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Iron Ore News

Proposed carbon tax ‘least-cost manner’ to ensuring greenhouse-gas reduction – Treasury

By: Schalk Burger     15th December 2017 The National Treasury released the Second Draft Carbon Tax Bill for public comment on Friday and averred that it “seeks to give effect to the polluter pays principle . . . and will assist, in a least-cost manner, in reducing greenhouse-gas (GHG) emissions and ensuring that South Africa meets its... 

State of local mining regulations shun investment, says CoM report

By: Dylan Slater     14th December 2017 The findings of a recently conducted Chamber of Mines (CoM) survey indicate that if South Africa’s mining industry shifts its focus to create an attractive policy, regulatory and governance environment – through ethical leadership, good governance and the adoption of competitive, stable and... 

Cleveland-Cliffs picks up substantial Minnesota iron-ore landholdings

By: Henry Lazenby     12th December 2017 NYSE-listed iron-ore producer Cleveland-Cliffs has acquired extensive iron-ore landholdings in Minnesota that could in the future serve to replace depleted resources. Cleveland, Ohio-based Cliffs has completed the acquisition of interests located in Itasca County, west of Nashwauk, Minnesota,... 

Brazil's Samarco wins waste permits in small step toward resuming operations

By: Reuters     12th December 2017 Samarco Mineração, a joint venture between Brazilian miner Vale and Anglo-Australian BHP Billiton, on Monday received two waste system permits in a small step toward resuming operations halted after a November 2015 tailings mine dam collapsed, killing 19 people. The permits issued by Minas Gerais... 

Crucial for commodity countries to build economic resilience – Unctad 

By: Martin Creamer     11th December 2017 Without policy change, commodity-dependent developing countries risk falling short of achieving their sustainable development goals (SDGs) by 2030, United Nations Conference on Trade and Development (Unctad) economic affairs officer Stefan Csordas warned on Monday. Unctad and the Food and... 

Crucial for commodity countries to build economic resilience – Unctad
Unctad’s Stefan Csordas discusses commodities report with Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Video Editing: Lionel de Silva.

Cyril Ramaphosa calls for mining sector action

By: Martin Creamer     11th December 2017 South Africa must urgently break the ongoing deadlock on the regulation and transformation of the mining sector to ensure the proper use of this country’s world-class mineral resources, says Deputy President Cyril Ramaphosa. In an article on the CR17 Siyavuma campaign website, ahead of this... 

Cyril Ramaphosa calls for mining sector action
Photo by Duane Daws
Deputy President Cyril Ramaphosa

WA EPA recommends BHP’s Southern Flank for approval

By: Mariaan Webb     11th December 2017 Western Australia’s Environmental Protection Authority (EPA) has recommended diversified major BHP’s proposal to expand its Mining Area C iron-ore operations for environmental approval. The Southern Flank operation, about 100 km from Newman, will expand the existing Mining Area C hub and is BHP’s... 

Brazil's Vale says to slash debt to $10bn by 2019

By: Reuters     8th December 2017 Brazilian miner Vale will likely reduce its $21-billion debt load to $10-billion by 2019, and will dedicate cash flow from then on to paying out dividends, the CFO of the world's top iron-ore producer said on Friday. "The message is very clear here, which is that beyond the achievement of the... 

Owner’s engineer role by ‘Proudly South African’ Erudite pleasing Perth 

By: Martin Creamer     8th December 2017 New ‘Proudly South African’ start-up Erudite Strategies has hit a rich vein of acceptance in Australia, where investors in junior mining projects in Africa are showing alacrity in taking up its unique client representative and owner’s engineer offering. Each of Erudite’s three leading lights has... 

Owner’s engineer role by ‘Proudly South African’ Erudite pleasing Perth
Mining Weekly Online’s Martin Creamer interviews Johann de Bruin, the founding director of the new project engineering company Erudite. Video: Nicholas Boyd. Video Editing: Nicholas Boyd and Lionel da Silva.

Vale sells last two Valemax vessels

By: Henry Lazenby     8th December 2017 Global iron-ore leader Vale has sold the last two of its former fleet of 19 Valemax vessels of 400 000 t capacity. The transaction with the nominees of the Bank of Communications Finance Leasing, netted Vale about $178-million. 

Vale sells last two Valemax vessels

Global iron-ore growth to be modest

     8th December 2017 Global iron-ore production will grow modestly, with mine restarts and expansions predicted in Brazil and India, boosting production, predicts international market research firm BMI Research. However, output growth in China will decline on the back of falling ore grades and high production costs,... 

Global iron-ore growth to be modest
MODEST GROWTH BMI predicts that the iron-ore sector will grow modestly in 2018

South African equipment company supplies iron-ore giant

     8th December 2017 South Africa-based process equipment sales and supply company MIP Process Technologies has landed a contract to supply equipment to global iron-ore giant Ehya Sepahan, which has operations in the Middle East, most notably Iran. Ehya Sepahan CEO Hadi Golzar and technical and planning manager... 

South African equipment company supplies iron-ore giant
Photo by Duane Daws
STEEL COMMITMENTS Half of Ehya Sepahan’s iron-ore is consumed by the steelmaking industry

Environmental permit bodes well for project financing

     8th December 2017 Iron-ore explorer and developer Zanaga Iron Ore Company (ZIOC) expects the environmental permit for its iron-ore project from the Republic of Congo’s ministry of environment to help attract finance to enable the valuable resource to be brought into production. A joint venture with natural... 

Company continues ramp-up of new iron-ore asset

By: Natasha Odendaal     8th December 2017 Industrial minerals, commodities and construction materials group Afrimat has successfully recommissioned its recently acquired iron-ore play, with full production on track for March 2018. The acquisition of the distressed small iron-ore mine, Diro, in the Northern Cape, had marked a new phase... 

Company continues ramp-up of new  iron-ore asset
DIRO MINE Afrmat invested R300-million into the Diro iron-ore mine in the Northern Cape

India seeks globally accepted regulations, tax

By: Ajoy K Das     8th December 2017 India’s Steel Ministry is seeking to align the domestic iron-ore mining industry with globally accepted regulations and practices as the country aims to be a 300-million-ton-a-year globally competitive steel producer by 2030. In the course of inter-Ministerial consultations about a new National... 

India seeks globally accepted regulations, tax
Photo by Bloomberg
SUPPLY LINKAGES India’s Steel Ministry has backed the adoption of long-term supply linkages between mines and steel producers

Forecast price drop influenced by Chinese economic refocusing

By: Megan van Wyngaardt     8th December 2017 Maintaining its iron-ore price forecast at an average of $70/t for the year and $50/t for 2018, research firm BMI says its predicted price drop is influenced by China’s economic refocusing away from heavy industry. “This will dampen demand for iron-ore,” the firm says, adding that, when combined... 

Forecast price drop influenced by Chinese economic refocusing
Photo by Duane Daws
KOLOMELA MINE Kumba Iron Ore’s newest mine, located in the Northern Cape. Its subsidiary, Anglo American, aims to offload most of its South African assets

Surge in international iron-ore prices changing Indian market dynamics

By: Ajoy K Das     7th December 2017 The sharp rebound in international iron-ore prices over the last month is changing dynamics of the Indian market, with imports of the steel-making ingredient surging and local miners hiking prices. India’s largest miner, the government-owned and -operated NMDC has increased the domestic sales... 

Mining production sees 5.2% increase in October

By: Anine Kilian     7th December 2017 Mining production increased by 5.2% year-on-year in October 2017, according to the most recent findings from Statistics south Africa. The largest positive contributors were iron-ore, which contributed 2.4 percentage points and coal, which contributed 1.5 percentage points. 

Pallinghurst targets London, okays share buyback, halves executive pay

By: Martin Creamer     7th December 2017 Diversified mining and marketing company Pallinghurst, which has moved fast to stabilise the now-integrated coloured gemstone acquisition, is initiating a listing on the main board of the London Stock Exchange, going ahead immediately with a share buyback programme and benefitting from executive... 

Pallinghurst targets London, okays share buyback, halves executive pay
Photo by Duane Daws
Pallinghurst CE Arne Frandsen

Top iron-ore miner threatens to flood market if prices jump

By: Bloomberg     7th December 2017 Vale SA has a somber message for anyone betting on iron-ore prices returning to the heady days of 2011. The world’s biggest producer of the steel-making ingredient is prepared to unleash as much as 50 -million metric tons of spare capacity to balance the market if prices get too high, CEO Fabio... 

Top iron-ore miner threatens to flood market if prices jump
The plant at Vale's new SD11 iron-ore mine.

Vale cuts nickel output but is positive on long-term demand

By: Reuters     7th December 2017 Brazilian miner Vale dialled back its nickel output forecasts for the next five years on Wednesday, although the world's top producer of the metal praised its longer term prospects on likely soaring demand for electric cars. Vale cut its nickel output estimate by 15% to 263 000 t next year and... 

Fortescue awards Port Hedland towage operator contract

By: Mariaan Webb     6th December 2017 Iron-ore mining company Fortescue Metals has appointed Kotug Australia as its towage services operator for the port of Port Hedland. The new contract, which was awarded following a competitive tender process, will see Kotug supply an additional three tug boats to complement Fortescue’s six new... 

India likely to tweak iron ore fines grades to lower incidence of export tax

By: Ajoy K Das     5th December 2017 The Indian government is considering more gradations in iron-ore fines, based on ferrous content that will offer partial relief from incidence of export tax. The Mines Ministry has constituted a committee to review the existing export duty structure on iron-ore fines and to reconcile conflicting... 

Cleveland-Cliffs launches two debt offerings to fund first hot briquetted iron plant

By: Henry Lazenby     5th December 2017 US iron-ore producer Cleveland-Cliffs has launched two debt offerings totalling $716-million to help fund its first hot briquetted iron (HBI) production plant – a $700-million expansion to Cliffs’ production capabilities targeting the electric arc furnace steel market. Based in Cleveland, Ohio,... 

Vale to use cash flow to pay dividends, reduce debt – CEO

By: Reuters     4th December 2017 Brazil's Vale, the world's top iron-ore producer, will use cash flow, which could reach $14-billion or $15-billion this year, to cut debt and pay dividends, CEO Fabio Schvartsman said on Monday. Speaking at an event in Rio de Janeiro, Schvartsman said the miner tended to generate $14-billion or... 

Change or lose another 100 000 mining jobs – Cutifani

By: Martin Creamer     4th December 2017 Without change, the South African mining industry would lose another 100 000 jobs, said Anglo American CEO Mark Cutifani, who six years ago accurately predicted the recent 100 000 job demise in South African mining. “I'll say it again, absent of change, we’ll lose another 100 000 jobs,” the... 

Change or lose another 100 000 mining jobs – Cutifani
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Iron-ore enters bull market as China's curbs supercharge steel

By: Bloomberg     4th December 2017 Iron-ore has rallied back into a bull market. Prices are surging as China’s crackdown on steel output this winter runs down inventories, helping mills’ profitability and stoking demand for high-grade ore even as investors discount signs of ample supply. Spot ore with 62% iron content jumped 3.7%... 

Fortescue appeals Aboriginal land rights case

By: Creamer Media Reporter      4th December 2017 Iron-ore miner Fortescue Metals has lodged an appeal against a Federal Court ruling in favour of an indigenous Aboriginal group’s claims over land that it uses to mine in the Pilbara. Fortescue CEO Nev Power said on Monday that the group welcomed the recognition of the Yindjibarndi native title,... 

Rio Tinto aims for 'intelligent' Australian iron-ore mine

By: Reuters     4th December 2017 Rio Tinto next year will seek board approval to develop an "intelligent" iron ore mine at a cost of $2.2-billion, fully incorporating technologies such as robotics and driverless trains and trucks on a single site, the company's head of iron-ore said on Monday. A feasibility study was underway... 

Rio Tinto aims for 'intelligent' Australian iron-ore mine
Rio Tinto Iron Ore CEO Chris Salisbury

Change of name for BCI to reflect broader strategy

By: Mariaan Webb     4th December 2017 BCI Iron has changed its name to BCI Minerals to reflect the broadening of the company’s strategy to increase its focus on additional commodities. The ASX-listed company has expanded its focus to also include a presence in gold and base metals and has set out to be an “influential Australian... 

Dassault Systèmes heralding in new autonomous mining era  

By: Martin Creamer     30th November 2017 The 'mine of tomorrow' is expected to be a factory-like entity equipped with a multiplicity of autonomous devices, which are controlled by technology savvy personnel working from remote centres, attendees of the natural resources forum heard in Sandton on Thursday. The ‘mine of tomorrow’ would... 

Dassault Systèmes heralding in new autonomous mining era
Dassault Systèmes Geovia CEO Raoul Jacquand interviewed by Mining Weekly Online’s Martin Creamer on mine modernisation. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer.

Australian industry prepares for possible summer power cuts

By: Reuters     30th November 2017 Some of Australia's biggest power users, including mining giant BHP, are taking steps to curb the impact of any repeat of crippling blackouts that hit last summer, worried about a grid that increasingly relies on wind power and old coal-fired plants. Their back-up strategies come despite... 

Fortescue unveils ‘core’ leadership team, names Gaines new CEO

By: Mariaan Webb     30th November 2017 Iron-ore miner Fortescue Metals has rearranged its management to from a core leadership team, led by new CEO Elizabeth Gaines. Gaines is moving from her position as CFO and is replacing Nev Power, who in September announced that he would step down early next year. 

Fortescue unveils ‘core’ leadership team, names Gaines new CEO
CEO-elect Elizabeth Gaines

RCR to design relocatable conveyor for Cloudbreak mine

By: Creamer Media Reporter      29th November 2017 Engineering and infrastructure company RCR Tomlinson has been awarded a A$33-million contract to design, manufacture and construct a 5 km relocatable conveyor system for Fortescue Metals. The relocatable conveyor system will be trailed at the Cloudbreak mine, near Nullagine in the Pilbara. 

Goldman sees iron-ore sinking to $50/t as supply expands again

By: Bloomberg     29th November 2017 Iron-ore will weaken next year as global supplies increase including from a new mine in Brazil at the same time that steel production risks topping out in China, according to Goldman Sachs Group, which expects prices to decline back toward $50 a metric ton. Futures fell. The raw material may... 

Goldman sees iron-ore sinking to $50/t as supply expands again

Altiplano delivers first bulk-sample ore to toll mill

By: Henry Lazenby     29th November 2017 TSX-V-listed explorer Altiplano Minerals has shipped the first 100-t sample of ore taken as part of a bulk sample at the Farellon copper/gold mine, in Chile, for toll milling. The Edmonton, Alberta-based miner said on Tuesday that since the Comet Joint Venture (CJV), in which it has earned a 50%... 

Withdrawal of entire MPRDA only constitutionally acceptable solution – Leon

By: Martin Creamer     28th November 2017 The process of reconsidering the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill has generated a new range of procedural missteps and failed to address any of the substantive problems in the Bill, leaving the entire withdrawal of the Bill as the only constitutionally... 

Withdrawal of entire MPRDA only constitutionally acceptable solution – Leon
Photo by Duane Daws
Herbert Smith Freehills Africa co-chair and partner Peter Leon.

Red Rock widens FY losses, but confident of stable financial position

By: Natasha Odendaal     24th November 2017 Despite having widened its losses for the year ended June 30, Aim-listed Red Rock Resources chairperson and CEO Andrew Bell on Friday assured shareholders that the company was in an improved financial position. Red Rock reported a post-tax loss of £1.1-million in 2017, increasing from the losses... 

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