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Iron Ore News

Beowulf continues to lobby Swedish govt for Kallak North concession

By: Simone Liedtke     5th March 2018 Aim-listed mineral exploration and development company Beowulf Mining's CEO Kurt Budge has written to the Swedish government in response to the government's request for final comments in respect of the company's application for an exploitation concession for the Kallak North iron-ore project.... 

'Don't react': trade experts look past Trump noise at NAFTA talks

By: Reuters     4th March 2018 Donald Trump may be president of the US but his words do not necessarily carry the weight of the US government at the biggest trade shake-up he is pushing. Sometimes, it is better to block them out and carry on, participants say. Negotiations between the US, Canada and Mexico to redraw the North... 

'Don't react': trade experts look past Trump noise at NAFTA talks

Improved H2 sees Grange record stable FY17 profit

By: Megan van Wyngaardt     2nd March 2018 ASX-listed Grange Resources' profit after-tax reached $60.7-million for the year ended December 31, despite a combination of iron-ore market uncertainty and operational difficulties experienced in the first half of the year. The company's operations were restored back to full production in the... 

Fortescue secures $500m through bond offering

By: Megan van Wyngaardt     2nd March 2018 Australian iron-ore miner Fortescue Metals Group (FMG) has raised $500-million through offering 5.25% senior unsecured notes, due 2025. FMG CFO Ian Wells on Friday noted that the completion of the offering was a step in the transition from an all-asset secured capital structure to one which... 

A proposal to the President - A six-point plan

2nd March 2018 South Africa's minerals and mining industry faces severe headwinds. The Republic of South Africa hosts a treasure trove of geology and minerals, valued at about $2.5-trillion. Without modern exploration, prospecting, and new local and foreign investment, these resources will not be developed for... 

A proposal to the President - A six-point plan

Vale says Samarco should resume operations by year-end or early 2019

By: Reuters     1st March 2018 Executives at Brazilian miner Vale said on Wednesday that the Samarco mine may resume operations around the end of this year or in early 2019, but cautioned that the process depends on obtaining environmental licenses. Work at the Samarco mine, a joint venture between Vale and Australia's BHP... 

Vale CEO eyes first quarter results in line with fourth quarter

By: Reuters     28th February 2018 Brazilian miner Vale should achieve results in the first quarter that are similar to those in the final three months of 2017, the chief executive officer of the world's top iron-ore producer said on Wednesday. In a conference call after the company reported a nearly 50% jump in profit in the... 

Vale sails new 'green' ship in bid to cut rivals China advantage

By: Bloomberg     28th February 2018 Brazil’s Vale SA has sailed the first in a fleet of more efficient cargo vessels it’s using in a push to minimize the geographical advantage of its Australian rivals in sending iron ore to China. The Yuan He Hai is part of a second-generation line of Very Large Ore Carriers, known as VLOCS or... 

Vale sails new 'green' ship in bid to cut rivals China advantage

Vale Q4 profit rises but misses estimates on costs, forex

By: Reuters     28th February 2018 Brazilian iron-ore miner Vale SA's quarterly net income jumped by 47% but still badly missed analyst estimates, depressed by rising costs and foreign exchange related losses. 

Resounding welcome for Gwede, who declines opportunity to comment

By: Martin Creamer     27th February 2018 New South African Mineral Resources Minister Gwede Mantashe has received a resounding welcome from the Chamber of Mines of South Africa, Business Leadership South Africa (BLSA) and mining luminaries. The Chamber of Mines of South Africa has welcomed the appointment of Mantashe, 62, describing him... 

Resounding welcome for Gwede, who declines opportunity to comment
Photo by Duane Daws
Incoming Mineral Resources Minister Gwede Mantashe

Atlas Iron adjusts product strategy to counter steep discounts

By: Mariaan Webb     27th February 2018 Mid-sized Australian iron-ore producer Atlas Iron has remained cashflow-positive in the financial half-year ended December 2017, despite high discounts for lower grade iron-ore as a result of China cleaning up its pollution act. The company, which mines iron-ore from operations in the northern... 

Atlas Iron adjusts product strategy to counter steep discounts

Stronger-than-expected iron-ore price rally not expected to last – BMI

By: Creamer Media Reporter      23rd February 2018 The strong iron-ore price rally over the last several months is not expected to last and will gradually run out of steam over the next several years as Chinese economic growth refocuses away from heavy industry to services, dampening global demand for the steelmaking ingredient, Fitch... 

Champion Iron Ore sends off first loaded train

By: Henry Lazenby     23rd February 2018 TSX- and ASX-listed miner Champion Iron Ore has dispatched its first loaded train of iron-ore from subsidiary Quebec Iron Ore's (QIO's) flagship Bloom Lake mine, near Fermont. The train load comprised 16 500 t of high-grade 66% iron concentrate and is destined for the Sept-Îles port, from where... 

Grange seeks investors for high-grade magnetite project

By: Nadine James     23rd February 2018 Iron-ore miner Grange Resources and its joint venture (JV) partner SRT Australia on Friday announced the appointment of PCF Capital Group to assist with finding strategic investors for the Southdown magnetite project, near Wellstead, Western Australia. Gange CEO Honglin Zhao stated Southdown was... 

Finland takes top spot for mining-friendly investment 

By: Henry Lazenby     23rd February 2018 Finland has ousted Saskatchewan as the top international jurisdiction for mining investment, Canada's Fraser Institute announced on Thursday. Canada's leading independent think-tank, the Fraser Institute, administers its Annual Survey of Mining Companies and ranks jurisdictions around the world... 

Finland takes top spot for mining-friendly investment

De Beers unit’s density measurement system now commercially available

By: Mia Breytenbach     23rd February 2018 De Beers Group of Companies’ innovation division De Beers Technologies South Africa (DebTech SA) has developed a novel density measurement system that can provide process plants with fast and accurate data on material density profiles of particle samples. The availability of this data, in turn,... 

De Beers unit’s density measurement system now commercially available
ACCURATE MEASUREMENT The RhoVol has a process rate of approximately 1 000 particles an hour, which is generally sufficient for a representative sample

Flare-gas-harnessing solution to be on show at Infacon XV

By: Nadine James     23rd February 2018 Swedish clean technology company Ripasso Energy will be presenting its PWR BLOK 400-F solution to the international ferroalloys industry at the fifteenth International Ferro-Alloys Congress (Infacon XV), which is taking place at the Century City Conference Centre in Cape Town, from February 25 to... 

Restructured Anglo American reaps benefits, posts solid FY17 results

By: Simone Liedtke     22nd February 2018 After an extensive restructuring, diversified miner Anglo American raised its dividend for the 2017 financial year to $1.02 a share - its highest dividend in nearly a decade. The "fundamentally different business" nearly halved its debt to $4.5-billion and doubled its free cash flow by 93% to... 

Restructured Anglo American reaps benefits, posts solid FY17 results
Diversified miner Anglo American

What happens when China's steel curbs end? Here's BHP's take

By: Bloomberg     22nd February 2018 Steelmakers in China are about to get back to business full-time. When unprecedented winter supply curbs lapse in the coming weeks, BHP Billiton forecasts mills in the top producer will step up output, boosting run rates through the second quarter to make up for curtailments. The resumption will... 

What happens when China's steel curbs end? Here's BHP's take

Volumes, dollar prices keep rand at bay for divi-hoisting Assore

By: Martin Creamer     21st February 2018 Improved volumes and better dollar prices proved sufficient for mining holding company Assore to keep rand strength at bay in posting strong headline earnings growth and a sharp interim dividend increase. The company's half-year results were highlighted by a 12% rise in headline earnings, a... 

Volumes, dollar prices keep rand at bay for divi-hoisting Assore
Photo by Duane Daws
Assore CEO Charles Walters

China’s iron-ore discounts hit Fortescue revenue, profit falls sharply

By: Mariaan Webb     21st February 2018 Chinese steelmakers’ demand for better-quality ore has had a significant impact on Australian miner Fortescue Metals’ half-year financial performance, with revenue contracting by 18% and net profit falling sharply, sending shares down about 4% on Wednesday. Australia’s third major iron-ore... 

China’s iron-ore discounts hit Fortescue revenue, profit falls sharply
The ore processing facility at Solomon.

BHP rewards shareholders, profit jumps 25% on commodity prices

By: Mariaan Webb     20th February 2018 Higher commodity prices have helped the world’s largest diversified mining group to report a 25% increase in its underlying attributable profit and to reward shareholders with higher interim dividends. Melbourne-headquartered BHP grew its underlying attributable profit from $3.24-billion in the... 

BHP rewards shareholders, profit jumps 25% on commodity prices
BHP CEO Andrew Mackenzie

Cyclone Kelvin lashes West Australia, no damage reported to mines, gas projects

By: Reuters     19th February 2018 Tropical Cyclone Kelvin hit the resource-rich north coast of Western Australia on Sunday, lashing it with strong winds and causing floods that could cut the main highway for up to two weeks. The storm crossed the coast 165 km south-southwest of Broome early on Sunday morning with destructive... 

Vale notches record iron-ore output in 2017, sales slip

By: Reuters     16th February 2018 Brazilian miner Vale said on Friday that total iron-ore output reached a record of 366.5-million tonnes last year, boosted by record high production from its so-called northern system, even as iron ore sales slipped slightly from 2016. The northern system, composed of its Carajás, Serra Leste... 

Leon expects mining industry to have a future under Ramaphosa’s Presidency

By: Nadine James     16th February 2018 Herbert Smith Freehills partner and Africa co-chairperson Peter Leon is cautiously optimistic that the changes signalled by newly elected President Cyril Ramaphosa will benefit South Africa’s economic recovery. In a speech to the British Chamber of Business in South Africa on Thursday evening, he... 

Leon expects mining industry to have a future under Ramaphosa’s Presidency
Photo by Duane Daws
Herbert Smith Freehills partner and Africa co-chairperson Peter Leon

Fortescue's Aboriginal programme hits A$2bn mark

By: Simone Liedtke     16th February 2018 Iron-ore major Fortescue Minerals' 'billion opportunities programme' has reached the A$2-billion-mark, with 250 contracts and sub-contracts having been awarded to 110 Aboriginal businesses and joint ventures in the seven years since its inception. CEO Nev Power said on Friday that the programme... 

Sound policy, low risk key to attracting mining investment

By: Henry Lazenby     16th February 2018 The global equity markets have been extremely volatile in recent weeks, extending a frantic selloff in US stocks that culminated in the steepest plunge for the Dow Jones Industrial Average in six-and-a-half years. While commodities were not spared from the rout, American multinational investment... 

Sound policy, low risk key to attracting mining investment

Indian mineral royalty rate revision on the cards

By: Ajoy K Das     15th February 2018 Signaling an imminent revision in royalties payable, barring coal, lignite and sand, the Indian government has constituted a study group to review existing rates, recommend any revision and suggest policy changes in administration of the royalty regime. According to a government order, the... 

Kumba profit up 12% in 'royal flush' year – CEO

By: Megan van Wyngaardt     13th February 2018 In a year that CEO Themba Mkhwanazi describes as a "royal flush", Kumba Iron Ore posted a 12% increase in headline earnings to R9.7-billion. Headline earnings reached R30.47 a share, while earnings before interest, taxes, depreciation and amortisation increased by 6% year-on-year to R19.6-billion... 

Mugabe's fall has veteran miners jockeying for Zimbabwe comeback

By: Bloomberg     13th February 2018 Robert Mugabe’s fall as Zimbabwe president is setting the scene for the return of a London mining listing for Andrew Groves and his long-term business partner – and former England cricketer – Phil Edmonds. Groves is preparing to relist the pair’s Zimbabwe coal, chrome and gold assets in London... 

Kumba FY17 profit rises 12%

By: Reuters     13th February 2018 South Africa's Kumba Iron Ore reported a 12% rise in annual profit on Tuesday, underpinned by higher costs for the steel-making ingredient. The company, a unit of Anglo American, said headline earnings came in at R9.7-billion ($813.36-million), or R30.47 a share, in the year ended December 2017,... 

Kumba expects FY17 earnings to soar as production improves

By: Megan van Wyngaardt     9th February 2018 Kumba Iron Ore's headline earnings for the year ended December 31 are likely to increase by 7% to 15% year-on-year to between R9.3-billion and R9.98-billion and its headline earnings per share (HEPS) to between R29.13 and R31.27. "The increase in headline earnings is largely attributable to... 

Industry, environment lobby cautiously optimistic as Canada tables new enviro review rules

By: Henry Lazenby     9th February 2018 Ottawa on Thursday tabled new legislation to improve the federal environmental assessment process for mining projects. The legislation is aimed at strengthening and restoring the credibility of Canada's environmental laws. 

Industry, environment lobby cautiously optimistic as Canada tables new enviro review rules

Vedanta assessing impact of Goa suspension

By: Mariaan Webb     8th February 2018 Diversified mining company Vedanta Resources confirmed on Thursday that its mines would be affected by the Indian Supreme Court ruling that cancelled 88 mining leases in the iron-ore producing province of Goa. Mining operations would stop on March 16, Vedanta said, adding that operations would... 

Zimbabwe to consider waivers on platinum, diamonds ownership law

By: Bloomberg     8th February 2018 Zimbabwe will consider applications from companies mining platinum or diamonds to be exempted from a requirement that they be at least 51% owned by black citizens of the country. The government wants companies to show they have a plan to achieve compliance before it will consider granting... 

Big Mining Indaba thinking for 2019’s quarter-century milestone

By: Martin Creamer     8th February 2018 This year’s Investing in African Mining Indaba has just ended here and the organisers are already putting their thinking caps on to make next year’s twenty-fifth anniversary of the event a grand affair. The names Cyril Ramaphosa, Elon Musk and the top who’s who of global and African mining are... 

Big Mining Indaba thinking for 2019’s quarter-century milestone
Photo by Duane Daws
Investing in African Mining Indaba MD Alex Grose

China iron-ore imports hit 2nd-highest on record on restocking

By: Reuters     8th February 2018 China's iron-ore imports jumped to the second highest level on record in January as the world's top buyer built stockpiles ahead of the Lunar New Year holiday and the lifting of steel production curbs next month. Shipments of the steelmaking raw material in January climbed 19% from December to... 

Strike says planned Peru railway will link its 20Mt/y project to port

By: Mariaan Webb     8th February 2018 Plans for a 570-km multiuser railway from the inland city of Andahuaylas in southern Peru to the mineral export Port of San Juan de Marcona on the west coast of Peru will significantly improve development prospects for Australia-listed junior Strike Resources’ 20-million-tonnes-a-year iron-ore... 

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