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Iron Ore News

Mining Charter violates shareholder rights – Hogan Lovells

By: Martin Creamer     23rd June 2017 Mining Charter Three’s arbitrary increase of empowerment shareholding to 30% violates the property rights of shareholders, and the new charter’s requirement to pay 1% of yearly turnover is not expected to survive challenges under the Companies Act and the Constitution. Property rights under the... 

BHP agrees to new assessment in Pilbara

By: Esmarie Swanepoel     23rd June 2017 Diversified major BHP has agreed to a new strategic assessment programme with the federal government that locks in environmental standards and protection measures in the Pilbara. Environment and Energy Minister Josh Frydenberg said on Friday that the programme would protect the unique... 

Multidisciplinary mining company says market is challenging

By: Simone Liedtke     23rd June 2017 With the general depletion of natural sand reserves around South Africa, especially within large cities, multidisciplinary materials openpit mining company Afrimat has invested in sand producing plants – especially in Gauteng – to produce high-quality concrete sands to ensure higher concrete... 

Multidisciplinary mining company says market  is challenging
CHALLENGING CONDITIONS Overall, the construction materials sector remains relatively flat

Top 40 miners returned to profitability in 2016 – PwC

By: Ilan Solomons     23rd June 2017 The world’s top 40 miners recovered from a “race to the bottom”, with bolstered balance sheets and a return to profitability in 2016, giving them much-needed space to pause and take a breath. This is according to advisory firm PwC’s ‘Mine 2017’ report, which was released on the sidelines of the... 

Top 40 miners returned to profitability  in 2016 – PwC
Photo by Duane Daws
IMPROVED BALANCE SHEETS The top 40 miners recorded a net profit of $20-billion in 2016, which was a significant improvement from the aggregate loss of $28-billion recorded in 2015

China mulls improving iron-ore index in pricing push

By: Reuters     22nd June 2017 China is planning improvements to an iron-ore price index it launched six years ago, looking to better reflect market dynamics in the world's top consumer of the steelmaking raw material and increase usage by market participants. China has been pushing for a greater say in pricing iron ore in... 

Carpentaria weighing expanded Hawsons project

By: Esmarie Swanepoel     22nd June 2017 The demand for ASX-listed junior Carpentaria Exploration’s Hawsons supergrade product has significantly increased, with Taiwanese conglomerate Formosa Plastics Group increasing its uptake. Formosa has now increased its nonbinding letter of intent to purchase Hawsons supergrade product from... 

Mining Charter exposing South African economy to GATT angst  

By: Martin Creamer     21st June 2017 The procurement rules of the new Mining Charter may violate South Africa’s obligations under the General Agreement on Tariffs and Trade (GATT), exposing the country to challenges by other member states of the World Trade Organisation (WTO), Herbert Smith Freehills lawyers Peter Leon and Patrick... 

Mining Charter exposing South African economy to GATT angst
Photo by Duane Daws
Herbert Smith Freehills co-chair Peter Leon

Atlas defers 4Mt/y Corunna Downs project

By: Esmarie Swanepoel     21st June 2017 Iron-ore miner Atlas Iron has deferred the development of its Corunna Downs mine, with the miner instead aiming to increase production from the Mt Webber operation. Atlas in February approved the development of the Corunna Downs project, with capital costs estimated at between A$47-million and... 

Atlas defers 4Mt/y Corunna Downs project

Brierty suspends work at Rio's Western Turner Syncline

By: Esmarie Swanepoel     21st June 2017 Contract mining has been suspended at mining major Rio Tinto’s Western Turner Syncline Stage 2 iron-ore project, in the Pilbara. Mining contractor Brierty said on Wednesday that the company had received a notice of default from Rio Tinto, with the diversified miner raising safety concerns. 

Champion seals long-term rail transport pact

By: Henry Lazenby     20th June 2017 Quebec-based project reviver Champion Iron has attained another milestone in its endeavours to restart mining at the high-grade Bloom Lake iron mine, after its subsidiary Quebec Iron Ore (QIO) reached an agreement with the Quebec North Shore and Labrador Railway Company (QNS&L) to transport... 

Sula sees smooth Phase 3 drilling ramp-up at Ferensola

By: Anine Kilian     20th June 2017 Aim-listed Sula Iron & Gold has seen a smooth ramp up into Phase 3 of its 5 000 m drill programme at its Ferensola gold project, in Sierra Leone, with both rigs drilling day and night shifts at the Sanama Hill deposit. The first hole drilled on Sanama Hill is complete and is being logged while... 

Mining Charter set to worsen stakeholder relations – Bench Marks

By: Martin Creamer     20th June 2017 The new Mining Charter is the flawed outcome of inadequate consultation with communities, the board of the Bench Marks Foundation said on Tuesday, when it warned that the document is poised to worsen stakeholder relations. Bench Marks executive director John Capel condemned the new charter as a... 

Mining Charter set to worsen stakeholder relations – Bench Marks
Photo by Reuters
Rt Rev Dr Jo Seoka, chairperson of the Bench Marks Foundation, which has launched a scathing attack on the new Mining Charter.

Iron seen in low-$40s by Citi as supply grows, demand peaks

By: Bloomberg     20th June 2017 Iron-ore may extend a slump into the low-$40s as supplies swell and demand reaches a short-term peak amid steel mill restarts and ramp-ups in China, according to Citigroup, which cut its forecasts by as much as 20% over the next year. The nadir in prices may occur in six to eight months, analysts... 

Busiest project bidding period ever – ELB

By: Martin Creamer     20th June 2017 Johannesburg Stock Exchange-listed ELB Group is having its busiest project bidding period ever, and is seeing a strengthening in base metals and great opportunities in gold. “In the last six months, we’ve experienced our busiest bidding period ever,” ELB Group CE Dr Stephen Meijers told Mining... 

Busiest project bidding period ever – ELB
Photo by Duane Daws
ELB Group CE Dr Stephen Meijers

Beowulf’s Swedish iron-ore project continues to face environmental approval delays

By: Megan van Wyngaardt     19th June 2017 Sweden’s Norbotten County Administrative Board (CAB), which is currently investigating the environmental impact of Aim-listed miner Beowulf’s Kallak North iron-ore exploitation concession, has said it needs more information to further assess the potential impact of a mining operation at Kallak... 

Beowulf’s Swedish iron-ore project continues to face environmental approval delays

Mt Gibson cancels offtake contract

By: Esmarie Swanepoel     19th June 2017 Iron-ore junior Mount Gibson Iron has terminated an offtake agreement with Xinyu Iron and Steel Group after the Chinese firm failed to comply with the terms of the agreement. The offtake agreement would have seen Hinyu purchase about one-quarter of the first year’s available production from the... 

Trump administration probe into steel imports nearly done – US official

By: Reuters     16th June 2017 A Trump administration investigation into whether foreign-made steel imports pose a risk to US national security is nearly done, a senior US official said on Friday, ahead of the expected release of the probe's findings late next week. "It is nearing conclusion," the US administration official... 

Cliffs picks Toledo site for first hot briquetted iron plant

By: Henry Lazenby     16th June 2017 US iron-ore producer Cliffs Natural Resources has chosen Toledo, Ohio as the site to develop its first hot briquetted iron (HBI) production plant – a $700-million expansion to Cliffs’ production capabilities targeting the electric arc furnace steel market. Cliffs advised that it is currently in... 

Technological innovations will be key to success of seabed mining

By: Ilan Solomons     16th June 2017 Minerals from the deep sea, such as polymetallic nodules, ferromanganese crusts and hydrothermal sulfides are potential sources of metals such as copper, nickel, cobalt, manganese and iron. In future, depending on the development of suitable technologies, these minerals could be mined and metals... 

Chamber going to court to halt devastating charter blow to already battered mining sector 

By: Martin Creamer     15th June 2017 The Chamber of Mines of South Africa will be applying at the earliest opportunity for a court date for a declaratory order on continuing empowerment consequences, as well as immediately seeking an interim court interdict to suspend the implementation of Mining Charter Three, the devastating set... 

Chamber going to court to halt devastating charter blow to already battered mining sector
Photo by Creamer Media
Chamber of Mines of South Africa president Mxolisi Mgojo

GCC proposes 31% safeguard tariff on some iron and steel imports

By: Reuters     15th June 2017 The countries of the Gulf Cooperation Council are proposing a 31% safeguard tariff on imports of flat-rolled products of iron or non-alloy steel, they said in a filing published by the World Trade Organization on Thursday. The tariff would last for three years, falling to 28% in the second year... 

India assures domestic coal supplies for steel, cement companies

By: Ajoy K Das     15th June 2017 In another step towards zero coal imports, India’s Coal Ministry has offered assured domestic coal supplies to companies outside of the power generation industry. Under the new framework, coal consuming companies in the steel, cement and fertiliser sectors, would receive coal supplies from Coal... 

ISS, Glass Lewis approve restructuring at Brazil's Vale – source

By: Reuters     15th June 2017 Consulting firms ISS and Glass Lewis have given a nod of approval to a restructuring plan for Brazilian miner Vale, boosting the chances of shareholder approval, a source said on Wednesday. The corporate restructuring process, announced on February 20, seeks to strengthen the company's... 

China iron-ore bounces off 7-month low as steel recovers

By: Reuters     14th June 2017 China's iron-ore futures bounced back from a seven-month low on Wednesday, tracking a recovery in steel prices, although concerns over surplus supply kept gains in check. The rebound may help stabilise spot iron-ore prices that hit their lowest level in a year this week. 

Rio Tinto CEO sees Canada as less business-friendly than in past

By: Reuters     13th June 2017 The chief executive of Anglo-Australian miner Rio Tinto , which owns iron ore, diamond and aluminum mines and processing facilities in Canada, said on Tuesday that it was becoming tougher to do business in the resource-rich country. "You know mining well and you understand its value, but to be... 

Rio Tinto CEO sees Canada as less business-friendly than in past
Photo by Bloomberg
Rio Tinto CEO Jean-Sebastian Jacques

China steel, iron-ore recover as worries about weak demand ease

By: Reuters     12th June 2017 Spot iron-ore and steel prices rose on Monday, clawing back some of the ground lost in recent weeks amid renewed hopes about stronger demand for metal even as worries persisted about a growing glut of iron ore in the world's top buyer. The most-active rebar on the Shanghai Futures Exchange was up... 

IHS Markit's materials price index registers 3.1% weekly decline

By: Henry Lazenby     9th June 2017 A broad basket of commodities tracked by market research house IHS Markit has declined the most in a single week since mid-April, falling 3.1% last week in a broad retreat. IHS senior economist Ben Orhan said in a news release to Mining Weekly Online on Thursday that the commodity price index... 

Alderon takes first step to remould management team

By: Henry Lazenby     9th June 2017 Project developer Alderon Iron Ore has appointed 30-year Newfoundland and Labrador government veteran Gary Norris as its new executive VP for government and community affairs, with immediate effect. The TSX-listed company, which is focused on its flagship Kamistiatusset (Kami) high-grade iron-ore... 

Mine tailings recovery can be value generator, says Council for Geoscience

By: Ilan Solomons     9th June 2017 Mine tailings have been identified as a major source of environmental impact for many mining operations and more stringent requirements have been placed on the management of these tailings. An aspect which is often overlooked in the life cycle of sustainable mine residues management is that mine... 

Mine tailings recovery can be value generator, says Council for Geoscience
Photo by Duane Daws
RESIDUAL VALUE Platinum group metals tailings contain a significant portion of aluminium, iron and calcium, which have the potential to serve as a secondary mineral source

Tete steel project BFS near completion

By: Nadine James     9th June 2017 SRK Consulting South Africa, a firm of consulting engineers and scientists, has completed its share of work on the bankable feasibility study (BFS) for the Tete iron-ore mining and steelmaking project, in Mozambique. The BFS for the project, which is expected to start production in the first half... 

Tete steel project  BFS near completion
HENNIE THEART The Tete project has a Joint Ore Reserves Committee-compliant measured resource of 156-million tonnes, grading 36% iron-ore and 13.3% titanium dioxide

Brazilian miner Vale could cut number of directors – O Globo

By: Reuters     8th June 2017 Brazilian miner Vale is expected to cut the number of executive directors to four from six, according to a local newspaper column published on Thursday. The piece by columnist Ancelmo Gois of the El Globo newspaper did not offer further detail on the restructuring plans. 

BlackRock Metals pockets C$40m mine financing by Orion

By: Henry Lazenby     8th June 2017 Private Quebec-focused speciality metals project developer BlackRock Metals has secured C$40-million in equity financing led by Orion Mine Finance Group. The company, which intends to produce low-cost ferrovanadium, high-purity merchant pig iron (MPI) and titanium feedstocks for the US and... 

Phosa condemns charter tinkering, urges growth negotiations  

By: Martin Creamer     7th June 2017 Stop tinkering with sector charters and instead negotiate them in a manner that creates room for sizable growth, African National Congress (ANC) National Executive Committee member Dr Mathews Phosa urged on Wednesday. Delivering the keynote address at the Junior Indaba, the former premier of... 

Phosa condemns charter tinkering, urges growth negotiations
African National Congress National Executive Committee member Mathews Phosa addressed the Junior Indaba, which was cover by Mining Weekly Online’s Martin Creamer. Photograph: Duane Daws. Video and Video Editing: Darlene Creamer

LKAB contracts ABB to modernise hoists at Kiruna mine

By: Megan van Wyngaardt     7th June 2017 Sweden-based iron-ore miner LKAB has contracted automation company ABB to modernise five mine hoists at its Kiruna mine. The order includes mechanical, electrical and automation equipment for hoists B2, B4, B5, B6 and B8.   The miner was also modernising its central (CA) hoisting plant, which... 

Robot ghost ships to extend miner's technology drive to seas

By: Bloomberg     7th June 2017 BHP Billiton, the world’s biggest mining company, is studying the introduction of giant, automated cargo ships to carry everything from iron-ore to coal as part of a strategic shift that may disrupt the $334-billion global shipping industry. “Safe and efficient autonomous vessels carrying BHP... 

Upcoming Mining Charter to include designation of strategic minerals – Zwane

By: Terence Creamer     6th June 2017 Mineral Resources Minister Mosebenzi Zwane says the updated Mining Charter to be Gazetted next week will include the “designation of minerals” in support of government’s policy of mineral beneficiation. Speaking in Mpumalanga, on Tuesday, at the reopening of the Highveld Steel heavy structural... 

Upcoming Mining Charter to include designation of strategic minerals – Zwane
Photo by Duane Daws
Mineral Resources Minister Mosebenzi Zwane

Champion receives Quebec govt grant for two Bloom Lake ‘green energy’ conversions

By: Henry Lazenby     6th June 2017 The Quebec government's Green Fund has granted Quebec Iron Ore (QIO), a subsidiary of Champion Iron, C$5.2-million in financial assistance for two energy conversion projects at the flagship Bloom Lake iron-ore mine, near Fermont. The first project involves the replacement of a steam boiler using... 

Grange expects lower output at Savage River

By: Megan van Wyngaardt     5th June 2017 Iron pellet producer Grange Resources has lowered the production guidance at its Savage River mine, following a modification to its mine design after a recent safety incident. A contractor died at the Tasmania mine in March, after falling a “considerable distance”. 

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