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Iron Ore News

Arrium dividend distribution begins

By: Esmarie Swanepoel     22nd September 2017 The administrators of ASX-listed Arrium has begun distributing a first dividend of A$500-million to the creditors of the now defunct company, following the divestment of the company’s steel and mining interests. Arrium administrators said on Friday that about 5 000 unsecured creditors would... 

Giant miner vies with Google, GE, for hires amid automation push

By: Bloomberg     22nd September 2017 Rio Tinto, the world’s second-largest mining company, is focused as much on driver-less trucks and automated drills as conventional shovels and loaders these days. That means it needs a whole lot more high-tech workers. The London-based company is stepping up efforts to lure engineers and... 

Giant miner vies with Google, GE, for hires amid automation push

Master Drilling aiming to extend geographical, technological diversification

By: Mia Breytenbach     22nd September 2017 Raise-boring and drilling solutions provider Master Drilling continues to extend its service provision capacity and technology reach, with the company focusing on diversifying into new markets and industries and advancing technologically. “Diversification across geographies, commodities,... 

Master Drilling aiming to extend geographical,  technological diversification
KEY COMPONENT Master Drilling aims to grow business not only in underground mining, but also in openpit mining, which makes up the majority of mining

Kallak shows jobs, revenue potential – Beowulf

By: Natasha Odendaal     21st September 2017 Aim-listed Beowulf Mining on Thursday said the development of its Kallak magnetite iron-ore project, in Sweden, into a mining operation will create direct and indirect jobs, increase tax revenues and slow down population decline in the nearby town of Jokkmokk. A socioeconomic study, initiated by... 

Iron-ore sinks as 'peak steel' call, supply angst rattle market

By: Bloomberg     20th September 2017 Iron-ore has been dragged back into the $60s after getting hit by a barrage of bad news, with persistent concern about rising global supply, fresh questions about the outlook for demand in China, and a warning from Australia’s central bank that the top buyer may be nearing peak steel. The... 

Chinese group buys auctioned Mapochs mine

By: Martin Creamer     15th September 2017 The provisionally liquidated Mapochs mine has been sold under the hammer to International Resources Limited (IRL) of China, BiddersChoice MD Pieter Geldenhuys confirmed to Mining Weekly Online on Friday. In February last year, the Evraz Highveld Steel and Vanadium business rescue practitioners... 

Chinese group buys auctioned Mapochs mine
The Mapochs mine

Next Fortescue CEO to lead push beyond iron-ore cash machine

By: Bloomberg     15th September 2017 Nev Power’s successor as Fortescue Metals Group Ltd.’s top executive will be charged with leading the world’s fourth-largest iron ore exporter’s drive into new businesses. “We are going to look for and consider other opportunities, where other investors can join us,” chairperson and founder... 

Improved fundamentals prompt Moody’s to adjust higher several commodity price sensitivity ranges

By: Henry Lazenby     14th September 2017 Improved fundamentals amid global economic growth are expected to sustain a higher pricing environment for the global base metals industry, prompting credit ratings firm Moody’s Investors Service to adjust higher the price sensitivity ranges for copper, iron-ore, and metallurgical and thermal... 

Improved fundamentals prompt Moody’s to adjust higher several commodity price sensitivity ranges

Chamber agrees to Minister's written undertaking

By: Martin Creamer     13th September 2017 The Chamber of Mines advises that, following an approach by legal counsel representing Mineral Resources Minister Mosebenzi Zwane, it has reached an agreement with him through his legal counsel in respect of the chamber’s urgent interdict to prevent the implementation of Mining Charter Three, as... 

Chamber agrees to Minister's written undertaking
Chamber of Mines CEO Roger Baxter

Demand for quality metals amplifying – ARM 

By: Martin Creamer     11th September 2017 Global climate change mitigation is amplifying the demand for good quality, low-impurity metals, which are being rewarded with high price premiums. There is a huge drive in China towards better quality, which will eventually use less energy and cause less pollution. (Also watch attached Creamer... 

Demand for quality metals amplifying – ARM
African Rainbow Minerals CEO Mike Schmidt discusses of price premiums being paid for quality with Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer

India likely to miss mineral block auction target

By: Ajoy K Das     8th September 2017 India’s Mines Ministry is likely to miss its goal of completing the auction of 71 noncoal mineral blocks across seven provinces in the current financial year, despite a flurry of activity to ease federal rules. The unpreparedness of provinces to conduct auctions is largely blamed for the tardy... 

Poor market conditions lead to diversification

By: Marleny Arnoldi     8th September 2017 Owing to tough ferrochrome and ferromanganese market conditions globally, process and engineering service provider Metix has had to widen its focus beyond ferrous metals and target the processing of other commodities.  

Assore posts record headline earnings

By: Ilan Solomons     8th September 2017 Mining investment holding company Assore achieved a 199% increase in headline earnings to R5.2-billion for the financial year to June 30, compared with R1.7-billion in the previous year. Attributable earnings amounted to R5-billion, which was an improvement of 226% from 2016, which was also a... 

Assore posts record headline earnings
Photo by Assore
CHARLES WALTER Iron-ore and manganese ore prices have reflected improved global economic conditions

South African mining must be made globally competitive – Motsepe 

By: Martin Creamer     7th September 2017 All South Africans need to work together to ensure that the South African mining industry is a globally competitive investment destination, said African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe on Thursday, when he declared the black-controlled company’s highest-ever dividend.... 

South African mining must be made globally competitive – Motsepe
All South Africans need to work together to ensure that the South African mining industry is a globally competitive investment destination. Video and editing: Darlene Creamer 7.9.2017

Mining production growth slows to 0.9% y/y in July

By: Anine Kilian     7th September 2017 Mining production growth slowed to 0.9% year-on-year in July, compared with production growth of 1.3% year-on-year in June. Statistics South Africa’s (Stats SA’s) latest mining production report, published on Thursday, showed that manganese ore, chromium ore, diamonds and gold were the main... 

African Rainbow Minerals dividend payout soars to record level

By: Martin Creamer     7th September 2017 Diversified mining company African Rainbow Minerals (ARM), which saw its headline earnings soar in the 12 months to June 30, has catapulted its dividend to heady heights. The 189%-higher dividend of 650 cents a share is ARM’s highest dividend to date and the eleventh consecutive yearly dividend... 

African Rainbow Minerals dividend payout soars to record level
Photo by Duane Daws
African Rainbow Minerals executive chairperson Patrice Motsepe.

Heavy haul rail industry urged to improve efficiencies

By: Kim Cloete     5th September 2017 The heavy haul industry should work hard to improve the efficiency of rail operations, cut costs of doing business and create internationally competitive supply chains, says Transnet Group CE Siyabonga Gama. He told delegates at the eleventh International Heavy Haul Association (IHHA) conference,... 

Heavy haul rail industry urged to improve efficiencies

Bamin inks MoU to develop Brazil-based iron-ore project

By: Schalk Burger     4th September 2017 Diversified resources producer Eurasian Resources Group’s (ERG’s) wholly owned Brazilian subsidiary, Bahia Mineração (Bamin), has signed a memorandum of understanding (MoU) with the Brazil state of Bahia and a consortium of Chinese companies to develop a $2.4-billion integrated mining and... 

Bamin inks MoU to develop Brazil-based iron-ore project

Mapochs mine to go under hammer for sale to highest bidder

By: Martin Creamer     4th September 2017 The Mapochs mine, which is in provisional liquidation with its mining right intact, is going under the hammer next Thursday, when it will be sold to the highest bidder. The mine, which supplied ore for the production of both steel and vanadium before Evraz Highveld Steel and Vanadium went into... 

Mapochs mine to go under hammer for sale to highest bidder
Mapochs mine

Fatalities serve to remind industry of necessity to achieve zero harm – DMR

By: Ilan Solomons     1st September 2017 The recent spike in fatalities at South African mines, with the most recent occurring at Harmony Gold’s Kusasalethu mine, near Carletonville, should serve as a timely reminder to the mining industry that a significant step change in health and safety practices is needed to ensure the goal of zero... 

Fatalities serve to remind industry of necessity to achieve zero harm – DMR
Photo by Creamer Media
Department of Mineral Resources chief inspector of mines Mthokozisi Zondi

Iron-ore snafu seen as cautionary tale in mining-friendly Chile

By: Bloomberg     1st September 2017 Chilean authorities’ handling of an iron-ore project has stoked a political storm that cost the jobs of two ministers. The industry hopes it will help keep politics out of projects in the future. In a country boasting strong institutions and clear rules of the game, a government committee’s... 

Despite high upfront costs, technology investments yield long-term savings – BMI

By: Mia Breytenbach     1st September 2017 With metals and mining companies increasingly investing in technology that will help reduce their carbon footprints, owing to the global drive to lower carbon emissions, meaningful efforts to improve environmental standards in the extractive industries require significant upfront costs, according... 

Despite high upfront costs, technology investments yield  long-term savings – BMI
LONG-TERM BENEFIT BMI expexts long-term cost savings to benefit companies that are ahead of the curve when it comes to prioritising green strategies

Red Metal Mining

     1st September 2017 Diversified project engineering house Red Metal Mining (RMM) is focused on the specialised design of cast resin dry-type transformers, mini substations and electrical automation systems required by mining and associated industries. “Wherever electricity is generated, distributed, or required, we... 

Red Metal Mining

NMDC slashes iron-ore production target by one third

By: Ajoy K Das     31st August 2017 India’s largest iron-ore miner, NMDC, has pruned its production target for 2018/19 from 75-million tons to 50-million tons. According to the company’s annual report, the lower production expectation is in response to an anticipated global downturn. 

Rio Tinto cuts ribbon at 16th iron-ore mine

By: Esmarie Swanepoel     31st August 2017 Mining major Rio Tinto has officially opened its $338-million Silvergrass iron-ore mine, in Western Australia. “Silvergrass is a great example of our value-over-volume approach in action as the mine will deliver the high-quality, low-cost ore used to maintain the world-class premium Pilbara... 

Rio Tinto cuts ribbon at 16th iron-ore mine

Vedanta appoints interim CEO

By: Creamer Media Reporter      30th August 2017 Diversified miner Vedanta Resources has appointed Kuldip Kaura interim CEO, effective September 1. Current CEO Tom Albanese will step down on August 31. 

Assore posts record headline earnings of R5.2bn as commodity prices rebound

By: Ilan Solomons     30th August 2017 Mining investment holding company Assore achieved a 199% increase in headline earnings to R5.2-billion for the financial year to June 30, compared with R1.7-billion in the previous year. Attributable earnings amounted to R5-billion, which was an improvement of 226% from 2016, which was also a... 

Assore posts record headline earnings of R5.2bn as commodity prices rebound
Photo by Assore
Assore CEO Charles Walters

Indian iron-ore exports rise, domestic price surges on strong international market

By: Ajoy K Das     30th August 2017 The rising international price of iron-ore has triggered a 10% spike in India’s domestic price and has raised the specter of shortages for domestic steel mills as larger volumes are being diverted for overseas shipments. Information collated from at least three miner-exporters with operations in... 

Iron-ore's kings spend again as China just can't stop buying

By: Bloomberg     30th August 2017 The biggest iron ore producers in Australia are spending as much as $10-billion on mines so they can keep pumping out shipments to China as demand in their biggest customer shows little sign of easing. Led by Rio Tinto Group, the nation’s top three exporters plan to add about 170-million metric... 

Champion secures financing, ten-year offtake from Glencore

By: Henry Lazenby     29th August 2017 Iron-ore mine redeveloper Champion Iron Ore has secured a funding commitment and a ten-year offtake agreement from global commodities giant Glencore International, the junior announced on Monday. The TSX- and ASX-listed firm, whose subsidiary Quebec Iron Ore (QIO) is restarting the high-grade... 

Champion secures financing, ten-year offtake from Glencore
Photo by Henry Lazenby
Caterpillar trucks on site at Champion Iron's Bloom Lake mine, in Quebec

‘Sharp turnaround’ for Atlas Iron in FY17

By: Esmarie Swanepoel     29th August 2017 Iron-ore miner Atlas Iron has swung back into black during the full year ended June, with the company reporting after-tax net profit of A$48-million, compared with a net loss of A$159-million in 2016. Revenue for the full year rose by 11% to A$871-million, while net operating cash flows... 

Vale redeems $1bn in debt; reveals $750m tender offer

By: Henry Lazenby     28th August 2017 Brazil’s Vale has redeemed $1-billion worth of 2019 bonds and will launch a $750-million tender offer for its 4.625% guaranteed notes due 2020. Subsidiary Vale Overseas notified its shareholders of the 2019 notes of its decision to redeem all the outstanding notes and pay the related ‘make-whole’... 

Vale redeems $1bn in debt; reveals $750m tender offer

Corporate and govt cooperation needed to drive energy stability

By: Robyn Wilkinson     25th August 2017 There needs to be ongoing open dialogue between the corporate sector and government to ensure that energy supplies for mining projects are secured and stabilised timeously to take advantage of valuable economic opportunities in Africa, says Johannesburg-based consultancy Core Consultants founder... 

Corporate and govt cooperation needed to drive energy stability
LARA SMITH Governments’ lead times for approving new power plants in African countries are often too long, resulting in a failure to realise the full potential of valuable mining projects

Improve efficiencies before adopting new energy solutions

By: Robyn Wilkinson     25th August 2017 For many mines, there is still significant work to be done in terms of improving operating energy efficiencies, and a sound understanding of the benefits of digitalisation could be the key to unlocking considerable value in this endeavour, says professional services firm EY South Africa advisory... 

Improve efficiencies before  adopting new energy solutions
Photo by Bloomberg
STRATEGIC INVESTMENTS With a thorough understanding of its daily energy requirements, a mine can achieve clarity on where an injection of renewable energy can provide maximum benefit

Modular, mobile dry-type transformers ideal for Africa

By: Robyn Wilkinson     25th August 2017 As mining projects move into ever more remote locations in Africa, modular and mobile energy solutions – such as dry-type transformers – are gaining popularity, says transformer supplier Trafo Power Solutions MD David Claassen. 

Modular, mobile  dry-type transformers ideal for Africa
SAFER OPTION Dry-type transformers are completely flame-retardant and emissions free, using resin and vacuum-pressure impregnation to insulate windings and air as a cooling agent

Rental generators bridging solution for African mines

By: Robyn Wilkinson     25th August 2017 Energy solutions provider Aksa Power Generation expects a high demand in Africa, especially sub-Saharan Africa, for its new range of generators, as the mining industry begins to show signs of recovery and companies look to expand their operations in remote areas. 

Rental generators bridging solution for African mines
READY TO GO Aksa’s new generator rental fleet is well stocked and designed to operate in harsh conditions, providing the ideal interim power solution for mines expanding in Africa

Tax benefits for demonstrated energy savings at mines

     25th August 2017 Fuel solutions provider Masana Petroleum Solutions strongly urges companies to take advantage of the Section 12L Energy Tax Incentive, under South Africa’s Income Tax Act, before it is too late, as this opportunity is limited until 2020. 

Tax benefits for demonstrated energy savings at mines
FUEL FOCUS Masana offers mines high-performance products and fuel management systems for improved haul road efficiencies and reduced heavy equipment maintenance

Incremental improvements now leading to energy efficiency  

By: Robyn Wilkinson     25th August 2017 Having reached an advanced stage, power generation technology development has slowed worldwide, with companies instead intensifying their focus on the cumulative energy savings that can be realised through intensive equipment modifications and the disciplined application of existing technologies,... 

Incremental improvements now leading to energy efficiency
Zest WEG Group integrated sales executive Johan van Niekerk discusses the group’s energy efficiency technologies. Video and Editing: Lionel da Silva
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