additional R1-billion tax liability for the 2011 tax year. It noted that its Sishen Iron Ore Company (SIOC) subsidiary had cooperated fully with the South African... 

‘Know-nothing’ iron bears will be wrong again, Cliffs says

By: Bloomberg     13th September 2016 The largest US iron-ore producer says the bears are getting it wrong all over again. Prices will probably be sustained above $50 a metric ton as demand in China is stable and the impact of new supply won’t be as severe as forecast, according to Cliffs Natural Resources. “Those forecasts saying... 

Fortescue repays more debt

By: Esmarie Swanepoel     13th September 2016 Iron-ore major Fortescue Metals has undertaken another round of debt reduction, with the miner issuing a $700-million repayment notice for its 2019 senior secured credit facility. The company said on Tuesday that the term loan repayment would be made on September 16, and would generate interest... 

Workers at Shougang's iron-ore mine in Peru start indefinite strike

By: Reuters     12th September 2016 Workers at iron-ore miner Shougang Hierro Peru, a unit of China's Shougang Group , started an indefinite strike Monday to demand better wages, the mine's union leader said. The stoppage at Shougang's mine in southern Peru, which produced 7.3-million tonnes of iron last year, began at 08:00 local... 

Mining needs disruptive digital change, Electra Mining conference hears

By: Martin Creamer     12th September 2016 The mining industry, which has a past of intervening with key technologies at critical times, is currently at an important leverage point that requires disruptive change. Envisaged is that disruptive change will be supported by the interaction of people, process and technology and definitely not... 

Mining needs disruptive digital change, Electra Mining conference hears
Photo by Duane Daws
Telstra Mining Services head Jeanette McGill
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