R/€ = 17.33 Change: 0.04
R/$ = 14.56 Change: 0.01
Au 1728.06 $/oz Change: -11.52
Pt 1173.50 $/oz Change: -14.50

Ferrous Metals News

Good vibrations for the year ahead

By: Darren Parker     29th January 2021 Vibrating original-equipment manufacturer (OEM) Kwatani’s capital project pipeline is “exceptionally strong against the back-end of weak markets”, which Kwatani CEO Kim Schoepflin says is a result of time spent actively working with mining and project houses during the worst of the pandemic. For... 

Contractor learns lockdown lessons

By: Darren Parker     29th January 2021 The main lesson learned over the past year is that, regardless of the challenges and new limitations brought about by the Covid-19 pandemic, good relationships are key to keeping businesses well-enthused and optimistic, says mining services company Basil Read Mining CEO Nathan Williams. “Even... 

Contractor learns lockdown lessons
BIG PLANS Basil Read Mining aims to diversify beyond the commodities it currently works in, while expanding its geographical footprint

Anglo reports strong fourth-quarter performance at Los Bronces, Minas-Rio

By: Creamer Media Reporter      28th January 2021 The strong performance recovery in the second half of 2020 continued in the fourth quarter of the year, says diversified miner Anglo American CEO Mark Cutifani.  "As expected, second-half production returned to 95% of 2019 rates, benefiting from strong performances in copper at Los Bronces, in... 

Anglo reports strong fourth-quarter performance at Los Bronces, Minas-Rio
Mark Cutifani

Champion Iron to revise Kami feasibility study

By: Mariaan Webb     28th January 2021 Dual-listed Champion Iron will be reviewing and revising the feasibility study of the recently acquired Kami project, which is located only a few kilometers south-east of its current Bloom Lake operations. The revision of the Kami feasibility study will seek to strategically position Champion... 

Champion Iron to revise Kami feasibility study
Champion Iron in November acquired the Kami project, located in the Labrador Trough of Newfoundland.

Kumba to report higher full-year earnings despite lower production, sales

By: Creamer Media Reporter      28th January 2021 Iron-ore miner Kumba Iron Ore expects to report headline earnings of between R21.83-billion and R23.43-billion and headline earnings per share (HEPS) of between R68.07 and R73.06 for the year ended December 31. That represents an increase of between 34% and 44% on the headline earnings of... 

Kumba to report higher full-year earnings despite lower production, sales

Fortescue posts record shipments

By: Esmarie Iannucci     28th January 2021 Iron-ore miner Fortescue Metals has reported record shipments for the half-year ended December, and has celebrated first ore at its new Eliwana mine, in the Pilbara, during December. Iron-ore shipments in the December quarter reached 46.4-million tonnes, contributing to a record 90.7-million... 

Fortescue posts record shipments

Four mining companies adopt Mining Local Procurement Reporting Mechanism

By: Donna Slater     27th January 2021 Mining Shared Value (MSV), a nonprofit initiative of Engineers Without Borders Canada, reports that four mining companies have, so far, adopted the Mining Local Procurement Reporting Mechanism (LPRM), with two more confirming their plans to do so shortly. Ivanhoe Mines became the first company... 

China industry body sees steel demand rising in 2021, seeks to secure raw material supply

By: Reuters     27th January 2021 China's steel demand will increase slightly in 2021, supported by stable macroeconomic policies, the steel association said on Wednesday, even as the government has urged companies to produce less steel this year. Economic policies that China adopted to cope with the Covid-19 pandemic will shore... 

China industry body sees steel demand rising in 2021, seeks to secure raw material supply

Liberia sees $800m ArcelorMittal investment this year

By: Bloomberg     26th January 2021 Liberia’s government expects talks with ArcelorMittal to yield an agreement to invest $800-million in the West African nation, President George Weah said. Talks with the steelmaker about amending a so-called Mineral Development Agreement have made “significant progress,” Weah said in an address... 

Liberia sees $800m ArcelorMittal investment this year

Eastplats raises C$11.7m to complete projects, grow revenue potential

By: Simone Liedtke     25th January 2021 Dual-listed Eastern Platinum (Eastplats) has issued 36.8-million common shares to raise about C$11.7-million. Net proceeds from the rights offering will be used to complete various projects and grow Eastplats’ revenue potential. 

Mining tycoon Steinmetz sentenced to 5 years in jail in bribery case

By: Bloomberg     25th January 2021 Israeli diamond and mining tycoon Beny Steinmetz was found guilty of bribing a public official to secure an iron-ore mine in Guinea worth billions of dollars. Steinmetz was sentenced to five years by Judge Alexandra Banna in a Geneva court Friday. He was partially acquitted on forgery charges in... 

Mining tycoon Steinmetz sentenced to 5 years in jail in bribery case
Diamond and mining tycoon Beny Steinmetz

Pellet production resumes at Vargem Grande

By: Mariaan Webb     22nd January 2021 Brazilian iron-ore miner Vale has resumed production at the pelletising plant in Vargem Grande, two years after production were halted in a crackdown by authorities following a fatal dam break. Vargem Grande will produce between four-million and five-million tonnes this year, Vale said on... 

Pellet production resumes at Vargem Grande

Brazil state gives Vale ultimatum on settlement talks

By: Reuters     22nd January 2021 Brazilian iron-miner Vale failed on Thursday to reach a legal settlement with Minas Gerais state regarding a deadly dam disaster, with the State warning it would not take "crumbs" and giving a ten-day deadline for a better offer. About 270 people died in 2019 in the town of Brumadinho in Minas... 

Forrest paves the way for green steel

By: Esmarie Iannucci     22nd January 2021 Mining magnate Andrew Forrest has pledged iron-ore major Fortescue to a green energy future, unveiling plans for green steelmaking in the Pilbara. In the first ABC Boyer Lecture for 2021, which will be aired over the weekend, Forrest in a recorded message stated that Fortescue would build... 

Forrest paves the way for green steel
Photo by Bloomberg
Fortescue founder and chairperson Andrew Forrest

Guinea President retains Magassouba as Mines Minister

By: Reuters     22nd January 2021 Guinea President Alpha Conde has retained Abdoulaye Magassouba as mines minister overseeing the West African nation's bauxite, iron-ore, gold and diamond wealth, according to a decree read on state television on Thursday. Magassouba was first appointed to the position in January 2016. Under his... 

Jupiter Mines to proceed with Central Yilgarn demerger, IPO

By: Simone Liedtke     21st January 2021 ASX-listed Jupiter Mines will proceed with the demerger and initial public offering (IPO) of its Central Yilgarn iron-ore (CYIP) assets through newly created company, Juno Minerals. The two companies on January 21 lodged a notice of a general meeting, which will be held virtually on February 19. 

Chrome market could change with new export tax regime, dissuading Chinese offtake  

By: Donna Slater     20th January 2021 A “delicate” balancing act between chrome ore mining and stainless steel production may be under threat as South Africa changes its export tax regime to boost the commodity’s “welfare benefits” and to favour local chrome buyers instead of foreign buyers, Simon le Roux, a student at Rhodes... 

Tharisa extends option to acquire shareholding in Salene Chrome Zimbabwe

By: Tasneem Bulbulia     20th January 2021 Aim-listed Tharisa has extended the option to acquire a 90% shareholding in Salene Chrome Zimbabwe to March 31. Tharisa in May 2018 advised that it had acquired an option to acquire a 90% shareholding in Salene from Leto Settlement. 

November mining production down 11.6% y/y

By: Donna Slater     19th January 2021 Statistics South Africa (Stats SA) reports that South Africa’s mining production decreased by 11.6% year-on-year in November, largely owing to iron-ore output having decreased by 35.3%, contributing 3.9 percentage points. Platinum group metals (PGMs) also dragged the industry’s performance down,... 

Keras raises £1m 

By: Donna Slater     18th January 2021 Aim-listed phosphate and manganese miner Keras Resources has conditionally raised £1-million through the placing of 869.57-million shares. The funds will be used to explore opportunities to grow the company's portfolio through organic growth and the potential introduction of new projects.  

Manganese markets achieve good performance despite headwinds, reports LCIB

By: Tasneem Bulbulia     15th January 2021 Global manganese ore dispatches reached a new record of 42.93-million tonnes in 2020, the London Commodity Intelligence Bureau (LCIB) reports. Shipments were 3.1% higher year-on-year. 

Jubilee secures new investment

By: Marleny Arnoldi     15th January 2021 Aim- and AltX-listed Jubilee Metals has secured investment from two blue chip institutions, including one new to its share register. The company on January 15 announced a placing of new and existing ordinary shares representing 4.96% of the enlarged issued share capital of the company to meet... 

Euro Manganese advances Czech project to next permitting stage

By: Marleny Arnoldi     15th January 2021 TSX-V-listed Euro Manganese says the Czech Ministry of Environment has completed a six-month screening of the company’s preliminary environmental impact assessment for the Chvaletice manganese project. The project is intended to recycle waste from a decommissioned mine in Czech Republic to... 

China 2020 iron-ore imports hit record on robust post-virus demand

By: Reuters     14th January 2021 China's iron-ore imports hit a record high in 2020, jumping 9.5% from a year earlier as the country beefed up spending on infrastructure to spur an economic recovery amid the coronavirus pandemic and manufacturing increased. China, the world's top steel producer, imported 1.17-billion tonnes of... 

Merafe production decreases 29% in 2020 thanks to Covid

By: Simone Liedtke     13th January 2021 JSE-listed Merafe Resources’ attributable ferrochrome production from the Glencore Merafe chrome venture for the fourth quarter and the year ended December 31, 2020, decreased by about 8% and 29%, respectively. Attributable ferrochome production in the fourth quarter was 97 000 t, bringing the... 

Botswana's Masisi joins list of Presidents to address Mining Indaba

By: Donna Slater     12th January 2021 Botswana President Mokgweetsi Masisi has added his name to the upcoming virtual Mining Indaba to be held from February 2 to 3. He joins other Presidents, including South Africa Cyril Ramaphosa, Sierra Leone’s Julius Maada Bio and the Democratic Republic of Congo’s Félix Tshisekedi, who have been... 

Tharisa starts new financial year with strong production

By: Donna Slater     12th January 2021 JSE-listed platinum group metals (PGMs) and chrome miner Tharisa achieved strong production in the quarter ended December 31, 2020 − the first quarter of the company's 2021 financial year − with PGM production up 14.2% year-on-year on a six element basis to 39 300 oz. PGM production was in line... 

Tharisa starts new financial year with strong production
Tharisa CEO Phoevos Pouroulis

Eramet faces continued challenges in New Caledonia, despite rescue plan success

By: Simone Liedtke     12th January 2021 Global mining and metallurgical group Eramet’s rescue plan, which aims to ensure the sustainable recovery of the group’s New Caledonian subsidiary, is achieving the expected impact under normal operating conditions, the company confirmed on January 12. It noted that the subsidiary, Société Le... 

BHP invests in startup seeking to make emissions-free steel

By: Bloomberg     12th January 2021 BHP Group, the world’s biggest mining company, has invested in a startup company seeking to develop less-polluting ways of making steel. While many in the mining industry have outlined how they plan to curb their own direct pollution, those emissions are a fraction of ones produced by customers,... 

New ‘green’ platinum project leaps out of starting blocks, will use 82% less electricity  

By: Martin Creamer     11th January 2021 The innovative new platinum group metals mining and processing project that slashes 82% off electricity use and elevates platinum to a new high level of greenness, leapt out of its starting blocks in North West province on Monday. “We’ve commenced. The tanks are rolling,” Pallinghurst managing... 

New ‘green’ platinum project leaps out of starting blocks, will use 82% less electricity
Pallinghurst managing partner and co-founder Arne Frandsen is interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

First application made for power-tariff relief under new DMRE frameworks 

By: Terence Creamer     11th January 2021 The first application for tariff relief provided for under the Negotiated Pricing Agreement (NPA) frameworks published late last year by the Department of Mineral Resources and Energy (DMRE) has been submitted to the National Energy Regulator of South Africa (Nersa) for authorisation. Nersa tells... 

First application made for power-tariff relief under new DMRE frameworks

Steinmetz’s bribery trial starts a fresh chapter of mining saga

By: Bloomberg     8th January 2021 Beny Steinmetz goes on trial facing bribery charges in Geneva on Monday in the latest chapter of a legal saga that’s dogged the Israeli businessman’s gamble on a multibillion-dollar mine. Steinmetz and two businesspeople are accused of paying the wife of Guinea’s deceased former president... 

Brazil state eyes at least $5.3bn Vale deal after dam burst, official says

By: Reuters     7th January 2021 The Brazilian state of Minas Gerais is hoping to win at least 28-billion reais ($5.3-billion) from a compensation deal with miner Vale after the 2019 Brumadinho deadly dam burst, a senior state official said on Wednesday. State and Vale officials will meet on Thursday, when it is expected talks... 

Brazil state eyes at least $5.3bn Vale deal after dam burst, official says

Temco sale settles

By: Esmarie Iannucci     5th January 2021 Sanjeev Gupta’s GFG Alliance has completed the purchase of the hydro energy-powered Tasmanian Electro Metallurgical Company (Temco) smelter in Tasmania, fro diversified miners South32 and Anglo American. Gupta said this week that the acquisition not only secured the jobs of the smelter’s 250... 

Covid recovery boosts Aus exports

By: Esmarie Iannucci     4th January 2021 The outlook for Australia’s resource and energy exports has improved over the past three months, as global economic activity rebounds from the Covid-19 pandemic, with resources and energy exports to remain robust after earning a record A$291-billion in 2019–20, federal Resources Minister Keith... 

Covid recovery boosts Aus exports

First-quarter European benchmark ferrochrome price settled at $1.17/lb

By: Creamer Media Reporter      18th December 2020 The European benchmark ferrochrome price for the first quarter of 2021 has been settled at $1.17/lb, JSE-listed Merafe reports. It notes that this is a 3.1% increase on the price of $1.14/lb that had been set for the fourth quarter of this year. 

Legal tug-of-war shutters one of SA's richest chrome mines

By: News24Wire      18th December 2020 A chrome mine in Limpopo, potentially one of the richest in South Africa, has sat idle while a series of arcane court battles ensue between local and Chinese business interests. A development agency tasked with bringing employment to the area has lost its stake in the mine, and some 1 200... 

Zambia President says greater State role in mines will help economy recover 

By: Reuters     17th December 2020 Zambia must build majority stakes in selected mines to benefit from its mineral wealth beyond taxes, President Edgar Lungu said on Thursday, as he set out an economic recovery plan after the country defaulted on a debt payment last month. Africa's second-biggest copper producer, Zambia is seeking... 

Zambia President says greater State role in mines will help economy recover
Zambian President Edgar Lungu
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