R/€ = 18.3034 Change: 0.0019
R/$ = 17.3544 Change: 0.1768
Au 1797.30 $/oz Change: 0.00
Pt 1028.50 $/oz Change: 0.00

Ferrous Metals News

World’s rapid rate of change resulting in profound business disruptions, says Anglo CEO  

By: Martin Creamer     9th December 2022 The world changing at a rapid rate has resulted in profound disruptions to the business of Anglo American, CEO Duncan Wanblad told analysts and investors on Friday. Speaking during an update presentation covered by Mining Weekly, Wanblad said the London- and Johannesburg-listed diversified mining... 

Iron-ore climbs to four-month high on optimism over China policy

By: Bloomberg     9th December 2022 Iron-ore rose to its highest in four months on news that Chinese authorities may further soften their stance on property policies at a key meeting next week. Futures advanced in Singapore, extending a rally from a 45-month low at the end of October to almost 50%. The steelmaking ingredient has... 

Kumba lowers production guidance on the back of rail constraints

By: Tasneem Bulbulia     9th December 2022 Iron-ore miner Kumba Iron Ore has lowered its production guidance for this year to 37-million tonnes, from the 38-million to 40-million tonnes previously guided. CE Mpumi Zikalala says rail constraints throughout the year have led to a significant build-up of iron-ore stockpiles at the company’s... 

Kumba CEO Mpumi Zikalala
Kumba CEO Mpumi Zikalala

Ironveld on track with FCF acquisition, smelter startup progressing ahead of schedule

By: Tasneem Bulbulia     9th December 2022 Aim-listed Ironveld says the acquisition of Ferrochrome Furnaces (FCF) remains subject to the satisfaction of certain conditions, which are progressing well and relate to finalisation of particular documentation. The company says it is confident that the transaction will complete shortly and that... 

Extortion ‘mafia’ hits South Africa’s $55bn mining sector

By: Bloomberg     9th December 2022 A threatening letter, a derailed train, blocked roads, burned vehicles, workers locked up. That’s what some of the world’s biggest mining companies say they’re battling in South Africa: Extortion. Covid plunged Africa’s most-industrialized country – home to the biggest deposits of metals ranging... 

A machine on site at a mining operation

Glencore working on value accretive emission reduction 

By: Martin Creamer     8th December 2022 Over and above the carbon emission reduction that automatically results from declining coal assets, diversified mining and marketing company Glencore is working on reducing its Scope 1 and 2 emissions across its entire portfolio of assets in a manner that is largely value accretive or cost free.... 

Glencore industrial assets head Peter Freyberg.
Glencore industrial assets head Peter Freyberg.

Vale forsakes volume for value in boost to iron-ore's nascent price recovery

By: Bloomberg     8th December 2022 Vale is abandoning plans to get back to iron ore production levels prior to a 2019 waste disaster, offering supply-side support to the global market just as Chinese demand picks up. The Brazilian mining giant has been slowly ramping back up after losing its mantle as the world’s biggest producer... 

Vale forsakes volume for value in boost to iron-ore's nascent price recovery

Anglo invests $200m to accelerate zero emissions haulage solution 

By: Martin Creamer     7th December 2022 Diversified mining company Anglo American has signed a binding agreement with First Mode, the specialist engineering technology company it partnered to develop the nuGenTM technology. The agreement is intended to accelerate the commercialisation of the climate-friendly truck and includes Anglo... 

TFR to increase emerging manganese miners’ rail allocation to 4Mt/y

By: Donna Slater     6th December 2022 State-owned Transnet Freight Rail (TFR) says it is easing the requirements for emerging manganese miners to transport their ore and products to the ports of Gqeberha and Saldanha, starting with new contracting and capacity allocation processes in an effort to avail capacity allocation. With a... 

Rio, Oz Minerals and Boliden partner on tailings

By: Esmarie Iannucci     6th December 2022 Diversified miner Rio Tinto, copper miner Oz Minerals and Swedish metals major Boliden will partner on an initiative to manage tailings. Under the umbrella of the Think & Act Differently (TAD) incubator initiative the three companies will fund and support innovators who are working to reimagine... 

Tharisa delivers its strongest financial results yet

By: Darren Parker     5th December 2022 Despite the macroeconomic challenges that have impacted global supply chains, inflation, and the mining sector, platinum group metals (PGMs) and chrome mining company Tharisa’s operational performance and sales, into what it views as a continued strong commodity price environment, has resulted in... 

Tharisa CEO Phoevus Pouroulis
Tharisa CEO Phoevus Pouroulis

Tsodilo launches online landing pages to update market on Xaudum licence litigation

By: Donna Slater     2nd December 2022 As a result of “overwhelming” interest in diamond and metals explorer Tsodilo Resources’ legal action against the Botswana Ministry of Minerals & Energy (MME), the former has established landing pages on its website that it says are regularly updated to include all records related to the... 

Transport Forum highlights need for multimodal logistics to remain competitive

By: Schalk Burger     2nd December 2022 Freight, logistics and transport industry experts have called for the restoration of South Africa's roads network, the restoration and development of the rail network and efficient ports and border posts, arguing that the country can only remain competitive if its logistics networks and supply... 

Railway tracks

Magnetite Mines fields interest in Razorback

By: Esmarie Iannucci     2nd December 2022 ASX-listed Magnetite Mines on Friday denied reports that it had launched a formal partnering or sales process for any of its assets, including its flagship Razorback iron-ore project, in South Australia. The company told shareholders that it had received interest in the project from a range of... 

Exxaro believes Europe will continue demand for South African coal next year

By: Darren Parker     1st December 2022 Diversified company Exxaro Resources expects heightened European interest in South African thermal coal to continue well into next year as Europe continues to seek independence from Russian energy sources. Moreoever, South African thermal coal exports into markets for high-calorific coal, such as... 

coal barges exports

Rio Tinto 2023 iron-ore shipments seen in line with 2022 view

By: Reuters     30th November 2022 Global miner Rio Tinto said on Wednesday its iron ore shipments in 2023 would be in the same range as this year's forecast, and warned costs would be higher. The Anglo-Australian miner expects to ship between 320-million tonnes and 335-million tonnes of the steel-making ingredient next year. It... 

Strong call for rapid green hydrogen investment by ramp-up backer 

By: Martin Creamer     30th November 2022 A strong call for final investment decisions (FIDs) on a multiplicity of green hydrogen projects was made at the South Africa Green Hydrogen Summit in Cape Town yesterday by H2Global, a market ramp-up instrument that serves as an innovative form of subsidy scheme to smooth out bumps along green... 

Taking part in the South Africa Green Hydrogen Summit panel discussion are (from left to right) facilitator Lorato Tshenkeng, Timo Bollerhey, Till Mansmann, Sasol’s Gosiame Khoele, and Tobias Bischof-Niemz.
Photo by Creamer Media
Taking part in the South Africa Green Hydrogen Summit panel discussion are (from left to right) facilitator Lorato Tshenkeng, Timo Bollerhey, Till Mansmann, Sasol’s Gosiame Khoele, and Tobias Bischof-Niemz.

Hancock reports A$5.8bn profits

By: Esmarie Iannucci     30th November 2022 Unlisted iron-ore major Hancock Prospecting has reported a A$5.8-billion net profit after tax for the 2022 financial year. Net profits after tax for the 2022 financial year compared with the A$7.3-billion reported in 2021 and the A$40.7-billion in 2020. 

Rio invests further in renewable energy

By: Esmarie Iannucci     30th November 2022 Diversified major Rio Tinto will invest a further A$600-million million in renewable energy assets in the Pilbara as part of its efforts to decarbonise its Western Australian iron-ore operations. The investment will fund the construction of two 100 MW solar power facilities as well as 200 MWh... 

Image shows solar panels

Fortescue appoints Woodside heavyweight as CEO

By: Esmarie Iannucci     29th November 2022 Iron-ore major Fortescue Metals has appointed oil and gas major Woodside’s executive VP for Australian operations, Fiona Hick, as its new CEO effective from February next year. Woodside on Tuesday announced the resignation of Hick, with CEO Meg O’Neill praising her ‘significant contributions’ to... 

R4-trillion needed for South Africa’s hydrogen economy, PIC declares 

By: Martin Creamer     28th November 2022 South Africa’s State-owned Public Investment Corporation (PIC) stated on Monday that more than R4.3-trillion is required for the development of the hydrogen economy, which it declared positive for people, planet, and client portfolios. The hydrogen investment strategy of the PIC, which has... 

Hydrogen promises to be the next frontier in clean energy technology due to its extensive value chain applications.
Photo by Siemens
Hydrogen promises to be the next frontier in clean energy technology due to its extensive value chain applications.

Transnet auction fails to attract private sector

By: News24Wire      28th November 2022 On Friday, Transnet Freight Rail (TFR) announced that only two companies had participated in its much-anticipated auction of slots to private players, the company's first foray into allowing private participation on the rail network.  The only bid made for the Cape Corridor's Kroonstad to East... 

A photo of railway tracks

Group 6 Metals raises cash to fund Dolphin production

By: Esmarie Iannucci     28th November 2022 Tungsten developer Group 6 Metals will raise A$20-million through a share placement o bring its Dolphin tungsten mine, in Tasmania, into production. The ASX-listed company has received binding commitments for the issue of more than 117.6-million shares, at a price of 17c each, representing a... 

South Africa’s mining market is dynamic and fast-moving, Siemens Large Drives finds  

By: Martin Creamer     25th November 2022 South Africa is a super dynamic and super fast-moving market, says Siemens Large Drives global solutions head Oliver Beck, who has just completed a week of discussions with customers to highlight sustainability solutions for mining. From his perspective, South African mining economy is at the... 

Siemens Large Drives global solutions head Oliver Beck.
Siemens Large Drives' Oliver Beck, Tim Walwyn talk to Mining Weekly's Martin Creamer. Video: Nicholas Boyd, Shadwyn Dickinson. Video Editing: Darlene Creamer. Pictures: Donna Slater.

TFR concludes ten-day maintenance programme on Sishen-Saldanha line

By: Marleny Arnoldi     25th November 2022 Rail operator Transnet Freight Rail (TFR) has successfully completed a ten-day maintenance plan on its Sishen-Saldanha iron-ore corridor. The maintenance involved electrical, perway and technical support works from November 8 to 17, where the main deliverable was to restore the rail network to... 

UK, South Africa to establish Partnership on Minerals for Future Clean Energy Technologies

By: Schalk Burger     24th November 2022 UK Foreign Secretary James Cleverly announced this week that the UK and South Africa were establishing a new Partnership on Minerals for Future Clean Energy Technologies to promote increased responsible exploration, production and processing of minerals in South Africa and Southern Africa.... 

South Africa’s crime crisis ruling out economic growth, sustainability discussion hears 

By: Martin Creamer     23rd November 2022 South Africa’s economic paradox is that it cannot grow economically if it has a burgeoning crime crisis but it is unable to solve the burgeoning crime crisis if it is not growing. That was the opening comment of outgoing Mineral Council South Africa CEO Roger Baxter, who anchored the second of... 

Roger Baxter.
Roger Baxter.

ZIOC proposes acquiring Glencore’s shareholding in Zanaga

By: Tasneem Bulbulia     23rd November 2022 Aim-listed Zanaga Iron Ore Company (ZIOC) has reached an agreement with Glencore subsidiary, Glencore Projects, for the acquisition of its controlling shareholding in the Zanaga iron-ore project, in Congo-Brazzaville. This is through the purchase of Glencore Projects’ 50% plus one share interest... 

Rio proves low-carbon iron-making process

By: Esmarie Iannucci     23rd November 2022 Diversified miner Rio Tinto this week said that it has proven the effectiveness of its low-carbon iron-making process using ores from its mines in Australia in a small-scale pilot plant in Germany. The company is now planning the development of a larger-scale pilot plant to further assess its... 

Groundbreaking for R1bn fuel cell factory set for first quarter of 2023 

By: Martin Creamer     22nd November 2022 A bankable feasibility study has opened the way for the building of a factory for the local manufacture of fuel cells that are designed to provide low-carbon electricity to decentralised users at affordable prices throughout the African continent. Innovative South African Mitochondria Energy... 

Mitochondria founder and CEO Mashudu Ramano (right) interviewed by Martin Creamer (left).
Photo by Creamer Media
Mitochondria founder and CEO Mashudu Ramano (right) interviewed by Martin Creamer (left).

Platinum moving into meaningful deficit amid emergent source of new end-demand 

By: Martin Creamer     22nd November 2022 Platinum is moving into meaningful deficit amid an emergent source of new end-demand in the form of green hydrogen. The 2022 surplus of 804 000 oz is projected to move into a deficit of 303 000 oz in 2023, according to the Platinum Quarterly of the World Platinum Investment Council (WPIC) for the... 

World Platinum Investment Council director of research Edward Sterck.
World Platinum Investment Council Director of Research Edward Sterck interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

India scraps export tax on low-grade iron-ore, some steel intermediates

By: Reuters     21st November 2022 India scrapped export taxes on low-grade iron-ore and on some intermediate steel products beginning Saturday, after months of complaints from miners and steel makers about loss of foreign sales opportunities. The move, set out in a notification issued late on Friday, reverses the imposition in... 

India scraps export tax on low-grade iron-ore, some steel intermediates

Union ‘deeply disappointed’ with federal rejection of Baffinland expansion

By: Mariaan Webb     21st November 2022 The union representing about 1 000 employees at the Mary River mine on Baffin Island, Nunavut, has expressed its “deep disappointment” with the federal government’s rejection of an expansion proposal for the mine. The International Union of Operating Engineers, Local 739, business manager Mike... 

Minister cans Mary River mine expansion

By: Mariaan Webb     18th November 2022 Iron-ore mining company Baffinland Iron Mines CEO Brian Penney on Thursday expressed the company’s disappointment by Northern Affairs Minister Dan Vandal’s rejection of the Phase 2 expansion of the Mary River mine, in Nunavut. His comments followed the federal government’s decision on Wednesday... 

Minister cans Mary River mine expansion

AI improves productivity

By: Leah Shelene Asaram     18th November 2022 The iron-ore mining sector continues to develop and enhance its productivity by introducing various types of sensors and information-capturing devices throughout the value chain to reduce production time and ensure fewer project interruptions. The devices achieve these goals using artificial... 

An image of Stone Three’s team observing the PSA
Photo by Stone Three
DETECT AND EXTRACT The particle size analyser can be used to prevent the truck from tipping, in the event of oversize material, or to examine the mining performance

Insufficient capacity impedes sustainability

By: Leah Shelene Asaram     18th November 2022 The future of iron-ore as a commodity remains good, as demand should stay relatively stable, but for junior and midtier miners the future appears limited, owing to the lack of logistics capacity to export iron-ore via the current iron export channel, says JSE-listed mining and materials company... 

An image of Afrimat’s Demaneng mine
Photo by Afrimat
IRONS IN THE FIRE Afrimat selectively acquires Junior miners’ product to improve its product quality and volume when needed

Australian iron-ore magnate commits $500m for Ukrainian reconstruction fund

By: Reuters     17th November 2022 Australian iron-ore magnate Andrew Forrest announced on Thursday a $500-million commitment towards the launch of a $25-billion international investment fund designed to help Ukraine rebuild after Russia's invasion. The Ukraine Green Growth Initiative will focus on building out infrastructure... 

Image shows a smiling Andrew Forrest

Top green hydrogen/fuel cell collaboration boost for platinum-group metals 

By: Martin Creamer     16th November 2022 A joint development agreement struck between global majors Nel Hydrogen US and General Motors is expected to speed up the development of green hydrogen technology that is competitive with fossil fuels.  The aim of agreement is to help accelerate the industrialisation of Nel’s proton exchange... 

Green hydrogen and fuel cell collaboration announced by Nel and General Motors of the US.
Green hydrogen and fuel cell collaboration announced by Nel and General Motors of the US.
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