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Iron Ore News

Solidarity warns of ‘major impact’ should AMSA proceed with job cuts

By: Terence Creamer     16th August 2017 Trade union Solidarity has confirmed receipt of a Section 189A retrenchment notice from steel producer ArcelorMittal South Africa (AMSA) and has indicated that it will enter negotiations with the company to ensure alternatives to retrenchments are considered. On Tuesday, AMSA announced that it... 

BC Iron swings back to black

By: Esmarie Swanepoel     16th August 2017 Junior miner BC Iron has swung back into black during the full year ended June, as the company’s Iron Valley operation delivered strong results. BC Iron on Wednesday reported after tax profit of A$7.1-million from continuing operations, compared with a loss of A$43.9-million in the previous... 

Technology set to unleash mining innovation – Anglo’s O’Neill

By: Martin Creamer     16th August 2017 In the next ten years, technology is set to unleash a wave of mining innovation, with the sweet spot centred on changing the thinking around orebodies and processing plants rather than much-spoken-about automation. “Our focus has changed from hunting technologies to hunting value,” Anglo American... 

Technology set to unleash mining innovation – Anglo’s O’Neill
Anglo American technical director Tony O’Neill

Cliffs Natural Resources reverts to original Cleveland-Cliffs name

By: Henry Lazenby     15th August 2017 US iron-ore specialist Cliffs Natural Resources has renamed the company to its historical name Cleveland-Cliffs, as part of celebrating its 170th anniversary, the company announced on Tuesday. Under the name Cleveland-Cliffs, the company has been operating for decades as an important part of the... 

AMSA initiates retrenchment talks as it pushes ahead with restructuring plan

By: Terence Creamer     15th August 2017 Steel producer ArcelorMittal South Africa (AMSA) announced on Tuesday that it had initiated consultations with employees regarding its proposed business-restructuring programme, which could result in job losses. CEO Wim de Klerk said in a statement that it was premature to provide an estimate as... 

AMSA initiates retrenchment talks as it pushes ahead with restructuring plan
Photo by Duane Daws
AMSA CEO Wim de Klerk

Vale works to speed up listing in strictest Brazil market

By: Reuters     15th August 2017 Bigger-than-expected shareholder backing for Vale's stock conversion plan could lead the world's No 1 iron-ore producer to speed up the listing of common shares in Brazil's strictest market to lure a broader investor base. CEO Fabio Schvartsman told investors in a Monday conference call that the... 

Mitsui to book $810m after-tax profit in Q2 on Vale's stock conversion plan

By: Reuters     15th August 2017 Japanese trading firm Mitsui & Co said on Tuesday it would book an after-tax profit of about $810-million in the July-September second quarter on Brazil's Vale's stock conversion plan. Mitsui said the profit was not included in its profit forecast for the year to March 2018 and it would revise... 

Highveld to pursue safeguard protection on heavy structural steel products 

By: Terence Creamer     14th August 2017 Highveld Steel, which recently reopened its heavy structural mill in Mpumalanga despite still being in business rescue, has welcomed the institution of 10% import-duty protection on certain heavy steel sections and shapes. However, CEO Johan Burger tells Engineering News Online that Highveld... 

Highveld to pursue safeguard protection on heavy structural steel products
Photo by Duane Daws
Highveld's recently reopened structural mill

Outlook stable for Anglo American – S&P's

By: Anine Kilian     11th August 2017 Ratings agency Standard and Poor’s (S&P’s) has given global mining company Anglo American a stable outlook, raising its long- and short-term corporate credit ratings to BBB-/A-3 from BB+/B. The agency also raised Anglo American’s long-term South Africa national scale rating to zaAAA from zaAA+,... 

Exxaro to report higher interim HEPS

By: Creamer Media Reporter      11th August 2017 Diversified miner Exxaro Resources expects to report headline earnings per share (HEPS) of 795c to 925c for the six months to June 30. This compares with HEPS of 309c for the six months to June 30, 2016. 

Safeguard duties on hot-rolled steel coil and plate officially come into force

By: Terence Creamer     11th August 2017 Safeguard duties of 12% have been officially placed on hot-rolled coil (HRC) and plate entering South Africa following publication of the August 11 Government Gazette, which amends schedule two of the Customs and Excise Act. The safeguard duties have been signed by Finance Minister Malusi Gigaba... 

Safeguard duties on hot-rolled steel coil and plate officially come into force

Vale investors overwhelmingly join share conversion plan

By: Reuters     11th August 2017 Investors in Brazil's Vale have overwhelmingly agreed to swap their preferred stock into common shares, handling the world's No 1 iron ore producer a victory in a plan that will give equal votes to all shareholders and limit government meddling. In a Thursday securities filing, Vale said a total... 

Growth aids new sales platform

By: Nica Schreuder     11th August 2017 There is cautious optimism worldwide in the future demand for valves, owing to investment in major industries, such as, besides others, mining and oil and gas, as well as related infrastructure, which has prompted growth in the valves industry this year. Industry players are hoping that this... 

Growth aids new sales platform
COMPLEXITY Despite the sophisticated nature of valves, ValveConnect emphasises that they are still commodity items accessible through an online platform

Interest returning to Africa in response to commodities resurgence

     11th August 2017 Interest in Africa’s mineral potential is returning and there is a growing confidence in the future of the resources sector in Africa and in Africa–Australia relations, says organiser of the Africa Down Under (ADU) conference, Australian magazine publisher, Paydirt Media.  

Interest returning to Africa in response to commodities resurgence
INTEGRAL EVENT The importance of Africa Down Under continues to be reflected in the number of high-profile attendees it welcomes to Australia’s mining capital each year

Tyre supplier to build brand awareness

By: Marleny Arnoldi     11th August 2017 Canada-headquartered mining tyre supplier and service provider Kal Tire will use the Asia-Pacific’s International Mining Exhibition (AIMEX) to strengthen Kal Tire brand awareness, says Kal Tire Australia sales and marketing head Jason Zafiriadis.  

Tyre supplier to build brand awareness
ON SHOW Kal Tire’s exhibit at the Asia-Pacific’s International Mining Exhibition will feature some of the innovative tools and repair processes it has developed to deliver better tyre management services

South Africa’s mining production down 0.8% y/y in June

By: Creamer Media Reporter      10th August 2017 South Africa’s mining production decreased by 0.8% year-on-year in June, driven by lower gold, iron-ore and platinum group metals (PGMs) output. Gold production was down 3.6% year-on-year, while iron-ore output slid 4.4% year-on-year and PGMs 13.7% year-on-year. 

Efforts to reposition balance sheet, price improvements lift Glencore’s H1 earnings

By: Ilan Solomons     10th August 2017 Diversified mining and marketing company Glencore said “extensive efforts” to reposition its balance sheet and propel the company’s industrial asset portfolio improvements over the last two years were reflected in its strong interim financial performance. The group on Thursday published its... 

Efforts to reposition balance sheet, price improvements lift Glencore’s H1 earnings
Glencore CEO Ivan Glasenberg

British mineral explorer in Africa lists in London

By: Reuters     10th August 2017 A British explorer for mineral resources in Africa will on Thursday become the first venture of its kind to be listed on London's Aim market for growing companies, its CEO said. Following the recovery of the mining sector from a commodity price crash in 2015/16, a handful of new companies have... 

Vale sells two more Valemax vessels for $178m

By: Henry Lazenby     10th August 2017 The world’s largest iron-ore producer Vale has sold another two of its 400 000-deadweight-tonnne vessels for about $178-million, the Brazilian company reported on Wednesday. The vessels were delivered on Tuesday to nominees of Bank of Communications Finance Leasing (Bocomm). 

Vale sells two more Valemax vessels for $178m

Vale targeted in $4.8-million Brazil extortion attempt

By: Bloomberg     8th August 2017 While cyberattack extortion is in vogue the world over, in Brazil’s Amazon region old-school shakedowns are no thing of the past. A couple was arrested after allegedly unscrewing the bases of energy towers belonging to Vale SA near the city of Parauapebas and demanding as much as 15 million reais... 

Iron-ore exports to China from Port Hedland drop 12% in July

By: Reuters     8th August 2017 Iron-ore shipments to China from Australia's Port Hedland terminal dropped 12% to 32.03-million tonnes in July from 36.6-million tonnes in June, port data released on Tuesday showed. Overall iron-ore shipments from the world's biggest export terminal for the steelmaking raw material dipped to... 

Vale opening door to stock-market return after nine-year hiatus

By: Bloomberg     4th August 2017 The world’s biggest iron-ore miner is getting closer to snapping an equity-market drought that has stretched nine years. If its voluntary share-conversion is successful, Vale SA will be able to tap the stock market to fund investments rather than relying on debt, Chief Financial Officer Luciano... 

Lab closer to international accreditation of proficiency testing

By: Nadine James     4th August 2017 Laboratory service provider Qotho is one step closer to receiving ISO 17043 accreditation for its proficiency testing scheme, having been audited by national accreditation authority South African National Accreditation System (SANAS), says Qotho director and proficiency testing (PT) scheme... 

Lab closer to  international accreditation of proficiency testing
NHLANHLA MAMBA Qotho's imminent accreditation is vitally important

Virtual reality experience aids mine design analysis

By: Nadine James     4th August 2017 Virtual reality (VR) provides an immersive experience which makes it easier for project managers to make decisions on and improve project designs, and to undertake other activities that ensure the effective implementation of their strategies, believes the University of Pretoria's (UP’s)... 

Virtual reality experience aids mine design analysis
ACTUAL BENEFITS Aside from improving the decision-making process, virtual reality ensures that risky incidents are reduced

Women representation increases from ‘extreme minority’ to 13%-plus of SA’s mining workforce 

By: Mia Breytenbach     4th August 2017 The local mining industry has made significant strides in executing transformation and promoting gender diversity in terms of women representation, with the number of women having increased from an “extreme minority” to exceeding 10% across different levels. According to the Chamber of Mines... 

Women representation increases from ‘extreme minority’ to 13%-plus of SA’s mining workforce
Vedanta Resources Zinc International and CMT CEO Deshnee Naidoo discusses the progress made in increasing women representation. Camerawork and Editing: Darlene Creamer.

Resources Watch  

     3rd August 2017 Kumba CEO concerned by Minister’s reneging; Sishen productivity leaps by 57%; And, Eskom tariffs in AMSA’s action plan crosshairs as losses spike 

Resources Watch
Resources Watch

DRA makes top origination appointment

By: Martin Creamer     3rd August 2017 Multi-disciplinary global engineering group DRA has appointed Pierre Julien to lead the company’s global origination team as executive VP origination. With more than 22 years of senior level industry experience, Julien has been tasked with identifying and accessing new business channels, seeking... 

DRA makes top origination appointment
Photo by Duane Daws
DRA Group Holdings CEO Wray Carvelas (left) with Mining Weekly Online's Martin Creamer in Johannesburg.

Ferrexpo expects up to 10Mt/y of idled pellet supply to enter market

By: Mariaan Webb     3rd August 2017 Swiss-headquartered Ferrexpo expects demand for high-quality iron-ore, especially pellets, to remain strong in the second half of 2017, underpinned by an improvement in the global economy, as well as drive by steel mills to reduce their emissions and improve the quality of their final product.... 

Ferrexpo expects up to 10Mt/y of idled pellet supply to enter market
Iron-ore pellets in a kiln

Vedanta markets dollar bonds for debt refinancing

By: Reuters     3rd August 2017 Vedanta Resources, the UK-listed Indian mining and energy group, is marketing a new issue of US dollar bonds to refinance outstanding debt. Vedanta is offering seven-year bonds, callable after four years, to yield around 6.375%, according to a term sheet. 

Rio Tinto CFO says good progress being made in Simandou deal

By: Reuters     2nd August 2017 Miner Rio Tinto is making good progress in the deal to sell its stake in the Simandou project in Guinea, CFO Christopher Lynch said on Wednesday. Citing the complexity of the deal due to three parties being involved, he said discussions were still under way. 

Crusader finds buyer for Posse mine

By: Esmarie Swanepoel     2nd August 2017 ASX-listed Crusader Resources has entered into a conditional sales agreement to divest of its Posse iron-ore mine, in Minas Gerais. Crusader on Wednesday told shareholders that Inter Invest would pay some A$3.2-million for the asset over a 17-month period, with the sale conditional on Crusader... 

NUM, ANC ‘very encouraging’ – Royal Bafokeng Platinum 

By: Martin Creamer     1st August 2017 Royal Bafokeng Platinum CEO Steve Phiri said on Tuesday that he was “very encouraged” by the stance taken the day before by the National Union of Mineworkers (NUM) and the ruling African National Congress (ANC). “We can only improve the situation if we work together and not against each other,”... 

NUM, ANC ‘very encouraging’ – Royal Bafokeng Platinum
Royal Bafokeng Platinum CEO Steve Phiri is interviewed by Mining Weekly Online’s Martin Creamer on the tough current passage of the struggling platinum industry. Video and Video editing: Darlene Creamer 1.8.2017

Tramecon

By: Creamer Media Reporter      1st August 2017 Turnkey laboratory solutions provider Tramecon services mining projects worldwide from its wholly owned Randburg facility, comprising two mini factories covering 400 m2. The company further supplies South Africa-based product logistics monitoring for a Democratic Republic of Congo (DRC) client... 

Tramecon

Fortescue brings power in-house

By: Esmarie Swanepoel     1st August 2017 Iron-ore miner Fortescue Metals has moved to repurchase the Solomon power station from TSX-listed TransAlta Corporation. The company in 2012 sold the Solomon power station to TransAlta and entered into a power purchase agreement (PPA) for the power station’s entire capacity, which is providing... 

BHP denies it has agreed to sell Samarco stake to Vale

By: Reuters     1st August 2017 BHP Billiton on Tuesday denied commentary in a Brazilian newspaper that it has agreed to sell its stake in the Samarco iron ore mine to its partner Vale. The Samarco mine has been shut since November 2015, when a dam burst, unleashing a deluge of mud that killed 19 people and destroyed nearby towns. 

BHP denies it has agreed to sell Samarco stake to Vale

Hawsons PFS delivers for Carpentaria

By: Esmarie Swanepoel     28th July 2017 ASX-listed Carpentaria Exploration has delivered an attractive development case of its Hawsons iron-ore project, in New South Wales, with the release of the results of a prefeasibility study, MD Quentin Hill said on Friday. The PFS estimated that the 10-million-tonne-a-year operation would have... 

Miner Vale to look toward copper after Q2 miss

By: Reuters     28th July 2017 Brazilian miner Vale on Thursday it would seek out fresh copper mining options and stop expanding nickel production capacity after second-quarter net income plunged on forex losses, rising costs and weaker iron ore prices. Net income tumbled 99% to $16-million from $1.1-billion a year earlier,... 

Mines continue to drive sustainable value creation

By: Simone Liedtke     28th July 2017 The African mining industry is increasingly focusing on generating as much value as possible from mining projects to benefit all mining stakeholders and strengthen its position as a sustainable contributor to the continent’s economies, says consulting engineer Aurecon resources client director... 

Mines continue  to drive sustainable value creation
ASSMANG KHUMANI Community-benefiting projects are associated with mining company Assmang’s Khumani iron-ore mine, located in the Northern Cape, South Africa
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