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Iron Ore News

Rio investing in Tom Price community

By: Esmarie Iannucci     Updated 1 hour 22 minutes ago Major Rio Tinto has awarded some A$500-million worth of contracts to Western Australian and Pilbara Aboriginal businesses to support the latest development of its Greater Tom Price operations. The miner noted that construction of the Western Turner Syncline Phase 2 (WTS2) expansion started in... 

Tycoon Usmanov’s firms to build plant for greener iron products

By: Bloomberg     1st March 2021 Companies controlled by billionaire Alisher Usmanov will build a plant in central Russia to supply greener products used to make steel amid a growing focus to clean up the industry. A joint venture between USM and its Metalloinvest Holding's iron-ore mine will invest 40-billion rubles... 

Tycoon Usmanov’s firms to build plant for greener iron products
Alisher Usmanov

Anglo CEO talks hydrogen, recycling, Scope 3, material solutions provision  

By: Martin Creamer     1st March 2021 The surge of the hydrogen economy, the need to recycle, halving Scope 3 emissions through iron-ore-linked green steelmaking, assisting South Africa to create new industries, and becoming a one-stop material solutions provider, were among the issues discussed by Anglo American CEO Mark Cutifani in... 

Anglo CEO talks hydrogen, recycling, Scope 3, material solutions provision
Anglo American CEO Mark Cutifani interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Vale bullish on metal prices, seeks to accelerate copper projects

By: Reuters     1st March 2021 Executives at Brazil's Vale, the world's second largest iron-ore producer, said premiums for the commodity were at a "unique moment" and that they were also confident regarding the trajectory of copper in 2021. In a conference call with analysts to discuss the company's 2020 financial results,... 

Vale bullish on metal prices, seeks to accelerate copper projects
Vale head of ferrous metals Marcello Spinelli

Fitch raises metals, mining price assumptions in line with returning demand, low inventories 

By: Donna Slater     26th February 2021 Ratings agency Fitch Ratings has revised some of its metals and mining price assumptions in line with that it sees as commodity prices being set to benefit in the short term from returning demand, as well as slow supply response and low inventories. The agency’s revision of all iron-ore price... 

Fitch raises metals, mining price assumptions in line with returning demand, low inventories

Vale books hefty dam disaster charges, but bullish about core earnings

By: Reuters     26th February 2021 Brazil's Vale logged $4.9-billion in provisions related to the Brumadinho dam disaster in quarterly earnings, but its ferrous metal division turned in a strong performance and the miner was upbeat about the outlook for key products. Some $3.9-billion of the provisions are part of a recently... 

Vale books hefty dam disaster charges, but bullish about core earnings

Test mine study under way for Fourth Industrial Revolution try-outs  

By: Martin Creamer     24th February 2021 A feasibility study is under way on a mine selected for the testing of Fourth Industrial Revolution (4IR) technologies ahead of their implementation, Minerals Council South Africa senior executive modernisation and safety Sietse van der Woude said on Wednesday. Van der Woude was answering... 

Test mine study under way for Fourth Industrial Revolution try-outs
Joburg Indaba Modernisation in Mining virtual event covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Fortescue apologises for clearing land on Aboriginal sacred site

By: Reuters     24th February 2021 Australia's Fortescue Metals Group has apologised to an Aboriginal group for clearing land on a heritage site while flouting a government condition for representatives of the community to be present when the damage took place. It is the week's second such incident, despite pressure on Australian... 

Mining growth projects add glimmer of hope in dreary economic climate

By: News24Wire      24th February 2021 As mining companies turn to domestic growth-development projects, their spending spree may be what the sector needs to lift it from a slump it has endured for many years.  Companies such as platinum mining giant Sibanye-Stillwater and Kumba Iron Ore have led the way in ploughing cash into their... 

Brazil's BNDES closes out its stake in miner Vale

By: Reuters     23rd February 2021 Brazilian development bank BNDES has closed out its stake in miner Vale, selling 188.5-million shares and raising around 11-billion reais ($2-billion), the bank confirmed in a statement on Tuesday. The sale of the 3.6% stake in the miner, carried out by the bank's equity arm BNDESPar, comes as... 

Former Australian PM Turnbull joins Fortescue's green unit

By: Reuters     23rd February 2021 Former Australian Prime Minister Malcolm Turnbull has joined Fortescue Metals Group's new green energy development company as chairman of its Australian unit, the iron ore miner said on Tuesday. Turnbull, who served as prime minister from 2015 to 2018, will head Fortescue Future Industries... 

Former Australian PM Turnbull joins Fortescue's green unit
Malcolm Turnbull

Kumba declares 30% higher dividend, delivers record Ebitda

By: Marleny Arnoldi     23rd February 2021 JSE-listed Kumba Iron Ore has declared a final dividend of R41.30 apiece, bringing the total dividend declared for the year ended December 31, 2020, to R60.90 apiece. The dividend marks a 30% increase compared with the dividend paid out for the year ended December 31, 2019, on the back of... 

Kumba declares 30% higher dividend, delivers record Ebitda
Photo by Creamer Media
Kumba's Kolomela mine, in the Northern Cape

Australian iron-ore and coal exports fall in January

By: Esmarie Iannucci     23rd February 2021 New data by the Australian Bureau of Statistics (ABS) has reported a A$3-billion, or 9% decline in exports for the month of January, driven by a A$1.5-billion, or 10% decline in the export of metalliferous ores. “The decline in metalliferous ores was driven by a decline in the quantity of... 

Australian iron-ore and coal exports fall in January

Rio's iron-ore growth projects remain on track

By: Esmarie Iannucci     22nd February 2021 Mining major Rio Tinto is on track to start iron-ore production from a range of new mines in the Pilbara during 2021. In its annual report, Rio noted that it was progressing its $2.6 billion Gudai-Darri iron-ore mine, with key construction activities on schedule. 

Rio's iron-ore growth projects remain on track

Fe raises funds to fast track JWD

By: Esmarie Iannucci     19th February 2021 Junior Fe Limited will raise A$5.5-million through a share placement to fast-track its iron-ore projects in Western Australia and the Northern Territory. The company this week reported that it had received firm commitments from sophisticated and professional investors for the placement of... 

Fenix's Iron Ridge ships first ore

By: Esmarie Iannucci     19th February 2021 First ore from the Iron Ridge mine, in Western Australia, has departed from the Port of Geraldton, with the next export vessel scheduled to arrive in late February. ASX-listed Fenix Resources on Friday said that previously reported mechanical issues with the Ya Tai 2 carrier had resulted in only... 

Rio unveils new shipping service to Singapore

By: Esmarie Iannucci     19th February 2021 A new commercial freight shipping service connecting the Pilbara to Singapore has been secured by mining major Rio Tinto. “This is an important new service that connects the Pilbara to the rest of the world via the major international shipping hub of Singapore. It will provide a number of... 

Transnet adjusts infrastructure strategy to deal with damaging weather conditions

By: Donna Slater     18th February 2021 State-owned Transnet is investigating methods to deal with unpredictable and severe weather patterns, which have negatively affected the railway network during and after cyclone Eloise hit Southern Africa in late January, resulting in heavy rainfall across South Africa. Transnet Freight Rail... 

Transnet adjusts infrastructure strategy to deal with damaging weather conditions
The results of a recent wash-away incident

Sundance prepares for arbitration over Congo mine project

By: Reuters     18th February 2021 Australia's Sundance Resources said on Thursday it was advancing its plans to start international arbitration proceedings against Republic of Congo after the African country cancelled its Nabeba iron ore project in December. Sundance, which delisted from the Australian Stock Exchange on December... 

Iron-ore prices drive record interims for Fortescue

By: Esmarie Iannucci     18th February 2021 Record shipments, earnings and operating cashflow for the half-year ended December have seen iron-ore miner Fortescue Metals delivering a 93% increase in interim dividends to shareholders. Ore shipments for the six months under review were up by 2% on the previous corresponding period, to... 

Iron-ore prices drive record interims for Fortescue

First ore from Iron Bridge delayed

By: Esmarie Iannucci     18th February 2021 Iron-ore miner Fortescue Metals has pushed back first production from its Iron Bridge magnetite mine, in the Pilbara, to the second half of 2022, confirming cost blow-outs on Thursday. The miner said that a review into the Iron Bridge mine had upwardly revised the capital cost of the project... 

Former De Beers executive promotes commodities recycling for a strengthened circular economy

By: Donna Slater     17th February 2021 The mining value chain plays a vital role in sustaining a circular economy, says mining executive and former De Beers Botswana CEO Sheila Khama. She explains, during a video interview with Zambian mining lobby organisation Mining for Zambia, that because mineral resources are finite, closer... 

Rio u-turns on emissions as new CEO takes climate-change journey

By: Bloomberg     17th February 2021 Rio Tinto Group has set goals for lowering the greenhouse gas emissions of its customers, reversing an earlier stance that it has no control over how steelmakers use the iron ore it mines. Rio had been at odds with some of its biggest rivals amid a debate about who bears responsibility for Scope... 

Rio u-turns on emissions as new CEO takes climate-change journey

ARM expects headline earnings to more than double

By: Donna Slater     16th February 2021 JSE-listed diversified miner African Rainbow Minerals (ARM) reports that its headline earnings for the first half of its 2021 financial year are expected to increase by between 129% and 138%, to between R4.93-billion and R5.12-billion. This compares with the R2.15-billion in headline earnings... 

Rio Tinto explores low-carbon iron production in Canada

By: Mariaan Webb     16th February 2021 Global miner Rio Tinto has teamed up with two partners to explore the production of a low-carbon steel feedstock, using green hydrogen generated from hydro-electricity in Canada. The partnership, which also includes international engineering company Paul Wurth and European steelmaker... 

Rio Tinto explores low-carbon iron production in Canada
Rio Tinto's Iron Ore Company of Canada will supply high-grade iron-ore for the study.

Heads roll at Fortescue

By: Esmarie Iannucci     16th February 2021 Iron-ore major Fortescue Metals has reported the immediate resignation of COO Greg Lilleyman as the company battles to contain costs at its Iron Bridge operation, in the Pilbara. Fortescue earlier confirmed that it was "reviewing" the cost and schedule of its $2.6-billion Iron Bridge magnetite... 

Iron-ore prices to trend lower in first six months of 2021

By: Tasneem Bulbulia     15th February 2021 The surge in iron-ore price between the second and fourth quarter of 2020 has run its course, says Fitch Solutions Country Risk and Industry Research. It notes that prices should grind lower during the first half of this year as supply improves and demand growth slows. 

Autonomous vehicles drive off at Chichester Hub

By: Esmarie Iannucci     15th February 2021 Iron-ore major Fortescue Metals has deployed autonomous light vehicles (ALVs) at its mining operations in the Chichester Hub. The company on Monday reported that the ALVs were developed by Fortescue’s Technology and Autonomy team as a solution to improve the efficiency of the Christmas Creek... 

Autonomous vehicles drive off at Chichester Hub

Major enters scandium market

12th February 2021 Diversified major Rio Tinto will become the first producer of high-quality scandium oxide in North America, with construction of a new commercial-scale demonstration plant underway at its Rio Tinto Fer et Titane (RTFT) metallurgical complex in Sorel-Tracy, Quebec. 

Major enters  scandium market
MULTIFACETED Scandium oxide is used to improve the performance of solid oxide fuel cells, which are used as a power source for data centres and hospitals, as well as in niche products such as lasers and lighting for stadiums or studios

Positive progress at ‘mine of the future’

By: Halima Frost     12th February 2021 Global automation company ABB says operators at the Sustainable Underground Mining (SUM) future mine project, have been able to make use of new remote technological systems implemented by the company since September 2020. The SUM project aims to establish a new world standard for sustainable... 

Positive progress at  ‘mine of the future’
SUM IT UP The Sustainable Underground Mining future mine project sums up the aspirations of the mining sector in regards to sustainable mining

ArcelorMittal South Africa reports second-half profit as supply squeeze lifts prices 

By: Terence Creamer     11th February 2021 Steelmaker ArcelorMittal South Africa (AMSA) return to profit in the second half of its 2020 financial year on the back of steel-shortage-induced price rises that negatively affected many domestic downstream consumers and have led to growing calls for a lifting of import protection. The... 

ArcelorMittal South Africa reports second-half profit as supply squeeze lifts prices

V-shaped economic recovery to help surface miners recover, says economist

By: Donna Slater     9th February 2021 With signs of a V-shaped economic recovery, economist Dr Roelof Botha says the surface mining industry will recover in line with hard lockdown’s ending and increased demand for building materials. Speaking during a recent 250 member attended webinar on behalf of surface mining industry... 

Vale invests in company targeting carbon-free steel

By: Creamer Media Reporter      9th February 2021 Brazilian major Vale has acquired a minority stake in Boston Metal to promote the development of technology focused on steel decarbonisation. Boston Metal is a pre-operating company, founded in 2012 by professors from the Massachusetts Institute of Technology (MIT), whose objective is the... 

Reedy Lagoon eyes 'green iron'

By: Esmarie Iannucci     9th February 2021 Minerals explorer Reedy Lagoon Corporation has entered into an agreement with Dinsdale Consultants and Smelt Tech Consulting to establish  ‘green iron’ production in Western Australia. The ‘green iron’ production center would use the Rio Tinto-developed HIsmelt technology to smelt magnetite from... 

A new commodities boom beckons when pent-up demand is unleashed

By: Bloomberg     8th February 2021 The eventual end of the coronavirus pandemic is likely to herald a consumption boom, piling pressure on precarious supply chains and boosting raw material prices, according to the Merchant Commodity Fund. “There’s a huge amount of pent-up demand in the consumer pocket,” said Doug King, head of... 

Modernisation in South Africa will attract new investment, offer opportunities for industry 

By: Simone Liedtke     5th February 2021 Demonstrating that modernisation in South Africa is possible will attract new investment and offer opportunities for the mining industry, while simultaneously promoting the country as an attractive mining investment location, says Boston Consulting Group (BCG) MD and partner Tycho Mőnks. This... 

Modernisation in South Africa will attract new investment, offer opportunities for industry
Boston Consulting Group (BCG) MD and partner Tycho Mőncks talks to Creamer Media's Simone Liedtke about the benefits of modernisation, and touches on the Covid-19 pandemic. Video: Recorded on Zoom. Editing: Creamer Media's Nicholas Boyd.

Iron-ore, gold and copper set export records

By: Esmarie Iannucci     5th February 2021 New data by the Australian Bureau of Statistics (ABS) has revealed record high export revenue from iron-ore, gold and copper in 2020. The ABS revealed that Australia’s resources exports, including minerals, metals and energy commodities in 2019 generated A$270 billion in export revenue for the... 

Iron-ore, gold and copper set export records

Vale signs $7bn settlement dispute over Brazil dam break

By: Bloomberg     5th February 2021 Vale reached a settlement agreement with Brazilian authorities for a dam collapse that killed 270 people and led to production cutbacks that stripped the company of the title of world’s biggest iron-ore producer. The agreement comes around the two-year anniversary of the Brumadinho disaster,... 

Vale signs $7bn settlement dispute over Brazil dam break
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