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Iron Ore News

Mt Gibson's revenue soars

By: Esmarie Iannucci     19th February 2020 Junior miner Mount Gibson Iron has reported higher revenues for the first half of 2020, on the back of increased iron-ore production. Mount Gibson on Wednesday reported that iron-ore sales for the six months to December had reached 2.8-million tonnes, up from the 2.2-million tonnes produced in... 

Fortescue's new mix and higher prices pay off

By: Esmarie Iannucci     19th February 2020 Iron-ore major Fortescue Metals has reported record half year revenues during the six months ending December, after iron-ore shipments increased by 7% on the previous corresponding period. Iron-ore shipments in the first half of the 2020 financial year reached 88.6-million tonnes, up from the... 

Fortescue's new mix and higher prices pay off

Alderon adds second Chinese partner to Kami mine

By: Mariaan Webb     18th February 2020 Beijing-headquartered diversified group Tunghsu has signed a letter of intent to acquire a 26% to 38% interest in the Kami Mine Limited Partnership (Kami LP) from Alderon Iron Ore for between $15-million and $23-million, the TSX-listed iron-ore company announced on Tuesday. Tunghsu will be the... 

Alderon adds second Chinese partner to Kami mine

India’s NMDC firms up capex to lift production by 50%

By: Ajoy K Das     18th February 2020 Indian State-run miner NMDC, the country’s largest iron-ore producer, has firmed up capital investments of $324-million to increase production by 50% to 48-million tons a year by the end of 2020/21. The State miner is committing higher capital expenditure (capex) and is significantly ramping up... 

Kumba pays out 92% of HEPS to shareholders as iron-ore prices lift earnings 

By: Marleny Arnoldi     18th February 2020 JSE-listed miner Kumba Iron Ore delivered a payout ratio of 92% of headline earnings per share (HEPS) for the year ended December 31, exceeding its 50% to 75% dividend payout policy. The company declared a final cash dividend of R15.99 apiece, which, combined with the interim dividend of R30.79... 

Kumba pays out 92% of HEPS to shareholders as iron-ore prices lift earnings
Photo by Creamer Media's Donna Slater
Kumba Iron Ore CEO Thamba Mkhwanazi

Rio downgrades iron-ore expectations after cyclone

By: Esmarie Iannucci     18th February 2020 Diversified giant Rio Tinto has downgraded its iron-ore export expectations for the full 2020, in the wake of Tropical Cyclone Damien. The miner on Tuesday noted that the cyclone had caused infrastructure damage across its entire Pilbara network, including access roads, electrical and... 

ARM's basic earnings expected to rise

By: Simone Liedtke     17th February 2020 Diversified miner African Rainbow Minerals (ARM) expects its basic earnings for the first half of the 2020 financial year to increase by between 60% and 65% to between just over R2-billion and R2.1-billion. Basic earnings per share for the six months under review are expected to be between 1 081c... 

Rio Tinto to build 34 MW solar plant at Pilbara mine

By: Mariaan Webb     17th February 2020 Diversified mining company Rio Tinto is investing in its first company-owned solar facility, with about 100 000 solar panels set to supply electricity to its new Koodaideri mine in Australia’s Pilbara. The company is investing $98-million in a 34 MW solar photovoltaic (PV) plant, which is... 

Rio Tinto to build 34 MW solar plant at Pilbara mine

Brazil state judge accepts charges against Vale ex-CEO, others over dam burst

By: Reuters     17th February 2020 A Brazilian state judge has accepted charges against Vale former CEO Fabio Schvartsman and 15 others related to a fatal disaster at the iron-ore miner's Brumadinho tailings dam a year ago, according to a statement on Friday. The move by a judge in Brazil's mining heartland of Minas Gerais... 

Brazil state judge accepts charges against Vale ex-CEO, others over dam burst
Former Vale CEO Fabio Schvartsman

Beowulf considering 'all legal options' over stalled Swedish project

By: Mariaan Webb     13th February 2020 Exploration and development company Beowulf Mining is considering “all options to take legal action” against the government of Sweden, but said on Thursday that it had not taken a decision yet. CEO Kurt Budge confirmed that the board of Beowulf met in Stockholm this week and that they were... 

Gold drives South Africa’s mining production higher

By: Simone Liedtke     13th February 2020 Mining production in South Africa increased by 1.8% year-on-year in December, Statistics South Africa (Stats SA) reported on Thursday. The largest contributors to this were gold, with output up 24.9% and contributed 2.7 percentage points; other nonmetallic minerals, which was up 24.1% and... 

India employs UAVs to protect Chhattisgarh iron-ore mines

By: Ajoy K Das     12th February 2020 The Indian government has beefed up security in the central state of Chhattisgarh to increase protection of iron-ore mining assets in the region from threats posed by ultra-left-wing extremists. Besides increasing deployment of central paramilitary personnel, the new security protocol is based on... 

Vedanta sets sights on zinc, silver, iron-ore output growth 

By: Kim Cloete     12th February 2020 CAPE TOWN (miningweekly.com) – Natural resources company Vedanta Resources is aiming to become the world's biggest producer of zinc, as well as to double its production of silver and increase its iron-ore output from 10-million to 15-million tonnes a year.  Vedanta has a presence in steel,... 

Vedanta sets sights on zinc, silver, iron-ore output growth
Vedanta Resources executives tell Mining Weekly correspondent Kim Cloete about the group's growth plans and its corporate social investment initiatives. Video and editing: Nicholas Boyd.

Vale loses spot as world's top iron-ore producer

By: Reuters     11th February 2020 Brazil's Vale on Tuesday posted a sharp output decline and $671-million in net additional provisions stemming from a deadly dam burst about a year ago, underlining the enduring effects of the incident on the iron ore giant. In a statement, the company reported a 22.4% fall in fourth-quarter... 

Vale loses spot as world's top iron-ore producer
Vale's S11D iron-ore plant.

Patel asked to brief lawmakers on government’s response to ongoing steel job cuts 

By: Terence Creamer     11th February 2020 The opposition Democratic Alliance has written a letter to Trade and Industry Minister Ebrahim Patel calling on him to brief lawmakers about developments at steel group ArcelorMittal South Africa, which recently warned of additional job cuts at the company. AMSA confirmed on February 6 that,... 

Patel asked to brief lawmakers on government’s response to ongoing steel job cuts

Australia's iron-ore ports cleared ahead of cyclone - Pilbara Ports Authority

By: Reuters     7th February 2020 Australia's key iron exporting ports have been cleared ahead of a cyclone that is due to make landfall on Saturday, the port authority said on Friday. "The Port of Port Hedland has moved to Cyclone Alert Stage 3 – Clear Port," Pilbara Ports Authority said in a notice. "The Port Of Dampier has... 

Video: Minerals Council no longer just the voice of the mining majors 

By: Creamer Media Reporter      6th February 2020 The Minerals Council South Africa is no longer just the voice of the mining majors, Grant Mitchell, who heads up the council's Junior and Emerging Miners Desk pointed out in a briefing at the 2020 Investing in African Mining Indaba, this week. He highlighted that 40% of the Minerals Council's... 

Video: Minerals Council no longer just the voice of the mining majors
Minerals Council South Africa Junior and Emerging Miners Desk head Grant Mitchell addresses stakeholders at the 2020 Investing in African Mining Indaba. Video and editing: Nicholas Boyd.

Video: Venkat, Bristow enourage miners, govts to take a long-term view 

By: Creamer Media Reporter      6th February 2020 Mining companies and host governments have been urged to take a long-term view when investing in the natural resources sector in Africa. In a panel discussion on why investors should consider investing in Africa, Vedanta Resources CEO Srinivasan Venkatakrishnan (Venkat) highlighted the... 

Video: Venkat, Bristow enourage miners, govts to take a long-term view
Mining executives discuss the benefits of investing in Africa's mining sector and the impediments holding back the success of projects. Video and editing: Nicholas Boyd.

AMSA slumps to R3.3bn loss amid ‘exceptionally difficult’ conditions 

By: Terence Creamer     6th February 2020 Steel producer ArcelorMittal South Africa (AMSA) slumped to a R3.3-billion headline loss in 2019, which the JSE-listed group described as an exceptionally difficult one for the South African economy and also the most challenging for the world steel industry since the global financial crisis of... 

AMSA slumps to R3.3bn loss amid ‘exceptionally difficult’ conditions
Wind-down of the Saldanha Works, in the Western Cape, to be largely completed by the end of the first quarter

Transnet’s new head promises an open door and action

By: Kim Cloete     5th February 2020 State-owned Transnet’s newly appointed CE Portia Derby has pledged to partner with the mining industry in an open and transparent way in a bid to boost the utility and ultimately help grow the economy. “We want to be a cool, easy company to deal with. We don’t want to make it difficult for you to... 

Transnet’s new head promises an open door and action

Coronavirus hurts base metals, iron-ore prices

By: Simone Liedtke     5th February 2020 The outbreak and contagion of a new strain of the coronavirus – which began in the Chinese city of Wuhan in December – has contributed to renewed concerns over economic growth prospects, particularly in China. China, which is a major supplier and consumer of base metals as well as a major... 

Minerals Council South Africa lobbying strongly for junior miners   

By: Martin Creamer     5th February 2020 Junior and emerging miners hold the majority of the 1 700 to 1 800 mining rights that have been issued in South Africa, Minerals Council South Africa social performance head Alex Khumalo said on Wednesday. But most of these rights are not being exercised, Khumalo revealed at a media briefing he... 

Minerals Council South Africa lobbying strongly for junior miners
Minerals Council social performance head Alex Khumalo, junior miners leadership forum chairperson Errol Smart and junior and emerging miners' desk head Grant Mitchell in a briefing at the 2020 Investing in African Mining Indaba. Video and editing: Nicholas Boyd.

Equatorial strikes deal with Congolese partner

By: Esmarie Iannucci     4th February 2020 PERTH (miningweekly.com) – Junior Equatorial Resources has entered into a strategic alliance agreement with Congolese company Rock Mining SARL to advance the development of the Badondo iron project, in the Republic of Congo. Under the terms of the alliance agreement, Rock Mining will assist... 

The race is on for iron-ore riches buried under an African jungle

By: Bloomberg     4th February 2020 For years, the massive iron deposits under Guinea’s mountainous jungle were practically forgotten by the mining industry. Caught up in wrangles between owners and authorities in the West African nation, it seemed the super-rich ore might never be dug up.  That all changed last year, as investors... 

Mantashe eases constraints on mining companies' ability to generate own electricity   

By: Kim Cloete     3rd February 2020 Mineral Resources and Energy Minister Gwede Mantashe has assured mining companies in South Africa they will be able to generate their own energy to counter severe energy constraints. He also on Monday announced that government would be talking to investors about establishing a generating company... 

Mantashe eases constraints on mining companies' ability to generate own electricity
Minister of Mineral Resources and Energy, Gwede Mantashe, says mining companies will be able to generate their own energy in the light of severe energy constraints. The announcement was received with great applause by thousands of delegates to the Investing in African Mining Indaba in Cape Town. Video and editing: Nicholas Boyd.

Miners ditching diesel seek to cut costs and emissions

By: Bloomberg     3rd February 2020 Mining companies under investor pressure to curb carbon emissions are weaning themselves off the most polluting power sources, and see lower costs in using alternatives. Fortescue Metals Group joined rivals including BHP and Anglo American in flagging potential savings from new investments to... 

Urgent steps needed to revive South Africa’s economy – Minerals Council  

By: Martin Creamer     3rd February 2020 Urgent steps are needed to revive the South African economy, Minerals Council South Africa chairperson Mxolisi Mgojo said on Monday. Speaking on the first day of the four-day Investing in African Mining Indaba, he said the Minerals Council was ready and willing to work with the government. 

Urgent steps needed to revive South Africa’s economy – Minerals Council
Minerals Council chairperson Mxolisi Mgojo discusses low investor confidence in South Africa, while CEO Roger Baxter warns about the deterioration in security in the South African mining industry and how this is impacting on the sector and the economy. Video and editing: Creamer Media's Nicholas Boyd.

Commodity hammered in China by virus-driven demand fears

By: Bloomberg     3rd February 2020 Chinese commodity prices collapsed on the first day of trading after the Lunar New Year break as investors returned to markets gripped by fear over the impact the coronavirus will have on demand in the world’s biggest consumer of raw materials. The country’s three major commodity exchanges were... 

Fallout from coronavirus expected to have a ripple effect on coal, iron-ore

By: Kim Cloete     31st January 2020 The fallout from the coronavirus in China is expected to have a ripple effect on many sectors in the Chinese economy, slow down its economic growth and impact on its coal industry and imports. Coal trader Noble Resources research head Rodrigo Echeverri says the impact had been severely... 

Fallout from coronavirus expected to have a ripple effect on coal, iron-ore

Fortescue posts record shipments, invests in new energy infrastructure

By: Esmarie Iannucci     30th January 2020 Iron-ore major Fortescue Metals has reported record shipments for the six months ended December, driven by a 9% increase in quarterly shipments, which reached 46.4-million tonnes. Iron-ore shipments in the six months to December reached a record 88.6-million tonnes. 

Fortescue posts record shipments, invests in new energy infrastructure

Vale suspends employee travel to China over coronavirus

By: Reuters     28th January 2020 Brazilian miner Vale said on Tuesday it would suspend travel by its employees to and from China indefinitely as a precaution amid an outbreak of a new coronavirus. Vale, the world's largest iron-ore miner, said its employees in China will work remotely and the company will continue to operate... 

One year after Vale dam break, pain runs deep in Brazil mine disaster town

By: Reuters     27th January 2020 Exactly one year ago a tailings dam in the Brazilian town of Brumadinho collapsed, killing more than 250 people in one of the world's worst mining disasters. For survivors and relatives of the victims still searching for answers and justice, time has been no healer. "It's the same today as it... 

Vale raises emergency watch level for its Gongo Soco mine dam after heavy rain

By: Reuters     27th January 2020 Brazilian miner Vale has raised the emergency level at the Sul Inferior dam at its Gongo Soco mine in Barão de Cocais, in the southern state of Minas Gerais, after heavy rainfall eroded the structure's reservoir. "As a result of unusually heavy rain, Vale reinforced the number of field teams on... 

Mt Gibson posts solid quarter

By: Esmarie Iannucci     24th January 2020 Iron-ore miner Mount Gibson has reported a solid quarter in the three months to December, with iron-ore sales remaining consistent with the previous quarter. Iron-ore sales for the December quarter reached 1.3-million tonnes, consistent with the 1.3-million tonnes sold in the September quarter,... 

Beneficiation plant wins international awards

24th January 2020 The wet processing solution designed and delivered by wet processing equipment manufacturer CDE, simultaneously won two awards in Australia and Ireland for exceptional achievement and resource productivity. In 2017, CDE commissioned two wet processing plants in South Australia to convert an... 

Beneficiation plant wins international awards
HARD WON The company won two awards on the same night almost 10 000 miles apart

Kumba records solid operational performance

By: Tasneem Bulbulia     23rd January 2020 Iron-ore miner Kumba Iron Ore delivered a solid operational performance in the fourth quarter and the full-year ended December 31, CEO Themba Mkhwanazi said on Thursday. The Anglo American subsidiary produced 42.4-million tonnes of iron-ore and sold 42.2-million tonnes of iron-ore for the... 

Anglo American delivers on 2019 production targets

By: Tasneem Bulbulia     23rd January 2020 Diversified miner Anglo American delivered on its production targets across the business for the year ended December 31, CE Mark Cutifani said on Thursday with the release of the group’s unaudited production results for the fourth quarter and the full-year. Production was up 4% for the fourth... 

Anglo American delivers on 2019 production targets
Photo by Creamer Media
Anglo American CEO Mark Cutifani

From mining's saviour to homicide charges, the fall of Vale’s chief

By: Bloomberg     22nd January 2020 Fabio Schvartsman was supposed to be the fresh face that would help Vale, the world’s biggest iron-ore miner, advance the company after a 2015 dam collapse. Instead, the 65-year-old is facing homicide charges after the company’s latest deadly disaster. While he knew little of mining and metals,... 

From mining's saviour to homicide charges, the fall of Vale’s chief
Fabio Schvartsman
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