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Iron Ore News

Iron-ore’s brutal collapse under $100 flags more trouble ahead 

By: Bloomberg     17th September 2021 Iron-ore sank below $100/t as China’s moves to clean up its heavy-polluting industrial sector spurred a swift and brutal collapse. Prices have more than halved since peaking in May as the world’s biggest steelmaker intensifies production curbs to meet a target for lower volumes this year, and a... 

Vale makes bumper $7.6bn dividend payout

By: Reuters     17th September 2021 Brazil's Vale will pay 40.2-billion real ($7.6-billion) in first-half dividends, its largest payout since the miner's 2019 dam collapse which killed almost 300 people. Vale said in a securities filing released late on Thursday that its board had approved the distribution of 8.11 reais ($1.54)... 

An image of a Vale sign

Afrimat closes Coza buyout; starts production at Jenkins

By: Donna Slater     17th September 2021 Construction materials and industrial minerals supplier Afrimat reports that all conditions precedent to a sales share agreement to buy 100% of the issued ordinary shares of Coza Mining, totalling R300-million, have been fulfilled, making the transaction unconditional. With the completion of the... 

Rio rolls out vaccine clinics

By: Esmarie Iannucci     17th September 2021 Diversified miner Rio Tinto this week officially opened the Covid-19 vaccination clinic, in Tom Price, aimed at boosting vaccination rates in the Pilbara. The clinic has been set up in partnership with the Western Australian government, and will operate through to September 21, but would return... 

Vale and Asian miner seek Brazil nod to fast-track mine projects

By: Bloomberg     17th September 2021 Mining giant Vale and an Asian-owned metals producer are among the first to tap a Brazilian program that aims to cut red tape and speed up mining projects in the South American nation. Vale and Sul Americana de Metais have qualified for a new policy adopted by Brazil’s Jair Bolsonaro... 

Venture suspends ops at Riley

By: Esmarie Iannucci     17th September 2021 ASX-listed Venture Minerals has temporarily suspended mining operations at its Riley iron-ore mine, in Tasmania, while it undertakes a review of the operation in order to identify cost efficiency measures. The suspension of operations comes after the mine achieve its first iron-ore shipment of... 

Image shows iron-ore export vessel

Rio and Caterpillar join forces on zero emissions haul trucks

By: Esmarie Iannucci     15th September 2021 Diversified major Rio Tinto has signed a memorandum of understanding with Caterpillar to advance the development of zero-emissions autonomous trucks. For use at Rio’s Western Australian mining operations. The collaboration will see Rio Tinto work with Caterpillar to advance the development of... 

Mining production up 10.3% y/y in July

By: Donna Slater     14th September 2021 Statistics South Africa (Stats SA) reports that production from South Africa’s mining industry increased by 10.3% year-on-year in July, with the largest contributors being the production of iron-ore, which was up by 42.9%, contributing 3.9 percentage points to the overall tally. Platinum group... 

South Africa’s junior mining dearth result of unintended consequence – AmaranthCX  

By: Martin Creamer     14th September 2021 South Africa’s junior mining dearth is a result of savings no longer flowing through to primary capital raising and stock exchange listings, as the Jacobs Committee expected them to do. The unintended consequence is that there are no longer small investors for small companies. This has negatively... 

Creamer Media screenshot of AmaranthCX director Paul Miller taken during Zoom interview.
AmaranthCX director Paul Miller interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Mining industry lost 23 000 jobs between 2012 and 2019 – Stats SA

By: Tasneem Bulbulia     14th September 2021 About 23 000 jobs were lost in the mining sector between 2012 and 2019, a mining industry report compiled by Statistics South Africa (Stats SA) shows. The biggest losses in jobs were recorded in the mining of gold at 42 000 and platinum group metals (PGMs) at 8 000, Stats SA said in a September... 

Another Minister comes and goes without a Kallak decision 

By: Creamer Media Reporter      14th September 2021 London-listed Beowulf Mining faces the prospect of having to engage with a third Minister over the development of its Kallak iron-ore project, in Sweden, following the announcement last week that Enterprise Minister Ibrahim Baylan would retire. Beowulf CEO Kurt Budge said in a letter addressed... 

Outlook for metals improves – Moody’s

By: Tasneem Bulbulia     13th September 2021 Credit rating business Moody's Investors Service’s outlook for the global metals and mining industry changed to stable from positive with high prices expected to fade out throughout 2022. In a new report covering iron-ore, steel, coal, aluminium, gold, silver, nickel, copper and zinc, Moody's... 

Strike unveils new plans for Paulsens East

By: Esmarie Iannucci     13th September 2021 A review of the proposed production ramp-up and export logistics at the Paulsens East iron-ore mine, Western Australia, has optimised the project’s economics and reduced the up-front capital cost estimates. ASX-listed Strike Resources on Monday said that a two-stage production schedule is now... 

Image shows a close-up of iron-ore

ArcelorMittal to triple iron-ore production in Liberia

By: Reuters     13th September 2021 ArcelorMittal signed an agreement on Friday to stay for at least 25 more years in Liberia, where it will at least triple its iron-ore production and invest an additional $800-million, the company's executive chairman and Liberia's president said. Annual production will increase to 15-million... 

An image of heavy haul trucks operating in Liberia.

Iron-ore set for second weekly loss on China demand collapse

By: Reuters     10th September 2021 Iron-ore futures in top steel producer China dropped on Friday to head for a second consecutive weekly loss, with the benchmark Dalian price hovering near its lowest in seven months on fears of more steel production curbs. The most-traded January iron-ore on the Dalian Commodity Exchange ended... 

Vale’s red-tape headache is boon for sagging iron-ore market

By: Bloomberg     10th September 2021 Brazilian red tape may keep the global iron-ore market tighter than expected after Vale lowered its forecast for production capacity because of sluggish permitting. While capacity isn’t the same as actual production, the slower-than-expected expansion will give Vale less scope to increase supply... 

Vale’s red-tape headache is boon for sagging iron-ore market

Vale sees expenses with Brumadinho disaster at $2.7bn to $3.2bn in 2021

By: Reuters     9th September 2021 Brazil's miner Vale updated on Thursday its expenses outlook for 2021, saying it expects disbursements related to the Brumadinho dam disaster to reach $2.7-billion to $3.2-billion this year. According to a securities filing, Vale also sees its financial expenses in 2021 at $0.8-billion to... 

Mining drives WA to a A$5.6bn surplus

By: Esmarie Iannucci     9th September 2021 The Western Australian government is predicting a surplus of A$5.6-billion for 2020/21, driven by a strong economy and increased revenues from the resources sector. For 2021-22, the state government is currently predicting a surplus of A$2.8-billion, with strong surpluses expected to continue... 

Rio's Canadian arm invests in rail training

By: Esmarie Iannucci     9th September 2021 Mining major Rio Tinto’s Canadian iron-ore are, the Iron Ore Company of Canada (IOC) has announced that it will invest C$750 000 over three years to support research and training at the CEGEP de Sept-Îles’ RAIL Centre of Expertise. IOC has been working in close collaboration with the CEGEP de... 

Australia and Canada to benefit from green steel revolution - Fitch

By: Esmarie Iannucci     8th September 2021 Australia, Canada and Brazil all stood to benefit from the emergence of a green steel market, researcher Fitch Solutions said. Speaking at the Hydrogen in Mining virtual conference, Fitch Solutions head of commodities analysis, Aurelia Britsch said on Wednesday that not only would low carbon... 

China’s iron-ore imports hit record in boost to Australia

By: Bloomberg     7th September 2021 The value of China’s iron-ore imports hit new heights in August even as policymakers try to cut steel production and calm commodity prices, likely boosting Australia’s exports despite the tensions between the two nations. China imported iron-ore worth a record $20-billion in August, according to... 

An image of a wagon carrying iron-ore.

Extractives sector moves to turn the tide on corruption

By: Creamer Media Reporter      7th September 2021 Governments, business and civil society are uniting in the fight against corruption in the extractives sector, demonstrating support and commitment for beneficial ownership transparency. The Extractive Industries Transparency Initiative (EITI) reports that anonymous ownership of companies can be... 

A photo of an openpit mining operation

Strength of high-flying ARM is its multiracial, multicultural character – Motsepe  

By: Martin Creamer     6th September 2021 The strength of South Africa, its businesses as well as African Rainbow Minerals (ARM) itself is its multiracial and multicultural character, which the country is privileged to have, ARM executive chairperson Dr Patrice Motsepe emphasised on Monday, when his JSE-listed company presented stellar... 

Screenshot of Dr Patric Motsepe taken from ARM website.
African Rainbow Minerals stellar financial results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Guinea bauxite prices rise on political turmoil

By: Reuters     6th September 2021 Prices for aluminium ore bauxite from Guinea hit their highest in almost 18 months in top metals consumer China on Monday, as buyers fretted about supply after a coup in the West African country. Guinea is the world's second-biggest producer of the raw material, which is refined into alumina, a... 

A ship carrying bauxite from Guinea is unloaded at a port.
A ship carrying bauxite from Guinea is unloaded at a port.

Dalian iron-ore crashes to 7-month low as China inventories rise

By: Reuters     6th September 2021 Iron-ore prices tumbled more than 6% on Monday, with the Dalian benchmark hitting its lowest in seven months, on rising portside stocks of the steelmaking ingredient in China due to increased shipments and weak domestic demand. The most-traded iron ore for January delivery on China's Dalian... 

Dalian iron-ore crashes to 7-month low as China inventories rise

ARM earnings soar 136%, dividend up double plus

By: Martin Creamer     6th September 2021 The headline earnings of diversified mining company African Rainbow Minerals (ARM) soared 136% to a record R13-billion in the 12 months to June 30. The JSE-listed company, headed by executive chairperson Dr Patrice Motsepe, declared a final dividend of R20 a share, totalling R4 489-million. This... 

Creamer Media picture of the executive chairperson of African Rainbow Minerals.
Photo by Creamer Media
ARM executive chairperson Dr Patrice Motsepe

AngloGold Ashanti's Siguiri mine in Guinea operating normally

By: Reuters     6th September 2021 AngloGold Ashanti said its Siguiri gold mine in Guinea was operating normally after the apparent ouster of Guinea's long-serving President Alpha Conde on Sunday. "We're monitoring the situation and are in close contact with the leadership of our mine in Guinea, which is operating normally," the... 

Vale starts operating driverless trucks at Carajás

By: Mariaan Webb     3rd September 2021 Iron-ore major Vale is expanding driverless technology at its operations in Brazil, launching six self-driving trucks at its Carajás complex, in Para, with another four to be introduced before the end of the year. Capable of moving 320 metric tons at a time, the autonomous trucks were being... 

An image of a haul truck.
Autonomous haul trucks parked at the Carajas iron-ore operation, in Brazil.

TFR approaches customers on security levy to raise funds for rapid security overhaul  

By: Terence Creamer     3rd September 2021 State-owned railway utility Transnet Freight Rail (TFR) is approaching its customers about instituting a three-year security levy, which will be used to raise the funding needed for the rapid deployment of technology-based security solutions across a network that is currently collapsing under the... 

A photo of a TFR locomotive

Australia can deliver on Japan's resources need - MCA

By: Esmarie Iannucci     1st September 2021 Australian miners had the ability to build on an existing trade partnership with Japan to supply critical materials to meet Japan’s current energy needs and developing the technologies of the future, including hydrogen with carbon capture storage. In its submission to the Department of Foreign... 

Russian iron-ore miner urges industry to pursue cleaner operations

By: Marleny Arnoldi     30th August 2021 The current trend in reducing carbon dioxide emissions in ferrous metallurgy will become clear with the transition from blast furnace production to the metallisation process in steel production, and with the use of direct reduced iron (DRI) and hot briquetted iron (HBI), says iron-ore and HBI... 

Govt targets August next year, or sooner, for third-party rail access  

By: Irma Venter     30th August 2021 The current target date for enabling third-party operators in the rail-freight sector is August next year, says Dr Sean Phillips, head of National Treasury’s Operation Vulindlela unit. There are, however, ongoing efforts under way to speed up the time frame put on the table by Transnet, he adds. 

An image of a Transnet rail line

Iron-ore giant plans carbon targets for customers in green pivot

By: Bloomberg     30th August 2021 Fortescue Metals Group is planning to unveil targets for reducing the carbon footprint of it biggest customers, marking a shift in approach for the world’s no. 4 exporter of iron-ore. The firm will follow rivals including Rio Tinto Group and BHP Group in setting specific goals to cut so-called... 

Fortescue Metals CEO Andrew Forrest
Fortescue Metals CEO Andrew Forrest

China Baosteel sees easing raw material prices due to steel output controls

By: Reuters     30th August 2021 China's biggest listed steel producer Baoshan Iron & Steel Co Ltd (Baosteel) on Monday said it expects cost pressure to ease with the implementation of government-mandated steel production cuts. "The company has always stuck to a low-inventory strategy. As the country is carrying out policies to... 

Fortescue posts record profit

By: Esmarie Iannucci     30th August 2021 Iron-ore major Fortescue Metals has reported a record net profit after tax of $10.3-billion for the 2021 financial year, on the back of its highest ever annual shipments of 182.2-million tonnes. The miner said on Monday that shipments exceeded guidance for the full year. 

Image shows a train at one of the Fortescue iron ore operations

Global iron-ore production growth will accelerate in the coming years – Fitch Solutions

By: Simone Liedtke     27th August 2021 Global iron-ore production growth will accelerate in the coming years, which research firm Fitch Solutions Country Risk and Industry Research says will “bring an end to the stagnation that has persisted” since iron-ore prices hit a decade-low average of $55/t in 2015. The firm forecasts that... 

An image of machinery operating on an iron-ore mine in Australia.

Machine learning reaches mineral prospecting

By: Halima Frost     27th August 2021 The partnership between mining consulting services provider The MSA Group and Canadian mining software developer Koan Analytics has resulted in machine learning being available to minerals explorers in South Africa and throughout the world. “The partnership offers access to the most advanced... 

A map of ore deposits in a x-ray type image Ontario Canada for MSA Group and Koan
MINERAL MAP Clients will be able to use machine learning technology to map mineral resources across the globe

Important link between South Africa’s mining industry and its public capital markets is broken

By: Martin Creamer     27th August 2021 With South Africa needing more listings on its stock exchanges, what can be done to encourage companies in general and junior mining companies in particular to go public? A lot of the building blocks are in place. South Africa has a stock exchange that punches way above its weight relative to the... 

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