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Iron Ore News

Goldman's most bullish on commodities since supercycle ended

By: Bloomberg     2nd February 2018 Goldman Sachs Group is more bullish on commodities than any time since the end of the supercycle in 2008. As economies around the world pick up, factories are humming, eating into stockpiles of raw materials and driving demand at miners and oil producers already facing limits on output. Copper,... 

Chile miner CAP doubles earnings in 2017, shares rise

By: Reuters     1st February 2018 Chile iron-ore and steel producer CAP more than doubled its earnings in 2017 over the previous year, the company said in a year-end earnings report on Thursday, boosted by rising iron prices even as its total exports of the metal dropped. CAP reported profits of $130.3-million in 2017, more than... 

Beowulf maintains Kallak mine and reindeer herding can co-exist

By: Mariaan Webb     1st February 2018 The UK-based mineral exploration and development seeking to build a magnetite iron-ore mine on the ancestral lands of the indigenous Sami people in northern Sweden has been dealt a blow, after the County Administrative Board (CAB) for Norrbotten recommended against an exploitation licence for the... 

Beowulf maintains Kallak mine and reindeer herding can co-exist
Drilling at the Kallak deposit in northern Sweden.

AMSA weighs asset disposals as losses mount, debt rises and rand strengthens 

By: Terence Creamer     31st January 2018 ArcelorMittal South Africa (AMSA) is considering various asset disposals as part of a plan to strengthen its balance sheet, which remains under pressure as a result of a protracted period of lossmaking, which has endured since 2010. The JSE-listed steelmaker declared another headline loss of... 

AMSA weighs asset disposals as losses mount, debt rises and rand strengthens
New AMSA CEO Kobus Verster on the immediate outlook for the group and initiatives under way to improve prospects for a return to profitability. Camera Work & Editing: Nicholas Boyd. Recorded: 31.1.2018

Vale diversifies away from iron-ore despite strong China demand – CEO

By: Reuters     30th January 2018 Continued Chinese efforts to reduce pollution will boost demand for Vale's high quality iron-ore, the Brazilian miner's chief executive said on Tuesday, even as the world's top iron-ore producer seeks to diversify away from the metal. China's aggressive campaign to clean its skies by clamping... 

Dalian iron-ore near 1-month low, limited impact from icy weather

By: Reuters     30th January 2018 Chinese iron-ore futures ticked higher, but kept near one-month lows on Tuesday, as ample supply of the steelmaking raw material countered transport disruptions caused by heavy snow in the country. Rebar steel prices slipped, touching their lowest in nearly a week at one point. 

BCI progressing diversified portfolio

By: Schalk Burger     30th January 2018 Junior miner BCI Minerals continues to focus on advancing existing projects and remaining debt-free, the company said on Tuesday in its quarterly report to the end of December. BCI’s cash balance was A$18.9-million at the end of December, down A$4.7-million compared with the quarter to the end of... 

Fortescue C1 costs fall to record low of $12/wmt

By: Mariaan Webb     30th January 2018 Iron-ore producer Fortescue Metals has lowered its cash production costs (C1) to a record low of $12.08 a wet metric tonne (wmt). The C1 compares with $12.15/wmt in the first quarter of the 2018 financial year and $12.54/wmt in the corresponding period of 2017, Australia’s third-largest... 

Atlas reduces debt, progresses diversification plans

By: Megan van Wyngaardt     29th January 2018 Iron-ore producer Atlas Iron has repaid a further A$20-million of its debt, as the ASX-listed company continues its strategy of repositioning the business by reducing debt, growing its iron-ore business through the Utah Point and diversifying beyond iron-ore. Atlas reported on Monday that the... 

Indian iron-ore benchmark price proves elusive even as clamour mounts to check rising prices

By: Ajoy K Das     29th January 2018 Even as clamour mounts among various segments of India’s steel industry over a shortage of iron-ore availability and the high prices of domestic raw material, evolving an acceptable benchmark price model for iron-ore is proving elusive for the government. Various steel producers, including blast... 

Anglo American wins two licences to expand in Brazil

By: Reuters     26th January 2018 Anglo American on Friday clinched two long-awaited environmental licenses that pave the way for the global mining company to expand its Minas-Rio iron-ore mine in the Brazilian state of Minas Gerais. Minas Gerais environmental regulator Semad granted a pre-installation and installation permit to... 

Consultancy to partner with black entrants as they acquire Tier 1 coal assets 

By: Martin Creamer     26th January 2018 Project delivery and engineering consultancy WorleyParsons RSA is once again answering the call for transformation and broader economic participation of previously disadvantaged South Africans. The company’s latest initiative is black entrepreneur development in coal, which will be its key focus... 

Consultancy to partner with black entrants  as they acquire  Tier 1 coal assets
WorleyParsons RSA CEO Denver Dreyer discusses Mining Indaba plans with Mining Weekly’s Martin Creamer.

Cliffs delivers second consecutive year of +25% Ebitda growth

By: Henry Lazenby     25th January 2018 US iron-ore company Cleveland-Cliffs has delivered on promises to aggressively drive up growth in its earnings before interest, tax, depreciation and amortisation (Ebitda) metric, reporting growth greater than 25% for the second consecutive year. Based in Cleveland, Ohio, the company reported... 

Kumba’s FY17 iron-ore output up 8% y/y 

By: Creamer Media Reporter      25th January 2018 Kumba Iron Ore produced 44.98-million tonnes of iron-ore in 2017, exceeding guidance. Production was also 8% higher than the 41.48-million tonnes produced in 2016. 

Côte d'Ivoire mining sector turnover rose 11.5% in 2017

By: Reuters     25th January 2018 Côte d'Ivoire's mining sector turnover rose by 11.5% in 2017, an increase achieved mainly via exports of gold, manganese and nickel, the government spokesman said on Wednesday. "The mining sector announced a sales revenue of 539-billion CFA francs ($1.02-billion) in 2017, compared to 483-billion... 

Chinese steel mills win domestic iron-ore pricing in some 2018 contracts

By: Reuters     25th January 2018 Chinese steelmakers have succeeded in a push to include domestic iron-ore price indices in some 2018 annual supply contracts with global miners, four industry sources said, as the world's top buyer boosts its clout over pricing of major commodities. The move marks a major step in the evolution... 

ArcelorMittal to spend C$70m to upgrade Quebec-based Contrecoeur mill

By: Henry Lazenby     24th January 2018 Multinational steel producer ArcelorMittal will spend C$70-million to 2020 to upgrade its Contrecoeur steel mill, in Quebec. The upgrade plans include expanding rolling capacity by 100 000 t/y by replacing two reheating furnaces at its Contrecoeur-East wire rod mill for about C$30-million, and... 

Goldman, Citi final bidders for Scotiabank's metals business – sources

By: Reuters     24th January 2018 The field of prospective bidders for ScotiaMocatta, the metals trading arm of Canada's Bank of Nova Scotia, has narrowed to two, three banking and industry sources said on Wednesday. The two - Goldman Sachs Group and Citi - are undertaking due diligence checks, the sources said. 

Anglo American expects to get licences to expand in Brazil

By: Reuters     24th January 2018 Anglo American said on Tuesday it expects to receive long-awaited licences on Friday which will pave the way for the mining company to boost its Brazilian iron ore production capacity by about 56%. Anglo American plans to invest 1-billion reais ($308.94-million) to expand its iron ore extraction... 

NMDC seeks fresh mining lease in Odisha to up iron-ore production

By: Ajoy K Das     24th January 2018 India’s largest iron-ore miner, government-owned NMDC, has sought new mining leases from Odisha to help it produce 45-million tons in 2018/19, up from the expected 35-million tons by the end of March 31 this year. NMDC has proposed that the Odisha government issue it new mining leases from among... 

Sundance inches closer to developing Mbalam-Nabeba project

By: Megan van Wyngaardt     22nd January 2018 Iron-ore developer Sundance Resources has signed a binding memorandum of understanding (MoU) with private Chinese company Tidfore Heavy Equipment Group and Cam Iron – a subsidiary of Sundance that has a mining permit application over the previous EP92 in Cameroon. The MoU will provide a framework... 

Regulatory uncertainty casting shadow over SA amid forecast for further minerals market uptick

By: Mia Breytenbach     19th January 2018 The South African mining industry has had a tumultuous time because of the controversial Reviewed Draft Broad-Based Black Economic Empowerment Charter for the South African Mining and Minerals Industry, also known as Mining Charter III, which, amid lingering political uncertainty, led to low... 

Regulatory uncertainty casting shadow over SA amid forecast for further minerals market uptick

China govt curbs drop avg daily steel output to 12-mth low in Dec

By: Reuters     18th January 2018 China's average daily steel output fell 1.9% in December from the previous month, official data showed on Thursday, touching the lowest level in a year as government-imposed production curbs deepened. Total output climbed to 67.05-million tonnes in December from 66.15-million tonnes in November,... 

New ‘disruptive’ mine borer heads for Indaba unveiling

By: Martin Creamer     18th January 2018 A new Proudly South African mine tunnel borer that requires no blasting, delivers higher production advances, comes with a collaboration imprimatur and can be retrofitted to existing operations, will be unveiled at next month’s Mining Indaba in Cape Town and commissioned in the third quarter of... 

New ‘disruptive’ mine borer heads for Indaba unveiling
Photo by Duane Daws
Danie Pretorius

BHP maintains guidance for most commodities, targets 6% volume growth

By: Dylan Slater     18th January 2018 Multinational miner BHP on Thursday kept its full-year production guidance unchanged for all commodities, except metallurgical coal, and said that it would achieve 6% volume growth in the 2018 financial year.  

BHP maintains guidance for most commodities, targets 6% volume growth
The Escondida mine in Chile delivered higher volumes in the December half year.

BHP second-quarter iron-ore output up 3%, maintains forecast

By: Reuters     18th January 2018 Global miner BHP on Thursday reported a 3% rise in second-quarter iron-ore production year over year and said it expects to meet its full-year target as prices for the steelmaking ingredient outperform forecasts. BHP's iron-ore output climbed to 72-million tonnes for the three months ended... 

BHP second-quarter iron-ore output up 3%, maintains forecast

Vale could be 'natural' owner for Samarco, in talks with BHP

By: Reuters     17th January 2018 Brazil's Vale is in talks with BHP Billiton on options for their joint venture Samarco, and it may be easier for Vale to resolve that miner's problems as sole owner, a director of the Brazilian mining company said on Wednesday. "Maybe Vale would be a natural owner of Samarco, maybe it could make... 

DRA expands Asia-Pacific footprint

By: Martin Creamer     17th January 2018 Global engineering, project delivery, contract operations specialist and asset management group DRA’s acquisition of Perth-based Minnovo expands its Australian footprint and adds depth to its metallurgical, engineering, procurement, project management, construction and commissioning capabilities... 

DRA expands Asia-Pacific footprint
Photo by Duane Daws
DRA CEO Wray Carvelas

Miners bolster senior ranks in preparation for fast-paced 2018

By: Henry Lazenby     16th January 2018 Several Canadian listed miners reported senior management changes on Tuesday. Marine mining hopeful Nautilus Minerals announced Tuesday that Tariq Al Barwani has been appointed to the role of nonexecutive chairperson. Al Barwani joined the board in May 2016. He is a director and shareholder of MB... 

November mining figures impress, but volatility seems to be on the cards

By: Megan van Wyngaardt     16th January 2018 While the local November mining production statistics showed a relatively solid increase by 6.5% year-on-year, bolstered by platinum group metals (PGMs), iron-ore and coal, the longer-term prospects for the industry remain less certain, owing to a difficult operating environment and policy... 

Brazilian miner Vale ordered to repair environmental damage

By: Reuters     16th January 2018 A Brazilian court on Monday ordered the world's largest iron-ore miner Vale to repair environmental damages its operations caused in land belonging to a community of descendants of escaped slaves in northern Brazil. Federal prosecutors announced the ruling in a statement that said the electricity... 

Glencore reserves should be valued higher – analysts

By: Martin Creamer     15th January 2018 Investors should be prepared to value the reserves of metal that Glencore owns more highly to reward the proactive approach that the London- and Johannesburg-listed diversified mining company has towards managing its assets. Reflecting on the decision of Glencore to pull metal from the market... 

Glencore reserves should be valued higher – analysts
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Smarter mining, manufacture, agriculture needed, says IDC’s Maia 

By: Martin Creamer     12th January 2018 South Africa needs to aim towards smarter mining, smarter agriculture and smarter manufacturing. “It’s about taking all the major sectors of the economy forward, with each feeding on the other,” says Industrial Development Corporation (IDC) research and information head Jorge Maia of the roles... 

Smarter mining, manufacture, agriculture needed, says IDC’s Maia
Industrial Development Corporation research and information head Jorge Maia and Unctad economic affairs officer Stefan Csordas respond to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

Strong commodity price rally lifts IHS Materials Price Index for ninth consecutive week

By: Henry Lazenby     12th January 2018 The IHS Materials Price Index (MPI) is in its ninth consecutive week of gains, jumping 2.8% last week – the strongest weekly performance since early September. According to IHS Markit economist Cole Hassay, the MPI was supported by broad-based positive indicators, with eight of ten subcomponents... 

Port Hedland clearing out ships as Cyclone Joyce intensifies

By: Reuters     11th January 2018 Australia's Port Hedland iron-ore terminal expects to clear all remaining vessels from its harbour by 10:30 GMT as a safety measure after a tropical cyclone intensified off the nation's western coast on Thursday, Pilbara Ports Authority said. The port's biggest user, global mining giant BHP,... 

BCI Minerals signs MoU with Sinosteel to develop Buckland

By: Megan van Wyngaardt     10th January 2018 Australian iron-ore miner BCI Minerals has signed a non-binding memorandum of understanding (MoU) with Sinosteel Australia to support the development of BCI's 100%-owned Buckland project in the West Pilbara region. The project comprises proposed mines, a private haul road and a new port at Cape... 

Port Hedland may clear ships as storm builds off Australia - port authority

By: Reuters     10th January 2018 essels may be cleared from Australia's Port Hedland, the world's biggest iron ore export terminal, as early as Thursday as a safety precaution because of a tropical storm, port manager Pilbara Ports Authority said on Wednesday. The authority said Port Hedland may commence the clearing of vessels... 

Pelletiser maintenance impacts on Ferrexpo FY output

By: Creamer Media Reporter      9th January 2018 Swiss headquartered iron-ore company Ferrexpo said on Tuesday that its pellet production had fallen to 10.4-million tonnes in 2017, owing to planned pelletiser maintenance. The London-listed company, which is the largest exporter of pellets from the former Soviet Union, produced 11.2-million... 

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