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Iron Ore News

Tanzania to add gold to reserves, resume $3bn iron project

By: Bloomberg     14th June 2021 Tanzania launched a new gold refinery as its central bank plans to start buying the metal to diversify its reserves. The Mwanza Precious Metal Refinery is able to process 480 kg of gold a day and plans to double the capacity in a few months, Tanzanian President Samia Suluhu Hassan said in a... 

Vale mulls remote-controlled trains to work around risky dam in Brazil

By: Bloomberg     14th June 2021 Iron-ore giant Vale is considering the use of remote-controlled trains near a tailings dam that Brazilian authorities say risks collapsing and getting workers buried. It would take around 60 days for Vale to implement the solution, according to a person familiar with the plan, who asked not to... 

Samarco offers creditors shares or 85% haircut - sources

By: Reuters     11th June 2021 Samarco Mineracao, a bankrupt joint venture between Brazilian miner Vale and BHP Group, proposed on Thursday a plan to restructure 50-billion reais ($10-billion) in debt with an offer of preferred shares or a cash payout in 2041 equal to 15% of the current value of holdings, sources said.... 

Macarthur ponders Pilbara spin-out

By: Esmarie Iannucci     11th June 2021 ASX- and TSX-V listed Macarthur Minerals on Friday announced plans to spin-out Pilbara iron-ore assets into a separately listed vehicle Infinity Mining. Infinity, which was previously a wholly owned subsidiary of Macarthur known as Macarthur Australia, holds the company’s Pilbara... 

Allow geologists from surrounding African countries to boost SA's exploration rebirth, top explorer advises  

By: Martin Creamer     11th June 2021 Exploration geologists from surrounding countries should be allowed into South Africa to boost exploration. That is the view of Exploration Geology Consultants exploration manager Thinus Jordaan, who believes that South Africa’s planned exploration thrust should focus on commodities required in... 

Allow geologists from surrounding African countries to boost SA's exploration rebirth, top explorer advises
Exploration manager Thinus Jordaan interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Iron-ore scales over three-week high on China demand, supply risks

By: Reuters     11th June 2021 Iron-ore futures jumped on Friday to their highest in more than three weeks, as a rebound in steel inventory in top producer China suggested that demand for the raw material remained brisk. The most-traded September iron ore on China's Dalian Commodity Exchange rose as much as 4.1% to 1 226 yuan... 

Mining output performs well, but off a low base

By: Marleny Arnoldi     10th June 2021 Mining output has increased by 116.5% year-on-year in April, after having increased by 22.5% year-on-year in March. The largest contributors were platinum group metals, growing by 276%; gold, growing by 177%; manganese ore, growing by 208%; and iron-ore, growing by 149%. 

Transnet reports increase in cable theft; 600 arrests made

By: Schalk Burger     10th June 2021 State-owned logistics company Transnet on June 10 reported that there was an average of 650 incidents of cable theft a month in the first five months of this year, while more than 600 arrests have been made since the beginning of the year. Transnet loses about 120 km of overhead cables a month... 

Vale's decomissioned Brazil dam at risk of collapse, labour body says

By: Reuters     10th June 2021 Iron-ore miner Vale's decomissioned Xingu dam is at "imminent risk of collapsing," according to a statement on Wednesday by the Regional Labour Department for the southeastern Brazilian state of Minas Gerais. The Xingu tailings, or mining waste, dam in the town of Mariana, already devastated by... 

Iron-ore jumps on supply concerns, shrugs off China price watch

By: Reuters     9th June 2021 Iron-ore futures rose on Wednesday, with the Dalian benchmark contract gaining up to 5.4% after a three-day slump, as worries over supply boosted prices of the steelmaking raw material. The most-traded September iron-ore on China's Dalian Commodity Exchange ended daytime trading 4% higher at 1... 

South Africa accounts for half of ICMM members' mining fatalities

By: Marleny Arnoldi     8th June 2021 A latest safety performance report by the International Council on Mining and Metals (ICMM) finds that South Africa had the highest fatality rate last year, accounting for 50% of all fatalities globally. The country recorded 22 fatalities from 422-million hours worked. 

South Africa accounts for half of ICMM members' mining fatalities

First-quarter GDP up 4.6% 

By: Donna Slater     8th June 2021 South Africa’s gross domestic product (GDP) increased at a yearly rate of 4.6% during the first quarter of 2021, reports Statistics South Africa (Stats SA). The mining and quarrying sectors combined grew by 18.1%, contributing 1.2 percentage points to the overall GDP figure, while the... 

First-quarter GDP up 4.6%

Mining firms with higher ESG ratings outperform market – PwC  

By: Martin Creamer     8th June 2021 Mining companies with higher environmental, social and governance (ESG) ratings outperformed the broader market during the peak of the Covid-19 crisis, delivering 34% average total shareholder return over the past three years — ten percentage points higher than the general market index,  PwC... 

Mining firms with higher ESG ratings outperform market – PwC
PwC Mine 2021 Report covered by Mining Weekly’s Martin Creamer. Video: Nicholas Boyd

Miners due better year in 2021 - report

By: Esmarie Iannucci     8th June 2021 New research from PwC has found that the world’s top 40 miners could report record high revenues and earnings in 2021, and the second highest net profits in 18 years. In its Mine 2021 report, PwC noted that strong commodity prices propelled market capitalisation to rise by 64% on 2019 figures to... 

Miners due better year in 2021 - report

Major joint effort needed to meet host community challenge – Menar  

By: Martin Creamer     7th June 2021 A major joint effort is needed by big and small mining companies, government, labour, communities and traditional leaders and municipalities to meet the host community challenge facing South Africa’s mining industry, Menar MD Vuslat Bayoglu said on Monday. Speaking to Mining Weekly in a Zoom... 

Major joint effort needed to meet host community challenge – Menar
Menar MD Vuslat Bayoglu interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Avima launches arbitration against Congo Republic in iron-ore dispute

By: Reuters     7th June 2021 Avima Iron Ore Limited said on Monday it had launched arbitration proceedings against Congo Republic and is seeking $27-billion in damages after the government stripped its production license last year. The United Arab Emirates-registered company's iron ore licence was one of three that Congo’s... 

Iron-ore tumbles as optimism around China demand fades

By: Reuters     7th June 2021 Iron-ore prices tumbled on Monday as China's subdued trade data for May and narrowing steel profit margins dampened the market's enthusiasm about demand prospects for the steelmaking ingredient. China, which accounts for more than half of the world's steel output, imported 89.79 million tonnes of... 

Iron-ore tumbles as optimism around China demand fades

Aboriginal group disappointed by Rio Tinto board hire

By: Reuters     7th June 2021 An Aboriginal group on whose lands Rio Tinto mines iron-ore in Western Australia said it did not support the miner's board appointment of former state Minister Ben Wyatt, citing his approvals that led to destruction of cultural heritage sites. Wyatt, the state's former treasurer and Aboriginal... 

Aboriginal group disappointed by Rio Tinto board hire
Ben Wyatt

Vale closes mines after prosecutors order evacuation of dam area

By: Reuters     4th June 2021 Brazilian miner Vale has interrupted production at its Timbopeba mine and part of its Alegria mine, near the town of Mariana in Minas Gerais, the company said in a securities filing. The closures will reduce its output by 40 000 iron-ore tonnes a day and were mandated by labor prosecutors in the... 

Miners contributing to A$8bn trade surplus in April

By: Esmarie Iannucci     4th June 2021 New data by the Australian Bureau of Statistics (ABS) has shown that the resources sector continued to support Australia’s economy, with the ABS reporting a trade surplus of more than A$8-billion in April 2021. Federal Resources Minister Keith Pitt on Friday said that the positive data for April... 

Miners contributing to A$8bn trade surplus in April

Resource statement released to tempt new investment

By: Esmarie Iannucci     3rd June 2021 The federal government on Thursday released its first Global Resources Statement as part of its efforts to attract foreign investment and partnerships to develop Australia’s natural resources. The Global Resources Statement is the first milestone under the government’s Global Resources Strategy,... 

Resource statement released to tempt new investment

Sundance approaches International Chamber of Commerce for Cameroon arbitration

By: Marleny Arnoldi     2nd June 2021 Australian miner Sundance Resources has referred its dispute with the Cameroon government to arbitration at the International Chamber of Commerce, based in Paris, France. Sundance says its grievance arose when Cameroon failed to implement an exploitation permit that was due to Sundance’s... 

Hot prices pervading commodities market, CRU tells Junior Indaba  

By: Martin Creamer     2nd June 2021 Price hotness is pervading the commodities market, CRU senior analyst Clare Hanna said on Tuesday, when she addressed the second and final day of the Junior Indaba. Speaking on ‘what’s hot and what’s not’, Hanna said almost all commodities were at the higher-than-15% level. (Also watch attached... 

Hot prices pervading commodities market, CRU tells Junior Indaba
CRU senior analyst Clare Hanna at Junior Indaba covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Australia poised to benefit from increased commodity demand - MCA

By: Esmarie Iannucci     2nd June 2021 A new report by the Minerals Council of Australia (MCA) has shown that Australia was poised to take advantage of the predicted increase in global demand for commodities. The MCA’s Commodity Demand Outlook 2030 has predicted that seaborne iron-ore demand would rise moderately, from 1.5-billion... 

Australia poised to benefit from increased commodity demand - MCA

Pitt congratulates miners on perseverance

By: Esmarie Iannucci     2nd June 2021 Federal Resources Minister Keith Pitt has congratulated the resources sector on its performance during the Covid-19 pandemic and for supporting the recovery of the Australian economy while building on its reputation as a stable and reliable global supplier of minerals and energy throughout the... 

Council for Geoscience goes live with digital geoscience data

By: Martin Creamer     1st June 2021 South Africa’s Council for Geoscience went live on Tuesday with making geoscience data digitally available. During a panel discussion on the first day of the Junior Indaba, Council for Geoscience CEO Mosa Mabuza invited all to go on to the council’s website to find this data, the bulk of which,... 

Council for Geoscience goes live with digital geoscience data
Photo by Creamer Media
From top clockwise, ENSafrica COO Otsile Matlou, Geoscience CEO Mosa Mabuza, Orion Minerals CEO Errol Smart, DMRE DG Advocate Thabo Mokoena and AmaranthCX director Paul Miller.

Tender for new modern cadastre system to be invited next week   

By: Martin Creamer     1st June 2021 A tender for a new modern cadastre system to provide exploration information will be invited by the end of next week, Department of Mineral Resources and Energy (DMRE) director-general Advocate Thabo Mokoena said on Tuesday. In his opening keynote address on initiatives to ignite the exploration... 

Tender for new modern cadastre system to be invited next week
Junior Indaba covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Macarthur investigates hydrogen option for Lake Giles

By: Esmarie Iannucci     1st June 2021 ASX-listed Macarthur Minerals will trial the integration of hydrogen power at its flagship Lake Giles iron project, in Western Australia. The company on Tuesday announced that it had inked a strategic partnership and collaboration agreement with Lavo Hydrogen Technology Holding to investigate the... 

Ironveld Luge mining right application accepted

By: Tasneem Bulbulia     1st June 2021  South Africa’s Department of Mineral Resources and Energy has accepted Aim-listed Ironveld's subsidiary company Luge Prospecting and Mining’s mining right application in respect of vanadiferous-titaniferous magnetite (VTM) over the farms Luge 697 LR and Non Plus Ultra 683 LR. Luge is the holder... 

Vietnam steel maker Hoa Phat acquires Australia's Roper Valley iron-ore mine

By: Reuters     31st May 2021 Vietnam's steel maker Hoa Phat said on Monday it has acquired the Roper Valley iron ore mine project in Australia, marking the company's first step to secure its own supplies in the world's biggest iron ore producer. The project is estimated to have 320-million tonnes of reserves, with mining... 

Project house DRA applies for secondary inward JSE listing 

By: Martin Creamer     29th May 2021 The 37-year-old South Africa-rooted project house DRA Global has applied for a secondary inward listing on the JSE under the main board’s construction and materials, engineering and contracting services sector. The diversified engineering, project and operations management group – now... 

Project house DRA applies for secondary inward JSE listing
Pan African Resources’ Elikhulu...one of DRA's gold projects.

Iron-ore benchmarks rise on China's steel output plans

By: Reuters     28th May 2021 Iron-ore futures in Asia rose on Friday, but were set for a third weekly decline on persistent price-control concerns. Top steel producer China's recent statements on steel capacity reforms had sparked worries about tight supply prospects, pushing prices to record highs earlier this month. 

Strike raises funds for iron-ore projects

By: Esmarie Iannucci     28th May 2021 ASX-listed Strike Resources has completed a A$5-million capital raise to fund work on its Apurimac iron-ore project, in Peru, and at its Paulsens East iron-ore mine, in Western Australia. Strike would issue more than 22.8-million shares, at a price of 22c each, to raise the capital, with the... 

Further cost increases flagged at Iron Bridge

By: Esmarie Iannucci     28th May 2021 Iron-ore major Fortescue Metals has again revised the capital cost estimate for its Iron Bridge magnetite mine, in the Pilbara, while first production has been pushed out until December 2022. The miner in February announced that a review into the Iron Bridge operation had upwardly revised the... 

Further cost increases flagged at Iron Bridge

Iron-ore price contributes to Afrimat’s ‘best ever’ financial position 

By: Marleny Arnoldi     27th May 2021 JSE-listed openpit miner Afrimat’s diversification strategy, along with a particularly strong iron-ore price, have supported the company’s overall profitability and ability to generate cash, despite impacts caused by the Covid-19 pandemic, in the financial year ended February 28. The group... 

Iron-ore price contributes to Afrimat’s ‘best ever’ financial position

Macsteel confirms court challenge against ‘unlawful’ extension of safeguard duties 

By: Terence Creamer     27th May 2021 Opposition to the extension of safeguard duties on steel imports is intensifying, with the country’s leading merchant challenging the extension of the duties in court and with others even questioning the economic benefits of sustaining a primary steel producer in the form of ArcelorMittal South... 

Macsteel confirms court challenge against ‘unlawful’ extension of safeguard duties

Anglo explores 3D printing to boost supply chain efficiencies, support local businesses

By: Donna Slater     27th May 2021 Diversified miner Anglo American has partnered with the South African Council for Scientific and Industrial Research (CSIR) and US-based technology company Ivaldi Group, to explore opportunities to digitally distribute spare parts for mining and processing equipment to be manufactured locally... 

Bloom Lake expansion rapidly advancing – Champion Iron

By: Mariaan Webb     27th May 2021 The expansion of the Bloom Lake iron-ore mine, in Quebec, is rapidly progressing, at a time when demand for the high-grade iron-ore is strong. More than 200 employees, consultants and subcontractors are currently working on the project, which will double the mine’s nameplate capacity to... 

Bloom Lake expansion rapidly advancing – Champion Iron
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