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Iron Ore News

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... 

Mt Gibson gets A$64m insurance payout

By: Esmarie Swanepoel     7th July 2017 ASX-listed Mount Gibson Iron has agreed to a A$64.3-million cash settlement with its insurers for business interruptions suffered as a result of the failure of the Koolan Island Main Pit seawall, in Western Australia, in October 2014. The mine was placed on care and maintenance at the end of... 

Sierra Leone court backs Cape Lambert request

By: Esmarie Swanepoel     7th July 2017 The High Court of Sierra Leone has issued a court order preventing the liquidation of Timis Mining and allowing ASX-listed Cape Lambert and others to proceed to arbitration. Cape Lambert in May launched legal action in Sierra Leone against Timis Mining, Gerald Mining and others, over overdue... 

Conveyor belt measuring systems delivered to notable iron-ore project

     7th July 2017 Laser measurement technology supplier LASE has delivered 15 LaseBVC laser-based measuring systems for bulk volume transported on conveyor belts to an iron-ore mining project at the S11D Eliezer Batista complex owned by Brazilian mining major Vale. Opened in December 2016, the iron-ore mining... 

Conveyor belt measuring systems delivered to  notable iron-ore project
ONE FOR THE BOOKS Vale’s iron-ore mining project in North Brazil is the largest of its kind in the company’s history

Improved iron-ore market bodes well for Congo project – developer

By: Mia Breytenbach     7th July 2017 The global iron-ore industry's performance improved significantly in 2016 from a cost and pricing perspective, providing a much more positive platform going into 2017, Zanaga Iron Ore Company (ZIOC) nonexecutive chairperson Clifford Elphick said in a company results statement last week. Industry... 

Improved iron-ore market bodes well for Congo project – developer
Photo by Bloomberg
RISING APPRECIATION Zanaga Iron Ore Company suggests the demand spectrum is increasingly showing an appreciation in pricing of higher-quality lump and pellet feed iron-ore products

Ferrexpo’s Ukraine operations record lower Q2 pellet output

By: Megan van Wyngaardt     6th July 2017 Swiss-headquartered Ferrexpo’s Ukraine assets recorded a 3.3% quarter-on-quarter decrease in iron-ore pellet production to 2.53-million tonnes in the second quarter. This brought pellet production for the first half of the year to 5.16-million tonnes, 9.9% lower than the 5.72-million tonnes... 

Wescoal’s Mazarura appointed Kumba CFO

By: Natasha Odendaal     6th July 2017 Wescoal CFO and executive director Bothwell Mazarura has resigned to join Kumba Iron Ore as CFO and executive director, effective September 1. Mazarura, who has worked at Wescoal since July 2016, holds a Bachelor of Accounting Science Degree from the University of South Africa and is an... 

Mt Gibson cancels another contract

By: Esmarie Swanepoel     6th July 2017 Iron-ore miner Mount Gibson Iron has cancelled another offtake agreement for its Iron Hill mine, in Western Australia, this time with Sinogiant Steel Holdings Group. The ASX-listed company said on Thursday that Sinogiant had failed to comply with a fundamental term under the offtake agreement,... 

UK’s GFG Alliance signs binding deal to buy struggling steelmaker Arrium

By: Esmarie Swanepoel     5th July 2017 London-based GFG Alliance will buy the struggling Arrium steel plant and iron-ore mining operation in Whyalla, South Australia. GFG Alliance, headed by Sanjeev Gupta, on Tuesday submitted a modified offer for the Arrium Australia businesses, prompting the administrators to back the bid, despite... 

UK’s GFG Alliance signs binding deal to buy struggling steelmaker Arrium

Chinese partner helps bring down Central Eyre project cost

By: Esmarie Swanepoel     4th July 2017 Capital costs for the Central Eyre iron project (CEIP), in South Australia, has been slashed by some $295-million, from $4-billion to $3.7-billion. ASX-listed Iron Road told shareholders this week that the company’s partner China Railway Group Limited (CREC) had delivered the capital savings as... 

Fortescue extends Thiess contract at Solomon Hub

By: Esmarie Swanepoel     4th July 2017 Iron-ore miner Fortescue Metals has awarded project house Thiess a A$650-million contract extension at the Solomon Hub, in Western Australia. The contract extension will involve Thiess continuing to deliver mining services at Solomon until 2020, including maintenance of mobile and ancillary... 

Mining Indaba offering new junior zone, boosting interface opportunities 

By: Martin Creamer     4th July 2017 Strong new thrusts are planned for next year’s Investing in African Mining Indaba, which is scheduled to take place at the Cape Town International Convention Centre from February 5 to 8, once again to support investment in mining companies operating in Africa and to provide an effective platform... 

Mining Indaba offering new junior zone, boosting interface opportunities
Investing in African Mining Indaba MD Alex Grose outlines to Mining Weekly Online’s Martin Creamer the major new focus on junior miner involvement. Video and Video Editing: Lionel da Silva.

South Africa’s iron-ore production to stagnate amid ‘unfavourable’ regulatory environment

By: Megan van Wyngaardt     3rd July 2017 An unfavourable regulatory environment is likely to result in South Africa’s iron-ore production stalling at 58-million tonnes a year for the next four years, research firm BMI said on Monday. In an outlook over the sub-Saharan Africa region’s iron-ore sector, BMI noted that the country would be... 

South Africa’s iron-ore production to stagnate amid ‘unfavourable’ regulatory environment

Ferrum Crescent exits South African iron-ore assets to focus on Spanish projects

By: Megan van Wyngaardt     3rd July 2017 European lead-zinc explorer Ferrum Crescent will sell its Mauritian-based subsidiary Batavia, which holds its South African assets. The triple-listed company said the A$1 000 sale to NPSPL Africa Holdings and its Ngwenya Capital black-economic empowerment partner, includes the Moonlight iron-ore... 

Beowulf MD heads to Almaden to push Swedish govt for decision on iron-ore mine

By: Mariaan Webb     30th June 2017 Beowulf Mining MD Kurt Budge said on Friday that he would be attending the politically important Almadalen Week in Visby next week to push the Swedish government for a decision on the Kallak iron-ore project, which has been awaiting approval for nearly three years. This comes as the Aim-listed... 

Beowulf MD heads to Almaden to push Swedish govt for decision on iron-ore mine

BHP and Vale win extra time to settle Samarco claims, restart unlikely this year

By: Mariaan Webb     30th June 2017 A Brazilian court has granted mining companies BHP and Vale an extra four months to negotiate a settlement of civil claims relating to the 2015 Samarco dam disaster. BHP and Vale now have until October 30, to negotiate a settlement of the $47.5-billion and $6.1-billion public civil claims... 

BHP and Vale win extra time to settle Samarco claims, restart unlikely this year

3D printing could improve mining uptime and productivity

By: Mia Breytenbach     30th June 2017 Forward-thinking mining organisations are realising that industrial-scale, three-dimensional (3D) printing of equipment used in mines could make operations more cost effective and reduce the frustrations of equipment downtime, says information technology consultancy and systems integration firm... 

3D printing could improve mining uptime and productivity
Photo by Bloomberg
OPERATIONAL CONTROL By 3D printing the spare parts and replaceable components that complex mine machinery requires, operators can gain greater control over the supply chain

ZIOC encouraged by improved equilibrium in iron-ore market, to enhance Congo project’s investment case

By: Mia Breytenbach     29th June 2017 The global iron-ore industry's performance improved significantly in 2016 from a cost and pricing perspective, providing a much more positive platform going into 2017, Zanaga Iron Ore Company (ZIOC) nonexecutive chairperson Clifford Elphick said on Thursday. Industry operating costs have been... 

Citic Pacific warns A$15.8bn Sino project is in jeopardy

By: Esmarie Swanepoel     29th June 2017 The future of the A$15.8-billion Sino iron project, in Western Australia, could be in jeopardy as the approval of the mine continuation proposal is delayed. China-owned Citic Pacific Mining has said the expansion, which would ensure sufficient space for waste, tailings and stockpile facilities,... 

Low prices strike MinRes bottom line

By: Esmarie Swanepoel     29th June 2017 The continued fall in iron-ore prices has seen ASX-listed Mineral Resources revise its expected earnings for the financial year ended June. The company on Thursday said that expected earnings before interest, taxes, depreciation and amortisation (Ebitda) would range between A$460-million and... 

As nasty quarter ends, iron's reprieve sees futures back in $60s

By: Bloomberg     28th June 2017 After what’s been a tough quarter, iron ore’s getting a small reprieve. Futures clawed their way back above $60 a metric ton and spot prices have rebounded from a one-year low as steel output holds up in China, buoying demand for the material even as its supply rises. The SGX AsiaClear contract... 

India’s Steel Ministry mulls capacity utilisation floor for iron-ore mines

By: Ajoy K Das     28th June 2017 Failing to muster support even within the government to cap the domestic price of iron-ore, India’s Steel Ministry is now mulling a proposal to set minimum capacity utilisation benchmarks for iron-ore mines across the country. Sources in the government say the Steel Ministry aims to focus on the... 

CME finds EPA decision on two new iron-ore mines disappointing

By: Megan van Wyngaardt     28th June 2017 The Western Australian Environmental Protection Authority’s (EPA’s) recommendation against approval of two mid-west banded iron formation (BIF) mines is a disappointing decision, Western Australia Chamber of Minerals and Energy (CME) natural resources manager Kane Moyle said on Wednesday. The EPA... 

Iron-ore outlook cut back by Morgan Stanley over rest of year

By: Bloomberg     27th June 2017 Iron-ore forecasts at Morgan Stanley have been chopped back for the remainder of the year, with the bank flagging prospects for rising low-cost production and the likelihood that the worldwide surplus will increase every year through to 2021. The commodity will average $50 a ton in the third... 

BHP gets ball rolling on new Pilbara iron-ore mine

By: Esmarie Swanepoel     26th June 2017 Mining major BHP has approved a $184-million initial investment into the South Flank iron-ore 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... 

BHP gets ball rolling on new Pilbara iron-ore mine

Mining Charter violates shareholder rights – Hogan Lovells

By: Martin Creamer     23rd June 2017 Mining Charter Three’s arbitrary increase of empowerment shareholding to 30% violates the property rights of shareholders, and the new charter’s requirement to pay 1% of yearly turnover is not expected to survive challenges under the Companies Act and the Constitution. Property rights under the... 

Mining Charter violates shareholder rights – Hogan Lovells
Hogan Lovells partner Wessel Badenhorst

BHP agrees to new assessment in Pilbara

By: Esmarie Swanepoel     23rd June 2017 Diversified major BHP has agreed to a new strategic assessment programme with the federal government that locks in environmental standards and protection measures in the Pilbara. Environment and Energy Minister Josh Frydenberg said on Friday that the programme would protect the unique... 

Multidisciplinary mining company says market is challenging

By: Simone Liedtke     23rd June 2017 With the general depletion of natural sand reserves around South Africa, especially within large cities, multidisciplinary materials openpit mining company Afrimat has invested in sand producing plants – especially in Gauteng – to produce high-quality concrete sands to ensure higher concrete... 

Multidisciplinary mining company says market  is challenging
CHALLENGING CONDITIONS Overall, the construction materials sector remains relatively flat

Top 40 miners returned to profitability in 2016 – PwC

By: Ilan Solomons     23rd June 2017 The world’s top 40 miners recovered from a “race to the bottom”, with bolstered balance sheets and a return to profitability in 2016, giving them much-needed space to pause and take a breath. This is according to advisory firm PwC’s ‘Mine 2017’ report, which was released on the sidelines of the... 

Top 40 miners returned to profitability  in 2016 – PwC
Photo by Duane Daws
IMPROVED BALANCE SHEETS The top 40 miners recorded a net profit of $20-billion in 2016, which was a significant improvement from the aggregate loss of $28-billion recorded in 2015

Carpentaria weighing expanded Hawsons project

By: Esmarie Swanepoel     22nd June 2017 The demand for ASX-listed junior Carpentaria Exploration’s Hawsons supergrade product has significantly increased, with Taiwanese conglomerate Formosa Plastics Group increasing its uptake. Formosa has now increased its nonbinding letter of intent to purchase Hawsons supergrade product from... 

Mining Charter exposing South African economy to GATT angst  

By: Martin Creamer     21st June 2017 The procurement rules of the new Mining Charter may violate South Africa’s obligations under the General Agreement on Tariffs and Trade (GATT), exposing the country to challenges by other member states of the World Trade Organisation (WTO), Herbert Smith Freehills lawyers Peter Leon and Patrick... 

Mining Charter exposing South African economy to GATT angst
Photo by Duane Daws
Herbert Smith Freehills co-chair Peter Leon

Atlas defers 4Mt/y Corunna Downs project

By: Esmarie Swanepoel     21st June 2017 Iron-ore miner Atlas Iron has deferred the development of its Corunna Downs mine, with the miner instead aiming to increase production from the Mt Webber operation. Atlas in February approved the development of the Corunna Downs project, with capital costs estimated at between A$47-million and... 

Atlas defers 4Mt/y Corunna Downs project

Brierty suspends work at Rio's Western Turner Syncline

By: Esmarie Swanepoel     21st June 2017 Contract mining has been suspended at mining major Rio Tinto’s Western Turner Syncline Stage 2 iron-ore project, in the Pilbara. Mining contractor Brierty said on Wednesday that the company had received a notice of default from Rio Tinto, with the diversified miner raising safety concerns. 

Champion seals long-term rail transport pact

By: Henry Lazenby     20th June 2017 Quebec-based project reviver Champion Iron has attained another milestone in its endeavours to restart mining at the high-grade Bloom Lake iron mine, after its subsidiary Quebec Iron Ore (QIO) reached an agreement with the Quebec North Shore and Labrador Railway Company (QNS&L) to transport... 

Sula sees smooth Phase 3 drilling ramp-up at Ferensola

By: Anine Kilian     20th June 2017 Aim-listed Sula Iron & Gold has seen a smooth ramp up into Phase 3 of its 5 000 m drill programme at its Ferensola gold project, in Sierra Leone, with both rigs drilling day and night shifts at the Sanama Hill deposit. The first hole drilled on Sanama Hill is complete and is being logged while... 

Mining Charter set to worsen stakeholder relations – Bench Marks

By: Martin Creamer     20th June 2017 The new Mining Charter is the flawed outcome of inadequate consultation with communities, the board of the Bench Marks Foundation said on Tuesday, when it warned that the document is poised to worsen stakeholder relations. Bench Marks executive director John Capel condemned the new charter as a... 

Mining Charter set to worsen stakeholder relations – Bench Marks
Photo by Reuters
Rt Rev Dr Jo Seoka, chairperson of the Bench Marks Foundation, which has launched a scathing attack on the new Mining Charter.

Iron seen in low-$40s by Citi as supply grows, demand peaks

By: Bloomberg     20th June 2017 Iron-ore may extend a slump into the low-$40s as supplies swell and demand reaches a short-term peak amid steel mill restarts and ramp-ups in China, according to Citigroup, which cut its forecasts by as much as 20% over the next year. The nadir in prices may occur in six to eight months, analysts... 

Busiest project bidding period ever – ELB 

By: Martin Creamer     20th June 2017 Johannesburg Stock Exchange-listed ELB Group is having its busiest project bidding period ever, and is seeing a strengthening in base metals and great opportunities in gold. “In the last six months, we’ve experienced our busiest bidding period ever,” ELB Group CE Dr Stephen Meijers told Mining... 

Busiest project bidding period ever – ELB
Creamer Media is talking to Dr Stephen Meijers, the CEO of The ELB Group, which was established as long ago as 1919 and which continues to be a world-class engineering performer off a strong South African base. Camerawork: Darlene Creamer. Editing: Lionel da Silva.
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