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Ferrous Metals News

European benchmark ferrochrome price remains at $1.14/lb for the fourth quarter

By: Tasneem Bulbulia     18th September 2020 The European benchmark ferrochrome price for the fourth quarter has been settled at $1.14/lb, a rollover from the third quarter, JSE-listed Merafe Resources said on September 18. In July, Mining Weekly reported that the European benchmark ferrochrome price for the third quarter had been settled... 

Iron ore snaps three-day slump as pace of China port inventory growth slows

By: Reuters     18th September 2020 ron-ore futures snapped three sessions of losses on Friday after industry data showed that the pace of portside inventory rise of the steelmaking ingredient in China slowed this week, while benchmark contracts were set for weekly losses. The most-traded January 2021 contract of iron ore on the... 

Iron-ore confronts ‘turning point’ as futures battered yet again

By: Bloomberg     17th September 2020 Iron-ore is taking a beating amid mounting signals the tightness in the seaborne market that hoisted prices to multiyear highs is easing as leading miners boost shipments and stockpiles in China swell. “It’s now a turning point,” said Ban Peng, an analyst at Maike Futures Co. “Recent exports... 

Kallak products will be ‘market leading’, says Beowulf

By: Mariaan Webb     17th September 2020 The Kallak North deposit, which explorer and developer Beowulf Mining has been lobbying Sweden to exploit, has the potential to produce an exceptionally high-grade magnetite concentrate of 71.5% iron content. London-listed Beowulf Mining on Thursday announced findings of an expert market... 

Restoration after 2015 Brazil dam burst behind schedule -UN expert

By: Reuters     17th September 2020 None of 42 projects to repair damage from the 2015 collapse of a Brazilian dam is on track, according to a United Nations expert report published shortly before mining giant BHP hears if it will be pursued through English courts over the disaster. UN Special Rapporteur Baskut Tuncak alleged... 

Vale plans iron-ore capacity jump to 400Mt/y

By: Mariaan Webb     16th September 2020 Brazilian iron-ore giant Vale has detailed plans to increase its production capacity to 400-million tons a year – a substantial improvement on the capacity of its current operating assets. The miner currently has the capacity to produce 318-million tons a year. In 2018, before the Brumadinho dam... 

Vale plans iron-ore capacity jump to 400Mt/y

Fortescue says it won't consider heritage resolution at AGM

By: Reuters     15th September 2020 Fortescue Metals Group said on Tuesday it will not consider a shareholder resolution at its annual general meeting that called on the iron-ore miner to halt activities that could damage Aboriginal cultural heritage sites. The move comes on the heels of growing scrutiny on resource projects in... 

WA govt approves Fenix permits

By: Esmarie Iannucci     15th September 2020 Junior Fenix Resources has secured approvals from the Western Australian Department of Mines, Industry Regulation and Safety for the project management plan and clearing permit for Stage 1 of its Iron Ridge direct shipping ore (DSO) project. Fenix on Tuesday said that the approvals would allow... 

BNDES hires Bradesco to sell 214-million in local debt of miner Vale

By: Reuters     14th September 2020 Brazilian development bank BNDES hired Banco Bradesco BBI SA to coordinate a potential secondary offering of up to 214-million local bonds of miner Vale, it said in a filing on Friday. The sale would be part of Brazil's government efforts to raise cash by reducing its stake in big Brazilian... 

Rio backed CEO after blasts, then watchdog investors revolted

By: Bloomberg     14th September 2020 By the time Rio Tinto Group’s chairman, Simon Thompson, and non-executive directors talked on a late-night conference call Thursday, they’d spent a chastening two weeks in the bull’s-eye of hardening investor attitudes toward social and governance issues. Dozens of meetings with shareholders and... 

Rio backed CEO after blasts, then watchdog investors revolted
Jean-Sebastien Jacques

Rio Tinto may need to tap outsider for new chief 

By: Reuters     11th September 2020 Four years after mining giant Rio Tinto swept out its veteran managers to make way for a new generation of business heads, its leadership team has come unstuck. The world's biggest iron ore miner is looking for a new chief and iron ore boss after they allowed the blasting of ancient Aboriginal... 

Rio Tinto may need to tap outsider for new chief

South Africa's mining output declines 9.1% y/y in July

By: Simone Liedtke     10th September 2020 Mining production decreased by 9.1% year-on-year in July, with the largest negative contributors being other nonmetallic minerals and chromium ore sector. Other non-metallic minerals contributed -2.8 percentage points to the decline with an overall decrease of 44.9% in output, while chromium ore... 

BHP links bonuses to climate plan, sets medium-term targets

By: Mariaan Webb     10th September 2020 Diversified major BHP has set medium-term targets for reducing greenhouse emissions, announcing on Thursday that it would reduce emissions by at least 30% from adjusted 2020 levels by the end of this decade. The group has already established its long-term goal of achieving net zero operational... 

BHP links bonuses to climate plan, sets medium-term targets
BHP CEO Mike Henry

Rio board to debate CEO’s future as pressure mounts over blasts

By: Bloomberg     9th September 2020 Rio Tinto Group’s board will debate the future of CEO Jean-Sebastien Jacques as it faces pressure to respond more strongly to the destruction of ancient Aboriginal heritage sites in Australia, according to people familiar with the matter. Recent talks with shareholders, traditional landowners... 

Rio board to debate CEO’s future as pressure mounts over blasts
Rio Tinto CEO Jean-Sebastien Jacques

Strike granted a mining lease for Paulsens East

By: Esmarie Iannucci     8th September 2020 The Western Australian Department of Mines, Industry, Regulation and Safety has granted ASX-listed Strike Resources a mining lease for its Paulsens East iron-ore project. The mining lease will have an initial term of 21 years. 

Venture's SPP oversubscribed

By: Esmarie Iannucci     8th September 2020 Iron-ore developer Venture Minerals has raised A$2.5-million under an oversubscribed share purchase plan (SPP). Venture had initially sought to raise A$1.5-million under the SPP, but said on Tuesday that total applications received under the SPP had amounted to A$3.6-million. Given the high... 

Merafe swings to near R1bn interim loss

By: Marleny Arnoldi     8th September 2020 JSE-listed ferrochrome producer Merafe says its results for the first half of the year were impacted not only by Covid-19 but an already fragile operating environment. A slowdown in global economic activity has contributed to not only reduced volumes of commodities sold, but also to lower... 

Merafe swings to near R1bn interim loss
Photo by Creamer Media
Merafe's Boshoek operation

Sylvania ups profit in FY20 despite lost output

By: Marleny Arnoldi     7th September 2020 Aim-listed Sylvania Platinum reported a significant increase in revenue, adjusted group earnings and net profit for the financial year ended June 30, despite the Covid-19-related hard lockdown in South Africa in March and April. The company’s Sylvania Dump Operations (SDO), in South Africa’s... 

Iron Ridge development approved

By: Esmarie Iannucci     7th September 2020 The board of ASX-listed Fenix Resources has green-lit the development of the Iron Ridge direct shipping ore (DSO) iron-ore project, in Western Australia. A 2019 feasibility study estimated that the project would produce some 1.25-million tons a year over a six-and-a-half year mine life, and... 

Giyani changes reductant process for Botswana project

By: Simone Liedtke     4th September 2020 TSX-V-listed Giyani Metals Corp has completed a processing trade-off study for its K.Hill manganese project, in Botswana, as part of the ongoing feasibility study. The results from the study, conducted by Tetra Tech, do not materially change the robust project economics outlined in the project’s... 

Magnetite shakes the tin for Razorback

By: Esmarie Iannucci     4th September 2020 ASX-listed Magnetite Mines will raise A$5.65-million through a one-for-four renounceable rights issue, priced at 1c a share. The offer price represented a discount of 29% to the company’s last closing price on August 28, and a 27% discount to its ten-day volume weighted average share price. 

Vale completes first iron-ore sale using blockchain

By: Creamer Media Reporter      4th September 2020 Brazilian iron-ore major Vale has made its first sale using blockchain technology, a move which the company said was an important step towards the digitalisation of the sales and trade process. The sale with Nanjing Iron & Steel Group International Trade, a subsidiary of Nanjing Iron and Steel,... 

Vale completes first iron-ore sale using blockchain
The cargo was shipped from the Teluk Rubiah maritime terminal, in Malaysia, to China.

Brazil prosecutors ask court to remove Vale managers over safety concerns

By: Reuters     4th September 2020 Federal prosecutors in Brazil's Minas Gerais state are seeking a court order for miner Vale to replace executives they accuse of disregarding safety procedures following two deadly mining disasters. They have asked a court in Minas Gerais to name an interventor to take charge of Vale's safety... 

Fortescue gets approvals to increase exports

By: Esmarie Iannucci     4th September 2020 Iron-ore major Fortescue Metals has received approval to increase its material handling capacity at its Herb Elliot port facility from 175-million tonnes a year to 210-million tonnes a year, on a staged basis. The company said on Friday that the revised license uses the capacity at Fortescue’s... 

Challenges remain as industry forges ahead with transformation

By: Mamaili Mamaila     4th September 2020 It is important to acknowledge that the regulatory environment for local mining companies has been instrumental in progressing transformation and inclusion of women in the mining sector, integrated resources business Lurco Group says. 

Challenges remain as industry forges ahead with transformation
Photo by Lurco Group
LEE STOKES It is important for us to note that there still are industry barriers that affect the advancement of women in mining

Tshipi declares R330m interim dividend

By: Tasneem Bulbulia     3rd September 2020 The board of Tshipi é Ntle Manganese Mining has declared a dividend of R330-million for the first half of the 2021 financial year. ASX-listed Jupiter Mines, which holds 49.9% of Tshipi, will receive R156-million of the dividend. It will also recover R25-million in marketing profits. 

Vale receives negative safety report for 3 dams, sees no impact on output

By: Reuters     3rd September 2020 Brazilian miner Vale failed to meet safety standard levels for three dams in Minas Gerais state, the company said in a securities filing on Wednesday, adding it did not see any impact on iron ore production this year. Three dams and three dikes have received negative stability condition... 

South Africa’s green revolution gathering momentum 

2nd September 2020 The Covid-19 pandemic has presented countries around the world with immense challenges, as the impact of the virus has affected every aspect of everyday life as we know it, write Dr Cosmas Chiteme, Dr Rebecca Maserumule and Prof Dmitri Bessarabov. (Chiteme and Maserumule are senior managers at... 

South Africa’s green revolution gathering momentum
Hydrogen fuel and containerised fuel cell installations at One Military Hospital in Pretoria.

Fitch upgrades Brazil's miner Vale, estimates $2bn in dividends

By: Reuters     2nd September 2020 Fitch has upgraded the credit rating of Brazilian miner Vale, saying the iron ore producer has lowered its chances of default after improving dam safety since a deadly disaster in 2019, the rating agency said in a note on Tuesday. The upgrade to "BBB" from "BBB-minus" applies to both foreign and... 

Fitch upgrades Brazil's miner Vale, estimates $2bn in dividends

Nigerian govt pledges support for Kogi’s steel project

By: Marleny Arnoldi     1st September 2020 The Nigerian Ministry of Mines and Steel Development (MMSD) has recognised the effort that ASX-listed Kogi Iron is making to contribute to the diversification of the country’s economy through the proposed Agbaja cast steel project. The company received a formal letter at the end of August from... 

Australia's Fortescue unit enters deal to assess PNG hydro projects

By: Reuters     1st September 2020 Fortescue Metals Group on Tuesday said a unit of the company would work with the Papua New Guinea (PNG) government to assess the feasibility of potential projects to develop hydro-power resources. The deal between Fortescue Future Industries, the PNG government and PNG's wholly owned corporation... 

South Africa must link tax laws to job creation, says ARM’s Motsepe   

By: Martin Creamer     31st August 2020 The private sector worldwide is the engine for job creation, in partnership with trade union organisations, government and communities, and South Africa must link its tax legislation to job creation. That is the view African Rainbow Minerals (ARM) executive chairperson Dr Patrice Motsepe... 

South Africa must link tax laws to job creation, says ARM’s Motsepe
African Rainbow Minerals executive chairperson Dr Patrice Motsepe responds to Mining Weekly’s Martin Creamer on attracting mining investment. Video: Darlene Creamer.

Covid-19 continues to disrupt mining and metals sector

By: Donna Slater     31st August 2020 The mining and metals industry is being deeply impacted by the Covid-19 pandemic, as the situation continues to evolve and the virus spreads throughout the world, reports financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research. The firm notes... 

ARM earnings up, dividend declared 

By: Martin Creamer     31st August 2020 The headline earnings of diversified mining company African Rainbow Minerals (ARM) increased by 6% to R5 534-million for the financial year to June 30. A final dividend of R7 a share is declared, in addition to the interim dividend of R5 a share, taking the total dividend for the 2020 financial... 

ARM earnings up, dividend declared
Photo by Creamer Media
ARM executive chairperson Dr Patrice Motsepe

Fenix and Atlas reach sales agreement

By: Esmarie Iannucci     31st August 2020 ASX-listed Fenix Resources has struck an agreement with Atlas Iron under which Atlas would market 50% of the proposed iron-ore produced at the Iron Ridge project, in Western Australia. Fenix in 2016 acquired the Iron Ridge project from a wholly owned subsidiary of Atlas Iron, with the... 

GWR's C4 gets permission

By: Esmarie Iannucci     28th August 2020 The Western Australian Department of Mines, Energy and Safety has approved ASX-listed GWR’s mining proposal, clearing permits, mine closure and project management plan for its C4 Stage 1 iron-ore project. The C4 project is 1.4km long and contains a combined direct shipping ore (DSO) hematite... 

Merafe expects to report up to 39c loss a share

By: Marleny Arnoldi     28th August 2020 JSE-listed chrome miner Merafe Resources now expects to report a basic loss a share of between 37.6c and 39c for the six months ended June 30. This compares to basic earnings a share of 6.6c apiece reported in the six months ended June 30, 2019.  

Work advances at Riley

By: Esmarie Iannucci     27th August 2020 Dry screening and associated mining operations have started at ASX-listed Venture Minerals’ Riley iron-ore mine, in Tasmaia. Venture earlier this month took a final investment decision on the A$3.6-million Riley project, which is expected to produce around one-million tonnes of 57% iron over a... 

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