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Iron Ore News

MAC laments Canada’s declining mining competitiveness

By: Henry Lazenby     17th February 2017 Canada's mining competitiveness is declining, while exploration and mining investment dollars are flowing offshore, a new report by the Mining Association of Canada (MAC) has found. “Very simply, Canada is not as attractive as it used to be for mineral investment and competition for those dollars... 

Angola seeks to boost its mining sector

By: Keith Campbell     17th February 2017 The State-owned Empresa Nacional de Diamantes de Angola (Endiama – National Diamond Company of Angola) will not need additional investors to develop its Luaxe project, assured company President António Carlos Sumbula at the Angola Business Forum during the recent Mining Indaba in Cape Town.... 

Convention aims to bridge communication gap

By: Simone Liedtke     17th February 2017 As a continually evolving industry that operates globally, sometimes the biggest difficulty for the mining industry is getting the right people together in one place to discuss their challenges and find ways to address and, ultimately, overcome them, says Prospectors and Developers Association of... 

Convention aims to bridge communication gap
EIGHTY-FIFTH CONVENTION Prospectors and Developers Association of Canada's 2017 convention will feature more than 400 exhibitors at the investors exchange and 500 at the trade show

Digitisation of project management imperative for project success

By: Victor Moolman     17th February 2017 Business management consultant SSG Consulting will continue to focus on project management and execution as its core business this year, with the intent of increasing its drive to further improve operational throughput of organisations and projects by 30% to 50%, despite the challenges facing the... 

Digitisation of project management imperative for project success
Photo by Duane Daws
MINE UPGRADES The adoption of big data, cloud, business intelligence, artificial intelligence, mobile technology and the digitisation of business will be the primary driver of successful organisations over the next five years

Group to split to improve customer focus

     17th February 2017 Swedish sustainable productivity solutions provider Atlas Copco will create a new company focused on mining and civil engineering, should it receive backing at its annual general meeting in April. 

Group to split to improve customer focus
STREGTHENING FOCUS Mining and Rock Excavation Technique and Construction Tools are expected to benefit from a more focused management responsibility

Localised conveyor belt supply to boost operational efficiencies

By: Simone Liedtke     17th February 2017 Over the past three to four years, metal prices have dropped precipitously and North American mining operators have been forced to implement more operational efficiencies, states conveyor belt vulcaniser product provider Shaw Almex CEO Tim Shaw. 

Localised conveyor belt supply to boost operational efficiencies
CONVEYOR BELT SOLUTION Many operators have turned to offshore conveyor belt suppliers, resulting in premature product failures and unreliable supply

Modest growth forecast for US iron-ore demand

By: Simone Liedtke     17th February 2017 Advisory and consultancy firm the AME group forecasts modest growth in US iron-ore demand over the next three to five years, based on a recovering domestic economy. 

New US President may benefit the resources sector

By: Henry Lazenby     17th February 2017 While US President Donald Trump is likely to lower US corporate taxes, bringing US dollars back into the country and rebuilding American infrastructure through a massive $1-trillion spending programme, Trump is coming in at the “US midnight” Euro Pacific Capital analyst Peter Schiff says. Markets... 

New US President may benefit the resources sector

Rehabilitation plan important for proper project management

By: Victor Moolman     17th February 2017 Rehabilitation should be included and budgeted for in a project’s initial mine plan to ensure proper project management over the entire mine life cycle, says nonprofit organisation Land Rehabilitation Society of South Africa (LaRSSA) president Raina Hattingh. 

Rehabilitation plan important for proper project management
Photo by Victor Moolman
OFTEN NEGLEGTED Unfortunately, the need for including rehabilitation components early on in mine plans is often neglected in South Africa

Bloom Lake FS demonstrates financially viable, competitive project

By: Henry Lazenby     16th February 2017 A feasibility study (FS) completed on ASX- and TSX-listed Champion Iron Ore’s Bloom Lake mine, in north-eastern Quebec, has demonstrated a financially viable and competitive project in current global markets. “This is a major result for the company. Based on conservative assumptions, the FS... 

Bloom Lake FS demonstrates financially viable, competitive project
Photo by Henry Lazenby
Existing equipment at Champion Iron Ore’s Bloom Lake mine, Quebec

Atlas moves ahead with Corunna Downs development

By: Esmarie Swanepoel     16th February 2017 Iron-ore miner Atlas Iron has approved the development of its Corunna Downs project, in the Pilbara, with capital costs estimated at between A$47-million and A$53-million. A definitive feasibility study estimated that the project had the potential to deliver four-million tonnes a year of lumps... 

China iron-ore slips from record high as steel retreats

By: Reuters     15th February 2017 Iron-ore futures in China fell more than 1% on Wednesday after reaching a record high in a rapid rally spurred by rising steel prices that some market participants feel may have been overdone. Both commodities had started their rally shortly after China returned from the Lunar New Year break... 

Ferrum, BVI terminate Moonlight JV agreement

By: Megan van Wyngaardt     15th February 2017 Triple-listed Ferrum Crescent on Wednesday said the stalled farm-in and joint venture (JV) agreement between its Ferrum Iron Ore (FIO) subsidiary and Business Venture Investments (BVI) has been formally terminated. The parties had, under the JV agreement, sought to develop Ferrum’s Moonlight... 

Kumba applying exploration-to-beneficiation technology 

By: Martin Creamer     14th February 2017 South Africa’s biggest iron-ore mining company Kumba Iron Ore intends maximising the return potential of its assets through productivity initiatives, accompanied by ongoing robust cost management. It intends ensuring disciplined capital allocation, prioritising the reinstatement of dividend... 

Kumba applying exploration-to-beneficiation technology
Mining Weekly Online’s Martin Creamer at the Kumba Iron Ore results presentation by CEO Themba Mkhwanazi and outgoing CFO Frikkie Kotzee. Video and Video Editing: Nicholas Boyd.

Kumba lifts output, slashes costs, pumps cash, CFO quits

By: Martin Creamer     14th February 2017 South Africa’s biggest iron-ore mining company Kumba Iron Ore beat production guidance, slashed costs and pumped cash – but what was a successful 12 months to December 31 last year, was marred by two fatalities. Controlling shareholder Anglo American said in a separate statement that it would... 

Kumba lifts output, slashes costs, pumps cash, CFO quits
Kumba Iron Ore CEO Themba Mkhwanazi

Key Vale partners want to keep CEO to stem political pressure – Valor

By: Reuters     14th February 2017 Vale's top non-government shareholders want CEO Murilo Ferreira in the job for another two years to stem pressure from Brazilian politicians to appoint an ally at the helm of the world's No 1 iron-ore producer, newspaper Valor Econômico said on Monday. Valor, which cited unnamed people familiar... 

Surging iron-ore won’t ‘fall off a cliff’, says Rio Tinto

By: Bloomberg     13th February 2017 Iron-ore will defy forecasts for a dramatic price collapse as China’s economy remains strong and the top buyer boosts demand for higher-quality imports, according to Rio Tinto Group, the second-largest exporter. “I wouldn’t necessarily say that it’s going to fall off a cliff,” Chief Financial... 

NMDC divestment hinges on merger proposal with steelmaker RINL

By: Ajoy K Das     13th February 2017 The Indian government’s plans for the strategic disinvestment in iron-ore miner NMDC will, most likely, hinge on a final decision on the proposed merger of NMDC with steel producer Rashtriya Ispat Nigam Limited (RINL). According to a senior government official, there are two proposals before the... 

Cape Lambert sells Mayoko royalty

By: Esmarie Swanepoel     13th February 2017 ASX-listed resources and investment group Cape Lambert Resources has sold its royalty in the Mayoko iron-ore project, in the Republic of Congo, for A$1-million. The Mayoko royalty was negotiated by Cape Lambert as part of its consideration when it sold the project to African Iron in 2011, with... 

AMSA keen to tap power tariff deal as Eskom mulls ‘incentive pricing’  

By: Terence Creamer     10th February 2017 Steel producer ArcelorMittal South Africa (AMSA) is optimistic that Eskom, with the support of the energy regulatory, could extend pricing incentives to it and other energy-intensive businesses in light of its surplus position and government’s appeal for interventions to reignite growth in the... 

AMSA keen to tap power tariff deal as Eskom mulls ‘incentive pricing’
AMSA CEO Wim de Klerk makes the case for further protection for domestic steel industry. Video and editing: Darlene Creamer 10.2.2017

New Bill on way to boost State involvement in mining

By: Martin Creamer     10th February 2017 A new Bill is to be presented to the South African Parliament to strengthen the State’s role in the industry, currently dogged by legislative, regulatory and administrative tensions between government, business and labour. The Mining Company of South Africa Bill will be presented to Cabinet and... 

New Bill on way to boost State involvement in mining
President Jacob Zuma

Cliffs' shares rise as it swings to a profit

By: Henry Lazenby     10th February 2017 US iron-ore producer Cliffs Natural Resources has reported a 58.4% increase in fourth-quarter revenue, boosted by rising domestic iron pellet sales. The Cleveland, Ohio-based company reported net income attributable to shareholders of $79.1-million, or $0.34 a share, for the three months to... 

Mount Gibson starts development work on Iron Hill

By: Esmarie Swanepoel     9th February 2017 Development work at the Iron Hill mine, in Western Australia, has started, after miner Mount Gibson Iron secured the final statutory approvals for the process. “We are very pleased to gain the final approvals required for Iron Hill, which is the successful culmination of a huge effort by our... 

AMSA wants customers to unite behind call for industry-wide protection 

By: Terence Creamer     9th February 2017 Steel producer ArcelorMittal South Africa (AMSA) has appealed to its downstream customers to join it in a united lobbying effort for higher levels of tariff protection on both primary and value-added steel products, which, it claims, are being displaced by cheap, subsidised imports that are... 

AMSA wants customers to unite behind call for industry-wide protection
Photo by Duane Daws
AMSA CEO Wim de Klerk

A fillip for iron-ore, but is it sustainable?

By: Kim Cloete     8th February 2017 The past year has been a volatile but positive one for iron-ore, with higher prices helped by a burst of demand from China. Panelists at the Investing in African Mining Indaba, being held in Cape Town, this week, agreed that there was still great uncertainty in the iron-ore market, with Macquarie... 

Rio Tinto denies Guinea iron-ore sale has stalled after investigation

By: Reuters     8th February 2017 Rio Tinto shrugged off concerns on Wednesday that its sale of Guinea's Simandou project to Chinalco had stalled after an investigation into payments to a consultant who helped it win rights to the huge iron-ore deposit. Rio signed a preliminary deal in late October to sell its stake in Simandou,... 

Chamber calls on mining to renounce its apartheid past

By: Martin Creamer     6th February 2017 Mining is the foundation of the South African economy. Much of the manufacturing and services sectors exist because they were initiated to service and provide inputs to the mining industry since the second half of the 19th century. However, mining was also one of the foundation stones of South... 

Chamber calls on mining to renounce its apartheid past
Photo by Duane Daws
Chamber of Mines president Mike Teke

Cutifani encourages mining sector to focus on constructive dialogue

By: Kim Cloete     6th February 2017 Anglo American CE Mark Cutifani has advocated a new future for mining, through innovation, a sharper focus on resilience and, in South Africa in particular, a recognition that “capital has no colour”. He told delegates at the annual Investing in African Mining Indaba conference, in Cape Town,... 

Cutifani encourages mining sector to focus on constructive dialogue
Anglo American CE Mark Cutifani

Kumba reaches R2.5bn settlement with Sars

By: Natasha Odendaal     3rd February 2017 The share price of JSE-listed Kumba Iron Ore fell by more than 6% on Friday morning after it announced that it would fork out R2.5-billion to settle a tax dispute with the South African Revenue Service (Sars). The group on Friday said it had reached an agreement with Sars that would see it settle... 

Kumba reaches R2.5bn settlement with Sars
Kumba CEO Themba Mkhwanazi

Brazil's Vale more optimistic than market on iron-ore prices – exec

By: Reuters     3rd February 2017 Brazilian miner Vale is more optimistic than the market consensus in terms of iron-ore prices for 2017, Investor Relations Director Andre Figueiredo told reporters on Thursday. Figueiredo also said Vale had likely made a profit in 2016, and should pay dividends equivalent to about 25% of net... 

Amendment Bill in limbo, but processes crucial

By: Sascha Solomons     3rd February 2017 While stakeholders are waiting for the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill to pass into law, it is important to not only comply with the current version of the MPRDA, but also to take into account the proposed amendments, comments Hogan Lovells partner and head... 

Amendment Bill in limbo, but processes crucial
WARREN BEECH Renewed consultation might eliminate some of the concerns on the Mineral and Petroleum Resources Development Act Amendment Bill

Mining remains core to defining South Africa’s economy – Manuel 

By: Martin Creamer     2nd February 2017 For the last 150 years, mining has been the driving force of South African industry and economic development. Even though dislike of mining is expressed in various ways, that does not take away from the manner in which mining has shaped South Africa and influenced the interactions of its people. 

Mining remains core to defining South Africa’s economy – Manuel
Photo by Duane Daws
Former Finance Minister Trevor Manuel

NMDC seeks new iron-ore leases through preferential allotment

By: Ajoy K Das     31st January 2017 India’s largest iron-ore miner, NMDC, will be able to ramp up its yearly production from 30-million tons currently to 75-million tons by 2019 and 100-million tons by 2022, if it were awarded additional mining leases in iron-ore-bearing provinces. NMDC has conveyed to the government that its... 

Iron-ore production in Odisha to hit decade high

By: Ajoy K Das     31st January 2017 Buoyed by a revival in prices and transaction volumes in international iron-ore trade, the eastern Indian province of Odisha is poised to achieve a decade-high in iron-ore output. According to a senior provincial government official, iron-ore production is expected to touch the 120-million-ton... 

Fortescue's cost cuts continue

By: Esmarie Swanepoel     31st January 2017 Iron-ore major Fortescue Metals has delivered another quarter of consistent production, with the miner shipping 42.2-million tonnes of iron-ore during the three months to December. This was 4% below the 43.8-million tonnes shipped in the first quarter of 2017. 

Bank upbeat about mining sector in 2017, predicts steady commodity price uptick 

By: Ilan Solomons     30th January 2017 Given that the global economy is expected to grow by 3.4% this year and 3.5% in 2018, the health of global macroeconomics is good, which bodes well for a resurgence in the global mining industry during the course of this year. This is according to Standard Bank mining and metals research head Tim... 

Bank upbeat about mining sector in 2017, predicts steady commodity price uptick
Standard Bank’s Tim Clark and Sandra du Toit discuss their perceptions of the state of the global mining sector and predictions for the year ahead. Video and editing: Darlene Creamer 30.1.2017

Digital mining gaining traction – EY 

By: Martin Creamer     30th January 2017 The tempo of mine modernisation – the coming together of mechanisation, digitisation and behavioural change – is on the up as mining companies pursue what is seen as the next productivity step change. With several companies having already mechanised, a growing number are now looking to digitise... 

Digital mining gaining traction – EY
Photo by Duane Daws
EY mining and metals leader Wickus Botha

BHP-Vale mine restart encounters new obstacle – a small-town mayor

By: Bloomberg     27th January 2017 BHP Billiton and Vale’s crippled Samarco mine, once the world’s second-largest producer of iron-ore pellets, has a new obstacle threatening to slow its much-anticipated restart: a small-town mayor. The Brazilian city of Santa Barbara declined to sign off this week on a plan for Samarco to... 

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