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Iron Ore News

Brazil's Vale confirms talks with Xstrata

By: Liezel Hill     21st January 2008 The world's biggest iron-ore producer, Companhia Vale do Rio Doce (Vale), confirmed on Monday that it had held talks with the management of diversified miner Xstrata. However, it said that the discussions “had not produced any material results yet”. “Vale continues to... 

Feasibility study by midyear on big Peru copper prospect

By: Liezel Hill     18th January 2008 Toronto-based exploration and development company Chariot Resources expects to complete a definitive feasibility study (DFS) on its Mina Justa project, in Peru, during the second quarter of this year.  

Kumba warns of earnings drop of up to 12%

By: Matthew Hill     18th January 2008 South Africa's biggest iron-ore producer, Kumba Iron Ore (KIO), said on Friday that its headline and basic earnings for the year ended December 2007 could have slid by as much as 12,4% to between R2,96-billion, compared with the pro forma figure of R3,38-billion for the previous year.  

But rail, port capacity constraints remain cause for concern

By: Dennis Ndaba     18th January 2008 State freight logistics Transnet Freight Rail has announced that it has exceeded its record weekly iron-ore throughput achieved in October 2007 by 30 804 t.  

Anglo American enters talks to buy MXX iron-ore assets

By: Olivia Soraya Spadavecchia     17th January 2008 Resources giant Anglo American said on Thursday that it had entered into exclusive discussions with the controlling shareholder MMX to buy iron-ore assets in Brazil.  

Rio Tinto iron-ore output rises to new record

By: Olivia Soraya Spadavecchia     16th January 2008 Diversified mining giant Rio Tinto's iron-ore production set a new annual record at 179-million tons in 2007, the company reported on Wednesday. 

Iron-ore giant to relocate community close to expanding Sishen mine

By: Matthew Hill     14th January 2008 South Africa's biggest iron-ore producer, Kumba Iron Ore (KIO), has plans to relocate the community of Dingleton because it was located too close to the expanding Sishen mine. 

Rio Tinto completes $1,4bn port upgrade

By: Liezel Hill     11th January 2008 Global miner Rio Tinto has completed a $1,4-billion upgrade of the Dampier port, in Western Australia, the firm said on Friday. 

Vale halts iron ore shipments after port accident

By: Liezel Hill     8th January 2008 The world's biggest iron-ore producer, Brazil-based Companhia Vale do Rio Doce (Vale) will suspend shipments from the Itaguaí maritime terminal, in the Brazilian state of Rio de Janeiro, the firm said on Monday. 

ArcelorMittal may build new iron-ore mine in Mauritania

By: Loni Prinsloo     8th January 2008 The world's number one steel company, Acelor Mittal, announced on Tuesday that it had agreed to establish a joint venture with Societe Nationale Industrielle et Miniere (SNIM) to possibly develop a 25 m t/y iron-ore project in Mauritania. 

Rio Tinto will spend $315m on new vessels to transport iron-ore to China

7th January 2008 International diversified-miner Rio Tinto will purchase three 250 000-t ore carriers to transport iron-ore from its mines in the Pilbara, in Western Australia, and potentially from Simandou, in Guinea, to customers in China and elsewhere, it said on Monday. 

KIO sues Senegal govt over contract withdrawal - report

By: Liezel Hill     2nd January 2008 South African iron-ore producer Kumba Iron Ore is suing the government of Senegal for $667-million, AFP reported last week, citing the company's lawyer, Boucounta Diallo. 

Rio Tinto to study expansion at Australian iron-ore JV

By: Liezel Hill     21st December 2007 The Hope Downs joint venture, which is co-owned by mining giant Rio Tinto and Hope Downs Iron Ore, has approved a $71-million feasibility study into expanding the Hope Downs 4 project, in Australia.  

Rio Tinto to sell 15mt of iron ore into spot market next year

By: Liezel Hill     18th December 2007 Diversified miner Rio Tinto plans to sell as much as 15-million tons of iron ore, a key ingredient in the manufacture of steel, on the higher-priced spot market for the ferrous metal in 2008.  

Tata Steel to build iron-ore mine with Ivory Coast's Sodemi

By: Liezel Hill     11th December 2007 India's Tata Steel has signed a joint-venture agreement with the Ivory Coast's State-owned mining firm, Sodemi, for the development of the Mount Nimba iron-ore deposits in the country. 

Sinosteel bids for Oz iron-ore miner

By: Liezel Hill     7th December 2007 Australian iron-ore company Midwest Corporation said on Friday morning that it had received an acquisition proposal from China's Sinosteel Corporation. 

Iron-ore price negotiations may be lengthy - Vale chief

By: Liezel Hill     7th December 2007 The current round of iron-ore price talks may go on for an extended period of time, Cia Vale do Rio Doce (Vale, formerly known as CVRD) CEO Roger Agnelli said on Friday. 

Final draft royalty bill revises tax rates, cuts royalties

By: Mariaan Webb     6th December 2007 South Africa’s Treasury, which released the third draft of the Mineral and Petroleum Resources Royalty Bill for public comment on Thursday, has revised the tax base and slashed royalties on most minerals. The third and final draft shifted away from the dual-rate system for refined and... 

Exxaro may increase iron-ore exposure - CFO

By: Matthew Hill     3rd December 2007 Pretoria-based diversified miner Exxaro would look at increasing its exposure to surging iron-ore prices, but outside the Northern Cape, CFO Dirk van Staden said on Monday. 

Rio Tinto outlines growth prospects in BHP takeover defence

By: Matthew Hill     26th November 2007 The proposed integration of two of the world's biggest mining groups' assets would benefit BHP Billiton significantly more than it would Rio Tinto, and the potential synergies between the two were dwarfed by London-based Rio Tinto's value, its CEO said on Monday. Speaking in a... 

Investment in South African mining showing positive growth, says Chamber economist 

By: Brindaveni Naidoo     23rd November 2007 The mining sector in South Africa has “turned the corner”, with positive growth in investment recorded in 2006 and in the first half of this year, chief economist of the Chamber of Mines Roger Baxter said at the fifteenth bme annual conference on explosives, drilling and blasting... 

Mining project management company eyes city’s bourse

By: Leandi Kolver     23rd November 2007 “Initially, suppliers, clients and banks still associated MDM Engineering with MDM Ferroman, and this caused distrust and a negative perception from the industry. In August 2006, I terminated the consultancy agreement we had with Gordon McCrae. Our quality and current project list proves... 

Canadians rope in Koreans to raise capital for Namibian uranium venture

By: Felix Njini     23rd November 2007 Toronto Stock Exchange-listed Forsys Metals Corporation has roped in Korean nuclear energy firm Korea Hydro & Nuclear Power Company (KHNP) to help raise capital for its Namibian uranium venture which, company officials say, is to take off in 2009. 

BHP-Rio merger will create iron-ore ‘monopoly’, steel makers say

By: Creamer Media Reporter      20th November 2007 A Brussels-based global steel producers body has hit out at mining giant BHP Billiton's proposed tie-up with smaller peer Rio Tinto, saying that it would create a monopoly in the seaborne iron-ore market. 

Kermas, Petmin buy Veremo, plan iron-ore mine

By: Matthew Hill     6th November 2007 JSE- and Aim-listed Petmin said on Tuesday that it had struck a deal with LSE-listed Kermas, under which the two would jointly buy Veremo Holdings, which owned an iron ore and pig iron deposit in Mpumalanga. 

Sphere sells further stake in Mauritania iron-ore project

By: Christy van der Merwe     2nd November 2007 ASX-listed Sphere Investments, which sold a 15% stake in the Guelb el Aouj iron-ore project, in Mauritania, to Qatar Steel Company (QSC), said on Friday, that QSC would buy a further 34,9% interest.  

Sphere to raise A$48m for Mauritanian exploration

18th October 2007 Iron-ore project developer Sphere Investments will place 15-million fully paid ordinary shares as A$3,20 a share to raise A$48-million to advance drilling at two Mauritanian projects.  

Review points to economic viability at Zambian iron prospect

By: Olivia Soraya Spadavecchia     16th October 2007 An independent project review of Canadian firm Luiri Gold's Nambala iron deposit, west of Lusaka, Zambia, has indicated potential to establish an economically viable operation, the company said on Tuesday. 

Limpopo iron-ore mine brings suppressor on stubbon dust

By: Christy van der Merwe     5th October 2007 In a constant effort to control dust emission, Kumba Iron Ore's mine in Thabazimbi, Limpopo, is carrying out an ongoing six-month trial of a biodegradable dust suppression agent, Roads environmental dust-suppressant (Reds), manufactured by drilling fluid and chemical supplier Samchem. 

Mineral-processing technology provider wins export award

By: Brindaveni Naidoo     5th October 2007 Mining and minerals-processing equipment supplier Multotec was named this year's winner in the large manufacturing category of the Gauteng Exporter of the Year Awards, hosted by the Johannesburg Chamber of Commerce and Industry (JCCI). 

Oz iron-ore firm targets $25,5/t margins at Cameroon mine

By: Mariaan Webb     6th September 2007 ASX-listed Sundance Resources says it expects to deliver an operating margin of around $25,5 a ton on its emerging Mbalam iron-ore project in Cameroon. 

Eyebrows go up as Arm pays maiden dividend, plans big capex roll-out 

By: Matthew Hill     3rd September 2007 Black-owned diversified miner African Rainbow Minerals (Arm) announced its first dividend payment on Monday, amounting to R315-million. However, a local mining analyst questioned the prudence of the timing of the payout, when viewed in light of the company's planned capital spend of... 

Sipho Nkosi to take the helm at Exarro

By: Matthew Hill     31st August 2007 Spring day, September 1, has traditionally signified a season of new beginnings, which which will ring particularly true in the case of South Africa�s biggest black-owned mining firm, Exxaro Resources, when Sipho Nkosi replaces Dr Con Fauconnier as CEO on the day.  

Exxaro's earnings leap 61% on soaring commodity prices

By: Matthew Hill     16th August 2007 South Africa's biggest black-owned mining company Exxaro Resources reported on Thursday that its earnings for the six-months ended June 30 shot up 61% year-on-year to R839-million, or R2,46 a share, on the back of buoyant commodity prices. 

Second-hand truck tyres costing more than new ones as shortage bites, says Kumba CEO Myburgh

By: Martin Creamer     7th August 2007 Second-hand tyres for large off-road trucks were costing more than new ones because of the biting tyre shortage, Kumba Iron Ore CEO Ras Myburgh told Mining Weekly Online on Tuesday. 

Anglo American has $20bn project pipeline, $8,7bn approved

By: Matthew Hill     3rd August 2007 London-based diversified miner Anglo American could spend over $20-billion, nearly R150-billion, on projects going forward, of which its board has already approved more than $8-billion, or about R56-billion, CEO Cynthia Carroll said on Friday. Many of these projects were were forecast to be in... 

Anglo American interim earnings jump 22% to record $3,1bn

By: Matthew Hill     3rd August 2007 One of the world's biggest mining groups, Anglo American, said on Friday that its operating profit for the six months ended June 30 had increased by nearly 20% year-on-year, to $5,5-billion, or about R40-billion, while underlying earnings reached a record $3,1-billion, or some R22-million,... 

Global iron-ore output rose 12% in 2006 - study

By: Matthew Hill     2nd August 2007 World iron-ore production grew by 12% in 2006, to reach 1,5-billion tons, the United Nations Conference on Trade and Development (Unctad) said in its yearly iron-ore review, distributed on Wednesday night. 

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