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Iron Ore News

Koolan Island dewatering starts

By: Esmarie Iannucci     2nd August 2018 Dewatering of the Koolan Island project’s main pit has started, ASX-listed Mount Gibson said on Thursday. The start of high volume dewatering in the main pit followed the successful completion of the concrete seepage barrier at the seawall, in mid-July, and following a necessary waiting period... 

AMSA studies new Vanderbijl electric arc furnace as it moves to restart Vereeniging mill 

By: Terence Creamer     1st August 2018 Steel producer ArcelorMittal South Africa (AMSA), which announced its first interim profit in six years and may be on track to deliver its first full year profit since 2010, has initiated a study for the construction of a new electric arc furnace (EAF) at its Vanderbijlpark mill and has also... 

AMSA studies new Vanderbijl electric arc furnace as it moves to restart Vereeniging mill
AMSA CEO Kobus Verster

Rio Tinto approves initial funding for Koodaireri

By: Esmarie Iannucci     1st August 2018 Diversified miner Rio Tinto has approved A$146-million in funding for initial works at its Koodaideri iron-ore project, in Western Australia. The miner said on Wednesday that the funds would be invested in detailed engineering work on key elements of the project, the development of a rail... 

Lifting of Karnataka iron-ore restrictions brings miners and consumers into fresh conflict

By: Ajoy K Das     31st July 2018 The Central Empowered Committee (CEC), the body appointed by India’s Supreme Court on all matters related to mining, has recommended lifting restrictions on iron-ore pellet exports from the southern province of Karnataka, bringing to the fore the conflict between producers and consumers of the... 

Sundance clears A$133bn of debt in ‘transformational deal’

By: Esmarie Iannucci     30th July 2018 Iron-ore developer Sundance Resources has struck a deal to restructure its balance sheet and wipe out A$133-million of debt. Sundance on Monday announced that it had signed a binding term sheet with its noteholders to cancel their convertible notes in return for a combination of equity and a... 

Sundance clears A$133bn of debt in ‘transformational deal’

India’s NMDC bags gold mine through highest bid at auctions

By: Ajoy K Das     30th July 2018 Indian State-run iron-ore miner NMDC will mark its maiden foray into gold mining, having bagged a gold mine in the southern province of Andhra Pradesh. NDMC was able to secure the rights to develop and produce from the gold mine emerging as the highest bidder at the auction pipping majors like... 

MinRes to earn into Brockman’s Marillana project

By: Esmarie Iannucci     27th July 2018 ASX-listed Mineral Resources (MinRes) has struck a deal with fellow-listed Brockman Mining, which could see it acquire a 50% share in the Marillana iron-ore project, in the Pilbara. Under a farm-in agreement, MinRes could earn a 50% interest in the project by spending A$250 000 on exploration... 

Hancock bid free of conditions - Atlas

By: Esmarie Iannucci     27th July 2018 Suitor Hancock Prospecting’s offer for iron-ore miner Atlas Iron has been declared unconditional. Atlas on Friday said that shareholders who now accepted the Hancock offer could expect a pay-out within seven days of their acceptance. 

Asset flexibility strategy to deliver value

27th July 2018 Metal and mining corporation Rio Tinto’s Iron Ore business aims to continue to deliver superior value for its shareholders by developing greater flexibility across its system of mines, rails and ports in Western Australia so that it is capable of dynamically responding to changes in market and... 

Asset flexibility strategy to deliver value
OPENING UP THE BOTTLENECK Rio Tinto plans to ensure its rail infrastructure is able to handle mine capacity by the end of next year

Iron-ore processing requires stronger equipment

By: Paige Müller     27th July 2018 Materials handling wear solutions company Rio-Carb’s turnkey liner solutions are “ideal” for reducing the regular and costly maintenance required by iron-ore processing facilities, says Rio-Carb director Sias Suurd. He tells Mining Weekly that iron-ore is particularly demanding on processing... 

Iron-ore processing requires stronger equipment
ABRASIVE MATERIALS Rio-Carb’s range of Chromium Carbide liners is suited to handle abrasive materials such as iron-ore

Mine opens education centre for local community

27th July 2018 Diversified miner Anglo American’s Kumba Iron Ore opened the Sishen Education Centre at Tamaga Lodge, situated on the Sishen Nature Reserve, outside Kathu in the Northern Cape as part of its celebration of World Environment Day, in June.  The Northern Cape Provincial Government Gazette declared... 

Mine opens  education centre for local  community
ENVIRONMENTAL EXPERIENCE Kumba Iron Ore believes that an environmental education centre will allow school learners and tertiary students to experience nature and learn in a natural environment

New iron-ore mine showing profitability

By: Paige Müller     27th July 2018 Relative newcomer to the South African iron-ore industry, industrial minerals and construction materials group Afrimat, states that its new Demaneng iron-ore mine in the Northern Cape is starting to show profitability, bolstering Afrimat’s diversification strategy into bulk commodities. Afrimat... 

New iron-ore mine  showing profitability
MINE TURNAROUND Demaneng Iron Ore has started to show a profit under Afrimat management

SA iron-ore industry struggles more than most

By: Paige Müller     27th July 2018 The outlook for the South African iron-ore industry remains “bleak”, owing to stagnant local economic growth, a negative local investment environment and a significant drop in global demand for iron-ore, says commodities market analysis firm Core Consultants MD Lara Smith. She emphasises that the... 

SA iron-ore industry struggles more than most
Photo by Bloomberg
AFFECTED PRODUCTION China’s attempt to curb harmful emission levels has resulted in reduced steel production, which is negatively impacting on global iron-ore imports

Only a 'cataclysm' could hit top quality ore demand – Vale CEO

By: Reuters     26th July 2018 Brazil's Vale, the world's top iron-ore producer, forecast steady prices for the mineral and rising premiums for its top quality ore, thanks to strong demand from China and despite global trade tensions. Vale CEO Fabio Schvartsman said a scarcity of Vale's trademark top quality ore protects the... 

Tanzania targets setting up mineral exchange by end of 2018

By: Bloomberg     26th July 2018 Tanzania plans to establish a minerals exchange by the end of this year, in a bid to ensure the East African nation reaps the most from its resources, Minerals Minister Angellah Kairuki said. The nation’s resources including gold, diamonds, iron, silver, copper, graphite and other rare earth... 

Fortescue has its best quarter with 46.5Mt shipped

By: Esmarie Iannucci     26th July 2018 Iron-ore major Fortescue Metals has reported record iron-ore shipments of 46.5-million during the three months to June. “It was a strong finish to 2018 with the team delivering record shipments of 46.5-million tonnes in the quarter to achieve our target of 170-million tonnes for the full year.... 

Fortescue has its best quarter with 46.5Mt shipped

Innovation ‘coming out of the lab, into the field’ – Anglo

By: Martin Creamer     26th July 2018 The comprehensive technology and innovation programme being intensively conducted by diversified mining major Anglo American is coming “out of the lab and into the field”, the company told Mining Weekly Online on Thursday, when it reported continued performance improvement in the six months to... 

Innovation ‘coming out of the lab, into the field’ – Anglo
Photo by Creamer Media
Anglo American CE Mark Cutifani

Huge developments for Amplats, AngloGold, Kumba 

26th July 2018 Amplats is taking steps to reverse what it calls unjustified investor bearishness, AngloGold Ashanti is getting a new CEO and Kumba Iron-Ore is receiving strong premiums for high-grade ore. Mining Weekly Editor Martin Creamer unpacks the headlines. 

Huge developments for Amplats, AngloGold, Kumba
Huge developments for Amplats, AngloGold, Kumba

Vale posts rise in second-quarter profit

By: Reuters     25th July 2018 Brazil's Vale SA, the world's largest iron ore producer, posted a rise in second-quarter net income, results showed on Wednesday. The miner said profit in the second quarter rose to 306-million reais ($82.96-million) from 60-million reais in the same period a year earlier. However, the figure... 

Kumba ‘very bullish’ on exploration prospects 

By: Martin Creamer     25th July 2018 Iron-ore mining and marketing company Kumba Iron Ore is bullish about its R664-million exploration programme, that has funded more than 200 000 m of drilling. "We’re very bullish and very excited,” Kumba Iron Ore technical and projects head Glen Mc Gavigan commented to Mining Weekly Online during... 

Kumba ‘very bullish’ on exploration prospects
Kumba Iron Ore CE Themba Mkhwanazi responds to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer

BHP turns first sod at $3.4bn Pilbara mine

By: Esmarie Iannucci     25th July 2018 Mining major BHP has turned the first sod at its $3.4-billion South Flank project, in the Pilbara. The South Flank operation will leverage and expand on the existing Mining Area C hub, and is BHP's preferred option to replace the 80-million-tonne-a-year Yandi mine, which will reach the end of... 

Premium prices being paid for Kumba’s quality iron-ore 

By: Martin Creamer     24th July 2018 China’s flight to quality iron-ore is benefiting South Africa’s Kumba Iron Ore, which is receiving strong price premiums for high-grade ore.  Two thirds of Kumba ore is lump ore compared with the third or less of its main competitors. 

Premium prices being paid for Kumba’s quality iron-ore
Kumba Iron Ore CE Themba Mkhwanazi’s presentation covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer 24/7/2018

Cleveland-Cliffs emerges victorious in Minnesota land dispute

By: Mariaan Webb     24th July 2018 Iron-ore miner Cleveland-Cliffs has emerged victorious in a land dispute about iron-ore holdings that it acquired from Glacier Park Iron Ore Properties (GIOP) in Minnesota, sending the company’s stock up 9%. Cleveland-Cliffs announced on Monday that the United States Bankruptcy Court for the... 

Logistics-hit but resilient Kumba declares dividend from cash pile

By: Martin Creamer     24th July 2018 Iron-ore mining and marketing company Kumba Iron Ore on Tuesday reported a resilient financial performance despite logistics and export market conditions that resulted in 24% earnings fall to R7-billion compared with the first six months of last year. Attributable free cash flow of R2.8-billion... 

Logistics-hit but resilient Kumba declares dividend from cash pile
Photo by Creamer Media
Kumba Iron Ore CE Themba Mkhwanazi

Cleveland-Cliffs delivers 171% y-o-y increase in earnings a share

By: Marleny Arnoldi     20th July 2018 NYSE-listed Cleveland-Cliffs has increased its earnings a share from continuing operations by 171% to $0.76 apiece for the quarter ended June 30, compared with $0.28 apiece in the second quarter of 2017. The company on Friday reported consolidated revenues of $714-million, compared to the prior... 

Mount Gibson stays steady

By: Esmarie Iannucci     20th July 2018 Junior miner Mount Gibson has reported another steady quarter of iron sales during the June quarter, with one-million tonnes sold for revenues of A$45-million. “It was pleasing to complete the financial year with another solid operational effort in the Mid West and excellent progress at our... 

AngloGold chairperson warns South Africa on 'reckless' mining rules

By: Bloomberg     20th July 2018 South Africa risks driving away new investment and crippling its mining sector if “reckless” new rules are implemented, according to AngloGold Ashanti chairperson Sipho Pityana. The latest Mining Charter, which is aimed at sharing the benefits of the country’s mineral wealth more equally among... 

AngloGold chairperson warns South Africa on 'reckless' mining rules
Photo by Creamer Media
AngloGold chairperson Sipho Pityana

Sedibeng Iron Ore DMS plant to feature industry 4.0 technologies

By: Nadine James     20th July 2018 ELB Engineering Services is excited to be involved in the construction and digitalisation of the 200 t/h dense media separation (DMS) plant at Sedibeng Iron Ore, near Postmasburg in the Northern Cape, says CEO, Dr Stephen Meijers. Meijers explains that the project aims to incorporate Industry 4.0... 

Sedibeng Iron Ore DMS plant to feature industry 4.0 technologies
Photo by Creamer Media
STEPHEN MEIJERS The Sedibeng digitalisation project is split into three phases, ELB is currently progressing through Phase 1

Indian iron-ore exports shifting from fines to pellets

By: Ajoy K Das     19th July 2018 Indian international trade in iron-ore is shifting to more iron-ore pellets, rather than high-grade fines, prompted by changing preferences of overseas buyers. Information and data sourced from industry indicate that overseas shipment and sales realisations of iron-ore pellets are outstripping... 

Kumba lowers FY sales, production guidance

By: Marleny Arnoldi     19th July 2018 JSE-listed Kumba Iron Ore is working closely with State-owned freight utility Transnet to secure the delivery of the contractual capacity and to mitigate derailments that affected the company’s export sales in the second quarter of the year. The company’s export sales increased by only 1% to... 

Anglo reports production growth across all commodities in Q2

By: Marleny Arnoldi     19th July 2018 Global diversified miner Anglo American reported a 6% year-on-year increase in total production on a copper equivalent basis for the second quarter. Anglo CE Mark Cutifani remarked in a statement on Thursday that higher copper and metallurgical coal production reflected the company’s consistent... 

Anglo reports production growth across all commodities in Q2
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Tawana says completes demerger of 85% of shares in Cowan Lithium

By: African News Agency      18th July 2018 Australia-based mineral exploration company Tawana Resources said on Wednesday it had completed the demerger of 85% of the shares in Cowan Lithium Limited, holding the Cowan, Yallari and Mofe Creek assets. Tawana retained 15% of the total issued shares in Cowan Lithium. 

BHP beats production expectations; warns of $650m Samarco charge

By: Esmarie Iannucci     18th July 2018 Diversified giant BHP on Wednesday announced that the company had met or exceeded the production expectations for its commodities during the 2018 financial year, but warned of a $650-million financial impact related to the Samarco dam failure, in Brazil. “We have delivered a strong finish to the... 

BHP beats production expectations; warns of $650m Samarco charge
BHP CEO Andrew Mackenzie

BHP awards A$176m South Flank bulk earthworks contract

By: Esmarie Iannucci     18th July 2018 Mining services provider NRW Holdings has been awarded a A$176-million contract by mining major BHP for bulk earthworks and concrete works at the South Flank project, in the Pilbara. The South Flank operation will leverage and expand on the existing Mining Area C hub, and is BHP's preferred... 

Guinea's mining minister says there will be Simandou deal, talks go on

By: Reuters     18th July 2018 Guinea is in constant talks with Rio Tinto and Chinalco to finalise a deal on the Simandou iron ore project, its mining minister said on Tuesday, adding he was confident an agreement would be reached. Rio Tinto said in October 2016 said it had signed an outline agreement to sell its major stake... 

Iron-ore beats back bears as trade fight batters commodities

By: Bloomberg     18th July 2018 Iron-ore’s become the odd man out as a spike in global trade tensions hurts commodities, with importers in top user China scooping up cargoes to feed booming mills and the government intensifying an anti-pollution drive. That’s helped benchmark prices to stay the course. While copper in London is... 

Iron-ore beats back bears as trade fight batters commodities

New mining fund raising R750m to co-finance ancillary mine projects 

By: Martin Creamer     16th July 2018 In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12J Mining Fund is going all out to raise R750-million for co-investment in ancillary project opportunities on existing mine sites. On the list of targeted project... 

New mining fund raising R750m to co-finance ancillary mine projects
CCP 12J MD Paul Miller talks to Mining Weekly Online’s Martin Creamer on new tax incentives to boost mining investment. Video and Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

Vale notches record Q2 iron-ore, pellet output despite trucker strike

By: Reuters     16th July 2018 Brazil's Vale achieved record iron ore and pellet production for a second quarter despite a nationwide trucker strike that paralyzed Latin America's largest economy in May, the miner said in a filing on Monday. Vale, the world's top iron-ore producer, said iron ore output reached 96.755-million... 

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