http://www.miningweekly.com
R/€ = 14.82 Change: 0.02
R/$ = 12.12 Change: 0.01
Au 1331.25 $/oz Change: -5.20
Pt 1014.00 $/oz Change: 0.99
 

Iron Ore News

More cost cutting as local steel demand still dim

     28th July 2017 To mitigate some of the negative impact of a worse-than-expected performance in the first quarter of the year, South Africa’s largest steel producer ArcelorMittal South Africa (AMSA) is implementing further cost cutting and efficiency measures. This will also include a review of the long steel... 

Mines continue to drive sustainable value creation

By: Simone Liedtke     28th July 2017 The African mining industry is increasingly focusing on generating as much value as possible from mining projects to benefit all mining stakeholders and strengthen its position as a sustainable contributor to the continent’s economies, says consulting engineer Aurecon resources client director... 

Mines continue  to drive sustainable value creation
ASSMANG KHUMANI Community-benefiting projects are associated with mining company Assmang’s Khumani iron-ore mine, located in the Northern Cape, South Africa

ANC’s Mining Charter response ‘very constructive’ – Anglo

By: Martin Creamer     27th July 2017 The response of South Africa’s ruling African National Congress (ANC) party at its recent policy conference, that further discussion is required on the controversial Mining Charter Three, to ensure that investment and employment levels are not negatively affected, has been described as “very... 

ANC’s Mining Charter response ‘very constructive’ – Anglo
Mark Cutifani

Eskom tariffs in AMSA’s action plan crosshairs as losses spike  

By: Terence Creamer     27th July 2017 Steel producer ArcelorMittal South Africa (AMSA) will approach the National Energy Regulator of South Africa (Nersa) directly with a request for discounted electricity tariffs as part of a multi-pronged business sustainability action plan unveiled after the JSE-listed group slumped to a... 

Eskom tariffs in AMSA’s action plan crosshairs as losses spike
AMSA CEO Wim de Klerk on seeking a new electricity tariff deal from Eskom and Nersa. Camera Work & Editing: Darlene Creamer. Recorded: 27.7.2017

Fortescue lifts Q4 output by 20%

By: Esmarie Swanepoel     27th July 2017 Iron-ore miner Fortescue Metals reported a 20% quarter-on-quarter increase in ore mined during the three months to June 30, with C1 costs down 7% over the same period. Fortescue on Thursday reported that the miner produced 53.6-million tonnes in the fourth quarter, shipping some 44.7-million... 

Cash-gushing Anglo restarts dividend as earnings double

By: Martin Creamer     27th July 2017 The underlying earnings of diversified mining company Anglo American have more than doubled in the six months to June 30, when the generation of cash in the half year was more than all of 2016. Earnings hit the $1.5-billion mark and cash flow soared to $2.7-billion. 

Cash-gushing Anglo restarts dividend as earnings double
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Goldman's now bullish on iron-ore this year but warns on 2018

By: Bloomberg     27th July 2017 Goldman Sachs Group boosted its iron-ore forecasts after better-than-expected demand in China raised prices, but combined the revised outlook with a warning that it remains bearish on next year on prospects for plentiful mine supplies and a worldwide glut. The three-month forecast was raised to... 

Deputy Minister ‘uncomfortable’ at not being consulted

By: Martin Creamer     26th July 2017 Deputy Mineral Resources Minister Godfrey Oliphant told Radio 702 morning anchor Xolani Gwala on Wednesday that he was “uncomfortable” at having to read about the proposed mineral rights moratorium in the newspapers. Oliphant, who has served as the deputy to three Mineral Resources Ministers,... 

Deputy Minister ‘uncomfortable’ at not being consulted
Photo by Duane Daws
Deputy Mineral Resources Minister Godfrey Oliphant

Stop moratorium now, NUM instructs DMR 

By: Martin Creamer     26th July 2017 The National Union of Mineworkers (NUM) said on Wednesday that it is deeply concerned by the current consideration by the Minister of Mineral Resources Mosebenzi Zwane to put in place a mineral rights moratorium until the finalisation of the Mining Charter Three court challenge by the Chamber of... 

Sishen productivity leaps by spectacular 57% – Kumba 

By: Martin Creamer     25th July 2017 With 30% fewer trucks, the fleet productivity at the Sishen iron-ore mine in the Northern Cape has leapt by an extraordinary 57%, Kumba Iron Ore CEO Themba Mkhwanazi said on Tuesday, when the company reported a 23% increase in production in the six months to June 30. The contribution of... 

Sishen productivity leaps by spectacular 57% – Kumba
Kumba Iron Ore CEO Themba Mkhwanazi was applauded for Sishen’s productivity leap at the presentation of half-year results covered by Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer.

Kumba CEO Mkhwanazi concerned by Minister’s reneging  

By: Martin Creamer     25th July 2017 Kumba Iron Ore CEO Themba Mkhwanazi on Tuesday expressed concern about the mineral rights and mining transaction moratorium that has been gazetted by Mineral Resources Minister Mosebenzi Zwane, especially because it followed his agreement to suspend the implementation of Mining Charter Three... 

Kumba CEO Mkhwanazi concerned by Minister’s reneging
Kumba Iron Ore CEO Themba Mkhwanazi reported a reinstatement of the dividend at the presentation of half-year results covered by Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video: Darlene Creamer. Video Editing: Lionel da Silva

Mandla Gantsho to replace Fani Titi as Kumba chair

By: Martin Creamer     25th July 2017 Kumba Iron Ore chairperson Fani Titi is to step down from the board of the Johannesburg Stock Exchange-listed mining company from September 30 and will be replaced by Dr Mandla Gantsho, who has been appointed as chairperson designate. Gantsho will join the board on August 1 and will succeed Titi... 

Mandla Gantsho to replace Fani Titi as Kumba chair
Outgoing Kumba Iron Ore chairperson Fani Titi

Kumba lifts iron-ore output 23%, reinstates dividend, shares rise

By: Martin Creamer     25th July 2017 Iron-ore mining company Kumba Iron Ore on Tuesday reported a 23% increase in production in the six months to June 30 on the back of a productivity step change linked to the revised Sishen mine plan. The Anglo American subsidiary achieved a fatality-free half year and reduced lost-time injuries in... 

Kumba lifts iron-ore output 23%, reinstates dividend, shares rise
Photo by Duane Daws
Kumba Iron Ore CEO Themba Mkhwanazi

Copenhagen Economics to study benefits of Kallak mining operation

By: Mariaan Webb     21st July 2017 London-listed Beowulf Mining has appointed Copenhagen Economics to commission an economic study of the benefits of a mining operation at Kallak, in Sweden. The study would seek to articulate the economic benefits to Jokkmokk and Norrbotten and provide a “big picture” of how a mining operation at... 

Moratorium infers intention to circumvent agreement – Leon 

By: Martin Creamer     21st July 2017 The mineral rights moratorium gazette notice of Mineral Resources Minister Mosebenzi Zwane infers an intention to circumvent the underlying purpose of the agreement reached with the Chamber of Mines, Herbert Smith Freehills’ Africa partner and co-chair, Peter Leon, said on Friday. In particular,... 

Moratorium infers intention to circumvent agreement – Leon
Photo by Duane Daws
Herbert Smith Freehills’ Africa practice partner and co-chair Peter Leon

Iron’s surge to $70 draws out sceptics as prices reverse

By: Bloomberg     21st July 2017 Iron-ore’s strong start to the second half and surge above $70 a metric ton will probably fade through the year-end as demand from top buyer China slows and global mine supplies remain robust, according to Sucden Financial and Bank Julius Baer & Co. “Any significant uptick in seaborne cargoes... 

Atlas meets production and cost guidance, generates A$100m in cash

By: Mariaan Webb     21st July 2017 Australian iron-ore junior Atlas Iron has managed to generate A$100-million in net cash from its operations in the 2017 financial year, while reducing its debt by $79-million to A$103-million, MD Cliff Lawrenson reported on Friday. The company delivered on its 2017 production and cash cost... 

Kumba raises Sishen FY production guidance

By: Creamer Media Reporter      20th July 2017 Kumba Iron Ore has raised the full-year production guidance for its Sishen mine, in the Northern Cape, to 28-million to 29-million tonnes, owing to the solid and consistent performance and ongoing improvements at the mine. The mine produced 7.9-million tonnes of iron-ore in the second quarter of... 

Black Iron reinvigorates Ukraine iron-ore project on favourable exchange rate

By: Mariaan Webb     20th July 2017 Canadian explorer and developer Black Iron will develop a new preliminary economic assessment (PEA) for its Shymanivske iron-ore project, in Ukraine, to take into account the favourable exchange rate and a phased development plan. Instead of a 9.9-million-ton-a-year operation, as considered in... 

Black Iron reinvigorates Ukraine iron-ore project on favourable exchange rate

Diamond output leap helps Anglo

By: Martin Creamer     20th July 2017 A sharp rise in rough diamond production at a time of stable diamond trading conditions has boosted diversified mining company Anglo American in the three months to June 30, when overall production was 8% up on a copper-equivalent basis. Rough diamond production increased by 36% to 8.7 million... 

Diamond output leap helps Anglo
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Brazilian judge suspends Samarco dam disaster civil claim indefinitely

By: Henry Lazenby     19th July 2017 A Brazilian federal judge of the Federal Court of Minas Gerais has, for an indefinite time, suspended a public civil lawsuit against Samarco Mineração over the miner’s tailings dam collapse in November 2015, the company said on Tuesday. Vale, the world’s largest iron-ore producer, said in a press... 

Champion stock gains on resolving longstanding Sept-Îles Port dispute

By: Henry Lazenby     18th July 2017 The TSX-listed stock of project redeveloper Champion Iron on Tuesday gained more than 4% after the company announced that it has settled a dispute with the Sept-Îles Port Authority, from where iron-ore product from the Bloom Lake mine, in Quebec, will be shipped to market. The Montreal-based... 

Champion stock gains on resolving longstanding Sept-Îles Port dispute
Photo by Henry Lazenby
Haul truck equipment await their next turn of duty at the mothballed Bloom Lake iron mine, Quebec

Demand growth for some metals may exceed 1 000% – World Bank

By: Martin Creamer     18th July 2017 A new World Bank report highlights the potential impacts that the expected continuing boom in low-carbon energy technologies will have on demand for many minerals and metals, including Southern Africa's platinum, manganese and chrome. Using wind and solar energy, and energy storage batteries, as... 

Fortescue lifts lid on Eliwana production plans

By: Esmarie Swanepoel     18th July 2017 Iron-ore miner Fortescue Metals has applied for environmental approval for new capacity of 50-million tons a year in the Pilbara, but the company was quick to point out that the application does not reflect a production guidance. Fortescue, which last year spearheaded a campaign to force... 

Rio Tinto cuts iron-ore and coal guidance

By: Esmarie Swanepoel     18th July 2017 Diversified major Rio Tinto has revised its full year production guidance for iron-ore and coal, as rail maintenance in the Pilbara and Cyclone Debbie in Queensland, took their toll. During the three months to June, Rio Tinto produced 79.8-million tonnes of iron-ore from its Pilbara operations... 

Rio Tinto cuts iron-ore and coal guidance

Nine recommended improvements should charter renegotiation ensue

By: Martin Creamer     17th July 2017 The agreed suspension of the implementation of the controversial Mining Charter Three may present an opportunity for the parties to negotiate a revised version that reflects terms acceptable to all parties. If so, the renegotiated charter should contain at least nine improvements, say Herbert... 

Nine recommended improvements should charter renegotiation ensue
Photo by Duane Daws
Herbert Smith Freehills Africa partner and co-chair Peter Leon

Top mining nation readying fresh investment wave as prices rally

By: Bloomberg     17th July 2017 Mining companies in Australia, the world’s biggest exporter of iron-ore and coal, are poised to approve fresh investments in projects, driven by rallying commodity prices and the need to replace depleting deposits, according to global equipment supply giant Komatsu. “They’re looking at new... 

Chamber wins round one in battle against mining charter

By: Martin Creamer     14th July 2017 In what is a clear first round victory for the Chamber of Mines of South Africa against the errant Department of Mineral Resources (DMR), Mineral Resources Minister Mosebenzi Zwane has agreed to suspend the implementation of the controversial Mining Charter Three until after the High Court has... 

Chamber wins round one in battle against mining charter
Chamber CEO Roger Baxter – chamber wins first round in fight against devastating Mining Charter Three

Kumba expects 20% headline earnings increase

By: Anine Kilian     14th July 2017 JSE-listed Kumba Iron Ore expects its headline earnings per share (HEPS) and basic earnings per share (EPS) for the period ended June 30 to be at least 20% higher than the comparative period. Headline earnings for the period are likely to be between R4.37-million and R4.74-million, with basic... 

Kumba expects 20% headline earnings increase
Kumba CEO Themba Mkhwanazi

Diversified openpit miner looks to entire continent for growth

By: Simone Liedtke     14th July 2017 Multidisciplinary openpit mining company Afrimat intends to develop its strategy of growth through diversification further by exploiting new opportunities in Africa by remaining “agile and entrepreneurial”. 

Diversified openpit miner looks to entire continent for growth
DIRO IRON-ORE MINE Afrimat is aiming to reach a production rate of one-million tons a year of saleable product

Mining ups y/y output in May, but down again month on month

By: Mia Breytenbach     13th July 2017 South Africa’s headline mining production grew 3.6% year-on-year in May, but contracted -0.2% from the downwardly revised month-on-month decrease in April over March, of -1.4%. The three largest positive contributors to the headline improvement in mining activity came from iron-ore production,... 

May mining output falters on uncertain commodity prices

By: Martin Creamer     13th July 2017 Mining production data released by Statistics South Africa on Thursday revealed a second consecutive month of production contraction. The -0.2% contraction and the -1.4% contraction in April are viewed as concerning by Chamber of Mines of South Africa chief economist Henk Langenhoven, owing to... 

May mining output falters on uncertain commodity prices
Photo by Duane Daws
Chamber of Mines of South Africa chief economist Henk Langenhoven

One-billion tons of iron-ore are headed to China's mills in 2017

By: Bloomberg     13th July 2017 Iron-ore imports by China this year are on course to exceed one-billion metric tons by a comfortable margin, breaking 2016’s record, after figures for the first half showed another jump in cargoes and highlighted the ability of the largest steelmaker to absorb rising seaborne supplies. Shipments... 

Champion secures $180m for Bloom Lake

By: Esmarie Swanepoel     13th July 2017 ASX- and TSX-listed Champion Iron has secured $180-million in debt financing to support the restart of operations at its Bloom Lake iron-ore mine, in Quebec. The financing, secured from Caisse de depot et placement du Quebec and Sprott Resource Lending, will be undertaken in two tranches, the... 

Chamber’s interdict application likely to succeed – attorney

By: Nadine James     12th July 2017 Mining industry employers’ organisation Chamber of Mines’ (CoM’s) urgent interdict application to halt the implementation of the third iteration of the Mining Charter – published by Mineral Resources Minister Mosebenzi Zwane on June 15 – is likely to succeed, says Webber Wentzel partner Rita... 

Chamber’s interdict application likely to succeed – attorney
Photo by Ilan Solomons
Mineral Resources Minister Mosebenzi Zwane

Miners rewarded for improved capital discipline

By: Henry Lazenby     11th July 2017 Increased cash flows, merger and acquisition (M&A) activity and new debt issues have helped many of the world’s top miners strengthen their balance sheets in 2016, reflecting miners’ response to investor messages around capital discipline, according to new analysis from PwC Canada. "As the global... 

Miners rewarded for improved capital discipline

Beowulf does not expect much progress on Kallak application until mid-September

By: Creamer Media Reporter      10th July 2017 UK-headquartered Beowulf Mining said on Monday that its CEO had met with representatives of the Swedish mining industry, politicians and government agencies at Almedalen last week, to plead the case of its Kallak magnetite iron-ore project. Kurt Budge used the meetings to detail the chronology... 

Australia forecasts lower resource earnings as commodity demand is seen slowing

By: Esmarie Swanepoel     7th July 2017 Iron-ore and metallurgical price increases, which gave Australia’s resource and energy export earnings a 25% lift in 2016/17, are unlikely to last, resulting in the Office of the Chief Economist forecasting lower export earnings for the next two years. Resource and energy export earnings are... 

Australia forecasts lower resource earnings as commodity demand is seen slowing
RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Register Close