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Iron Ore News

Guinea risks 'conflict and confusion' with mining eviction policy

By: Reuters     22nd March 2019 Civil society groups rejected Guinea's first policy seeking to protect people displaced by mines and dams on Thursday, saying it would worsen poverty and conflict in the mineral-rich nation. Seven human rights and development organisations asked the government not to adopt the proposed national... 

Macarthur finds buyer for Lake Giles iron-ore

By: Esmarie Iannucci     22nd March 2019 Canada’s Macarthur Minerals has inked a binding $4-billion life-of-mine offtake agreement with diversified major Glencore over the iron-ore at its Lake Giles project, in Western Australia. the terms of the agreement, Glencore would acquire an average of four-million tonnes a year of Lake Giles... 

Australian drilling programme makes promising start

22nd March 2019 A drilling programme at a sizeable anomaly beneath a dry salt lake in South Australia, has been successfully completed with encouraging preliminary geology observations. The Torrens project is located within the Stuart Shelf region of South Australia about 50 km from modern mining company Oz... 

Australian drilling  programme makes  promising start
TO DRILL “ORE” NOT TO DRILL The drilling at the large anomaly has shown promising geological results

Miner Vale quashed dam safety audit efforts before Brazil disaster -prosecutor

By: Reuters     21st March 2019 Executives at Vale SA , the world's largest iron ore miner, quashed efforts by Brazilian authorities to audit one of the company's mining dams months before it collapsed and killed over 300 people, a state prosecutor was quoted as saying by news website G1 on Wednesday. William Garcia, a... 

Vale halts operations at another mine in Minas after test

By: Reuters     21st March 2019 Brazilian mining company Vale SA said on Wednesday it halted operations at its Alegria iron ore mine in Minas Gerais state after a "stress test" in the structures failed to guarantee stability. Vale said the results of the test were "inconclusive," so it decided to suspend operations while it... 

Centaurus has another look at Jambreiro

By: Esmarie Iannucci     21st March 2019 Brazil-focused Centaurus Metals will re-assess the development options at its Jambreiro iron-ore project, which is fully permitted and licensed for a three-million tonne a year production. Centaurus on Thursday said that it would update the Jambreiro feasibility study on the back of a number of... 

Fortescue ‘excited’ about potential new 10Mt/y Pilbara project

By: Esmarie Iannucci     20th March 2019 Iron-ore major Fortescue Metals is working with its partners on the Iron Bridge magnetite project to advance the Pilbara project towards a final investment decision. COO Greg Lilleyman said on Wednesday at the Global Iron & Steel Forecast conference, in Perth, that the proposed... 

Koolan Island to ship in April

By: Esmarie Iannucci     20th March 2019 ASX-listed Mount Gibson would ship its first ore from the Koolan Island hematite project, in the Kimberley region of Western Australia, during the second half of April. CEO Peter Kerr on Wednesday told Mining Weekly Online on the sidelines of the Global Iron and Steel forecast, in Perth, that... 

Iron-ore tops the charts in WA

By: Esmarie Iannucci     20th March 2019 Iron-ore contributed A$61.7-billion in earnings to Western Australia during 2017-18, with the sector accounting for more than half of all mineral and petroleum sales. Resources Minister Bill Johnston on Wednesday told delegates at the Global Iron & Steel Forecast that a record 826-million tonnes... 

Vale dam fallout deepens with mine closure and blocked funds

By: Bloomberg     19th March 2019 Vale’s shares declined on Monday as the world’s biggest iron-ore producer faces continued backlash from Brazilian authorities after a deadly mining accident in January. Rio de Janeiro-based Vale was ordered on March 15 to shut its Timbopeba mine in Minas Gerais state, which produces 12.8-million... 

At least 30 people die after Angola mine collapse

By: African News Agency      18th March 2019 A deadly mine collapse in Angola has left at least 30 people dead.  The incident occurred in Chipindo municipality in Angola’s south-west Huila Province as illegal gold miners mined for gold, the state media reported on Sunday. 

Brazil court orders Vale to stop operations at another mine

By: Bloomberg     18th March 2019 A Brazilian court ordered Vale to halt production at another of its iron-ore mines, further reducing the company’s output capacity after a deadly dam burst increased government scrutiny over its operations. The Timbopeba mine in Minas Gerais state produces 12.8-million tons of iron-ore per year,... 

AMSA says contingency plans in place as Numsa strikes over ‘labour brokers’ 

By: Terence Creamer     12th March 2019 Steel producer ArcelorMittal South Africa (AMSA) says it has introduced contingency plans at its various plants to minimise the potential impact on production of a National Union of Metalworkers of South Africa (Numsa) strike. The union indicated on Tuesday that a strike had been declared, owing... 

AMSA says contingency plans in place as Numsa strikes over ‘labour brokers’
Photo by Creamer Media
AMSA's Vanderbijlpark steel mill

BHP crew applied brakes to wrong ore train before runaway crash

By: Bloomberg     12th March 2019 BHP Group’s runaway iron-ore train saga has taken another twist. A preliminary report into last year’s calamity in the remote Australian outback has found a rail maintenance crew sent to help the faulty freight train inadvertently worked on the wrong vehicle. 

Brazilian town fines Vale, closes port terminal in Rio de Janeiro state

By: Reuters     12th March 2019 The town of Mangaratiba, in Brazil's Rio de Janeiro state, fined miner Vale and closed its iron ore port terminal on Monday, citing pollution problems and the alleged lack of an operating license. The city's environment department fined Vale for 30-million reais and closed the Ilha da Guaiba... 

Gindalbie flags major changes

By: Esmarie Iannucci     11th March 2019 ASX-listed Gindalbie Minerals on Monday announced the demerger of its subsidiary Coda Minerals, and its simultaneous takeover by Chinese shareholder Ansteel. The demerger of Coda, which holds the rights to a significant and strategic portfolio of tenements in South Australia, would be done... 

Russia wants to join Luxembourg in space mining

By: Reuters     6th March 2019 Russia, a leading producer of natural resources, plans to join Luxembourg in mining for minerals in outer space, Russian Deputy Prime Minister Tatyana Golikova said on Wednesday. Space mining has been the realm of science fiction, but a handful of firms and governments are pursuing the idea of... 

Russia wants to join Luxembourg in space mining

ArcelorMittal reaches railway deal, resumes output at Bosnia mine

By: Reuters     6th March 2019 ArcelorMittal has agreed a provisional transportation deal with a Bosnian regional railway company, the steelmaker said on Wednesday, allowing production to resume at its iron ore mines in northwestern Bosnia. Production at the mine was halted after talks on the deal with the Zeljeznice RS... 

Brazil Minister calls Vale 'important' even as prosecutors probe miner

By: Reuters     6th March 2019 Brazil's mining minister on Tuesday defended iron-ore miner Vale as vital to the country's economy, even after prosecutors accused the company of pressuring auditors to suppress evidence that its Brumadinho dam was unstable, months before the dam collapsed in January, killing hundreds. Minister... 

Brazil Minister calls Vale 'important' even as prosecutors probe miner
Minister Beno Albuquerque

Exxaro expects to report higher FY18 earnings

By: Marleny Arnoldi     5th March 2019 JSE-listed coal and heavy minerals miner Exxaro Resources expects to report attributable earnings per share (AEPS) of between R26.90 and R28.86 for the year ended December 31, 2018, which is an increase of between 39% and 49% compared with the R19.23 apiece reported for the year ended December... 

Exxaro expects to report higher FY18 earnings

Vale fired inspection firm that failed to certify dam -prosecutors

By: Reuters     5th March 2019 Brazilian iron-ore miner Vale fired an inspection firm because the company refused to certify one of its dams as safe, months before the barrier collapsed and killed hundreds, prosecutors said in a document filed this week, as they explained why they wanted top Vale executives ousted. After the... 

Vale CEO steps down temporarily after failing to avoid disaster

By: Bloomberg     3rd March 2019 Fabio Schvartsman stepped down temporarily as CEO of Vale as the world’s largest iron ore producer comes under increased government scrutiny for failing to prevent a second deadly burst of one of its hundreds of tailings dams in Brazil. “Even totally assured of my righteous ways and having... 

Vale CEO steps down temporarily after failing to avoid disaster
Fabio Schvartsman

ARM’s H1 headline earnings up 13% y/y 

By: Marleny Arnoldi     1st March 2019 Diversified miner African Rainbow Minerals (ARM) achieved a 13% increase in headline earning to R2.2-billion for the six months ended December 31, 2018, compared with R1.9-billion in the six months ended December 31, 2017. The company, which is led by chairperson Patrice Motsepe and CEO Mike... 

ARM’s H1 headline earnings up 13% y/y
Photo by Creamer Media
ARM chairperson Patrice Motsepe

Resources Watch  

28th February 2019 Pan African H1 revenue up 52.8% y/y to R1.3bn; Brazil iron-ore tragedy brings home reality of mining risk says Kumba; And, price premiums boosting quality-focused Kumba Iron Ore 

Resources Watch
Resources Watch

Alderon brings on board IPP for Kami power equipment

By: Creamer Media Reporter      28th February 2019 Project developer Alderon Iron Ore has signed a memorandum of understanding with Envest, whereby the independent power producer (IPP) will acquire and manage the equipment for the Kami mine, in western Labrador. The transaction will provide up to $35-million for power infrastructure, which... 

Rio adds tonnes in the Pilbara

By: Esmarie Iannucci     28th February 2019 Major Rio Tinto has increased the resource estimate for its Pilbara iron-ore operations, following a 700 000 m drilling programme in 2018. The miner on Thursday reported a new mineral resource estimate of 23.31-billion tonnes at its Pilbara assets, compared with the previous resource estimate of... 

Brazil Senate okays dam safety bill after Vale disaster kills hundreds

By: Reuters     28th February 2019 Brazilian Senate committees on Wednesday passed a bill to tighten dam safety in the country, after a mining dam owned by Vale SA burst and killed an estimated 300 people in the town of Brumadinho. The legislation, which tightens safety regulations on all types of dams, is similar to a regulation... 

Brazil judge orders Vale workers out of jail; miner's credit rating cut

By: Reuters     28th February 2019 A Brazilian judge on Wednesday ordered the release from jail of several Vale workers arrested last month in a criminal investigation of a deadly mine accident, saying there was no risk they would flee or destroy evidence. Separately, Vale's debt was downgraded by Moody's Investors Service, which... 

Freight rates drop as more ships become available – Assore 

By: Martin Creamer     27th February 2019 Freight rates have dropped quite substantially since the iron-ore tailings dam tragedy in Brazil ,with more vessels becoming available, Assore CEO Charles Walters reports. Since the Brumadinho dam disaster, some 30-million tonnes of iron-ore supply have been withdrawn from the market. 

Freight rates drop as more ships become available – Assore
Photo by Creamer Media
Assore CEO Charles Walters

Niron Metals, Sibanye-Stillwater, and Barrick Gold make headlines  

27th February 2019 This week, Mining Weekly editor Martin Creamer discusses Niron Metals looking to Guinea’s iron-ore, Sibanye-Stillwater’s upper group two performance and Barrick’s merger with Newmont.   

Niron Metals, Sibanye-Stillwater, and Barrick Gold make headlines
Niron Metals, Sibanye-Stillwater, and Barrick Gold make headlines . Editing: Creamer Media's Christo Greyling.

Assore earnings up, dividend maintained 

By: Martin Creamer     26th February 2019 Mining and marketing company Assore on Tuesday reported 20% higher headline earnings to R2.92-billion in the six months to December 31, buoyed by an improved price basket and weaker exchange rate. Assore's jointly controlled Assmang recorded headline earnings of R4.29-billion, an increase of 23%... 

Assore earnings up, dividend maintained
Assore image on latest presentation booklet.

Mick Davis’ Niron believes Zogota can unlock Guinea’s rich potential 

By: Martin Creamer     25th February 2019 Mining luminary Mick Davis’s new company Niron Metals on Monday expressed the belief that the development of the Zogota iron-ore endowment in Guinea had the potential to unlock the country’s rich resources for the benefit of all stakeholders.  Davis, who is well known for his impressive record in... 

Mick Davis’ Niron believes Zogota can unlock Guinea’s rich potential
Photo by Creamer Media
A flashback to Mick Davis' Xstrata days with South Africa's former Mineral Resources Minister Phumzile Mlambo-Ngcuka.

Mick Davis' Niron to develop Guinea's Zogota iron-ore deposit 

By: Creamer Media Reporter      25th February 2019 Niron Metals, headed by Mick Davis, on Monday confirmed in an email to Mining Weekly Online that a settlement had been reached between Guinea and Niron on mining concessions and licences. Reuters earlier on Monday quoted a BSG Resources (BSGR) spokesperson as saying that Niron would develop... 

Mick Davis' Niron to develop Guinea's Zogota iron-ore deposit
Photo by Bloomberg
Niron Metals' Mick Davis

Steinmetz stages Guinea comeback in Sarkozy-brokered deal

By: Bloomberg     25th February 2019 Israeli mining tycoon Beny Steinmetz is making a dramatic return to Guinea after the billionaire ended a bitter dispute with the West African country that brought his business empire to its knees. The settlement, brokered by former French President Nicolas Sarkozy, ends a seven-year-old dispute... 

Brazil regulator suspends operations at two Vale mine complexes

By: Reuters     21st February 2019 Brazil's mining regulator has ordered Vale SA to suspend activity at its Fabrica and Vargem Grande complexes, the iron ore miner said late on Wednesday, as authorities crack down after last month's fatal dam break. In a statement, Vale said the ANM mining regulator ordered the suspension in... 

Black Iron in talks with Glencore to finance Ukraine iron project

By: Creamer Media Reporter      20th February 2019 Canadian junior Black Iron on Wednesday announced that it had signed a nonbinding memorandum of understanding with a subsidiary of Glencore, pursuant to which the parties agreed to engage in formal negotiations to finance the construction of the Shymanivske iron-ore project, in Ukraine. The... 

Glencore auditing 140 slimes dams 

By: Martin Creamer     20th February 2019 Diversified mining and marketing company Glencore is auditing 140 slimes dams, 65 of them active and 75 of them closed. The company has been undertaking detailed assessments and audits of all material tailings storage facilities (TSFs) over the past three years, after accumulating a TSF... 

Glencore auditing 140 slimes dams
Photo by Glencore
Fifty-one percent of Glencore's tailings storage faciities are upstream dams.

Fortescue interim profit jumps, special dividend declared

By: Esmarie Iannucci     20th February 2019 Higher iron-ore prices over the six months to December has allowed major Fortescue Metals to report a 10% increase in revenue and a 21% increase in underlying earnings before interest, taxes, depreciation and amortisation (Ebitda). Fortescue on Wednesday reported that revenue for the six months... 

Fortescue interim profit jumps, special dividend declared
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