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Iron Ore News

Kogi Iron sees ongoing interest in Nigeria-based cast steel project

By: Simone Liedtke     7th April 2020 ASX-listed Kogi Iron is seeing ongoing interest from potential new investors in its Agbaja cast steel project, in Nigeria, where Kogi is starting to see global capital flows to the commodity sector. Owing to the rapid escalation and global impacts of the coronavirus, or Covid-19, Kogi and KCM... 

Covid-19 preventing shareholders from attending Anglo AGM

By: Martin Creamer     7th April 2020 Shareholders will not be permitted to attend this year’s annual general meeting (AGM) of Anglo American because of Covid-19 restrictions – but they have been invited to submit questions in advance for answering at the AGM. The London- and Johannesburg-listed diversified mining company said in a... 

Anglo going to great lengths to support South Africa in its Covid-19 hour of need 

By: Martin Creamer     6th April 2020 Diversified mining company Anglo American is going to remarkable lengths to support South Africa through the devastating Covid-19 crisis. The London- and Johannesburg-listed company, headed by Australian Mark Cutifani, is showing far-reaching corporate humanitarianism by taking firm steps to... 

Anglo going to great lengths to support South Africa in its Covid-19 hour of need
Photo by Bloomberg
Mark Cutifani

Fortescue, ATCO to build, operate hydrogen fuelling facilities in Western Australia

By: Reuters     6th April 2020 Australia's Fortescue Metals Group said on Monday it had signed a deal with the local unit of Canadian utilities company ATCO Ltd to build and operate hydrogen refuelling facilities for vehicles in Western Australia. To start with, the two firms will work towards building and operating a... 

ARM’s iron-ore mines allowed to continue loading from stockpile

By: Marleny Arnoldi     3rd April 2020 JSE-listed diversified miner African Rainbow Minerals (ARM) advises shareholders that its joint venture subsidiary, Assmang, has been granted permission from Mineral Resources and Energy Minister Gwede Mantashe to operate its iron-ore load-out stations. The Khumani and Beeshoek mines are... 

Canada metals, mining sees 19.4% rise in deal activity

By: Simone Liedtke     3rd April 2020 Canada’s metals and mining industry saw a rise of 19.4% in overall deal activity during February, when compared with the last 12-month average, according to analytics and consulting company GlobalData’s deals database. A total of 43 deals worth $430.7-million were announced in February, compared... 

Brazil mining regulator orders closure of 25 Vale dams

By: Reuters     3rd April 2020 Brazil's National Mining Agency (ANM) said on Thursday that it would halt operations at 47 mining dams that failed to certify their stability, including at least 25 belonging to the world's largest iron-ore producer Vale. The safety of Vale's facilities have been under heavy scrutiny after one... 

Brazil mining regulator orders closure of 25 Vale dams

Fund managers see once-in-decade shot in Brazil’s iron-ore giant

By: Bloomberg     3rd April 2020 Investors have been piling into shares of the world’s largest iron-ore producer, touting it as one of the biggest opportunities to emerge from the carnage in Brazilian markets. Vale sank to a three-year low in March amid the coronavirus outbreak that has disrupted production chains across the... 

Standard Bank meeting all capital and liquidity requirements 

By: Martin Creamer     1st April 2020 Capital and liquidity requirements across all the markets in which it operates are continuing to be met, Standard Bank Group FD Dr Arno Daehnke said during an investor call. Daehnke disclosed that the bank was benefitting from building up increased capital levels over the last few years in line... 

Standard Bank meeting all capital and liquidity requirements
Sim Tshabalala

A billionaire miner is using China ties to source virus supplies

By: Bloomberg     1st April 2020 Australian billionaire Andrew Forrest has spent more than a decade feeding China’s steel-making boom – now he’s leveraging his ties there to source medical supplies for the battle against the coronavirus Down Under. Forrest’s Minderoo Foundation has pledged A$160-million to source equipment from... 

Vale says resumption of lost capacity could be slowed

By: Reuters     31st March 2020 Brazilian mining company Vale said on Tuesday it was at risk of postponing the resumption of lost production capacity due to possible coronavirus-related delays in inspections, assessments and authorizations but that existing output so far had seen little impact. The risks, representing a fresh... 

Vale says resumption of lost capacity could be slowed

African Rainbow Minerals financial director to step down

By: Martin Creamer     31st March 2020 South Africa’s diversified black-controlled mining and minerals company African Rainbow Minerals (ARM) on Tuesday announced that its FD Abigail Mukhuba would be stepping down with effect from the end of September to pursue a new career, and that ARM senior executive finance: corporate and tax... 

Assore halts mines and smelters, prioritises on-time supplier payment

By: Martin Creamer     31st March 2020 Mining and marketing company Assore, which is delisting from the Johannesburg Stock Exchange after 70 years, on Tuesday informed its shareholders that it had taken lockdown steps following the increased incidents of COVID-19 in South Africa. Assmang, which is half owned by Assore and jointly... 

Assore halts mines and smelters, prioritises on-time supplier payment
Photo by Creamer Media
Charles Walters

China iron ore futures pick up after factory activity unexpectedly expands

By: Reuters     31st March 2020 Chinese iron-ore futures picked up in early trade on Tuesday, rising more than 1% on demand hopes after the world's second-biggest economy reported an unexpected growth in its factory activities in March. China's official Purchasing Managers' Index (PMI) jumped to 52 this month from a record low... 

Flinders raises cash to repay loans

By: Esmarie Iannucci     31st March 2020 Iron-ore junior Flinders Mines is hoping to raise A$14.52-million through a one-for-six non-renounceable entitlement offer, priced at 2.5c a share. The entitlement offer would consist of more than 580.86-million shares, and would be issued on the basis of one new share for every six existing... 

Fitch Solutions says volatility to continue driving metals prices lower

By: Simone Liedtke     30th March 2020 Research agency Fitch Solutions expects volatility to continue playing to the downside for metal prices in the coming weeks owing mainly to bearish investor sentiment on the back of the widespread Covid-19 pandemic. The agency notes that metal prices started the year on a strong footing as the... 

Fitch Solutions says volatility to continue driving metals prices lower

Mining could be enormous post-virus stabiliser – Minerals Council

By: Martin Creamer     29th March 2020 The mining industry could be an enormous asset in stabilising and growing the economy post the coronavirus crisis – but the right economic and regulatory circumstances would have to prevail, Minerals Council South Africa stated in a weekend media release. Post coronavirus, South Africa would... 

ARM, Motsepe family play key roles in R1bn coronavirus pledge

By: Martin Creamer     28th March 2020 South Africa’s diversified black-controlled mining and minerals company African Rainbow Minerals (ARM) and the Motsepe family on Saturday formed the key part of the partnership of companies and organisations that have pledged R1 billion to assist with the current coronavirus (Covid-19) pandemic... 

ARM, Motsepe family play key roles in R1bn coronavirus pledge
Photo by Creamer Media
Dr Patrice Motsepe and Dr Precious Moloi-Motsepe at Saturday's remote media conference using the Internet to ensure social distance.

Anglo American cuts South African iron-ore, coal guidance 

By: Donna Slater     27th March 2020 Diversified miner Anglo American is taking steps at its relevant operations in line with Covid-19-related regulations enforced in the various jurisdictions in which it operates around the world. It will also continue to provide a number of essential services, including security; mine... 

Coronavirus uncertainty sinks Alderon’s deal with Tunghsu

By: Mariaan Webb     27th March 2020 The volatility and uncertainty created by the outbreak of the Covid-19 pandemic has scuppered a potential deal that Canadian junior Alderon Iron Ore agreed with a Chinese partner and has now left the company scratching for money to repay a loan due by the end of this month. Alderon said on... 

Coronavirus uncertainty sinks Alderon’s deal with Tunghsu

Fe sells iron-ore royalty

By: Esmarie Iannucci     27th March 2020 Junior Fe Limited has entered into a sale and purchase agreement with LSX-listed Trident Resources for its Evaston royalty interest, over a portion of the wider Koolyanobbing iron-ore mine, in Western Australia. The sales price of A$7-million in cash will be paid in two installments, with the... 

Mining to be ‘scaled down significantly’ during 21-day lockdown 

By: Terence Creamer     25th March 2020 Mining operations in South Africa are to be “scaled down significantly” during the 21-day lockdown period, particularly labour-intensive, deep-level mining activities, Mineral Resources and Energy Minister Gwede Mantashe reported on March 25. However, mines supplying coal to Eskom would remain in... 

Mining to be ‘scaled down significantly’ during 21-day lockdown

China's first iron-ore futures ETF raises $11m ahead of Friday debut

By: Reuters     25th March 2020 China's first iron ore futures-based exchange traded fund (ETF) has raised $11-million from institutional investors and clients at private banks, according to the manager of the fund, which will list in Hong Kong on Friday. The ETF, managed by the Hong Kong unit of Chinese broker Shanxi... 

China's first iron-ore futures ETF raises $11m ahead of Friday debut

Strike tips Utah Point as preferred port

By: Esmarie Iannucci     25th March 2020 ASX-listed Strike Resources has tipped Utah Point, at Port Hedland, as the preferred port destination for its Paulsens East iron-ore project, in Western Australia. A trade-off study focused on Port Hedland, which has existing infrastructure that could be used to bring Paulsens East into... 

Vale taps credit as virus heaps on strain after dam breach

By: Bloomberg     24th March 2020 Vale SA is tapping into $5-billion in credit lines to boost its cash position as the coronavirus pandemic forces cutbacks at a time when the iron ore producer was working to recover from a dam collapse last year. Vale asked banks to disburse the lines in two tranches, with $2-billion due in June... 

South African miners preparing for three-week lockdown 

By: Simone Liedtke     24th March 2020 Various South African mining companies have pledged their support for President Cyril Ramaphosa’s Covid-19 directives and range of measures in respect of mitigating the impact of the pandemic on South Africa’s economy. The pledges follow the President’s address to the nation on Monday evening,... 

South African miners preparing for three-week lockdown
Photo by Creamer Media
President Cyril Ramaphosa

If we don’t take climate change seriously, God help us – Mxolisi Mgojo   

By: Martin Creamer     23rd March 2020 Coal mining company Exxaro Resources, which acknowledges coal’s negative impact on climate in a 20-page publication just released, expresses the view that a just transition to a low-carbon future should inform global climate action. “If we don’t take climate change issues very, very seriously,... 

If we don’t take climate change seriously, God help us – Mxolisi Mgojo
Exxaro CEO Mxolisi Mgojo presentation covered by Mining Weekly’s Martin Creamer. Video Editing: Nichols Boyd. Photograph: Donna Slater. Video: Kutlwano Matlala.

Fortescue continues despite Covid-19

By: Esmarie Iannucci     23rd March 2020 Iron-ore major Fortescue Metals on Monday said that it would continue to operate its mine sites in the Pilbara, despite the Western Australian government implementing strict border controls that would require all new inter-state arrivals to self-isolate for a period of 14 days. “Fortescue has... 

Anglo takes companywide measures to limit spread, mitigate impacts of Covid-19 

By: Marleny Arnoldi     20th March 2020 Global diversified miner Anglo American has announced the measures that it is taking in light of the Covid-19 outbreak across its mining and corporate operations. CE Mark Cutifani says the measures are often tailored to the specific nature and location of a particular site to protect the... 

Anglo takes companywide measures to limit spread, mitigate impacts of Covid-19

Iron-ore prices resilient, activity levels healthy – S&P Global Platts

By: Reuters     17th March 2020 S&P Global Platts, which produces an iron ore benchmark index, said on Monday iron-ore prices have been resilient and activity levels have remained healthy recently. On Sunday, the China Iron & Steel Association (CISA) had warned about speculation risks in the market as the iron ore index was... 

China steel assoc warns of iron-ore speculation risks amid market fluctuations

By: Reuters     16th March 2020 China Iron & Steel Association (CISA) warned about speculation risks in the market, as the trend for the iron-ore index was deviating from the supply and demand fundamentals and the spot market, the Xinhua official news agency reported on Sunday. Benchmark Platts iron-ore index had surged 15%,... 

Vale adds sustainability goals to long-term compensation

By: Reuters     16th March 2020 Brazilian miner Vale has included environmental, social and governance goals to the long-term variable compensation of its top management and resumed 2019 bonus payments, according to a securities filing on Saturday. The move comes as Vale's reputation was hurt after its tailings dam at... 

Exxaro lifts dividend, creates jobs, supports enterprises 

By: Martin Creamer     12th March 2020 Black-controlled diversified resources group Exxaro, which created 746 jobs and supported 30 small, medium-sized and microenterprises in the twelve months to December 31, reported a R235-million top-line 2019 increase, raised its dividend payout and lifted headline earnings a share. Core earnings... 

Exxaro lifts dividend, creates jobs, supports enterprises
Photo by Creamer Media's Donna Slater
Exxaro CEO Mxolisi Mgojo.

Anglo American to buy solar power for Brazil mine

By: Mariaan Webb     11th March 2020 Global miner Anglo American has signed a 15-year contract to buy electricity generated from a photovoltaic plant owned and operated by Atlas Renewable Energy for its iron-ore mining operations in Brazil. The Casablanca solar plant, located in Minas Gerais, will supply 613GWh from 2022. Atlas... 

Anglo American to buy solar power for Brazil mine

Assore to delist from JSE, offers to buy back shares

By: Martin Creamer     9th March 2020 Mining company Assore, which has been listed on the JSE since 1950, has announced a transaction that will result in the minorities in the company being bought out and the company delisting from the exchange. Commenting on the transaction, Assore CEO Charles Walters said that the very low... 

Assore to delist from JSE, offers to buy back shares
Photo by Creamer Media
Charles Walters

Coronavirus likely to cause drastic price falls – Menar  

By: Martin Creamer     9th March 2020 The reduction in the consumption of mined products that the coronavirus was causing would likely result in a drastic fall in prices, Menar MD Vuslat Bayoğlu said on Monday. Metals and minerals like manganese, chrome, iron-ore and metallurgical coal were not being consumed at the rate they were... 

Coronavirus likely to cause drastic price falls – Menar
Menar MD Vuslat Bayoğlu interviewed by Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Vale says part of Gongo Soco mine continues to erode

By: Reuters     9th March 2020 Brazilian miner Vale said the company is monitoring its Gongo Soco mine in Barao dos Cocais as an embankment at the facility continues to erode, according to a securities filing on Monday. Vale said it is watching for any impact the erosion could have on the Sul Superior mining waste dam about... 

Brazil state authority defends licensing Anglo American facility expansion

By: Reuters     6th March 2020 A Brazilian state environmental authority on Thursday defended granting a licence to miner Anglo American to expand an iron-ore facility, including a mining waste dam, following a lawsuit by public prosecutors seeking to block the project. Minas Gerais, a major mining state, passed a law... 

Brazil state authority defends licensing Anglo American facility expansion
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