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Iron Ore News

Cleveland-Cliffs delivers 171% y-o-y increase in earnings a share

By: Marleny Arnoldi     20th July 2018 NYSE-listed Cleveland-Cliffs has increased its earnings a share from continuing operations by 171% to $0.76 apiece for the quarter ended June 30, compared with $0.28 apiece in the second quarter of 2017. The company on Friday reported consolidated revenues of $714-million, compared to the prior... 

Cleveland-Cliffs delivers 171% y-o-y increase in earnings a share

By: Marleny Arnoldi     20th July 2018 NYSE-listed Cleveland-Cliffs has increased its earnings a share from continuing operations by 171% to $0.76 apiece for the quarter ended June 30, compared with $0.28 apiece in the second quarter of 2017. The company on Friday reported consolidated revenues of $714-million, compared with the... 

Mount Gibson stays steady

By: Esmarie Swanepoel     20th July 2018 Junior miner Mount Gibson has reported another steady quarter of iron sales during the June quarter, with one-million tonnes sold for revenues of A$45-million. “It was pleasing to complete the financial year with another solid operational effort in the Mid West and excellent progress at our... 

AngloGold chairperson warns South Africa on 'reckless' mining rules

By: Bloomberg     20th July 2018 South Africa risks driving away new investment and crippling its mining sector if “reckless” new rules are implemented, according to AngloGold Ashanti chairperson Sipho Pityana. The latest Mining Charter, which is aimed at sharing the benefits of the country’s mineral wealth more equally among... 

AngloGold chairperson warns South Africa on 'reckless' mining rules
Photo by Creamer Media
AngloGold chairperson Sipho Pityana

Sedibeng Iron Ore DMS plant to feature industry 4.0 technologies

By: Nadine James     20th July 2018 ELB Engineering Services is excited to be involved in the construction and digitalisation of the 200 t/h dense media separation (DMS) plant at Sedibeng Iron Ore, near Postmasburg in the Northern Cape, says CEO, Dr Stephen Meijers. Meijers explains that the project aims to incorporate Industry 4.0... 

Sedibeng Iron Ore DMS plant to feature industry 4.0 technologies
Photo by Creamer Media
STEPHEN MEIJERS The Sedibeng digitalisation project is split into three phases, ELB is currently progressing through Phase 1

Indian iron-ore exports shifting from fines to pellets

By: Ajoy K Das     19th July 2018 Indian international trade in iron-ore is shifting to more iron-ore pellets, rather than high-grade fines, prompted by changing preferences of overseas buyers. Information and data sourced from industry indicate that overseas shipment and sales realisations of iron-ore pellets are outstripping... 

Kumba lowers FY sales, production guidance

By: Marleny Arnoldi     19th July 2018 JSE-listed Kumba Iron Ore is working closely with State-owned freight utility Transnet to secure the delivery of the contractual capacity and to mitigate derailments that affected the company’s export sales in the second quarter of the year. The company’s export sales increased by only 1% to... 

Anglo reports production growth across all commodities in Q2

By: Marleny Arnoldi     19th July 2018 Global diversified miner Anglo American reported a 6% year-on-year increase in total production on a copper equivalent basis for the second quarter. Anglo CE Mark Cutifani remarked in a statement on Thursday that higher copper and metallurgical coal production reflected the company’s consistent... 

Anglo reports production growth across all commodities in Q2
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Tawana says completes demerger of 85% of shares in Cowan Lithium

By: African News Agency      18th July 2018 Australia-based mineral exploration company Tawana Resources said on Wednesday it had completed the demerger of 85% of the shares in Cowan Lithium Limited, holding the Cowan, Yallari and Mofe Creek assets. Tawana retained 15% of the total issued shares in Cowan Lithium. 

BHP beats production expectations; warns of $650m Samarco charge

By: Esmarie Swanepoel     18th July 2018 Diversified giant BHP on Wednesday announced that the company had met or exceeded the production expectations for its commodities during the 2018 financial year, but warned of a $650-million financial impact related to the Samarco dam failure, in Brazil. “We have delivered a strong finish to the... 

BHP beats production expectations; warns of $650m Samarco charge
BHP CEO Andrew Mackenzie

BHP awards A$176m South Flank bulk earthworks contract

By: Esmarie Swanepoel     18th July 2018 Mining services provider NRW Holdings has been awarded a A$176-million contract by mining major BHP for bulk earthworks and concrete works at the South Flank project, in the Pilbara. The South Flank operation will leverage and expand on the existing Mining Area C hub, and is BHP's preferred... 

Guinea's mining minister says there will be Simandou deal, talks go on

By: Reuters     18th July 2018 Guinea is in constant talks with Rio Tinto and Chinalco to finalise a deal on the Simandou iron ore project, its mining minister said on Tuesday, adding he was confident an agreement would be reached. Rio Tinto said in October 2016 said it had signed an outline agreement to sell its major stake... 

Iron-ore beats back bears as trade fight batters commodities

By: Bloomberg     18th July 2018 Iron-ore’s become the odd man out as a spike in global trade tensions hurts commodities, with importers in top user China scooping up cargoes to feed booming mills and the government intensifying an anti-pollution drive. That’s helped benchmark prices to stay the course. While copper in London is... 

Iron-ore beats back bears as trade fight batters commodities

New mining fund raising R750m to co-finance ancillary mine projects 

By: Martin Creamer     16th July 2018 In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12J Mining Fund is going all out to raise R750-million for co-investment in ancillary project opportunities on existing mine sites. On the list of targeted project... 

New mining fund raising R750m to co-finance ancillary mine projects
CCP 12J MD Paul Miller talks to Mining Weekly Online’s Martin Creamer on new tax incentives to boost mining investment. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

Vale notches record Q2 iron-ore, pellet output despite trucker strike

By: Reuters     16th July 2018 Brazil's Vale achieved record iron ore and pellet production for a second quarter despite a nationwide trucker strike that paralyzed Latin America's largest economy in May, the miner said in a filing on Monday. Vale, the world's top iron-ore producer, said iron ore output reached 96.755-million... 

Expert backs Hancock offer for Atlas

By: Esmarie Swanepoel     16th July 2018 An independent expert has found that Hancock Prospecting’s offer for ASX-listed Atlas Iron is both fair and reasonable, with Atlas on Monday urging shareholders to accept the offer. Non-executive chairperson Eugene Davis told shareholders that the offer from Hancock was an excellent opportunity... 

Expert backs Hancock offer for Atlas

Top-grade iron-ore may spike to $100/t

By: Bloomberg     16th July 2018 High-grade iron-ore may spike to $100 a metric ton as China intensifies a clampdown on pollution by restraining industrial activity, adding further momentum to a trend that’s reshaped the global market in recent years and driven buyers in Asia’s top economy to seek out better-quality material.... 

Top-grade iron-ore may spike to $100/t

Rio Tinto autonomous train makes first delivery 280 km away

By: Esmarie Swanepoel     13th July 2018 Mining major Rio Tinto has delivered its first iron-ore delivery by autonomous train from the Tom Price mine, to the port of Cape Lambert, some 280 km away. The autonomous train consisted of three locomotives and carried about 28 000 t of ore. The train was monitored remotely by operators in... 

Costs outweigh price of Atlas Iron’s ore

By: Esmarie Swanepoel     12th July 2018 Takeover target Atlas Iron has faced another tough quarter during the three months to June, with all-in sustaining costs outweighing the price for its ore. Atlas on Thursday told shareholders that C1 cash costs for the period reached A$42/t, up from the A$41/t in the March quarter, while full... 

Costs outweigh price of Atlas Iron’s ore

BHP gains green light for long-term Pilbara expansion

By: Esmarie Swanepoel     11th July 2018 The Western Australia Environmental Protection Authority has approved mining major BHP’s long-term mining plan in the Pilbara. BHP is planning to expand its iron-ore operations, with plans to more than double current production to 350-million tonnes a year, with the ultimate objective of... 

BHP gains green light for long-term Pilbara expansion

Japan's Mitsui may raise its stake in Vale – executive

By: Reuters     6th July 2018 Japanese trading house Mitsui & Co may boost its stake in Brazil's Vale SA if other shareholders sell part of their holdings, a senior executive said, giving it greater influence over the iron ore giant's management. Several Brazilian pension funds and BNDESPar, the investment arm of state... 

Company expands South American service offering

By: Jessica Oosthuizen     6th July 2018 As part of its coordinated international strategy, minerals processing specialist Multotec is establishing a joint venture (JV) in Belo Horizonte, Brazil, which will enhance its presence in the South American region, says Multotec screening media VP Roy Roche. He tells Mining Weekly that the... 

Company expands South American service offering
PRODUCT STRATEGY Multotec is following a five-product strategy focussed on screening media, cyclones, samplers, spirals and ceramic linings in its targeting of South America

Iron-ore slides to seven-month low as trade war fears mount

By: Bloomberg     5th July 2018 Iron-ore’s starting to buckle after a series of warnings that prices are set to drop amid rising global supply, and as investors fret about the potential impact of escalating trade tensions between the US and China. Benchmark spot ore eased to $62.50/t on Thursday, the lowest since November,... 

Goldman says buy commodities as clock ticks toward trade war

By: Bloomberg     5th July 2018 Commodity bull Goldman Sachs Group Inc. has poured cold water on the notion that a trade war between the US and China represents a serious threat to raw materials, saying most of them aren’t likely to be significantly impacted, and after recent declines now’s the time to buy. The Wall Street... 

Analysts spring to Glencore’s defence as miner restores confidence with buyback scheme

By: Martin Creamer     5th July 2018 Research analysts have sprung to the defence of Glencore, which has rapidly restored confidence by announcing an immediate share buyback programme that communicates the formidable faith of management in the London- and Johannesburg-listed diversified mining and marketing company. In a note... 

Analysts spring to Glencore’s defence as miner restores confidence with buyback scheme
Photo by Creamer Media
Glencore CEO Ivan Glasenberg

Nigeria to offer 12.7bn naira mining contract to eight firms

By: Reuters     5th July 2018 Nigeria will offer a 12.7-billion naira ($41.6-million) mining contract to eight companies in exploration and consultancy, its junior mining minister said on Wednesday, adding both foreign and local firms were encouraged to participate. Nigeria's economy, one of Africa's largest, has been built... 

Drone tech first for Kumba Iron Ore a ‘game changer’ at Sishen mine

By: Marleny Arnoldi     3rd July 2018 Diversified miner Anglo American subsidiary Kumba Iron Ore has worked through two years of complex legal, governance and logistical challenges to earn an operating licence to fly its own remote aircraft systems, or drones, which have already become a ‘game changer’ at its Sishen mine, near Kathu,... 

Drone tech first for Kumba Iron Ore a ‘game changer’ at Sishen mine

Commodity powerhouse warns of risks to growth from trade war

By: Bloomberg     2nd July 2018 Commodity powerhouse Australia delivered a double-barreled warning that rising trade protectionism will hurt global growth, adding its voice to a chorus of alarm just days before the US and China slap duties on each other, risking a spiral of tit-for-tat tariffs. “Trade tensions between the US... 

Commodity powerhouse warns of risks to growth from trade war

Takeovers Panel denies Fortescue plea

By: Esmarie Swanepoel     2nd July 2018 The Australian Takeovers Panel has declined to conduct proceedings against takeover target Atlas Iron. Iron-ore miner Fortescue Metals in June applied to the Takeovers Panel in a bid to stop Gina Rinehart’s Hancock Prospecting from gaining a greater stake in Atlas. 

Rio Tinto’s Paraburdoo stacker project to boost WA jobs

By: Esmarie Swanepoel     2nd July 2018 The Western Australian government has welcomed a decision by mining major Rio Tinto to construct new stackers at its Paraburdoo mine, in the Pilbara. Rio will spend about $39-million to replace the stackers, creating nearly 100 jobs in the process. 

Atlas recommends Hancock offer; cuts back production

By: Esmarie Swanepoel     29th June 2018 Takeover target Atlas Iron on Friday recommended the offer from Hancock Prospecting to shareholders, saying the board had unanimously agreed to recommend the offer. The majority of the Atlas board earlier this month determined that the 4.2c a share offer from Hancock was superior to an earlier... 

Atlas recommends Hancock offer; cuts back production

Atlas attributed no value to NWI interest

By: Esmarie Swanepoel     28th June 2018 ASX-listed Atlas Iron on Thursday said that the company had attributed no value to its interest in the North West Infrastructure (NWI) joint venture, or its intention to develop export capacity at the port of Port Hedland. Atlas was responding to a query from shareholder Fortescue, which urged... 

Atlas attributed no value to NWI interest

Orion Resource Partners raising $500m in royalty, streaming fund - sources

By: Reuters     26th June 2018 Orion Resource Partners is raising up to $500-million in a fund financing potash, tungsten and iron-ore mines, sources close to the matter said, meeting miners' need for funding and investors' appetite for long-term assets. Miners are turning to alternative sources of finance as the industry has... 

Fortescue makes a move in Atlas battle

By: Esmarie Swanepoel     26th June 2018 Iron-ore major Fortescue Metals, through its subsidiary NCZ Investments, has made an application to the Australian Takeovers Panel in a bid to stop Hancock Prospecting from gaining a greater stake in takeover target Atlas Iron. Hancock Prospecting recently launched a 4.2c a share cash offer for... 

Jindal Steel South Africa units file for business protection

By: Bloomberg     26th June 2018 South African units of Jindal Steel & Power filed for a local form of bankruptcy protection known as business rescue this month. Jindal Mining SA, Jindal Africa Investments and Eastern Solid Fuels filed notice of the voluntary proceedings on June 12, according to documents posted on Jindal... 

Strong rand to impact on Kumba's interim earnings

By: Creamer Media Reporter      25th June 2018 Kumba Iron Ore says the stronger rand and lower export iron-ore prices negatively impacted on its headline earnings and earnings for the six months to June 30. In a trading update on Monday, the iron-ore miner said its headline earnings and earnings are likely to be at least R921-million and... 

Alderon bolsters its board with Morier appointment

By: Creamer Media Reporter      25th June 2018 TSX-listed Alderon Iron Ore has appointed Rolland Morier, an executive with expertise in financial management, business strategy, aboriginal land claims and government relations, to its board of directors. Alderon expects Morier to provide support and guidance in strengthening existing... 

Minerals Council said to plan free-carry challenge

By: Bloomberg     25th June 2018 South Africa’s main mining lobby group told analysts and mining companies that it would probably challenge a final draft of the government’s new Mining Charter if two key points of dispute aren’t removed, according to two people familiar with the matter. The Minerals Council South Africa, which... 

Minerals Council said to plan free-carry challenge
Photo by Dylan Slater
Mineral Resources Minister Gwede Mantashe
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