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Iron Ore News

Robe Mesa to cost A$51m - CZR

By: Esmarie Iannucci     10th December 2020 A prefeasibility study (PFS) into the Robe Mesa iron-ore project, in the Pilbara, has estimated that the project would require a capital investment of A$51.1-million. ASX-listed CZR Resources noted that the study targeted a production rate of two-million tonnes a year of direct shipping ore... 

Australian miner expects robust demand for steel next year

By: Reuters     9th December 2020 Australia's Fortescue Metals Group expects iron-ore demand to be strong next year thanks to a solid Chinese steel market and post-pandemic recoveries in other countries, a senior company executive said on Wednesday. Iron ore prices soared this month towards $150 a tonne due to ongoing supply... 

Australian miner expects robust demand for steel next year

Interim report urges Rio to stop mining at Juukan Gorge

By: Esmarie Iannucci     9th December 2020 A Parliamentary inquiry into the destruction of the Juukan Gorge rock shelters in the Pilbara earlier this year, has urged miner Rio Tinto to commit to a moratorium on mining in the area. The caves were irreparably damaged during blasting operations that Rio conducted as part of its Brockman 4... 

Fortescue reaches milestone at Eliwana

By: Esmarie Iannucci     9th December 2020 Iron-ore miner Fortescue Metals has marked the first ore through its Eliwana ore processing facility, in Western Australia. CEO Elizabeth Gaines on Wednesday said that the Eliwana mine and rail project was the next important stage of development of Fortescue’s integrated operations. 

Mantashe enthused by third-quarter mining performance 

By: Donna Slater     8th December 2020 The third-quarter performance of South Africa’s mining sector is encouraging, says Mineral Resources and Energy Minister Gwede Mantashe, noting that “impressive growth” was recorded despite “difficult conditions” brought on by Covid-19. The sector grew at a yearly rate of 288.3% compared with the... 

Steinmetz to appear at Geneva trial next month to face corruption charges

By: Reuters     8th December 2020 Israeli billionaire Beny Steinmetz will appear in a Geneva court next month to defend himself against corruption and forgery charges in connection with mining contracts in Guinea, his lawyer told Reuters. Steinmetz was indicted in August 2019 by a Geneva prosecutor who accused him and two aides... 

Rosond to deliver last batch of new rigs to Kumba

By: Natasha Odendaal     7th December 2020 The final batch of 28 newly manufactured advanced drilling rigs under a R2-billion multiyear contract with mining services group Rosond is making its way to Anglo American-controlled Kumba Iron Ore in the Northern Cape, with expectations that the new range will be fully operational early in 2021.... 

Kumba’s 2020 output to be at lower-end of guidance

By: Tasneem Bulbulia     4th December 2020 JSE-listed Kumba Iron Ore is finishing 2020 in good shape, despite the unique challenges of Covid-19, CEO Themba Mkhwanazi said on Friday, announcing an updated guidance for South Africa’s largest iron-ore producer. Mkhwanazi indicated that to ensure the value chain was balanced, and finished... 

Kumba CEO Themba Mkhwanazi
Kumba CEO Themba Mkhwanazi

Solid results, despite Covid-19

4th December 2020 Openpit mining company Afrimat released its interim results for the six months ending on August 31, in October. The group, which has built up a track record of “excellence in small-scale mining and materials supply”, delivered solid results despite the effects of the global Covid-19 pandemic. As... 

Stilted supply boosts price

By: Khutso Maphatsoe     4th December 2020 In the past year, the price of iron-ore has recovered quite well, mainly on the back of constrained supply in South America and the economic recovery in China, with the latter driving consumption, explains international commodities consultancy Core Consultants MD Lara Smith. She notes that there... 

HEALTHY COMPETITION South Africa has competition from India, which is increasing its supplies to China.
HEALTHY COMPETITION South Africa has competition from India, which is increasing its supplies to China.

Kumba’s sustainability drive fosters shared value

4th December 2020 Iron-ore producer Kumba Iron Ore presented its sustainability performance last month, as reported by Mining Weekly Online. At the time, Kumba CE Themba Mkhwanazi said: “Sustainability is at the heart of who we are at Kumba and core to what we do. We recognise that a sustainability mindset,... 

THEMBA MKHWANAZI
Sustainability is at the heart Kumba's activities
THEMBA MKHWANAZI Sustainability is at the heart Kumba's activities

Chinese steel industry could jeopardise project

By: Khutso Maphatsoe     4th December 2020 The Chinese steel industry is close to peaking, as it is expected to exceed one-billion tons in 2020; consequently, analysts predict that iron-ore consumption in China will plateau and decline, owing to the abundance of scrap in the country. Commodities consultancy Roskill steel alloys principal... 

DROP IN THE OCEAN
Covid-19 has had a small impact on the iron-ore market, with South Africa experiencing some disruption
DROP IN THE OCEAN Covid-19 has had a small impact on the iron-ore market, with South Africa experiencing some disruption

Iron-ore sizzles as Vale's output guidance adds fuel to rally

By: Reuters     3rd December 2020 China's iron-ore benchmark scaled a record high on Thursday after miner Vale SA unveiled output targets that lagged forecasts, adding to concerns about weak seaborne supply. Iron ore on China's Dalian Commodity Exchange ended daytime trade up 1.7% at 937 yuan ($142.86) a tonne, near its peak of... 

Iron-ore sizzles as Vale's output guidance adds fuel to rally

Vale output goals lag forecasts, sets emission targets

By: Reuters     3rd December 2020 Brazilian miner Vale on Wednesday unveiled iron-ore production targets that lagged previous forecasts while underlining its efforts to pay reparations related to a dam disaster and lower carbon emissions in the coming years. Vale's new forecast output of 300-million to 305-million tonnes of... 

Vale output goals lag forecasts, sets emission targets

Lack of publicly available cadastre impeding future mining potential – Miller 

By: Donna Slater     1st December 2020 The South African junior mining, and particularly prospecting, sector will continue its rapid degradation if the Department of Mineral Resources and Energy (DMRE) continues to refuse to publicly release information pertaining to national mining and prospecting rights, says mining supply sales... 

AmaranthCX director Paul Miller
Photo by Creamer Media
AmaranthCX director Paul Miller

Metal prices expected to average higher in 2021 amid recovery from Covid-19 – Fitch Solutions

By: Donna Slater     1st December 2020 Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) expects miners and metal producers to experience a more favourable pricing environment in 2021 with nearly all mineral and metal prices forecast to average higher on a... 

First ore at Eliwana expected this week

By: Esmarie Iannucci     1st December 2020 Iron-ore miner Fortescue Metals is on track to deliver first ore into its Eliwana plant later this week, while first ore on train is scheduled for later this month. Fortescue COO Greg Lilleyman told the Global Iron and Steel Forecast that the Eliwana railway line was progressing well, with the... 

South Flank on target - BHP

By: Esmarie Iannucci     1st December 2020 Construction of BHP’s South Flank mine, in the Pilbara, is some 84% complete, project manager Simon Thomas told the Global Iron and Steel Forecast conference. Thomas on Tuesday said that first production from the $3.6-billion South Flank operation was still targeted for mid-2021, however,... 

Shell LNG to power BHP ships

By: Esmarie Iannucci     1st December 2020 Diversified miner BHP has tapped energy major Shell to supply first liquefied natural gas (LNG) for five LNG-fuelled Newcastlemax bulk carriers, which will transport iron-ore between Western Australia and China from 2022. “The LNG bunkering contract marks a significant step in how BHP is working... 

Field narrows for global miner Rio Tinto's top job

By: Reuters     30th November 2020 Rio Tinto will look to a handful of external candidates in a narrowing field for its new chief executive, as the miner tries to win back investors dismayed by the blasting of an ancient Australian rock shelter, bankers and investors say. The top priority for a new CEO will be strong stakeholder... 

Jean-Sebastien Jacques
Jean-Sebastien Jacques

Vale to resume Serra Leste expansion

By: Mariaan Webb     30th November 2020 Brazilian diversified major Vale has marked another step on its path to return production to 400-million tonnes a year, announcing on Friday that it had received the green light for the resumption and expansion of its Serra Leste operations. The Environment and Sustainability Department of Para... 

Vale to resume Serra Leste expansion

Climate-driven surge in scrap use could slash primary metal demand - Woodmac  

By: Reuters     27th November 2020 A surge in the use of scrap metal due to strict environmental policies could slash global demand for primary aluminium by almost half and cut demand for primary copper and iron by more than a third by 2040, Wood Mackenzie said on Thursday. In a report on the future of mining, the consultancy... 

Iron-ore, copper doing well amid pandemic

By: Theresa Bhowan     27th November 2020 Covid-19 negatively impacted the demand for all industrial commodities, but not all markets were impacted equally, explains investment management provider Sanlam Private Wealth. Commodities on which China has a greater import reliance, such as iron-ore and copper, generally fared better than... 

CHRISTIAAN BOTHMA 
While commodity demand beyond Covid-19 remains uncertain, he highlights a few observations in terms of copper and iron-ore
CHRISTIAAN BOTHMA While commodity demand beyond Covid-19 remains uncertain, he highlights a few observations in terms of copper and iron-ore

ArcelorMittal Mining Canada appoints COO

By: Creamer Media Reporter      26th November 2020 Guy Belleau has been appointed COO of ArcelorMittal Mining Canada, a subsidiary of steel giant ArcelorMittal that operates on Quebec’s North Shore. "I am pleased to welcome Guy within our renewed management team. Our goal is to become a world reference in the safe and efficient production of... 

Strike raises cash for Paulsens East

By: Esmarie Iannucci     25th November 2020 Iron-ore developer Strike Resources has completed a A$4-million capital raising to fund work at its Paulsens East project, in Western Australia. The company issued 40-million fully paid ordinary shares at a price of 10c each under its existing placement capacity, to sophisticated and... 

Coal mine on point of turning acid mine drainage into potable water at no cost  

By: Martin Creamer     23rd November 2020 An Mpumalanga coal mine is on the point of entering into an agreement before year-end to have its acid mine drainage water curse turned into potable water at no cost, Mining Weekly can today report. Recovered potassium nitrate, which retails at about R15 000/t and which is marketed at about R11... 

John Bewsey
Trailblazer Technologies director John Bewsey interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Billionaire miner Forrest aims to be a global clean energy giant

By: Bloomberg     23rd November 2020 Billionaire Andrew Forrest broke into the ranks of the world’s top iron-ore exporters, now he’s targeting an entry into renewables in as soon as two years under an ambitious plan to produce more energy than giants like Chevron. Forrest’s Fortescue Metals Group will begin green fuel production in... 

Andrew Forrest
Andrew Forrest

Swedish miner LKAB eyes huge investment in CO2-free production

By: Reuters     23rd November 2020 State-owned mining company LKAB said on Monday it wanted to invest 400-billion crowns ($46.5-billion) over 20 years to shift to carbon-free production of iron-ore, in what could be one of Sweden's biggest ever industrial investment programmes. LKAB said the plan would require an expansion of... 

Swedish miner LKAB eyes huge investment in CO2-free production

Australia's project pipeline grows despite Covid

By: Esmarie Iannucci     23rd November 2020 The number of resources and energy major development projects has increased by 19% over the last 12 months, new data from the Office of the Chief Economist has shown. There are currently 335 major projects in the development pipeline, with the value of the projects in the pipeline increasing by... 

Australia's project pipeline grows despite Covid

Chrome producers want ferrochrome solutions that exclude export tax    

By: Martin Creamer     19th November 2020 South Africa’s non-integrated chrome ore exporters want to discuss ways of solving the existential threat to South Africa’s struggling ferrochrome industry to avoid the need for a tax being imposed on the export of locally mined chrome ore. But steadfastly in favour of a chrome ore export tax are... 

David Kovarski
ChromeSA spokespersons interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Brazilian state says Vale's $4bn dam offer is too low

By: Reuters     18th November 2020 Brazilian miner Vale's proposed settlement of around 21-billion reais ($3.97-billion) following a deadly 2019 dam disaster is too low, the head of the state of Minas Gerais, where the accident happened, said. After a meeting between authorities and the company about the Brumadinho dam burst in... 

Anglo’s investment commitment to South Africa up R15bn  

By: Martin Creamer     18th November 2020 Anglo American is on track to exceed its original investment commitment to South Africa, despite Covid-19 impacts, Mining Weekly can report. At this year’s SA Investment Conference, the London- and Johannesburg-listed diamond, platinum group metals and iron-ore mining company increased its total... 

Anglo American CEO Mark Cutifani
Anglo American CEO Mark Cutifani

Vale ends meeting without dam burst disaster settlement

By: Reuters     18th November 2020 A hearing between Brazilian miner Vale and the government of Brazil's Minas Gerais state ended on Tuesday without the two sides agreeing on a settlement over a Jan. 2019 disaster in which a Vale dam burst and killed 270 people. The mining waste dam burst in the town of Brumadinho in Minas... 

Champion picks up Kami iron-ore project

By: Mariaan Webb     16th November 2020 Toronto- and Sydney-listed Champion Iron has agreed to buy the Kamistiatusset iron-ore project, which is only a few kilometres from its Bloom Lake mine, in Canada. Located in the Labrador Trough in Newfoundland, near the Quebec border, the Kami project until April belonged to Alderon Iron Ore,... 

Champion picks up Kami iron-ore project

Vale, Chinese port sign $651m deal on iron-ore storage, processing

By: Reuters     16th November 2020 Brazil's Vale and China's Ningbo Zhoushan Port have signed a deal to invest around 4.3-billion yuan ($650.6-million) in iron-ore storage and processing facilities in Zhejiang, a local government statement said on Friday. The move follows the two firms' inauguration of a grinding hub at the port... 

Chrome export tax a positive step, special electricity dispensation now needed – Phiri 

By: Martin Creamer     16th November 2020 The imposition of a tax on the export of chrome ore is a positive step, but to enable South Africa’s once-dominant ferrochrome industry to compete successfully once again, electricity prices should be made affordable by way of special dispensation, says mining stalwart Steve Phiri, who was... 

Steve Phiri
Photo by Creamer Media
Steve Phiri

C$500m Quebec iron-ore expansion gets go-ahead

By: Mariaan Webb     12th November 2020 The board of dual-listed Champion Iron has approved the completion of the Bloom Lake Phase 2 expansion project, paving the way for the doubling of the Quebec mine’s nameplate capacity to 15-million tons a year of high-grade iron-ore concentrate. The company would require an estimated... 

C$500m Quebec iron-ore expansion gets go-ahead

Mining output down 2.8% y/y in September

By: Creamer Media Reporter      12th November 2020 South Africa's mining production decreased by 2.8% year-on-year in September, with the iron-ore sector having made the largest negative contribution and diamonds the largest positive contribution. Seasonally adjusted mining production decreased by 0.3%  month-on-month in September. 

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