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Iron Ore News

Judgment reserved at Mining Charter review hearing 

By: Martin Creamer     7th May 2020 A full bench has heard the application for a judicial review of certain aspects of the Mining Charter gazetted in September 2018. Judge President Mlambo, judges Vally and  Van Der Schyff reserved judgment on the application lodged by the Minerals Council South Africa on March 27, 2019, when the... 

Steel production likely to stagnate or decline this year, says Roskill 

By: Simone Liedtke     5th May 2020 Steel production in developed economies is likely to either stagnate, or decline completely, as the Covid-19 pandemic continues to influence and impact on the global economy, consultancy Roskill steel alloys principal consultant Erik Sardain said on May 5. Speaking in a webinar, he explained... 

Steel production likely to stagnate or decline this year, says Roskill
Roskill steel alloys principal consultant Erik Sardain discusses the impact of Covid-19 on the global steel industry. Video: Creamer Media's Kutlwano Matlala. Editing: Creamer Media's Nicholas Boyd.

Even proxy advisers are split over mining’s emissions debate

By: Bloomberg     5th May 2020 Key investor advisory groups are divided on whether Rio Tinto shareholders should support a demand for the world’s No. 2 miner to extend the range of its targets to reduce greenhouse gas emissions. Institutional Shareholder Services is recommending Rio investors support a resolution tabled by an... 

Even proxy advisers are split over mining’s emissions debate

Exxaro provides more Covid relief, releases ESG report plus financials 

By: Martin Creamer     4th May 2020 Diversified mining and renewable energy company Exxaro on Monday pledged a further R3.45-million aid in response to the Covid-19 pandemic, while also releasing its integrated sustainability report and making available its audited financial statements for 2019. The latest R3.45-million to assist... 

Exxaro provides more Covid relief, releases ESG report plus financials
Photo by Creamer Media's Donna Slater
Exxaro CEO Mxolisi Mgojo

Iron-ore mine to restart in NT

By: Esmarie Iannucci     4th May 2020 The Northern Territory government has granted privately held British Marine approval to restart mining at the Nathan River iron project. British Marine took over the former Western Desert Resources Roper Bar iron-ore mine 2017 after that company went into liquidation, and in February 2018 was... 

Fortescue ups output expectations

By: Esmarie Iannucci     30th April 2020 Iron-ore major Fortescue metals has reported record third quarter iron-ore shipments, with tonnage up by 10% on the previous corresponding period, reaching 42.3-million tonnes. In the year-to-date, iron-ore shipments reached a record 130.9-million tonnes. C1 costs for the quarter under review... 

Robust iron-ore price to erode as steelmakers shut furnaces

By: Reuters     30th April 2020 The price of iron-ore is set to drift lower in coming months as the coronavirus pandemic eats away at demand, moderating its outperformance against other industrial commodities this year. Iron ore has given up about 10% so far this year compared to 40% for the Refinitiv/CoreCommodity CRB index... 

Robust iron-ore price to erode as steelmakers shut furnaces

Alderon loses its Kami iron-ore project as it defaults on Sprott loan

By: Mariaan Webb     29th April 2020 TSX-listed Alderon Iron Ore has confirmed that Sprott Resource Lending would seize the Kami iron-ore project, in the Labrador Trough, after the junior miner failed to repay a $14-million loan that was due by the end of last month. Alderon said it had explored “all available alternatives”,... 

Alderon loses its Kami iron-ore project as it defaults on Sprott loan
Alderon has lost its Kami project, in Labrador.

Vale cuts capex as coronavirus hinders operations

By: Reuters     29th April 2020 Brazilian iron-ore miner Vale cut its forecast for 2020 capital expenditure on Tuesday and warned that the novel coronavirus could hinder medium-term production, underlining the impact of the outbreak on the labor-intensive mining industry. In a securities filing in which it divulged... 

Morale high as Covid-masked South African miners get back to work 

By: Martin Creamer     28th April 2020 Morale is reportedly high as Covid-masked and physically distanced South African mineworkers get back to mining underground for companies that have gone the extra mile to ensure that they have been fully remunerated and host communities generously funded during the national lockdown. In a... 

Morale high as Covid-masked South African miners get back to work
Mineworkers with personal protective equipment.

CEO of Russian mining company Metalloinvest dies at 52

By: Reuters     28th April 2020 Andrey Varichev, CEO of Russian mining company Metalloinvest, died on Monday at the age of 52 following a serious illness, the company said in a statement. Varichev had been CEO at Metalloinvest, one of the world's largest producers of iron ore, since 2009. He had developed a form of pneumonia... 

Opencast mines may return to 100% of capacity from May 1 – Patel

By: Martin Creamer     27th April 2020 Opencast mines are permitted to return in phases to 100% operation from May 1 but underground mines must continue at 50% of production capacity, Trade and Industry Minister Ebrahim Patel said on Saturday. Speaking during a media briefing covered by Mining Weekly on South Africa’s easing from the... 

Opencast mines may return to 100% of capacity from May 1 – Patel
Openast mines like this one may return to 100% production capacity.

Learning curve still too steep to define ‘best practice’ mining response

By: Martin Creamer     27th April 2020 The rapidly evolving Covid-19 crisis learning curve is still too steep to conclusively define what a ‘best practice’ response looks like from the mining industry, says the International Council on Mining and Metals (ICMM), which is facilitating a rapid exchange of information and knowledge to... 

Learning curve still too steep to define ‘best practice’ mining response
ICMM CEO Tom Butler

Miners will weather the year, despite Covid-19, says Fitch

By: Simone Liedtke     24th April 2020 While Fitch Solutions Macro Research has long held the view that major miners are better positioned to weather unexpected storms, grow further and tackle new challenges, the ratings agency has questioned whether this would be the case with the Covid-19 pandemic – which brings with it operational... 

Champion ramps up work at Bloom Lake

By: Esmarie Iannucci     24th April 2020 Dual listed Champion Iron told shareholders on Friday that the company would start ramping-up operations at its Bloom Lake mining complex, in Quebec, after the provincial government declared mining to be a ‘priority service’. The announcement meant that the ASX and TSX-listed company would be... 

Champion ramps up work at Bloom Lake

Kumba adds to liquidity with cost saving, capex deferral 

By: Martin Creamer     23rd April 2020 Iron-ore mining company Kumba Iron Ore said on Thursday that it was targeting a cost saving of R325-million and deferral of R1-billion of non-critical capital expenditure (capex) as a measure of prudence in the face of broad-based economic uncertainty across the world’s markets. Mining Weekly can... 

Kumba adds to liquidity with cost saving, capex deferral
Kumba Iron Ore CE Themba Mkhwanazi

Most Anglo mines around the world continuing to operate

By: Martin Creamer     23rd April 2020 Most of Anglo American’s mining sites around the world are continuing to operate, with appropriate health, hygiene and distancing measures. The diversified mining company said on Thursday that it was taking all necessary steps to ensure the security and integrity of its assets for the long term... 

Most Anglo mines around the world continuing to operate
Photo by Bloomberg
Anglo American CE Mark Cutifani

South African Q1 diamond production up 97% – Anglo 

By: Martin Creamer     23rd April 2020 Diversified mining company Anglo American reported on Thursday that its first-quarter diamond production in South Africa increased by 97% to 0.8-million carats as the final ore from the opencast Venetia mine in Limpopo was mined prior to transitioning to underground mining, Venetia’s underground... 

South African Q1 diamond production up 97% – Anglo
Photo by Creamer Media's Donna Slater
Opencast Venetria diamond mine.

Firm directive to ensure safe mining resumption

By: Martin Creamer     23rd April 2020 The Department of Mineral Resources and Energy (DMRE) on Thursday issued a firm directive to all mining operations to ensure safe start-up procedures as the sector prepares to ramp up to 50% of capacity. Mining Weekly can report that the directive is issued to ensure compliance with Section 5(1)... 

Firm directive to ensure safe mining resumption
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe.

Steel downturn evident in global production figures for March

By: Marleny Arnoldi     23rd April 2020 World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) decreased by 6% year-on-year to 147-million tonnes in March. The association says the global steel industry is being impacted on by factory shutdowns, disrupted supply chains, collapsing... 

Steel downturn evident in global production figures for March

Anglo, De Beers announce additional $3m donations for Covid relief 

By: Martin Creamer     20th April 2020 Anglo American and De Beers on Monday announced additional donations of $2-million to South Africa’s Solidarity Fund, which addresses the impacts of Covid-19, and $1-million to the Oppenheimer family’s South African Future Trust, established to support small- and medium-sized businesses through... 

Anglo, De Beers announce additional $3m donations for Covid relief
Photo by Reuters
Anglo American CE Mark Cutifani

Kumba pledges third of top pay, provides services to communities

By: Martin Creamer     20th April 2020 Iron-ore mining company Kumba has provided a wide range of essential services in its host communities, while also responding directly with additional support to help alleviate the health and economic effects of Covic-19, the company said on Monday. Beyond the company’s breadth of support... 

Kumba pledges third of top pay, provides services to communities
Photo by Creamer Media
Kumba CE Themba Mkhwanazi.

Vale slashes 2020 output forecasts, citing virus

By: Reuters     18th April 2020 Brazilian miner Vale on Friday cut its forecast for production of iron ore fines and pellets, copper and nickel in 2020, saying in a securities filing that the new coronavirus outbreak was delaying some facilities from reopening. Vale reduced its forecast for annual production of iron-ore fines... 

Vale slashes 2020 output forecasts, citing virus

Impala CE granted bail after appearance on Covid-19 charge 

By: Martin Creamer     17th April 2020 The arrest of the chief executive of Implats' Implala Platinum Rustenburg mining operations was on Friday welcomed by the Mineral Resources and Energy Parliamentary chairperson Sahlulele Luzipo, who on Thursday called on law enforcement agencies to act decisively against mining executives who... 

Impala CE granted bail after appearance on Covid-19 charge
Photo by Creamer Media
Impala Platinum Rustenburg CE Mark Munroe

Minerals Council welcomes revised Covid-19 regulations

By: Martin Creamer     16th April 2020 The Minerals Council South Africa on Thursday welcomed the amendments to the Disaster Management Act regulations as they pertain to mining. These regulations allow a phase-up in mining capacity to 50% during the lockdown period, but with all the preventative and mitigating controls in place to... 

Minerals Council welcomes revised Covid-19 regulations
Minerals Council CEO Roger Baxter

Mining may resume at 50% capacity – Minister 

By: Martin Creamer     16th April 2020 All mining operations, excluding collieries supplying Eskom which have been permitted to operate at full capacity throughout national lockdown, may now resume at 50% capacity during the remaining lockdown days, Mineral Resources and Energy Minister Gwede Mantashe said on Thursday. Thereafter,... 

Mining may resume at 50% capacity – Minister
Photo by Veronica Creamer
Mineral Resources Minister Gwede Matashe during virtual media conference.

Brazil mineral output falls, downturn to deepen in Q2 amid coronavirus

By: Reuters     16th April 2020 Brazil's mineral production fell 17% in the first quarter of 2020, compared with a year ago, with the coronavirus outbreak's impacts on the sector expected to deepen in the second quarter, industry group Ibram said on Wednesday. Mineral output totaled 220.4-million tonnes in the first quarter,... 

ERG to boost iron-ore sales to China as traditional markets shrink

By: Reuters     15th April 2020 The Kazakh iron-ore unit of mining and metals conglomerate Eurasian Resources Group (ERG) is increasing exports to China to offset declining demand in the former Soviet Union, the company said on Wednesday. Chinese consumers have confirmed they are ready to buy additional volumes of ore, ERG... 

Modi backs billionaire to restart mining in resort state of Goa

By: Reuters     15th April 2020 With Goa’s fabled beaches emptied by a nationwide lockdown to fight the coronavirus, the Indian state is about to witness an epic battle at the heart of the trade-off between reviving the economy and protecting the environment. On April 21, India’s Supreme Court is scheduled to begin hearing a... 

Court ruling marks major milestone for reopening of Amapa iron-ore mine

By: Mariaan Webb     14th April 2020 The Commercial Court of São Paulo has ruled that DEV Mineração, the owner of the Amapá iron-ore project could start shipping stockpiled iron-ore, marking a major milestone for the reopening of the iron-ore mine that once belonged to diversified miner Anglo American. London-listed Cadence, which... 

Vale to prepay $179m to suppliers

By: Reuters     10th April 2020 Brazilian miner Vale will prepay 932-million reais ($179.5-million) to roughly 3 000 small suppliers by the end of April, in a move to help ease the economic impact on them from the coronavirus outbreak. The company said it has already disbursed nearly half of this amount in the last two weeks. 

Too early to comment on when mining will resume – Minerals Council

By: Martin Creamer     9th April 2020 Comment on when mining industry operations will resume is premature but what is certain is that when resumption does occur, it will not be business as usual, Minerals Council South Africa said on Thursday. Noting reports on the resumption of mining operations after 16 April, Minerals Council... 

Afrimat expects to report higher full-year earnings

By: Tasneem Bulbulia     9th April 2020 JSE-listed Afrimat expects its earnings a share for the year ended February 29 to be between 318.2c and 362.4c, reflecting an increase of between 44% and 64% year-on-year. Its headline earnings a share are expected to be between 323.1c and 369.9c, reflecting an increase of between 38% and 58%... 

Moody’s cuts outlook for steel industries further

By: Marleny Arnoldi     9th April 2020 Ratings agency Moody’s Investors Service already had negative outlooks for steel industries across the world, largely based on weak fundamentals in 2019, but the Covid-19 outbreak has made conditions worse and prompted the agency to cut the outlook for steel industries further. Moody’s says the... 

New scoping at Paulsens East shows Utah Point results

By: Esmarie Iannucci     9th April 2020 A revised scoping study into the Paulsens East iron-ore project, in Western Australia, incorporating the Utah Point, at Port Hedland, as the shipping port, has confirmed the project economics. The original scoping study completed in late 2019, considered the Onslow marine supply base, at Beadon... 

Richards Bay Minerals undertakes series of measures against Covid-19 in local community

By: Simone Liedtke     8th April 2020 In response to President Cyril Ramaphosa’s call to action, mineral sands producer and beneficiation company Richards Bay Minerals (RBM) has undertaken a series of measures against Covid-19 in its operations and is working with other businesses and industry bodies in the King Cetshwayo district to... 

Richards Bay Minerals undertakes series of measures against Covid-19 in local community

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... 

Kogi Iron sees ongoing interest in Nigeria-based cast steel project
A location map of Kogi Iron's Nigerian cast steel project.

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... 

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