R/€ = 19.4438 Change: 0.0153
R/$ = 17.8495 Change: 0.0493
Au 1980.59 $/oz Change: 0.14
Pt 982.26 $/oz Change: 13.67

Ferrous Metals News

Former South African Treasury boss Mogajane helms billion-dollar lithium plan

By: Bloomberg     30th March 2023 The former head of South Africa’s National Treasury has been tasked with cleaning up a scandal-dogged company that’s contemplating partnering a Chinese battery maker in a $1-billion lithium operation. Dondo Mogajane aims to restructure and improve compliance at Johannesburg’s Moti Group. Founder... 

US and EU near critical minerals accord to unlock US subsidies

By: Bloomberg     30th March 2023 The European Union and the US are nearing an agreement on critical minerals that would provide EU companies access to some of the massive green subsidies offered in President Joe Biden’s Inflation Reduction Act (IRA). The deal will likely be similar to an agreement the US signed with Japan this... 

Mining needs truth-and-reconciliation approach to ESG, says Rifle-Shot’s Naidoo  

By: Martin Creamer     29th March 2023 Mining companies need to approach environmental, social and governance (ESG) principles on a truth and reconciliation footing and be honest about where they are on a scale of one to 10, says Rifle-Shot Performance business development director Dilley Naidoo. Naidoo, who spoke to Mining Weekly on... 

Rifle-Shot Performance Business Development Director Dilley Naidoo.
Rifle-Shot’s Dilley Naidoo interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Ironveld FCF buyout now unconditional

By: Creamer Media Reporter      29th March 2023 Aim-listed Ironveld reports that its subsidiary Ironveld Smelting's acquisition of Ferrochrome Furnaces (FCF), in Rustenburg, South Africa, has become unconditional. FCF will, in accordance with the Companies Act of South Africa, be taken out of business rescue in the coming days and the... 

Green energy options weighed at Dolphin

By: Esmarie Iannucci     29th March 2023 Tungsten developer Group 6 Metals has inked a memorandum of understanding (MoU) with green energy developer Fortescue Future Industries (FFI) to explore the use of renewable energy, heat energy and hydrogen at the Dolphin tungsten mine, in Tasmania. Under the terms of the MoU, FFI will prepare... 

Mining necessary for green future - Minister

By: Esmarie Iannucci     29th March 2023 Federal Resources Minister Madeleine King has highlighted the significant role that the resources sector would play in global decarbonisation efforts, in a statement to Parliament. “In order to decarbonise, the world needs our resources industry and our critical minerals,” Minister King said. 

Image shows a mining haul truck

Platinum group metals can add million South African jobs plus R8-trillion to economy  

By: Martin Creamer     28th March 2023 Collaborative marketing of platinum group metals (PGMs) has the potential to add a million more South African jobs and contribute R8-trillion more to the economy as the world greens and lowers carbon intensity. The combination of green hydrogen displacing natural gas and fuel cell electric... 

Platinum group metals can boost South African jobs and economic growth.
PGM Industry Day covered by Mining Weekly’s Martin Creamer. Video editing: Darlene Creamer.

More delays at Iron Bridge

By: Esmarie Iannucci     28th March 2023 Iron-ore major Fortescue Metals has again pushed back the start date for its Iron Bridge magnetite mine, in the Pilbara, this time from the March quarter to the second half of April. Fortescue last year flagged a cost blow-out and production start delay at Iron Bridge, after upwardly revising... 

Safeguard Mechanism changes concerning miners

By: Esmarie Iannucci     28th March 2023 The resources sector has expressed concerns over changes to the Safeguard Mechanism, warning that it would impact operations in Australia. The federal government this week struck an agreement with the Australian Greens to support the Safeguard Mechanism reforms through Parliament, in an effort... 

Image shows coal stacks and loaders

South Africa will overcome its rail and electricity problems, Menar MD predicts  

By: Martin Creamer     27th March 2023 At the end of the day, South Africa will overcome its rail transport and electricity availability issues, and confidence in both Transnet and Eskom will be fully restored, Menar MD Vuslat Bayoglu predicts. “I’m confident that Transnet’s problems will be solved because South Africa’s got great... 

Menar MD Vuslat Bayoglu.
Menar MD Vuslat Bayoglu speaks to Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Cape Main line freight rail operations halted after heavy rains damage infrastructure

By: Schalk Burger     27th March 2023 State-owned Transnet Freight Rail (TFR) says the Cape Corridor has suspended all train operations on the Cape Main line owing to washaways caused by heavy rains on the evening of March 24. The rail formation was damaged in two sections on the single line between Beaufort West and Worcester,... 

TFR says will act swiftly if unscheduled ghost train allegations are true

By: Schalk Burger     27th March 2023 State-owned rail network operator Transnet Freight Rail (TFR) says it has referred allegations that trains that are not formally scheduled by it are operating on its lines for independent investigation and, if they are proven correct, TFR will act swiftly. "These serious allegations have not yet... 

Tharisa secures $130m offtake-based financing

By: Creamer Media Reporter      27th March 2023 Platinum group metals and chrome producer Tharisa has, subject to the fulfilment of certain conditions precedent, concluded a $130-million debt facility with Société Générale and Absa Bank, acting through its Corporate & Investment Banking division, as part of the company's ongoing debt capital... 

BHP strikes CCUS deal in China

By: Esmarie Iannucci     27th March 2023 Diversified major BHP has struck a deal with Chinese steelmaker HBIS Group Co to trial pilot-scale demonstrations of carbon capture and utilisation technologies at HBIS’ steel operations in China The trial will develop and test technologies that can be integrated into steel production processes... 

Mt Carbine leases extended

By: Esmarie Iannucci     24th March 2023 The mining leases for the Mt Carbine project, in Queensland, have been renewed for a further 19 years, tungsten producer EQ Resources said. The company told shareholders that the renewal of the two mining leases were core to the company’s plans to expand its tungsten mining base. 

WA opens investment platform for global investors

By: Esmarie Iannucci     24th March 2023 The Western Australian government is launching a new online platform that promotes investment-ready projects with a value above A$10-million. Launching with more than 35 projects that have a combined value of approximately $6 billion, WA Investments provides global audiences easy access to the... 

BHP and Hatch team up on green steel

By: Esmarie Iannucci     23rd March 2023 Diversified miner BHP has partnered with global engineering firm Hatch to design an electric smelting furnace pilot (ESF) plant in support of a decision to construct this facility in Australia. The facility will aim to demonstrate a pathway to lower carbon dioxide (CO2) intensity in steel... 

Image shows BHP iron-ore operations

Consortium to develop green corridor for shipping South African iron to Europe 

By: Darren Parker     22nd March 2023 A new consortium is set to explore the options for developing a maritime green corridor for the zero-emission shipping of iron-ore between South Africa and Europe, the Global Maritime Forum (GMF) announced on March 22. This initiative is the first of its kind from Africa and is a step forwards in... 

The Saldanha Bay iron-ore terminal
The Saldanha Bay iron-ore terminal

Safety environment that almost guarantees that people come first is a must, says Naidoo  

By: Martin Creamer     20th March 2023 Mine safety is absolutely essential. Stopping injury and fatality in mines just has to happen. How can South Africa achieve the zero harm that is needed? This was Mining Weekly’s opening question to Dilley Naidoo, the director of business development at Rifle-Shot Performance. (Also watch... 

Mining is striving for zero harm.
Rifle-Shot Performance's Dilley Naidoo interviewed by Mining Weekly's Martin Creamer. Video and Video Editing: Darlene Creamer.

Merafe seeks to shield business from electricity price hikes  

By: Darren Parker     20th March 2023 Ferrochrome company Merafe is considering proposals for the construction of renewable energy facilities and is in discussions with power utility Eskom to secure a negotiated pricing agreement (NPA) to mitigate against unsustainable high electricity costs, the JSE-listed company reported on... 

Merafe Ferrochrome Smelting

Reserve and outlook improves at Razorback

By: Esmarie Iannucci     20th March 2023 ASX-listed Magnetite Mines has reported a 340% increase in the ore reserves for its Razorback iron project, in South Australia, as well as the results of an optimisation study which identified the optimum development pathway. Magnetite Mines on Monday said that the best-case project... 

China to look at measures to curb 'unreasonable' iron-ore prices

By: Reuters     17th March 2023 China's state planner said on Friday it will look at measures to curb "unreasonable" iron ore prices, the latest in a series of warnings to the market to try to cool surging prices. The price monitoring centre of China's National Development and Reform Commission (NDRC)recently visited Qingdao... 

Transnet to implement contingency plans to mitigate against planned protest

By: Tasneem Bulbulia     17th March 2023 Rail, port and pipeline company Transnet says it is working with stakeholders to implement contingency plans, where necessary, to ensure business continuity in light of the Economic Freedom Fighters' planned protest action on March 20.  The plans will take into consideration operational demands... 

In a first, Brazil's Vale scrubs coal from iron-ore pellets

By: Reuters     16th March 2023 Brazilian miner Vale produced iron-ore pellets on an industrial scale for the first time without adding coal, company executives told Reuters on Wednesday, in a major step toward reducing the company's carbon footprint. In pellet production, coal is usually mixed with iron ore before being... 

BHP potentially faces $44bn bill in Brazil dam case

By: Reuters     16th March 2023 Mining group BHP Group is potentially facing a £36-billion ($44-billion) lawsuit in London over Brazil's worst environmental disaster after the number of claimants more than tripled to 700 000, their lawyers said on Wednesday. BHP was initially sued by around 200 000 Brazilians over the 2015... 

Devastation left in the wake of a tailings dam burst in Mariana, Brazil
Photo by Reuters
Devastation left in the wake of a tailings dam burst in Mariana, Brazil

Equatorial Resources makes $1.1bn claim against Congo

By: Esmarie Iannucci     16th March 2023 ASX-listed Equatorial Resources has launched a $1.1-billion compensation claim against the Republic of Congo, claiming that the government of that country had taken unlawful measures against the company. Equatorial previously referred its investment dispute with Congo to arbitration at the... 

Côte d'Ivoire's 2022 gold output up 14% to record high

By: Reuters     15th March 2023 Côte d'Ivoire produced a record high of about 48 tonnes of gold in 2022, up 14% from the previous year, a document from the Ministry of Mines, Petrol and Energy showed. Côte d'Ivoire, the world's top cocoa producer, is seeking to develop its long-neglected mining sector to diversify its revenue. 

European benchmark price for ferrochrome set for Q2

By: Tasneem Bulbulia     15th March 2023 JSE-listed Merafe Resources advises that the European benchmark ferrochrome price for the second quarter of the year has been settled at $172/lb, an increase of 15.4% compared with the previous quarter. Merafe’s business has a 20.5% participation through its wholly-owned subsidiary, Merafe... 

Ferrexpo's profit drops as Ukraine crisis hits output, raises costs

By: Reuters     15th March 2023 Ferrexpo reported a slump in its full-year profit on Wednesday, as the Ukraine-focused miner took a hit from higher costs and lower production volumes. Ferrexpo, the world's third-largest exporter of iron-ore pellets, has all its operations in Ukraine, and has been facing disruptions due to the... 

Ferrexpo's profit drops as Ukraine crisis hits output, raises costs

Banking has crucial role to play in enabling mining to transition to clean energy, says Nedbank CIB 

By: Martin Creamer     14th March 2023 The banking sector has a crucial role to play in enabling mining companies to transition to clean energy fully, says Nedbank Corporate and Investment Banking (CIB) principal for sustainable finance solutions Telvina Naidoo. “Innovative funding structures and sustainable-finance solutions can help... 

Nedbank Corporate and Investment Banking (CIB) principal for sustainable finance solutions Telvina Naidoo.
Nedbank Corporate and Investment Banking (CIB) principal for sustainable finance solutions Telvina Naidoo.

Mining output declined for a twelfth consecutive month in January

By: Creamer Media Reporter      14th March 2023 Mining production experienced its twelfth consecutive month of year-on-year decline in January, recording a decrease of 1.9%, Statistics South Africa reports. The largest negative contributors were platinum group metals (PGMs), with output 15.2% lower year-on-year and contributing -3.5 percentage... 

Rough diamonds mined in South Africa

Atlas awards mining contract for McPhee Creek

By: Esmarie Iannucci     14th March 2023 Iron-ore miner has awarded mining contractor MACA a three-year mining contract at its McPhee Creek project, in the Pilbara. Atlas had previously indicated that a final investment decision on the mine was due by mid-2023. 

Work set to resume at Simandou iron ore after Guinea, shareholders agree terms

By: Reuters     14th March 2023 Guinean authorities and shareholders have agreed on the terms of a joint venture to mine Simandou, one of the world's largest deposits of iron-ore, paving the way for work to resume this month, the presidency said on Monday. Guinea's transitional government ordered work to stop last July to try... 

Re-pursue exploration to help re-build South Africa’s economy, says business booster   

By: Martin Creamer     13th March 2023 Let us re-pursue the exploration investment that catalysed South Africa’s economic growth more than a century ago as a means of helping to rebuild South Africa’s struggling economy. That is among the ardent messages put over by mining sector performance enhancer Dilley Naidoo, the the director of... 

Dilley Naidoo, Director of Business Development, Rifle-Shot Performance.
Rifle-Shot Performance's Dilley Naidoo interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Tsodilo to argue legal case against Botswana Ministry on April 18

By: Marleny Arnoldi     13th March 2023 International diamond and metals exploration company Tsodilo Resources has advised that its litigation against the Botswana government is progressing well, having filed its latest documents in court on March 10, and with the court date set for April 18. The matter relates to a delayed... 

China tells iron-ore traders to stop hoarding after rally

By: Bloomberg     10th March 2023 China is taking fresh measures to deter hoarding of iron-ore in a bid to cool a surge in prices of the key steel-making material. Beijing authorities are urging trading companies that store iron ore in big volumes at ports to sell some of their material, according to people with knowledge of the... 

Australia's Fortescue Metals begins to trim 'few hundred' jobs - source

By: Reuters     10th March 2023 Australia's Fortescue Metals Group is cutting a few hundred jobs as part of its efforts to maintain cost position, a person familiar with the matter told Reuters on Friday. Local media reported Fortescue, the world's no.4 iron ore miner, had started laying off more than 100 workers as its 'Iron... 

Climate Council calls for green steel incentives

By: Esmarie Iannucci     9th March 2023 Australia’s Climate Council has called on the federal government to deliver strong policy and incentives to drive the transformation of industry, noting that the production of green metals in the region could be the country’s largest economic opportunity in the global shift towards net-zero... 

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