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Iron Ore News

Fortescue approves $287m Queens Valley development

By: Esmarie Iannucci     22nd May 2019 Iron-ore miner Fortescue Metals has approved a $287-million spend on the Queens Valley mine area, at its Solomon Hub in the Pilbara. The development of Queens would maintain the production of the low alumina Kings Fines product, and was consistent with the company’s strategy of optimising... 

Brazil iron-ore exports in rise in first half of May amid higher prices

By: Reuters     21st May 2019 Brazil's iron-ore exports rose sharply in the first half of May, data showed on Monday, recovering from a more than seven-year low in April, as higher prices encouraged sellers to close more deals internationally. Until May 17, Brazil exported 16.2-million tonnes, according to data from the... 

Vale's Gongo Soco mine dam has up to 15% chance of bursting -Brazil official

By: Reuters     21st May 2019 Brazilian miner Vale's tailings dam in the town of Barao de Cocais in Minas Gerais has up to a 15% chance of breaking, the state's environment secretary said on Monday. The dam at Vale's Gongo Soco mine is about 64 km from Brumadinho, where a tailings dam collapse unleashed a torrent of toxic... 

Vale warns Brazil prosecutors another dam at risk of collapse

By: Reuters     17th May 2019 Brazilian iron ore miner Vale SA told prosecutors in the state of Minas Gerais that a dam is at risk of rupturing at its Gongo Soco mine, about 40 miles from where its Brumadinho dam collapsed, killing more than 230 people. According to a document published on Thursday, prosecutors said Vale is... 

Billionaire Friedland close to deal with BHP on Guinea iron-ore

By: Bloomberg     17th May 2019 Billionaire mining investor Robert Friedland is close to a deal to take over an iron-ore deposit in Guinea from owners including BHP Group, according to people familiar with the situation. Friedland is in advanced talks with BHP, Newmont Goldcorp and Areva, that will see him move to develop the... 

Riley restart planned for year-end

By: Esmarie Iannucci     16th May 2019 ASX-listed Venture Minerals is looking to restart iron-ore production at its Riley direct shipping ore (DSO) project, in Tasmania, by the fourth quarter of this year. Venture on Thursday reported the launch of an updated mining study to allow for a decision to restart operations.  

Vale says may expand Carajas Serra Sul mine, doubling output

By: Reuters     14th May 2019 Brazilian miner Valesaid on Tuesday it is considering doubling the output of its Carajas Serra Sul iron-ore mine in the northern part of the country after 2020, saying the move would allow it to cut the use of tailings dams. One such dam, used to store the muddy, toxic mining debris, collapsed... 

President's correct, S Africans need to act together to realise economic opportunities – Baissac   

By: Martin Creamer     14th May 2019 President Cyril Ramaphosa is correct in stating that South Africans need to act together with urgency and boldness if they are to realise the economic opportunities before them, Eunomix CEO Claude Baissac said on Tuesday. Baissac, who was speaking to Mining Weekly Online following the finding of... 

President's correct, S Africans need to act together to realise economic opportunities – Baissac
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer about South Africa’s economic growth needs. Video: Nicholas Boyd. Photograph: Dylan Slater.

Higher export prices, weaker exchange rate to underpin Kumba’s interim financials

By: Simone Liedtke     14th May 2019 JSE-listed Kumba Iron Ore expects to deliver a stronger financial performance, underpinned by higher average iron-ore export prices and a weaker rand:dollar exchange rate for the six months ending June 30. Headline earnings and basic earnings for the period are expected to increase by 160%... 

Green light for Rio Tinto’s West Angelas expansion in the Pilbara

By: Esmarie Iannucci     14th May 2019 The Western Australian Environmental Protection Authority has approved plans by mining major Rio Tinto to expand opencut mining at its West Angelas mine, in the Pilbara. Rio, and its joint venture partners Mitsui and Nippon Steel & Sumitomo Metal, in October last year approved a $579-million... 

Fortescue soars on new dividend payment

By: Esmarie Iannucci     14th May 2019 The share price of iron-ore miner Fortescue Metals jumped more than 7% on Tuesday after the company announced a fully franked dividend of 60c a share. The new dividend brought the total amount of dividends for the 2019 financial year to date to 90c a share, inclusive of the 19c a share interim... 

Vale CFO says hopes to restore lost output within two to three years

By: Reuters     13th May 2019 Brazilian miner Vale expects to restore capacity lost after the deadly Brumadinho tailings dam burst within two to three years, executives said on Friday, emphasizing that the company is not rushing to resume full output. The dam's collapse, which came a little over three years after a similar... 

Vale CFO says hopes to restore lost output within two to three years
Vale CFO Luciano Siani

Vale posts first loss since late 2015 after fatal dam disaster

By: Bloomberg     10th May 2019 Vale reported its first quarterly loss since late 2015 as the company set aside funds to cover damages, legal costs and other obligations related to the dam disaster that left hundreds dead in January. The world’s largest iron ore producer set aside $4.5-billion and posted a loss of... 

Sector focuses on cost, project control solutions

By: Thabi Madiba     10th May 2019 While the mining sector is mainly focused on old production methods, the economy has changed the market in terms of commodities, labour structure and technology. This has led to the sector being more sensitive to cost and expenditure, which has resulted in the focus on better financial or cost... 

Sector focuses on cost, project control solutions
PLANNING PROCESS Correct project control tools manage costs better to ensure that there is no overspending on projects

Mining industry’s image in tatters following deadly Brazilian tailings dam collapse

By: Rebecca Campbell     10th May 2019 At 1.00 PM, local time, on January 25 this year, the deactivated Tailings Dam 1 of the Córrego do Feijão (“Bean Stream”) iron ore mine, owned by Brazil’s world-renowned mining group Vale and located near the small town of Brumadinho in the Brazilian State of Minas Gerais, suddenly collapsed. The... 

Mining industry’s image in tatters following deadly Brazilian tailings dam collapse

Vale iron-ore output, sales slump after deadly Brazil dam burst

By: Reuters     8th May 2019 Brazil's Vale said on Wednesday that its iron ore production and sales slumped in the first quarter from a year earlier, reflecting the impact of the deadly collapse of a tailings dam at Brumadinho in late January. Iron ore output fell 11% to 72.87-million tonnes while sales of the commodity... 

Australia's Pilbara Ports throughput drops 1% in April

By: Reuters     8th May 2019 Australia's Pilbara Ports Authority (PPA) said on Wednesday that throughput slipped 1% in April from year earlier. April's throughput was 58.8-million tonnes, the PPA said in a statement. 

Worley creating a force for the future of resources and energy 

By: Martin Creamer     7th May 2019 Following the announcement in October 2018 of WorleyParsons' binding offer for Jacobs' Energy, Chemicals and Resources, the combined new entity has come together under a new brand – Worley – involving 57 600 people across 51 countries. While financially a $3.2-billion acquisition, operationally... 

Worley creating a force for the future of resources and energy
Photo by Creamer Media Chief Photographer Dylan Slater
From left, Krish Iyer, president Middle East Africa, Francois Bosch, business development (BD) sales manager, East Africa, Denver Dreyer, senior vice president Mining Minerals and Metals (MM&M), Europe Middle East Africa, Ian Davies, senior vice president, BD & Growth MEA, Ryan Froude, operations manager, East Africa, Robert Hull, vice president, MM&M, Africa, and Ed Hanbidge, vice president, Energy Chemicals and Services, Southern and Eastern Africa.

ArcelorMittal to cut iron-ore output, slash jobs in Bosnia

By: Reuters     7th May 2019 ArcelorMittal will reduce output and cut 300 out of 800 jobs at its iron ore mines in Bosnia, the world's largest steelmaker said on Tuesday. Output will be reduced by a third to one-million tonnes and the job cuts will be carried out from September, it said in a statement. 

BHP faces $5bn claim over 2015 Brazil dam failure

By: Reuters     7th May 2019 Anglo-Australian mining giant BHP is facing a landmark, $5-billion damages claim in England for being "woefully negligent" in the run-up to a 2015 dam failure that led to Brazil's worst environmental disaster, a lawsuit alleges. The claim, which will be largest group action to be heard in... 

Rio Tinto to buy autonomous mining truck fleet from Caterpillar

By: Reuters     7th May 2019 Rio Tinto has agreed to buy a fleet of autonomous trucks and other mining equipment from Caterpillar for its new Koodaideri iron ore mine in Western Australia, it said on Tuesday. Caterpillar will supply a fleet of 20 autonomous 793F trucks as well as four autonomous blast drills for the mine,... 

JV brings Iron Ridge closer to development

By: Esmarie Iannucci     7th May 2019 Junior iron-ore developer Fenix Resources has struck a strategic alliance agreement with trucking and logistics company Minehaul, which could resulted in the accelerated development of the Iron Ridge project, in Western Australia. Under a joint venture (JV), known as Premium Minehaul, trucking... 

Vale says court halts Brucutu iron mining operations

By: Reuters     7th May 2019 Brazilian miner Vale said on Monday that a court had ordered it to halt operations at its Brucutu iron-ore mining complex, reversing a lower court decision that had allowed the mines activities to resume. Vale, which has fallen under intense scrutiny after a dam at another complex ruptured in... 

Arctic nations to meet amid tensions over environment, resources

By: Reuters     6th May 2019 Top diplomats from the US, Russia and other nations which border the Arctic meet in Finland on Monday to discuss policies governing the polar region, as tensions grow over how to deal with global warming and access to mineral wealth. Countries have been scrambling to claim territory or, like... 

Arctic nations to meet amid tensions over environment, resources

Mining body releases autonomous systems guideline

By: Nadine James     3rd May 2019 The Global Mining Guidelines Group (GMG) published the Guideline for the Implementation of Autonomous Systems in Mining last month, in an effort to assist in the implementation of these systems, which are being used more and more frequently owing to their potential for making the mining industry... 

Mining body releases autonomous systems guideline
LEADING THE WAY Rio Tinto, one of the pioneers in implementing autonomous mining systems, including autonomous trucks, assisted in the guideline's publication

Kumba maintains 2019 guidance, despite first-quarter production dip

By: Rebecca Campbell     3rd May 2019 With the release of its “Production and Sales Report” for the first quarter of this year (Q1 2019), Kumba Iron Ore Limited, part of the Anglo American plc group, has reaffirmed its guidance for total 2019 production and sales, issued in February (when it announced its annual results for 2018).... 

Condra customised crane completes Sishen’s ore spillage recovery chain

By: Nadine James     3rd May 2019 While grabbing cranes are usually large machines with wide spans and high lifting heights, the Condra grabbing crane installed in February at the railhead serving Sishen Iron Ore Mine, near Kuruman, was designed to manoeuvre through relatively tight space, Condra Cranes announced in a statement... 

Venture a step closer to Riley restart

By: Esmarie Iannucci     2nd May 2019 ASX-listed Venture Minerals has struck an offtake agreement with Singapore’s Prosperity Steel United Singapore over its Riley iron-ore mine, in Tasmania. Under the terms of a binding term sheet, Prosperity has agreed to purchase all of the product produced at the Riley mine over the first two... 

Vale minority shareholders elect independent member to board

By: Reuters     1st May 2019 Minority shareholders of Brazilian iron ore miner Vale SA succeeded in electing a representative to the board of directors at the company's shareholder meeting on Tuesday, a person who attended the meeting told Reuters. Independent member Patricia Bentes was elected under a new cumulative voting... 

Vale board confirms interim head Bartolomeo as CEO

By: Reuters     30th April 2019 Brazilian miner Vale, the biggest iron-ore producer, announced on Monday that its board has confirmed Eduardo Bartolomeo as the company's CE. Bartolomeo took over as interim head of Vale two months ago when his predecessor Fabio Schvartsman resigned after one of the company's mining dams burst in... 

Cleveland-Cliffs to sell $750m of senior notes

By: Simone Liedtke     29th April 2019 US iron-ore miner Cleveland-Cliffs on Monday announced that it intends to offer to sell, subject to market and other conditions, a $750-million aggregate principal amount of senior notes, due in 2027, in an offering that is exempt from the registration requirements of the Securities Act of 1933.... 

IBM seeks legal opinion on closed Goa mines

By: Ajoy K Das     29th April 2019 The Indian Bureau of Mines (IBM), the federal government scientific and governance body, is seeking legal opinion on iron-ore mines in the western coastal state of Goa, shuttered since last year by court orders. A Supreme Court verdict on the mining leases of 88 iron-ore mines in Goa was... 

Ferrexpo plunges as auditor, directors resign amid charity probe

By: Bloomberg     29th April 2019 Ukrainian iron-ore producer Ferrexpo plunged the most in three years as its auditor and two directors resigned amid a money laundering investigation at a charity supported by the company. Ferrexpo announced on Friday morning that Deloitte had resigned without providing any details about the... 

Ferrexpo plunges as auditor, directors resign amid charity probe

Vale shareholders push to loosen company control over board elections

By: Reuters     29th April 2019 Minority shareholders of Brazilian iron-ore miner Vale have enough votes to request that board members be elected independently using a cumulative voting system and not in a single vote approving all names proposed by controlling shareholders, the company said in a filing. Broker Vic DTVM and... 

EPA approves Eliwana rail

By: Esmarie Iannucci     29th April 2019 The Western Australian Environmental Protection Authority (EPA) has approved the construction of a 120 km dedicated railway line for iron-ore miner Fortescue’s $1.27-billion Eliwana mine. The EPA on Monday said that the approval for the Eliwana railway project followed on from extensive... 

Transnet installing new tippler to sustain iron-ore exports

By: Reuters     26th April 2019 Transnet is installing a new iron-ore tippler at the country’s main iron-ore export line in order to sustain its current output of 60-million tonnes a year, officials said on Friday at its Saldanha port terminal. The R3-billion project, which includes infrastructure such as a conveyor belt... 

Ferrexpo auditor Deloitte quits as queries remain around charity funds

By: Reuters     26th April 2019 Ferrexpo said on Friday Deloitte had resigned as its auditor with immediate effect, days after the iron-ore miner said some funds of a charity it donates to in the Ukraine could have been "misappropriated". Blooming Land, the charity which coordinates Ferrexpo's Corporate Social Responsibility... 

Cost-per-tonne guarantee reducing mine development risk

By: Martin Creamer     26th April 2019 JOHANNESBURG (miningweekly.com) – Design, build and operate project companies Evolve Mining and AMC have an approach to mine development and operation that is attracting attention. Evolve Mining designs for the lowest cost per tonne and AMC then mines at the guaranteed cost per tonne. Evolve is... 

Cost-per-tonne guarantee reducing mine development risk
Photo by Creamer Media's Dylan Slater
TREVOR GARDEN Designing for the lowest cost per tonne
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