R/€ = 16.07 Change: -0.07
R/$ = 14.34 Change: -0.08
Au 1272.92 $/oz Change: -0.69
Pt 892.00 $/oz Change: -3.88

Iron Ore News

India’s NMDC targets 63Mt by 2021/22

By: Ajoy K Das     Updated 3 hours ago Indian iron-ore miner NMDC Limited will ramp up its production capacity to 63-million tonnes a year by 2021/22, from 32-million tonnes achieved in 2018/19. The company is also planning to reduce logistics and transportation costs by 55% by constructing a slurry pipeline. 

Mt Gibson gets ready to ship Koolan Island ore

By: Esmarie Iannucci     Updated 3 hours ago Junior Mount Gibson Iron has restarted high-grade iron-ore sales from its Koolan Island operation, in Western Australia. The ASX-listed miner on Wednesday said that some 72 000 t of high-grade hematite iron-ore, averaging 65% iron, is currently being loaded onto a bulk carrier scheduled to... 

Gindalbie/Ansteel deal gets FIRB backing

By: Esmarie Iannucci     Updated 4 hours ago The Foreign Investment Review Board has approved Hong Kong-based Ansteel’s takeover of ASX-listed Gindalbie Metals. Gindalbie in March announced a 2.6c a share takeover offer from Ansteel, which currently holds a 35.71% interest in Gindalbie and is a 52.16% shareholder in the Karara project. 

Congo-Brazzaville ships first iron-ore ahead of expected production boom

By: Reuters     23rd April 2019 Congo-Brazzaville shipped its first iron-ore exports on Friday ahead of an expected boom in production from mines owned by Congolese billionaire Paul Obambi's Sapro and Swiss commodities giant Glencore. Sapro mined the oil-dependent Central African country's first iron ore in 2017 from its Mayoko... 

Fitch warns iron-ore price increase may be ‘more structural’ than initially thought

By: Simone Liedtke     18th April 2019 The sharp rise in iron-ore prices to over $90 per dry metric ton (dmt) from under $75/dmt since January, may be “more structural than initially anticipated”, says Fitch Ratings. It believes sustained iron-ore prices of above $85/dmt over the next 9 to 12 months should provide cash flow windfalls... 

Fortescue takes a hit from Veronica

By: Esmarie Iannucci     18th April 2019 Iron-ore major Fortescue Metals has tightened its full year export guidance following Tropical Cyclone Veronica, in late March. The company on Thursday reported that the wet weather conditions resulted in the loss of five days of shipments, equating to some 2.5-million tonnes during the three... 

Mick Davis moves closer to iron-ore mining with Liberian deal  

By: Bloomberg     18th April 2019 Mining dealmaker Mick Davis has won permission to export iron-ore from a planned mine in West Africa, adding momentum to the industry veteran’s comeback. Davis, through his new Niron Metals vehicle, has signed an agreement with Liberia that will allow him to use a rail and port to export iron-ore... 

Mick Davis moves closer to iron-ore mining with Liberian deal
Photo by Bloomberg
Mick Davis

Miners behind pre-poll South African stock rally not done yet

By: Bloomberg     17th April 2019 South African mining stocks have had their best start to the year since 2016 and there’s every chance they are not done yet. The FTSE/JSE Africa Mining Index has gained 22% as of April 16 and is close to an eight-year high, helping South Africa’s benchmark gauge advance 12% as investors show few... 

Vale expects to resume Brucutu mine operations within 72 hrs - filing

By: Reuters     17th April 2019 Brazilian iron-ore miner Vale said in a securities filing late on Tuesday that within 72 hours it expects to resume operations at the Brucutu mine, its largest in Minas Gerais state. Brucutu was shuttered in early February by request of Minas Gerais state prosecutors after a tailings dam burst... 

Kumba hands over Siyathemba youth centre, parks to community  

By: Tasneem Bulbulia     16th April 2019 Kumba Iron Ore CE Themba Mkhwanazi on Tuesday officially handed over 17 parks, as well as the Siyathemba Youth Centre, to the community of Siyathemba, near Kathu. Siyathemba is a newly built town, near Kathu, in the Northern Cape, to which the previous town of Dingleton is being relocated. This... 

Kumba hands over Siyathemba youth centre, parks to community
Kumba Iron Ore CEO Themba Mkhwanazi details the new Siyathemba Youth Centre and 17 parks, and how these form part of the Dingleton - Siyathemba relocation project. Video and editing: Nicholas Boyd.

Rio Tinto cuts iron-ore guidance after challenging start to 2019

By: Mariaan Webb     16th April 2019 The year has started with “several challenges” for diversified mining group Rio Tinto’s iron-ore business, resulting in the major downgrading its guidance for 2019. Pilbara shipments are now expected to be between 333-million and 343-million tonnes for the year, compared with the previous... 

Rio Tinto cuts iron-ore guidance after challenging start to 2019

Mbazima to retire from Anglo American after 18 years 

By: Creamer Media Reporter      12th April 2019 Norman Mbazima will step down as deputy chairperson of Anglo American South Africa on June 30. “Norman has made an exceptional contribution to Anglo American over the last 18 years, delivered with tireless energy, most recently as deputy chairperson of Anglo American South Africa. He has played... 

Mbazima to retire from Anglo American after 18 years
Photo by Creamer Media
Norman Mbazima

Mineral-rich West Africa shows much potential

By: Mamaili Mamaila     12th April 2019 The cheerful mood among operators at the 2019 Investing in African Mining Indaba, coupled with some proactive and innovative governments competing for attention, suggests that the West African mining sector’s vast potential may increasingly be realised through the successful development of new... 

Mineral-rich West Africa shows much potential
POTENTIAL PERFORMANCE The West African mining sector’s vast potential could be realised through successful proactive project development

AEM system to boost West African exploration

By: Mamaili Mamaila     12th April 2019 South African airborne geophysics technology provider Spectrem Air plans to reintroduce the application of its airborne electromagnetic (AEM) platform – the SPECTREMPLUS system – to the mineral and groundwater exploration industry in West Africa. This continually evolving platform entails being... 

AEM system to boost West African exploration
SIGHTS SET Spectrem Air is following new business leads in Ghana and Guinea

Indian iron-ore production peaks, but imports continue to surge

By: Ajoy K Das     11th April 2019 Indian iron-ore production during last financial year has been provisionally pegged at an eight-year high, but the domestic market is plagued by the dichotomous dynamics of rising imports and unsold stockpiles across the regions. According to preliminary industry estimates, iron-ore production... 

Zimbabwe pursuing favourable policies to attract more mining investment 

By: Tasneem Bulbulia     10th April 2019 To pursue meaningful and increased exploration, fully capitalise on economic benefits and increase investment in the mining sector, the Zimbabwean government has embarked on a number of policies to engender a favourable environment for investors. Deputy Mines and Mining Development Minister... 

Zimbabwe pursuing favourable policies to attract more mining investment

BSG ordered to pay Vale $1.2bn over Simandou

By: Creamer Media Reporter      10th April 2019 An arbitral tribunal in London has ordered BSG Resources (BSGR) to pay Brazilian miner Vale $1.25-billion plus costs and interest in a case relating to the Simandou iron-ore concessions in Guinea. The award is for fraud and breaches of warranty by BSGR  – the mining arm of billionaire Beny... 

As Goldman backs off, Citi says chase iron-ore rally to $100/t

By: Bloomberg     8th April 2019 Iron-ore’s poised to hit $100/t, according to Citigroup, which highlighted “very, very low” seaborne cargoes just as data from China may show a pick-up in demand. That view follows advice from Goldman Sachs Group that investors should be closing bullish bets after recent gains. “Iron-ore is not... 

As Goldman backs off, Citi says chase iron-ore rally to $100/t

Anglo taking tailings dam monitoring to next level 

By: Martin Creamer     4th April 2019 Diversified mining company Anglo American is implementing new techniques that give the company far more control over tailings dams, which have been thrown into the spotlight after the tragic loss of life at Brumadinho, in Brazil, where an iron-ore tailings dam collapsed at Vale’s Corrego do... 

Anglo taking tailings dam monitoring to next level
Photo by Anglo American
How Anglo American is reducing tailings dam risk

ERG joins UN Global Compact

By: Creamer Media Reporter      4th April 2019 Diversified natural resources group Eurasian Resources Group (ERG) has joined the United Nations Global Compact – the world’s largest voluntary corporate citizenship initiative. ERG has also undertaken to implement the compact's ten principles in the areas of human rights, labour the environment... 

World's largest iron-ore port expects more exports post Vale

By: Bloomberg     4th April 2019 With a market facing a global deficit that was unforeseen at the start of the year, the world’s biggest iron ore export port is flagging a timely boost in shipments as Fortescue Metals Group and rivals bring on new mines in Australia’s remote Pilbara region. The projected shortfall comes in the... 

World's largest iron-ore port expects more exports post Vale

Iron-ore thunders higher as mine dams closed, exports collapse

By: Bloomberg     3rd April 2019 Iron-ore’s supply-driven rally picked up pace on Wednesday, with futures topping $90 a ton, amid increasing concern the crisis at Brazil’s Vale will be drawn out as regulators ordered dozens of dams to be shut. Futures for benchmark material rallied as much as 4.1% in Singapore, while spot ore... 

Iron-ore thunders higher as mine dams closed, exports collapse

Tshipi achieves record full-year export volumes

By: Tasneem Bulbulia     2nd April 2019 Tshipi é Ntle Manganese Mining’s Tshipi Borwa mine in, in South Africa, met its sales target of 3.51-million tonnes of manganese for the 2019 financial year. ASX-listed Jupiter Mines, which has a 49.9% beneficial interest in Tshipi é Ntle, has reported that this resulted in record export volumes. 

BHP cuts production forecasts on the tail of Veronica

By: Esmarie Iannucci     2nd April 2019 Tropical Cyclone Veronica is expected to cost major BHP between six-million to eight-million tonnes of iron-ore production, the miner warned on Tuesday. The company noted that port and rail operations at Port Hedland were ramping up after being suspended due to Tropical Cyclone Veronica, and... 

Fortescue green-lights Iron Bridge

By: Esmarie Iannucci     2nd April 2019 Iron-ore miner Fortescue Metals has approved the development of the $2.6-billion Iron Bridge magnetite project, in Western Australia. The ASX-listed miner said on Tuesday that the project is expected to produce 22-million tonnes a year once in full operation, producing a 67% iron content... 

Fortescue green-lights Iron Bridge

Cyclone hits Rio Tinto’s iron-ore guidance

By: Esmarie Iannucci     1st April 2019 Diversified miner Rio Tinto on Monday warned that iron-ore production in 2019 was likely to be some 14-million tonnes below previous estimates. The miner noted that while its iron-ore projects in Western Australia were progressively resuming operation following Tropical Cyclone Veronica, initial... 

Ferrexpo delays results again as charity investigation continues

By: Reuters     1st April 2019 Ukraine-focused iron-ore pellet producer Ferrexpo on Monday again delayed the publication of full-year results to the end of April, while it awaits further progress in an independent investigation on possible misuse of charitable donations. Ferrexpo said last month it was delaying the results... 

Vale proposes increase of board, more mining execs

By: Reuters     1st April 2019 Brazilian miner Vale has proposed enlarging its board by adding one independent member, according to a securities filing, two months after 300 people died in a mining dam operated by the company. One source close to controlling shareholders said the change is aimed at including more executives... 

Alderon aims for fully digital mine at Kami

By: Creamer Media Reporter      29th March 2019 The Kami Mine Limited Partnership (Kami LP) has entered into a memorandum of understanding (MoU) with digital energy management and automation firm Schneider Electric to transform the Kami mine, in western Labrador, into a fully digital mine. Alderon Iron Ore president and CEO Tayfum Eldem said... 

Rio Tinto declares force majeure on some iron ore contracts after cyclone

By: Reuters     29th March 2019 Rio Tinto said on Friday it issued force majeure notices to some iron ore customers due to damage from tropical cyclone Veronica, which hit Western Australia earlier this week. A force majeure is invoked when a company tells a counterparty that it cannot perform an obligation under a contract... 

Vale slashes iron-ore sales estimate after dam burst

By: Reuters     28th March 2019 Brazilian miner Vale on Thursday estimated selling up to 75-million tonnes less iron-ore this year, after several mines were halted following its second deadly dam burst in less than four years. The estimate, which is 20% below its prior forecast, is the latest blow to Vale from the collapse at... 

Vale activates alarms near tailings dams amid risk of rupture

By: Reuters     28th March 2019 Brazilian mining firm Vale activated alarms in areas below three tailings dams on Wednesday night due to an elevated risk of rupture, amid a tense atmosphere in Minas Gerais state where a dam burst in January killed about 300 people. The company activated alarms in areas downstream of the B3/B4... 

Vale announces writedowns, profit after dam disaster

By: Reuters     28th March 2019 Brazilian iron-ore miner Vale on Wednesday announced a series of writedowns and provisions related to the Brumadinho tailings dam collapse that killed some 300 people two months ago, saying there would be an affect on future results. The writedowns include $124-million related to the Corrego de... 

Vale iron-ore output rose 8% in fourth quarter

By: Reuters     27th March 2019 Brazilian miner Vale said on Tuesday that total iron ore output rose 8.2% in annual terms to 100.988-million tonnes in the fourth quarter, which closed about a month before the collapse of its tailings dam at Brumadinho killed hundreds of people. For all of 2018, Vale's output was... 

Dalian iron-ore slides as Australian miners resume operations

By: Reuters     26th March 2019 Dalian iron ore closed lower on Tuesday after major iron ore miners in Australia resumed some operations after cyclones, easing concerns over tight supply of the steel-making ingredient. Rio Tinto said that staff were returning to its iron ore ports and rail operations in Western Australian,... 

Grange spends big at Savage River

By: Esmarie Iannucci     26th March 2019 ASX-listed Grange Resources will spend A$15-million on an exploration decline at its Savage River iron-ore project, in Tasmania, to allow for diamond drilling of the North Pit as part of it’s a$3.5-million prefeasibility study. The exploration decline will be 5.5m wide and 5.8m high, and would... 

Cazaly cuts costs at Parker Range

By: Esmarie Iannucci     26th March 2019 A cost study on the Parker Range iron-ore project, in Western Australia has lowered the capital and operating cost estimates for the project, ASX-listed Cazaly Resources announced on Tuesday. The initial definitive feasibility study, completed in 2011, estimated a capital cost of... 

Court halts operations at 13 Vale dams, operations at major mine affected

By: Reuters     25th March 2019 A Brazilian court has issued an injunction ceasing operations at several tailings dams owned by mining firm Vale, the iron-ore giant said on Monday, which will hit production at a major mine. The injunction, issued in response to a motion by prosecutors in the state of Minas Gerais, requires... 

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