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Iron Ore News

Chamber of Mines hopes to embark on new era rebranding as Minerals Council South Africa

By: Nadine James     23rd May 2018 The Chamber of Mines has rebranded and is now the Minerals Council South Africa (MCSA) in line with its quest to reposition the sector as South Africa’s  preeminent industrial sector, while building a new legacy and creating a “future that all South African can be proud of,” MCSA president... 

Gamsberg producing by mid-year – Vedanta

By: Martin Creamer     23rd May 2018 The Gamsberg zinc project in South Africa’s Northern Cape is on track with production expected by the middle of this year, the London-listed, India-rooted Vedanta Resources said on Wednesday, when it reported higher revenue and profits and lifted its dividend yield for the year to 6%. Current... 

Gamsberg producing by mid-year – Vedanta
Photo by Dylan Slater
Vedanta chairperson Anil Agarwal

Kumba banks on technology investment, exploration to secure its future growth

By: Nadine James     23rd May 2018 Kumba Iron ore is seeking to strengthen its position by integrating and investing in new technologies to optimise performance and recovery, while pursuing value-accretive opportunities, through exploration and diversification, CEO Themba Mkhwanazi told media during a site visit to the Sishen... 

Kumba banks on technology investment, exploration to secure its future growth
Photo by Creamer Media
Kumba Iron Ore has integrated and further invested in new technologies for advanced process control, among others.

Vale boss prefers giving away windfall to avoid sins of the past

By: Bloomberg     21st May 2018 Vale, once the most generous dividend payer among major mining companies, may be poised to regain that status with its chief executive officer nearing debt targets and unwilling to hoard cash or rush into deals. Like others in the industry, the biggest producer of iron ore and nickel cut... 

Company believes commodities will regain positive momentum

18th May 2018 The commodities markets have been taken aback by rising uncertainties, including an early February equity market sell-off and the trade conflict between the US and China. As the second quarter unfolds, some of these uncertainties should be easier to interpret, however, price volatility and... 

Company believes  commodities will regain positive momentum
Photo by Bloomberg
GROWTH POSSIBILITY Despite some market uncertainty, the global economy is expected to grow at its fastest pace since 2011

Congo billionaire seeks French loan to develop iron-ore railway

By: Bloomberg     17th May 2018 Paul Obambi, a billionaire investor in the Congo Republic, is in talks with French lenders to fund a railway he’s building to export iron-ore. Obambi’s company Sapro SA is negotiating with “a consortium of banks” to finance the 450-km track that will link the southwestern town of Mayoko to a... 

Atlas flags up to A$100m impairment on lower grades, higher costs

By: Esmarie Swanepoel     17th May 2018 Iron-ore miner Atlas Iron has warned of a A$75-million to A$100-million noncash impairment charge for 2018, as iron-ore grades declined and costs increased. Atlas on Thursday told shareholders that it remained on track to ship between nine-million and ten-million tonnes of iron-ore during the... 

Short spell of mining hope dashed – Lorimer

By: Martin Creamer     16th May 2018 The short spell of hope for South Africa’s beleaguered mining sector, which burst forth with the election of Cyril Ramaphosa as President, has been dashed, Shadow Mineral Resources Minister James Lorimer said during the mineral resources budget debate. Applying the ‘learning nothing and... 

Short spell of mining hope dashed – Lorimer
Shadow Mineral Resources Minister James Lorimer

Beowulf raises £1.5m for graphite and magnetite projects

By: Creamer Media Reporter      16th May 2018 Exploration company Beowulf Mining has raised £1.5-million for general working capital purposes and to support its graphite and magnetite activities. The proceeds were raised at 5p a share, said Beowulf, which owns the Kallak magnetite iron-ore project and the Åtvidaberg polymetallic exploration... 

Fortescue seeks to replicate Pilbara success in South America

By: Esmarie Swanepoel     16th May 2018 Iron-ore miner Fortescue Metals is reportedly looking to replicate its iron-ore success from the Pilbara, in Argentina. Celebrating ten years of iron-ore exports from the Pilbara, Fortescue founder and chairperson Andrew Forrest said on Tuesday that the company was looking at early stage... 

Mantashe prioritises policy, laments ‘inadequate’ budget allocation

By: Marleny Arnoldi     15th May 2018 The Department of Mineral Resources (DMR) will make policy and legislation one of its key priorities this year and has committed to finalising the Mining Charter in June, Minister Gwede Mantashe said on Tuesday. Mantashe, who tabled the DMR’s Budget Vote in Parliament, listed the department’s... 

Mantashe prioritises policy, laments ‘inadequate’ budget allocation
Photo by Creamer Media
Mineral Resources Minister Gwede Mantashe

Sanctions to have limited impact on Iran’s mining industry – BMI

By: Creamer Media Reporter      15th May 2018 The re-imposition of US sanctions on Iran will have only a limited impact on the country’s mining and metals industry in the short term and is expected to do “little additional damage to an industry already crippled by a myriad of domestic operational challenges”. This is according to BMI... 

NSL raises A$10m for expansion

By: Esmarie Swanepoel     14th May 2018 India-focused NSL Consolidated will raise A$10-million to expand production at its Kurnool wet beneficiation plant. The company on Monday announced that more than 714.2-million shares will be issued at 1.4c each. More than 650.6-million of these shares would be placed under existing capacity,... 

Thor Explorations aims to lead Nigeria's new mining pack

By: Reuters     14th May 2018 Canada-listed junior miner Thor Explorations aims to bring Nigeria's first large-scale gold mine online in early 2020, its CEO said, as the West African country seeks to diversify its economy away from oil and gas. Following the commodity price crash of 2015/16, the World Bank in April 2017 said... 

Allen Morgan steps down from Kumba board

By: Nadine James     11th May 2018 Allen Morgan on Friday stepped down as lead independent nonexecutive director of Kumba Iron Ore. During Kumba’s annual general meeting (AGM), on Friday, chairperson Dr Mandla Gantsho thanked Morgan for his “immense contribution and dedication to the board and the company. 

ArcelorMittal studies lower grade iron-ore project in Liberia

By: Mariaan Webb     11th May 2018 With mining having started at the new Gangra direct shipping ore (DSO) deposit in Liberia, global steel and mining major ArcelorMittal is taking another look at the lower grade resources at its Tokadeh mine. The company has started a feasibility study to assess the optimal concentration solution... 

Positive sentiment remains, despite 8.4% y/y fall in March mining production

By: Simone Liedtke     10th May 2018 The 8.4% year-on-year decrease in South Africa’s mining production in March is not necessarily an accurate reflection of the state of the mining industry, says international law firm Hogan Lovells mining head Warren Beech. He hopes that figures will have “smoothed out by June or July”, as at... 

Positive sentiment remains, despite 8.4% y/y fall in March mining production
Hogan Lovells mining head Warren Beech

Agarwal encouraging Anglo to accentuate South Africa link

By: Martin Creamer     9th May 2018 Indian mining billionaire Anil Agarwal is encouraging Anglo American – in which he now holds more than 21% – to accentuate its link with South Africa, where the Vedanta Resources company he founded and chairs is successfully turning to highly positive account the zinc assets that Anglo walked... 

Agarwal encouraging Anglo to accentuate South Africa link
Photo by Dylan Slater
Anil Agarwal (right) and Martin Creamer

Indian iron-ore production at 7-year high, but unsold low-grade stocks pile up

By: Ajoy K Das     8th May 2018 Indian iron-ore production has touched a seven-year high of 210-million tons during 2017/18, but industry is facing a piquant situation of a mounting stockpile of unsold carryover low grade iron-ore lumps and fines. Official state-wide production figures are yet to be compiled for last financial... 

Biggest miner says China's shift to quality iron-ore will hold

By: Bloomberg     7th May 2018 BHP Billiton, the world’s biggest miner, forecasts reforms in China’s steel sector will continue to hand an advantage to suppliers of higher-quality iron-ore and coking coal as consumption of the alloy keeps growing well into the next decade. Steel mills are likely to retain about two-thirds of... 

Glencore first foreign firm to trade iron-ore futures after China opens market

By: Reuters     4th May 2018 Global trader Glencore carried out the first trade by a foreign firm for Chinese iron-ore futures on Friday, the first day that the Dalian Commodity Exchange opened the contract to overseas investors, the exchange said. Iron-ore is the second commodity China has opened to outside investors... 

Aussie mines cashing in as Chinese enviro crackdown shifts demand to high-grade iron-ore

By: Esmarie Swanepoel     4th May 2018 A renewed focus on environmental reforms and the accelerated restructure of its steel industry has resulted in a shift change in China’s iron-ore demand, with high-grade ores being given preferential treatment over their low-grade counterparts. The Australian Department of Industry, Innovation... 

Aussie mines cashing in as Chinese enviro crackdown shifts demand to high-grade iron-ore

Feasibility into zinc smelting, refining in Northern Cape

By: Martin Creamer     2nd May 2018 A feasibility study into the development and construction of a zinc smelter-refinery complex in the Northern Cape is under way, London-listed India-based Vedanta subsidiary Vedanta Zinc International (VZI) said on Wednesday. This is the latest step in the unfolding of what is envisaged as a major... 

Feasibility into zinc smelting, refining in Northern Cape
Photo by Creamer Media
Zinc project at Gamsberg, Northern Cape.

Vale unsure if New Caledonia nickel operations will continue

By: Reuters     26th April 2018 Brazil's Vale hopes to find a partner for its struggling New Caledonia nickel mine by the end of the year but it is not clear if the world's largest nickel producer will continue nickel operations there, executives said on Thursday. A day after first quarter results showed a 36% slump in profit,... 

Goa iron-ore mines in legal uncertainty over mine closure plans

By: Ajoy K Das     26th April 2018 Iron-ore mines in the western Indian province of Goa, which were closed under a Supreme Court order, have been caught in a legal grey area relating to implementation of mine closure plans. As per regulations, every mine that closes down has to comply with mine closure plans approved by the... 

Vale’s Q1 earnings slump despite record sales volumes, as price tumbles

By: Henry Lazenby     26th April 2018 Brazilian diversified miner Vale – the world’s largest producer iron-ore – has reported a bigger than 36% drop in profit attributable to shareholders for the three months ended March 31. The Rio de Janeiro-based multinational blamed a 12.4% slide in iron-ore prices to $66.41/t in the period for... 

N American oil & gas, mining sectors released a third of total 2013 pollution – report

By: Henry Lazenby     25th April 2018 A new report that fine-combed the national pollutant release and transfer registers (PRTRs) of Canada, the US and Mexico to explore pollutant data reported by industrial facilities, has pointed to the critical need to standardise the way information is collected across the three jurisdictions,... 

N American oil & gas, mining sectors released a third of total 2013 pollution – report

China's shrinking steel stockpiles seen giving iron-ore a boost

By: Bloomberg     24th April 2018 Falling steel inventories in China point to an improving outlook for iron-ore through the rest of this half, according to one of the world’s top exporters of the raw material. While demand for iron ore has been slower to rebound after Lunar New Year celebrations than in recent years, steel... 

Kumba on track to meet FY guidance after stable Q1 performance

By: Nadine James     24th April 2018 Kumba Iron Ore says it is on track to meet its full-year production guidance of 30-million to 31-million tonnes of iron-ore, on the back of a stable performance in the quarter ended March 31. Kumba’s production increased by 4% year-on-year to 10.86-million tonnes, driven by a 26% year-on-year... 

Fortescue production falls in March quarter

By: Esmarie Swanepoel     24th April 2018 Severe weather conditions and planned maintenance has seen iron-ore miner Fortescue Metals decrease production during the three months to March. The miner on Tuesday reported that 41.6-million tonnes of ore were mined during the quarter, compared with the 47.5-million tonnes in the previous... 

BHP, Vale given a further 66 days to resolve Samarco dam failure dispute

By: Henry Lazenby     23rd April 2018 A Brazilian federal court has given mining giants BHP and Vale an additional 66 days to resolve a multibillion-dollar settlement regarding their joint venture Samarco mine’s tailings dam failure in 2015, that killed 19 people and is billed as the country’s worst environmental disaster. BHP and... 

Hawsons granted Major Project status

By: Esmarie Swanepoel     23rd April 2018 The Hawsons iron project, in New South Wales, has been granted Major Project status by the federal government. ASX-listed project developer Carpentaria Exploration told shareholders that the elevation to this select status was expected to provide a smoother and potentially faster approvals... 

Koolan Island economics improve on reserve increase

By: Esmarie Swanepoel     20th April 2018 Iron-ore miner Mount Gibson has reported a more than 50% increase in the ore reserves at its Koolan Island project, off the coast of Western Australia. The ASX-listed company on Friday said that the main deposit ore reserve had increased to 21-million tonnes, grading 65.5% iron, extending the... 

Union workers reject Rio-owned IOC offer

By: Henry Lazenby     18th April 2018 The United Steelworkers Union (USW) Local 5795/6731, in Labrador City, rejected the latest labour offer proposed by Rio Tinto’s majority-owned Iron Ore Company of Canada (IOC) and the USW negotiations teams. The union represents about 1 400 workers of whom 90% voted in favour of downing tools... 

Altus raises C$4.11m in private placement

By: Creamer Media Reporter      18th April 2018 Aim-listed Altus Strategies has raised about C$4.11-million by way of a nonbrokered private placement of 27.39-million units at C$0.15 each. Each unit is comprised of one ordinary share and one ordinary share purchase warrant that may be used to buy one ordinary Altus share at C$0.30 for five... 

Pallinghurst delivers satisfactory FY17 performance

By: Natasha Odendaal     17th April 2018 Dual-listed Pallinghurst Resources has concluded what it called a “transformational year”, after successfully transitioning into an evergreen operating mining company during the year ended December 31, 2017. The group, which is listed on the JSE and the Bermuda Stock Exchange, on Tuesday posted... 

Pallinghurst delivers satisfactory FY17 performance
Photo by Creamer Media
Pallinghurst CEO Arne Frandsen

After setbacks, Anglo American counting on turnaround for Minas-Rio mine

By: Reuters     17th April 2018 Two leaks in a month, a 90-day outage and $58-million in fines is not enough to temper Anglo American's ambition for its long-delayed, multi-billion dollar Minas-Rio iron-ore mine in Brazil. Purchased at the height of the commodities boom a decade ago for $5.5-billion, Anglo American was once... 

After setbacks, Anglo American counting on turnaround for Minas-Rio mine

Atlas' iron output continues to fall

By: Esmarie Swanepoel     17th April 2018 Iron-ore miner Atlas Iron has reported another fall in sales volumes during the three months to March, as wet weather and the closure of the Abydos mine impacted production. Atlas shipped 2-million tonnes of ore during the March quarter, down from the 2.2-million tonnes shipped in the December... 

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