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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... 

Champion ramps up Bloom Lake activity, first train to roll by March

By: Henry Lazenby     30th December 2017 Activities are ramping up at the Bloom Lake mine, in near Fermont, Quebec, with preparations well under way towards the ultimate goal of sending off the first fully laden train of iron-ore by the end of February, or early March. “The highlights have been coming thick and fast this year,” Champion... 

First mover Noront shifts RoF focus to Cu/Zn exploration

By: Henry Lazenby     8th December 2017 With the first commitments in place to build roads into Northern Ontario’s emerging Ring of Fire (RoF) mining camp, regional first mover Noront Resources is taking the opportunity to continue to build out its inventory of polymetallic resources by prioritising copper/zinc targets for exploration... 

Noront hits encouraging VMS mineralisation at McFaulds No 8; requests proposals for plant

By: Henry Lazenby     27th November 2017 Ring of Fire (RoF) development champion Noront Resources has intersected encouraging results at the McFaulds No 8 volcanogenic massive sulphide (VMS) deposit, hosted on the property where the first discoveries in the RoF were made and which spurred the initial staking rush in 2002 to 2003. The... 

Cliffs Natural Resources reverts to original Cleveland-Cliffs name

By: Henry Lazenby     15th August 2017 US iron-ore specialist Cliffs Natural Resources has renamed the company to its historical name Cleveland-Cliffs, as part of celebrating its 170th anniversary, the company announced on Tuesday. Under the name Cleveland-Cliffs, the company has been operating for decades as an important part of the... 

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... 

Cliffs picks Toledo site for first hot briquetted iron plant

By: Henry Lazenby     16th June 2017 US iron-ore producer Cliffs Natural Resources has chosen Toledo, Ohio as the site to develop its first hot briquetted iron (HBI) production plant – a $700-million expansion to Cliffs’ production capabilities targeting the electric arc furnace steel market. Cliffs advised that it is currently in... 

Federal govt invests in mine rehabilitation

By: Esmarie Swanepoel     14th June 2017 The Australian federal government will invest A$4.9-million over the next five years through the Australian Research Council (ARC) to fund a research training centre for mine site restoration in Western Australia. Education and Training Minister Simon Birmingham this week said the new ARC... 

Cliffs starts production of Mustang superflux pellets at United Taconite

By: Henry Lazenby     17th May 2017 US iron-ore producer Cliffs Natural Resources on Tuesday started production of the new Mustang superflux pellet at its United Taconite mine, in Minnesota. The start-up of new production equipment, including supporting infrastructure, occurred on schedule after nine months of construction, and... 

Despite Q1 net loss, iron-ore rebound boosts Cliffs sales

By: Henry Lazenby     27th April 2017 US iron-ore producer Cliffs Natural Resources has reported surging sales for the three months ended March, as improved demand pushed prices higher after years of declines. First quarter sales jumped 51% to $462-million also because of increased sales volumes and seaborne iron-ore prices. Revenue... 

Modest growth forecast for US iron-ore demand

By: Simone Liedtke     17th February 2017 Advisory and consultancy firm the AME group forecasts modest growth in US iron-ore demand over the next three to five years, based on a recovering domestic economy. 

Bloom Lake FS demonstrates financially viable, competitive project

By: Henry Lazenby     16th February 2017 A feasibility study (FS) completed on ASX- and TSX-listed Champion Iron Ore’s Bloom Lake mine, in north-eastern Quebec, has demonstrated a financially viable and competitive project in current global markets. “This is a major result for the company. Based on conservative assumptions, the FS... 

Cliffs' shares rise as it swings to a profit

By: Henry Lazenby     10th February 2017 US iron-ore producer Cliffs Natural Resources has reported a 58.4% increase in fourth-quarter revenue, boosted by rising domestic iron pellet sales. The Cleveland, Ohio-based company reported net income attributable to shareholders of $79.1-million, or $0.34 a share, for the three months to... 

Former Alderon chief executive rejoins board

By: Henry Lazenby     25th January 2017 The former president and CEO of Canadian project developer Alderon Iron Ore, Tayfun Eldem, has rejoined the company’s board with immediate effect, replacing John Baker, who had been with Alderon since 2010. The TSX-listed company stated on Tuesday that Eldem was Alderon's president and CEO until... 

The ‘weird’ commodity that’s hurting bears as prices double

By: Bloomberg     7th December 2016 Iron-ore’s probably heading for a retreat in 2017 as new mine supply comes online and a surplus builds, according to UBS Group, which acknowledged that the commodity’s recent surge was unexpected and had torpedoed an earlier forecast for a slump this quarter. “It’s just surprised me,” Wayne... 

Cliffs removes last obstacle in way to ‘better times’

By: Henry Lazenby     27th October 2016 US-based iron-ore producer Cliffs Natural Resources has repaid its notes due in 2018 during the September quarter, which, combined with a $500-million debt reduction, eliminates the last obstacle in the way of the company's "way to better times”, states president and CEO Laurenco Goncalves.... 

Goldman says ‘size doesn’t matter’ as SGX’s iron holds sway

By: Bloomberg     21st October 2016 In the $7 billion-a-day global iron-ore futures market, size doesn’t matter when it comes to clout. Contracts in Singapore have greater pricing power than those traded in China even though the volumes in the city-state are more than 20 times smaller, according to Goldman Sachs Group Inc. Although... 

Mining Commissioner issues final order on Cliffs' bid over KWG rail claims

By: Henry Lazenby     28th September 2016 The Mining and Lands Commission of Ontario has made a final order, paving the way for an application to the Ontario Ministry of Natural Resources, which was made by Cliffs Natural Resources in early 2012, for the grant of an easement over the claims of KWG subsidiary Canada Chrome Corporation... 

Iron-ore hits the skids as miners, banks wrangle over supply

By: Bloomberg     15th September 2016 After a stellar run in 2016, iron-ore has hit a rough patch. The prospect of a slump below $50 a metric ton is now back in view after the longest losing streak in more than five months as investors, analysts and miners spar over the impact of additional low-cost supply. 

Rinehart’s iron-ore mine won’t reach capacity this year

By: Bloomberg     15th September 2016 Billionaire Gina Rinehart’s iron-ore producer said its mine in Western Australia won’t reach full capacity this year following issues at its port and processing plant. The target of 55-million metric tons a year is now expected to be reached early in 2017, instead of late this year, Roy Hill... 

Noront expands RoF land-holdings, outlines exploration and development strategies

By: Henry Lazenby     26th August 2016 Northern Ontario-focused project developer Noront Resources has increased its position as the dominant land-holder in the prospective Ring of Fire (RoF) mining camp after closing the acquisition of 75% of MacDonald Mines’ claims in the region, the company said this week. Through the transaction,... 

KWG and Chinese engineering group move ahead with RoF rail feasibility study

By: Henry Lazenby     23rd August 2016 Junior exploration firm KWG Resources has appointed a China-based consulting engineering group to undertake a conditional bankable feasibility study (BFS) on a proposed railroad from the mineral properties in Ontario's Ring of Fire (RoF), to a junction with the CN Railroad at Exton, Ontario. KWG... 

Cliffs secures new 20-year energy agreement for core Tilden mine

By: Henry Lazenby     16th August 2016 North American iron-ore products producer Cliffs Natural Resources has secured a new 20-year energy agreement with fellow NYSE-listed WEC Energy Group to provide the company’s core Tilden mine with a long-term, reliable and affordable source of electric power in Michigan. “Our Tilden Mine... 

Important fuel cell data, reckless iron-ore output, Unctad’s false allegations

By: Martin Creamer     5th August 2016 New enlightening information on platinum group metal use in hybrid electric cars; what a mess the giants have made of the iron-ore industry; and Unctad needs to correct its false report on South African underinvoicing. 

Cliffs’ Q2 revenues remain flat y/y

By: Anine Kilian     2nd August 2016 NYSE-listed iron-ore producer Cliffs Natural Resources’ second-quarter consolidated revenues for 2016 remained relatively flat at $496-million, compared with the prior year's second-quarter revenues of $498-million. The company recorded a net income of $30-million from continuing operations for... 

Iron-ore miners shrug off doomsday calls boosted by price rally

By: Bloomberg     2nd August 2016 Any investor who ignored the bearish calls on the iron ore sector would have doubled their money this year just by betting on the shares of the world’s fourth-biggest exporter, Fortescue Metal Group. The gains have been driven by an unexpected price rebound amid rising steel exports and... 

Supply, demand fundamentals remain challenging – Kumba Iron Ore 

By: Martin Creamer     26th July 2016 While iron-ore prices seem to have stabilised, supply and demand fundamentals remain challenging, outgoing Kumba Iron Ore CEO Norman Mbazima said on Tuesday. Speaking at the Anglo American group company's presentation of interim results for the six months to June 30, Mbazima said that the global... 

Anglo American coal bidders said in talks for acquisition loans

By: Bloomberg     22nd July 2016 Bidders for Anglo American’s Australian metallurgical coal assets, including Coronado Coal and AMCI Capital, are in talks with banks for acquisition financing, people with knowledge of the matter said. Coronado and AMCI are competing for Anglo American’s Moranbah and Grosvenor mines with BHP... 

Best metal bond gets even better as Cliffs cashes in on rally

By: Bloomberg     17th June 2016 Cliffs Natural Resources’ borrowing costs fell to the lowest in almost two years as it capitalised on the best stock rally among iron miners to raise money and declared itself out of the woods after a price rout. The Cleveland-based company’s notes due 2018 rallied Thursday, pushing down its... 

Cliffs to restart United Taconite plant 2 months early, lifts guidance

By: Henry Lazenby     9th June 2016 US-focused iron-ore producer Cliffs Natural Resources on Thursday announced that it would be restarting its United Taconite mining facility (UTAC), in Minnesota, two months ahead earlier than previously thought, after it last week announced a ten-year iron-ore pellet supply agreement with... 

Du Plessis stalls iron-ore growth as Rio opts for ‘any-and-all’ debt cutting

By: Martin Creamer     5th May 2016 While South African-born Rio Tinto chairperson Jan du Plessis was vowing not to expand Rio’s iron-ore division beyond 360-million tonnes a year, the globally perceived over-producer of iron-ore was outlining the steps it had taken to cut near-term maturing gross debt by $1.5-billion. Rio said... 

Cliffs rallies as strong Q1 performance sees it back in the black

By: Henry Lazenby     28th April 2016 The largest US iron-ore producer Cliffs Natural Resources rallied as much as 35% to $5.38 a share on the NYSE on Thursday, after swinging to a first-quarter profit amid sustained market improvement. For the three months ended March 31, Cliffs recorded net income attributable to Cliffs' common... 

Low commodity prices changing traditional M&A deal making, as value, volume drop

By: Henry Lazenby     21st March 2016 Low commodity prices are having a big impact on merger and acquisition (M&A) activity, owing to playing such a critical role in determining deal values, professional services firm KPMG partner Jamie Samograd, who focuses on mining in the deal advisory practice, tells Mining Weekly Online.... 

Mine closure option coming to fore as mine sale attempts drag

By: Martin Creamer     10th March 2016 Because most mining majors are steering clear of giving their mining assets away at fire sale prices, the expectation is growing that care-and-maintenance closure options may take centre-stage. As things stand, for-sale notices are ubiquitous, with the likes of Anglo American, Freeport-McMoRan,... 

Champion gets court backing for Bloom Lake buy

By: Esmarie Swanepoel     29th January 2016 The Quebec Superior Court has approved ASX- and TSX-listed Champion Iron’s C$10.5-million buy of the Bloom Lake mine and related rail assets. In December last year, Champion inked an asset purchase agreement with Cliffs Natural Resources to buy the Bloom Lake mine. 

Cliffs Natural Resources reports smaller net loss year-on-year

By: Samantha Herbst     27th January 2016 NYSE-listed iron-ore miner Cliffs Natural Resources has reported a net loss of $748-million for the full-year ended December 31, 2015 – a smaller loss compared with the $8.3-billion net loss recorded in the prior year. The 2015 full-year net loss was attributable to Cliffs’ common shareholders of... 

KWG and Chinese partner ink MoU for design, financing of RoF railroad

By: Henry Lazenby     19th January 2016 Ring of Fire (RoF) development company KWG Resources has signed a memorandum of understanding with China Railway First Survey & Design Institute Group (FSDI) that establishes the terms for mutually proceeding with a feasibility study for the design and financing of a railroad that will link the... 

KWG looks towards the East to finance its proposed Ring of Fire railway

By: Henry Lazenby     9th January 2016 KWG Resources is looking to the Far East to secure funding for its proposed 340 km rail corridor, which the project developer believes holds the key to unlocking the vast mineral wealth of the James Bay Lowlands of Northern Ontario. “The reason KWG is looking to China to fund its proposed railway... 

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