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Iron Ore News

India state may cancel NMDC's Donimalai mine lease in levy dispute

By: Reuters     16th November 2018 The government of India's Karnataka state on Friday warned NMDC that it will cancel the lease of its Donimalai iron-ore mine if the State-owned miner refuses to pay an additional levy on the sale of its ore. Karnataka's threat to cancel the lease stems from a dispute between NDMC, India's... 

BHP blames driver error, brake problem for runaway train wreck

By: Reuters     16th November 2018 BHP said on Friday that driver error caused an iron-ore train to run away without its driver and a brake problem caused the company to intentionally derail the train in order to stop it, according to a preliminary investigation. BHP said its initial findings of the November 5 incident showed the... 

Supreme Court to hear appeal in long-running Rio Tinto IOC-Innu suit

By: Mariaan Webb     16th November 2018 The Supreme Court of Canada has agreed to hear an appeal by the government of Newfoundland and Labrador on the issue of the jurisdiction of Quebec courts in respect of the Innu communities of Uashat mak Mani-Utenam and Matimekush-Lac’s C$900-million lawsuit against a unit of global miner Rio... 

Vale holds talks to expand world's biggest openpit iron mine

By: Bloomberg     15th November 2018 Vale is holding talks with Brazilian officials about expanding the world’s largest open pit iron-ore mine to meet growing Chinese demand for the high-grade ore. The Rio de Janeiro-based company recently sat down with regulators to discuss expanding its $14-billion mine located in the Amazon... 

Koolyanobbing unaffected by derailment - MinRes

By: Esmarie Iannucci     12th November 2018 ASX-listed Mineral Resources on Monday told shareholders that a train derailment over the weekend was not expected to have a material impact on iron-ore production at the Koolyanobbing project, in Western Australia, or on the company’s shipment schedule. Mineral Resources over the weekend... 

Second Australian iron-ore train derailed in less than a week

By: Bloomberg     11th November 2018 Australia’s iron-ore industry was hit with a second train derailment in a week when 30 empty ore wagons ran off the tracks in the southern part of Western Australia on Sunday. The second derailment happened at 7:30 a.m. Perth time south of Norseman as an ore train returned from the southern... 

Baffinland sets shipping record

By: Creamer Media Reporter      9th November 2018 Baffinland Iron Ore Mines has set a new shipping record of 5.1-million tonnes in its most recent shipping programme. From July 24 to October 17, 71 voyages were executed from the mine on Baffin Island, Nunavut, carrying an average of 71 750 t of iron-ore each over an 86-day period. 

Atlas compulsory acquisiton set to start

By: Esmarie Iannucci     9th November 2018 Hancock Prospecting will start the compulsory acquisition of the remaining shares in ASX-listed Atlas Iron, after gaining more than a 90% shareholding in the takeover target at the end of the offer on October 12. Hancock’s subsidiary Redstone Corporation on Friday told Altas that it would lodge a... 

Mining production down 1.8% y/y in September, led by lower gold output 

By: Marleny Arnoldi     8th November 2018 Mining production decreased by 1.8% year-on-year in September, with the largest negative contributor being gold production with a decline of 19% and contributing -3.1 percentage points. The largest positive contributor was platinum-group metals (PGMs), which had a 7.2% production increase,... 

Mining production down 1.8% y/y in September, led by lower gold output

BHP says Port Hedland stockpile insufficient to cover for derailment

By: Esmarie Iannucci     7th November 2018 Mining giant BHP has warned that iron-ore stockpile reserves at Port Hedland will not be sufficient to cover the entire period of interruption to its rail operations, following an intentional train derailment earlier this week. The miner will be liaising with customers in relation to its... 

BHP says Port Hedland stockpile insufficient to cover for derailment

Runaway iron-ore train derailment will take BHP a week to solve

By: Bloomberg     6th November 2018 BHP Billiton expects to take about a week to recover from the derailment of one of its iron-ore trains that’s halted its rail operations in Western Australia, potentially bolstering prices of the steelmaking raw material. The company was forced Monday to derail the train that traveled 92 km... 

BHP's runaway train damaged after 92-km run, Australia starts probe

By: Reuters     5th November 2018 A train loaded with iron ore and operated by BHP Billiton ran away without a driver for 92 km before being forcibly derailed in the early hours of Monday, the company and Australian authorities said. As a result, the world's biggest miner had suspended all Western Australian iron ore rail... 

China demand for Vale ore to keep price above $90/t in 2019 -CFO

By: Reuters     2nd November 2018 Chinese demand for top-quality iron-ore from Brazilian miner Vale should stay strong despite trade tensions with the United States, helping the world's top iron-ore producer keep its prices above $90/t in 2019, an executive said. CFO Luciano Siani said the Chinese demand would also support... 

China demand for Vale ore to keep price above $90/t in 2019 -CFO

Volvo launches 95 t rigid hauler for coal, bulk commodities sectors

By: Schalk Burger     2nd November 2018 Earthmoving equipment manufacturer Volvo Construction Equipment launched a new 95 t rigid hauler for the coal and bulk commodities industries in Southern Africa. Its local partner, construction equipment company Babcock Equipment, will provide the support and services for the machines, says Volvo... 

Volvo launches 95 t rigid hauler for coal,  bulk commodities sectors
VOLVO 95 T RIGID HAULER The hauler has an array of sensors and systems to ensure safety, ease of use and productivity

Afrimat prospers in H1, despite tough economic environment

By: Simone Liedtke     1st November 2018 Openpit mining company Afrimat on Thursday posted a 4.3% year-on-year improvement in operating profit to R202.7-million for the six months ended August 31, while revenue increased by 28.6% year-on-year to R1.5-billion. These positive results, CEO Andries van Heerden said at a media breakfast,... 

India considering ordinance to resume Goa iron-ore mining

By: Ajoy K Das     30th October 2018 With national elections barely a year away and pressures mounting from the ground up, India’s federal government is considering bringing in an ordinance to resume iron-ore mining in the western coastal state of Goa. Sources say that local government is concerned over the impact of the closure of... 

Rio Tinto says $1.3bn Simandou sale lapses 

By: Esmarie Iannucci     29th October 2018 Diversified miner Rio Tinto on Monday reported that the 2016 non-binding heads of agreement with Chinalco over the sale of its interest in the Simandou iron-ore project, in Guinea, had lapsed. Under the initial agreement, Rio would have received between $1.1-bilion and $1.3-billion for its 45.05... 

Volvo launches new 95 t rigid hauler for coal, bulk commodities industries

By: Schalk Burger     26th October 2018 Earthmoving equipment manufacturer Volvo Construction Equipment on Thursday launched a new 95 t rigid hauler for the coal and bulk commodities industries in Southern Africa. Its local partner, construction equipment company Babcock Equipment, would provide the support and services for the... 

Volvo launches new 95 t rigid hauler for coal, bulk commodities industries
Volvo R100E 95 t rigid hauler

Rio Tinto and partners to invest $1.5bn in Pilbara

26th October 2018 Diversified mining company Rio Tinto and its Pilbara joint venture (JV) partners Japanese group Mitsui and steel producer Nippon Steel & Sumitomo Metal have approved a $1.55-billion investment to sustain production capacity at two iron-ore projects that form part of the Robe River JV, in Western... 

Rio Tinto and  partners to invest $1.5bn in Pilbara
WEST ANGELAS Rio Tinto is investing $307-million in developing Deposits C and D at the existing West Angelas opencast iron-ore operation

Vale reports Q3 miss on forex, base metals

By: Reuters     25th October 2018 Brazil's Vale on Wednesday posted weaker-than-expected net income, as a weaker currency coupled with lower base metals production and prices weighed on the world's largest iron ore producer. The miner, also the world's largest nickel producer, reported $1.408-billion in third-quarter net income,... 

Atlas Sept quarter iron-ore shipments down 10%

By: Esmarie Iannucci     25th October 2018 Iron-ore miner Atlas Iron has reported another tough quarter in the three months to September, with iron-ore shipments declining from the 2.1-million tonnes in the June quarter, to 1.9-million tonnes. Atlas in late July this year suspended crushing activities at its Mt Dove operation, in the... 

Fortescue high-grade shipments to start in December

By: Esmarie Iannucci     25th October 2018 Iron-ore major Fortescue Metals’ optimised product strategy has delivered results in the three months to September, with the miner reporting higher average realised prices for its product. The company, which has been hit by a shift from Chinese steel mills’ to higher grade iron-ore., on Thursday... 

Fortescue high-grade shipments to start in December
Fortescue CEO Elizabeth Gaines

Mount Gibson lifts iron-ore sales in Sept quarter

By: Esmarie Iannucci     24th October 2018 Junior iron-ore miner Mount Gibson has reported an increase in iron-ore sales for the quarter ended September, with sales revenue increasing by some A$20-million over the previous quarter. Quarterly sales for the three months to September reached 1.1-million tonnes, compared with the 963 000 t... 

Anglo’s portfolio performs well in Q3  

By: Nadine James     23rd October 2018 Diversified miner Anglo American’s focus on driving efficiency and productivity across the business resulted in another strong quarter, with volumes for the third quarter 1% higher year-on-year, Anglo CE Mark Cutifani commented on Tuesday. “Production per employee has increased by 5% [so far this... 

Anglo’s portfolio performs well in Q3
Photo by Bloomberg
Anglo American CE Mark Cutifani

Brazilian pension fund Previ won't sell Vale shares before year end

By: Reuters     23rd October 2018 Brazilian pension fund Previ, one of iron ore miner Vale SA's largest shareholders, will not sell part of its stake before the year ends, its CEO said on Monday. Speaking on the sidelines of a conference in Rio de Janeiro, CEO Jose Mauricio Coelho said the fund intended to reduce its stake in... 

Kumba on track to meet FY18 guidance 

By: Nadine James     23rd October 2018 Although rail constraints resulted in a reduction in export sales for Kumba Iron Ore during the third quarter ended September 30, the Anglo American subsidiary remains on track to meet its full-year guidance of producing between 43-million and 44-million tonnes of iron-ore. The iron-ore miner on... 

Kumba on track to meet FY18 guidance
Photo by Nadine James
Sishen mine

MinRes buys BCI’s Kumina deposit, rules out interest in entire BCI portfolio

By: Esmarie Iannucci     22nd October 2018 Resource developer BCI Minerals has struck a A$35-million deal with fellow-listed Mineral Resources (MinRes) to divest of its Kumina iron-ore project, in the Pilbara. Under the terms of the agreement, MinRes will acquire the project for an initial A$27-million, with a further A$4-million payable... 

'You can run but you can't hide,' Cleveland-Cliffs CEO tells analyst

By: Bloomberg     19th October 2018 Cleveland-Cliffs CEO Lourenco Goncalves isn’t a fan of the Goldman Sachs Group analyst who covers his company. As shares of the largest US iron-ore producer fell as much as 10% Friday, Goncalves closed his analyst call by specifically calling out Goldman’s Matthew Korn. The CEO questioned Korn... 

SRK Ghana expanding into other West African markets

By: Nadine James     19th October 2018 As the economic mood in the global mining industry turns towards the better, SRK Consulting’s Accra office, in Ghana, has been making inroads into new markets in Côte d’Ivoire and Togo, SRK Ghana country manager John Kwofie noted in a release last week. He believes that there is potential for... 

SRK Ghana expanding into other West African markets
JOHN KWOFIE The Ghana office is a springboard to other countries in the region

August mining production down 9.1% y/y

By: Creamer Media Reporter      18th October 2018 South Africa’s mining production decreased by 9.1% year-on-year in August, Statistics South Africa reported on Thursday. The decrease was driven by lower output in the iron-ore, gold and platinum group metals (PGMs) sectors. 

Samarco could begin partial production in 2020 after dam burst – Vale CEO

By: Reuters     17th October 2018 Samarco, a joint mining venture between Brazil's Vale and BHP Billiton, could resume production at a third of its capacity at the beginning of 2020, Vale's CEO said on Tuesday. Samarco halted operations in late 2015 after one of its dams collapsed, killing 19 people and causing one of Brazil's... 

Ramp-up for Anglo American's Minas Rio mine likely delayed to 2021

By: Reuters     16th October 2018 Anglo American should restart operations at its Brazilian Minas Rio iron ore mine in November or December but a planned ramp-up to 26.5-million tonnes per year is likely to be pushed back to 2021 from 2020 as previously expected, the miner's Brazil chief said on Tuesday. The company halted... 

Ramp-up for Anglo American's Minas Rio mine likely delayed to 2021

Vale third-quarter iron-ore output hits all-time high

By: Reuters     16th October 2018 Iron-ore output at Brazilian miner Vale, the world's largest iron-ore producer, reached a record in the third quarter, boosted by the ramp-up of its S11D project in the Amazonian state of Pará. In a securities filing on Monday, Vale said iron-ore output jumped 10.3% from the year before to... 

Thabazimbi mine transfer to AMSA finalised

By: Simone Liedtke     12th October 2018 The transfer of ownership of the Thabazimbi iron-ore mine, from Kumba Iron Ore to steel producer ArcelorMittal South Africa (AMSA) has been finalised, Kumba said on Friday. Kumba in early 2017 agreed to transfer the mine, in Limpopo, to AMSA, for R1, plus the assumed liabilities. 

Mining Indaba intensely focused on driving capital into African mining 

By: Martin Creamer     11th October 2018 An investment pavilion will be introduced at the upcoming Investing in African Mining Indaba to drive capital into African mining with even greater intensity, MD Alex Grose said on Thursday. Speaking to Mining Weekly Online during a media roundtable, Grose also revealed that more time would be... 

Mining Indaba intensely focused on driving capital into African mining
Investing in African Mining Indaba MD Alex Grose spoke to Mining Weekly Online’s Martin Creamer about the upcoming event. Video, Video Editing and Photographs: Darlene Creamer

Fortescue launches A$500m share buy-back

By: Esmarie Iannucci     11th October 2018 Iron-ore major Fortescue Metals has launched a A$500-million share buy-back programme. CEO Elizabeth Gaines told shareholders on Thursday that the share buy-back was a natural extension of the company’s capital allocation focus, which has shifted from debt reduction following the rapid de-gearing... 

Plea for govt to awaken to massive economic potential of mining  

By: Martin Creamer     10th October 2018 A plea for the government to awaken to the massive real potential of the South African mining sector was made on Wednesday by Eunomix CEO Claude Baissac, who decried the disincentivising of South African mining over the past 20 years as an inexplicable paradox and a massive mineral policy... 

Plea for govt to awaken to massive economic potential of mining
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer on South Africa’s massive mining opportunity loss. Video, Video Editing and Photographs: Christo Greyling.

Hancock's offer for Atlas about to close

By: Esmarie Iannucci     9th October 2018 Hancock Prospecting’s takeover offer for iron-ore miner Atlas will close on October 12, with the suitor gaining more than a 90% interest in Atlas to date. Hancock said that the shareholding would allow the company to start the compulsory acquisition of the remaining shares in Atlas under the... 

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