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Iron Ore News

AMSA insists further protection still required despite recent price increases

By: Terence Creamer     Updated 4 hours ago Safeguard duties, in addition to the 10% protection already introduced on a range of steel products entering South Africa, “remain critical in the short term to ensure the future sustainability of primary steel production”, ArcelorMittal South Africa (AMSA) said on Friday. Releasing an... 

Surface mining equipment market boost

Based on a report by global market research and consulting service provider Global Market Insights (GMI), the surface mining equipment market is likely to be valued at $28.97-billion by 2022. The company notes in a press release in April that the flourishing demand for metallic ore as well as... 

Surface mining equipment market boost
Photo by Bloomberg
EQUIPMENT VALUE Opencast mining equipment reduces manpower needs, as these machines offer high accuracy while cutting stable, as well as, steep surfaces

Du Plessis stalls iron-ore growth as Rio opts for ‘any-and-all’ debt cutting

By: Martin Creamer While South African-born Rio Tinto chairperson Jan du Plessis was vowing not to expand Rio’s iron-ore division beyond 360-million tonnes a year, the globally perceived over-producer of iron-ore was outlining the steps it had taken to cut near-term maturing gross debt by $1.5-billion. Rio said... 

Du Plessis stalls iron-ore growth as Rio opts for ‘any-and-all’ debt cutting
Photo by Duane Daws
Jan du Plessis

Fortescue wipes out more debt

By: Esmarie Swanepoel Iron-ore major Fortescue Metals has issued a $650-million repayment issue for its 2019 senior secured term loan. The repayment comes just days after the miner announced a $577-million repayment of senior unsecured notes. 

A glut faces Indian iron-ore miners

By: Ajoy K Das India is facing an imminent glut in iron-ore with production forecast at 180-million tonnes for the 2016/17 financial year and a current carryover stockpile of 140-million tonnes. The increase in stockpiles came despite a 63% drop in imports during 2015/16, to 5.6-million tonnes, with miners... 

Kogi moves to advance Nigerian iron project

By: Esmarie Swanepoel ASX-listed Kogi Iron is advancing its Agbaja project, in Nigeria, towards development following successful tests conducted to determine the smelting characteristics of the project’s ore. Kogi was hoping to build an initial mining operation alongside a 250 000 t/y steel product processing plant at... 

Companies bought to enhance training offering

Training, supply and management group Workforce Holdings announced in January that it had acquired the various operating companies comprising outsourcing solutions providers Quyn Outsource Solutions. Workforce has predominantly placed staff in nontechnical positions and adding Quyn to its service... 

Companies bought to  enhance training offering
Photo by Bloomberg
SKILLS OFFERING EXPANDED Quyn Outsource Solutions’s e provision of technical skills to clients across a range of industries represents diversification for Workforce

MetSkill

By: Creamer Media Reporter Process industry training provider MetSkill is actively involved with the development of the new occupational qualifications for the Quality Council for Trades and Occupations under the Mining Qualifications Authority (MQA). Benoni, Gauteng-based MetSkill, 100% owned by MD Rebecca Sands, has... 

Mineworkers empowered

By: Kimberley Smuts If workers in the mining, energy and construction industries want to improve their financial situation, it is important that they take advantage of the financial literacy programmes currently being rolled out by financial assistance provider Mineworkers Investment Trust (MIT), which supports... 

Mineworkers empowered
Photo by Bloomberg
INVESTING FOR THE FUTURE The Mineworkers Investment Trust's financial literacy training started in Mpumalanga as a pilot study in June 2015 with more training expected to take place this year

Society aims to integrate more students into mining sector 

By: Kimberley Smuts The University of Witwatersrand's Students Mining Engineering Society (SMES) aims to increase the integration of mining engineering graduates into the mining industry this year, as well as to encourage mining engineering students to have an opinion on mining-related issues in South Africa. SMES... 

Society aims to integrate more students into mining sector
FORTUNE MSIBI Mining engineering students face the challenge of a lack of available jobs in the sector, as a result of South Africa’s financial crisis

Technological advancements continue despite mining sector’s downturn

By: Sascha Solomons Beneficial trends and technological advancements in the mining industry are being introduced regardless of the depressed market conditions that the sector faces, says environmental management company I-CAT Environmental Solutions technical manager Morne van Wyk. One such trend is recycling water... 

Technological advancements continue despite mining sector’s downturn
HYFLUX KRISTAL HOLLOW-FIBRE Ensure the effective and environmentally safe reduction of excess wastewater in the mining industry

Brazil's Vale seeing improved iron-ore demand in China

By: Reuters The global iron-ore market is in better condition than expected, with Chinese demand improving, the CEO of Brazil's Vale said on Thursday. Murilo Ferreira told investors on a conference call that he had been positively surprised by the health of the Chinese market during a visit to the world's... 

Cliffs rallies as strong Q1 performance sees it back in the black

By: Henry Lazenby The largest US iron-ore producer Cliffs Natural Resources rallied as much as 35% to $5.38 a share on the NYSE on Thursday, after swinging to a first-quarter profit amid sustained market improvement. For the three months ended March 31, Cliffs recorded net income attributable to Cliffs' common... 

Cliffs rallies as strong Q1 performance sees it back in the black

New Transnet chief prioritising diversification as commodity ‘meltdown’ bites 

By: Terence Creamer State-owned freight logistics group Transnet is taking aim at new sectors, such as fast-moving consumer goods (FMCG) and manufacturing, as it seeks to sustain volumes amid the prevailing commodity “meltdown”. Speaking publically for the first since his appointment as permanent Transnet CEO,... 

New Transnet chief prioritising diversification as commodity ‘meltdown’ bites
Photo by Duane Daws
Transnet CEO Siyabonga Gama

Iron-ore, steel lead China commodities retreat as curbs bite

By: Reuters A major Chinese commodities exchange took further steps to calm volatile markets on Wednesday, hiking transaction fees and widening trade limits in a move that could make exiting futures contracts more orderly. Iron-ore and steel futures fell again in reaction to higher trading costs, brought in... 

Iron-ore, steel lead China commodities retreat as curbs bite

Atlas shareholders vote to restructure debt

By: Esmarie Swanepoel The shareholders of iron-ore miner Atlas Iron have voted in favour of a debt restructuring deal, allowing the company to remain afloat despite the difficult market conditions. Shareholders holding a combined 97.87% of the company voted in favour of the transaction, while those holding only a... 

Fortescue buys out more debt

By: Esmarie Swanepoel Iron-ore miner Fortescue Metals would repay $577-million in debt through after issuing voluntary redemption notices to holders of 2019 notes. “This debt repayment delivers on our sustained commitment to reduce all-in costs, further generating strong cash flows and continuing to reduce our debt,”... 

World Bank does not see platinum rally being sustained

By: Terence Creamer The World Bank does not expect the recent rise in platinum prices to be sustained for the full year, with its latest ‘Commodity Markets Outlook’ report forecasting a 10% year-on-year price decline in 2016. The report, released on April 26, notes that precious metals prices increased by 6% in the... 

World Bank does not see platinum rally being sustained

Indian miners flay government push for iron-ore value addition

By: Ajoy K Das Indian miners have flayed the government decision to promote only the exports of value-added iron-ore as “fallacious”. Miners claim that being competitive in the production and export of iron-ore does not necessarily mean that conserving the same for domestic operations would improve India's... 

Empty mining pipeline expected to be hot Junior Indaba topic

By: Martin Creamer Mining’s problematic empty pipeline, which should be a major worry to both the mining industry and governments, is expected to be a hotly debated topic at the upcoming Junior Indaba in Johannesburg. Chairperson Bernard Swanepoel said on Monday that the Junior Indaba’s recently launched programme... 

Empty mining pipeline expected to be hot Junior Indaba topic
Photo by Duane Daws
Bernard Swanepoel

Anglo bettering North American safety benchmark

By: Martin Creamer Safety improvement at Anglo American mines has put the diversified mining company ahead of the North American mining industry, the leading point of reference. While in full production mode, the London- and Johannesburg-listed business achieved a fatality-free fourth quarter (Q4), which on top of... 

Anglo bettering North American safety benchmark
Photo by Duane Daws
Mark Cutifani

Petmin’s Q3 anthracite production down 22% y/y

Metallurgical anthracite production at JSE-listed Petmin’s Somkhele mine, in KwaZulu-Natal, decreased by 22% year-on-year to 261 739 t in the quarter ended March 31. Production had been affected by geological conditions in the Luhlanga openpit – one of the three openpits being mined. 

Limpopo govt rejects application to establish iron-ore mine in Thabazimbi

By: Ilan Solomons The Limpopo Department of Economic Development and Tourism (LEDET) has turned down exploration company Aquila Steel’s application to establish an iron-ore mine in Thabazimbi, Limpopo. This decision has been welcomed by the Cape Town-based nonprofit organisation and law clinic Centre for... 

Limpopo govt rejects application to establish iron-ore mine in Thabazimbi
MADIMATLE MOUNTAIN Aquila Steel has “unlawfully” constructed over 33 km of roads “all over” the Madimatle mountain and drilled in about 200 locations

Patel confirms 10% protection for two more steel products

By: Terence Creamer Economic Development Minister Ebrahim Patel announced on Thursday that that the International Trade Administration Commission of South Africa (Itac) had recommended the imposition of a tariff duty of 10% on two additional steel products – hot rolled coil (HRC) and certain steel bars and rods.... 

Patel confirms 10% protection for two more steel products

Anglo diamond, copper, coal, manganese alloy, niobium outputs fall

By: Martin Creamer Diversified mining company Anglo American has produced less diamond, copper, coal, manganese alloy and niobium in the three months to March 31. Diamond production fell by 10%, copper production by 19%, export thermal coal by 13%, export metallurgical coal by 9%, Eskom coal by 8% and niobium by 13%. 

Anglo diamond, copper, coal, manganese alloy, niobium outputs fall
Mark Cutifani

Kumba Iron Ore sales down

By: Martin Creamer Output from Kumba Iron Ore has tumbled considerably, along with exports. First-quarter production has taken both a quarter-on-quarter and a year-on-year plunge, owing to the Sishen iron-ore mine transitioning to a lower-cost pit configuration. 

Kumba Iron Ore sales down
Photo by Duane Daws
Norman Mbazima

Atlas posts record quarter as it struggles to stay afloat

By: Esmarie Swanepoel Iron-ore miner Atlas Iron on Thursday reported a record quarter of production, with the miner shipping 3.9-million tonnes of ore during the three months to March, a 7% increase on the previous quarter. Ore mined for the quarter increased by 9% on the previous quarter to 3.82-million tonnes,... 

Iron Road reduces opex at Central Eyre

By: Esmarie Swanepoel ASX-listed developer Iron Road has reduced the operating cost expectations of its planned Central Eyre iron project, in South Australia, on the back of market repricing. An October optimisation study resulted in a reduction in the expected life-of-mine free-on-board (FOB) costs from the... 

South Australian govt still backing Arrium

By: Esmarie Swanepoel South Australian Treasurer, State Development, Finance and Mineral Resources and Energy Minister Tom Koutsantonis said on Wednesday said that the state government was continuing its work to save embattled iron-ore and steel producer Arrium. ASX-listed Arrium earlier this month went into... 

Arrium administrator and Morgan Stanley agree to work on $75m debt

By: Reuters The administrator for troubled Australian steel and iron ore group Arrium Ltd said it had agreed to work toward a "constructive" outcome with Morgan Stanley after the investment bank took legal steps to call in a three-year-old debt. Morgan Stanley filed action in the Delaware Chancery Court in... 

Atlas Iron proposes debt restructuring deal

By: Esmarie Swanepoel Iron-ore miner Atlas Iron has appealed to shareholders to vote in favour of a debt restructuring agreement, with chairperson Cheryl Edwardes warning on Monday that the company was facing voluntary administration should the deal not be approved. Atlas shareholders were set to meet on April 27 to... 

Mt Gibson remains at steady output, lowers costs

By: Esmarie Swanepoel Iron-ore miner Mount Gibson Iron has reported another quarter of steady sales, despite the tough economic conditions faced by iron-ore miners. Total ore sales for the three months to March 31 reached 1.54-million tonnes, compared with the 1.52-million tonnes sold in the previous quarter. 

Creamer Media publishes Iron-Ore 2016: A review of the iron-ore sector research report

Creamer Media’s Iron-Ore 2016 report provides an overview of the global iron-ore market, with particular reference to supply, demand, trade and pricing. It provides not only information on the major global iron-ore producing companies and other significant producers but also an overview of South... 

Creamer Media publishes Iron-Ore 2016: A review of the iron-ore sector research report

Zwane gazettes Mining Charter review for comment

By: Martin Creamer Mineral Resources Minister Mosebenzi Zwane on Friday gazetted the draft reviewed broad-based black economic empowerment Mining Charter for public comment. The Ministry said in a release to Creamer Media’s Mining Weekly Online that the draft sought to strengthen the charter’s efficacy to effect... 

Zwane gazettes Mining Charter review for comment
Photo by Duane Daws
Mosebenzi Zwane

Rio Tinto and Sinosteel extend Pilbara iron-ore JV

By: Esmarie Swanepoel Mining major Rio Tinto has extended its joint venture (JV) agreement with China’s Sinosteel Corporation in the Pilbara. The miner said on Friday that the extension of the Channar mining JV, as well as a separate agreement under which Rio would supply iron-ore from the Pilbara, would enable the... 

China’s latest five-year plan points to further mining consolidation

By: Mia Breytenbach China's thirteenth Five-Year Plan points to further consolidation in the mining industry along with heightened environmental protection, which will affect the steel and coal sectors most, as well as hurt countries that export iron-ore and coal to China, predicts research firm BMI Research. The... 

China’s latest five-year plan points to further mining consolidation
Photo by Bloomberg
DEMAND DOWNTURN BMI’s predictions include that China's steel production will register a steady decline, averaging -1.3% year-on-year from 2016 to 2020

Middle East, North Africa on mining periphery despite hosting 30% of the world’s minerals

By: Ilan Solomons Despite having more than 30% of global mineral reserves, the Middle East and North Africa (MENA) region severely lacks exploration and resource development investment. The region’s mining industry is facing several challenges such as social and environmental pressure from communities living near... 

Middle East, North Africa on mining periphery despite hosting 30% of the world’s minerals

Indian panel to reconcile iron-ore exports conflict

By: Ajoy K Das India will establish a panel of experts to align the apparent contradictions contained within the government’s policy for iron-ore export to deliver greater value addition within the country. The panel would be set up within the national policy think tank National Institute for Transformation of... 

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