R/€ = 19.9715 Change: 0.0110
R/$ = 18.5445 Change: 0.0286
Au 1940.23 $/oz Change: -38.55
Pt 972.21 $/oz Change: -11.90

Iron Ore News

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... 

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... 

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... 

Australia leading the way in critical minerals - report

By: Esmarie Iannucci     7th March 2023 A new report by Geoscience Australia has shown that Australia’ was the world’s top lithium producer in 2021, and was among the top five global producer of 18 mineral commodities, including iron-ore, bauxite, gold, cobalt, mineral sands, rare earths, zinc and nickel. In the Identified Mineral... 

Image shows a lithium sample

Turn energy, logistics threats into opportunities, African Rainbow Minerals CEO urges  

By: Martin Creamer     6th March 2023 South Africa's energy and logistics threats should be turned into opportunities, says African Rainbow Minerals (ARM) CEO Mike Schmidt. Speaking to Mining Weekly in a Zoom interview following ARM’s presentation for 40% higher headline earnings at R5 171-million, Schmidt urged the country to never... 

African Rainbow Minerals (ARM) CEO Mike Schmidt.
African Rainbow Minerals CEO Mike Schmidt speaking to Mining Weekly's Martin Creamer. Video editing: Darlene Creamer

Infrastructure backlog, waning service delivery driving people to cities – TIPS

By: Schalk Burger     6th March 2023 There is a massive infrastructure backlog in historic labour-sending regions, or former homelands, and the share of households with piped water inside the house has declined in the Free State, North West, Mpumalanga and Limpopo since 1994, reflecting waning service delivery in these provinces.... 

African Rainbow Minerals to deliver early ounces from Bokoni platinum mine 

By: Martin Creamer     6th March 2023 Diversified mining company African Rainbow Minerals (ARM) has invested R1-billion of capital to deliver early ounces at the Bokoni platinum group metals (PGMs) mine, the company said on Monday when the JSE-listed company delivered 40%-higher headline earnings to R5 171-million in the six months... 

ARM's growth outlook.
ARM's growth outlook.

Iron-ore and copper drop on lack of Beijing spending pledges

By: Bloomberg     6th March 2023 Commodities from iron-ore to copper fell after China set a cautious economic growth target of about 5% for the year and didn’t announce any major new stimulus. The goal unveiled at the National People’s Congress was below what most economists had been expecting, and may reflect a desire to... 

The National People's Congress meeting was held in Beijing on Monday.
The National People's Congress meeting was held in Beijing on Monday.

African Rainbow Minerals declares R3bn interim dividend 

By: Martin Creamer     6th March 2023 The headline earnings of African Rainbow Minerals rose by 40% to R5 171 million in the six months to December 31, when the JSE-listed company maintained a robust financial position, with net cash of R9 548-million. An interim dividend of R14 a share amounting to R3 145-million has been declared... 

African Rainbow Minerals Executive Chairperson Dr Patrice Motsepe.
African Rainbow Minerals Executive Chairperson Dr Patrice Motsepe.

Grindrod looks to expand commodity portfolio in the hunt for growth 

By: Irma Venter     2nd March 2023 Logistics specialist Grindrod aims to “deconcentrate” its portfolio of commodities, says CEO Xolani Mbambo. Unveiling the company’s financial results for the year ended December 31 on Thursday, he noted that Grindrod had been doing exceptionally well in handling large volumes of chrome,... 

Grindrod CEO Xolani Mbambo
Xolani Mbambo

Flinders appoints new CEO

By: Esmarie Iannucci     2nd March 2023 Junior Flinders Mines has appointed Steven Michael as MD and CEO, effective from March 2. Michael has over 25 years experience in the resources sector and was most recently the MD of ASX-listed uranium explorer Vimy Resources, which completed a A$658-million merger with Deep Yellow. Michael was... 

Iron-ore jumps on China data, bullish steel demand outlook

By: Reuters     1st March 2023  Iron-ore futures jumped on Wednesday, as better-than-expected China manufacturing activity data raised hopes for a demand rebound in the world's top steel producer. The most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) ended daytime trade 2.42% higher at 908.5... 

Higher commodity prices failing to spur fixed mining investment  

By: Martin Creamer     28th February 2023 The regulatory uncertainties and inability of the industry to transparently, quickly and efficiently apply for mining and prospecting rights in a corruption-free manner has had severe investment consequences, Minerals Council South Africa states in its Facts & Figures Pocketbook 2022. This is... 

South African mining remained a trillion rand industry for the second year in 2022.
South African mining remained a trillion rand industry for the second year in 2022.

Kavango completes strategic review to bolster push into Botswana

By: Donna Slater     28th February 2023 Southern Africa-focussed metals explorer Kavango Resources has completed its strategic review, which was undertaken to provide a detailed analysis of the company’s current projects, its operations in Botswana, its commodity focus, opportunities for regional expansion and outline the swiftest path... 

Trackless mobile machine safety next big challenge, says Minerals Council  

By: Martin Creamer     27th February 2023 Having last year achieved the lowest fall of ground fatalities ever, South African mining’s next big safety challenge is to achieve greater safety in the use of trackless mobile machines – rubber-tired vehicles that operate in underground mines without making use of rail tracks. In 2021, South... 

From left to right, Nikisi Lesufi, Japie Fullard, Roger Baxter and Allan Seccombe.
From left to right, Nikisi Lesufi, Japie Fullard, Roger Baxter and Allan Seccombe.

World warming at rate well above what Paris Agreement requires, Anglo CEO warns 

By: Martin Creamer     24th February 2023 The world is on a trajectory to reach 2.7°C of warming above pre-industrial levels, which is quite a long way mathematically from the 1.5°C that is required by the Paris Agreement. This was pointed out by Anglo American CEO Duncan Wanblad, quoting independent sources such as Climate Action Tracker. 

Anglo American CEO Duncan Wanblad.
Photo by Creamer Media
Anglo American CEO Duncan Wanblad.

Transnet snubs Kumba’s overture to run lucrative iron-ore rail line

By: Bloomberg     24th February 2023 South Africa’s State-owned logistics company has rejected an overture from an Anglo American unit to take over the running of its iron ore rail line, which is one of its most profitable but battles to move sufficient volumes. Kumba Iron Ore wants to lease the line from Transnet or run it on a... 

Iron-ore being transported by rail

Ironveld plans £2m fundraising 

By: Marleny Arnoldi     23rd February 2023 High-purity iron and titanium slag producer Ironveld is proposing to raise £2-million on the Aim, to be used for accelerating the final works necessary to reach full production at its recently commissioned Rustenburg smelter complex, in South Africa. The fundraising will comprise a placing of... 

BHP trials green fuel in the Pilbara

By: Esmarie Iannucci     23rd February 2023 Diversified miner BHP is trialling the use of Hydrotreated Vegetable Oil (HVO) at its Yandi iron-ore operations, in Western Australia, to help power mining equipment. Supplied through a collaboration with energy major bp, the renewable diesel made from HVO will be used in haul trucks and other... 

Minerals Council welcomes 125% energy tax break in Budget speech

By: Martin Creamer     22nd February 2023 Minerals Council South Africa welcomed the government’s intervention on Eskom’s debt and the financial encouragement to stimulate businesses building renewable energy projects by offering generous tax incentives as outlined in the 2023 Budget Speech. The Minerals Council believes there should be... 

Sanral, Transnet, Denel among SOEs to receive fiscal support in 2023/24 

By: Marleny Arnoldi     22nd February 2023 As State-owned entities (SOEs) continue to rely on government bailouts and dominate the guarantee portfolio of the fiscus, Finance Minister Enoch Godongwana has announced conditional in-year allocations to various SOEs in the National Budget speech delivered on February 22. These include... 

TFR's operations

Commodity prices take a bite out of Rio profit

By: Esmarie Iannucci     22nd February 2023 Diversified major Rio Tinto has seen its profit after tax fall by 41%, while underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) decrease by 30% for the full year ended December, as commodity prices fell. Profit after tax reached $12.4-billion in the full year... 

Image shows a Rio hard hat at a mine site

Rio's Baowu JV to kick in in March

By: Esmarie Iannucci     22nd February 2023 Mining major Rio Tinto’s joint venture (JV) with China’s Baowu Steel Group is expected to become effective in March this year, with Rio reporting that all primary environmental and Australian government approvals were now in place. The two companies last year reached a JV agreement over the... 

Green steel to cut Scope 3, solar to cut Scope 2, hydrogen to cut Scope 1 – Kumba Iron Ore 

By: Martin Creamer     21st February 2023 South Africa’s Kumba Iron Ore sees itself as a critical player in the decarbonisation journey. Regarding tricky Scope 3 emission reduction, the Anglo American company is partnering with top steelmakers Salzgitter, ThyssenKrupp and Nippon to cut its Scope 3; advancing fast towards generating its... 

Kumba Iron Ore CEO Mpumi Zikalala.
Kumba Iron Ore CEO Mpumi Zikalala.
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