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Iron Ore News

Cleveland-Cliffs' biggest shareholder against bid for Alpha Natural

By: Liezel Hill     18th July 2008 The largest shareholder in US miner Cleveland-Cliffs, Harbinger Capital Partners, opposes the company's plans to buy coal-miner Alpha Natural, and may approach the company with alternatives to “maximise shareholder value” including possible changes to the management or board, the hedge fund said... 

Cleveland-Cliffs to buy coal-miner Alpha Natural, seeks further diversification 

By: Liezel Hill     16th July 2008 US iron-ore and coal producer Cleveland-Cliffs has agreed to buy coal miner Alpha Natural for about $10-billion in cash and shares. Cleveland-Cliffs is the largest producer of beneficiated iron ore pellets in North America and, after the tie-up, the company will hold the distinction of the... 

Cleveland-Cliffs plans $290m capacity expansion, buys out JV partner

By: Liezel Hill     14th July 2008 US iron-ore producer Cleveland-Cliffs has approved a project to increase iron-ore output at two of its mines, the company announced in a statement. Work on the project will get under way this year, although most of the capital expenditure will occur in 2009.  

Anglo-linked MMX’s office searched in police probe

By: Matthew Hill     14th July 2008 Brazilian firm MMX Mineracaoe Metalicos, which is linked to Anglo American, confirmed at the weekend that Federal police had raided its offices to seize documents, but denied the allegations tabled at it. The company said that it would cooperate with any legal investigation, while Anglo American... 

Transnet insists it will invest to meet commodity-export demand

By: Terence Creamer     11th July 2008 State freight logistic group Transnet claims to stand ready to make “any investment” into coal and iron-ore for which there is a business case and where it was confident that the product would indeed be available. Speaking exclusively to Mining Weekly, CEO Maria Ramos stressed that, beyond the... 

Kumba shares slump after announcing earnings update

By: Mariaan Webb     9th July 2008 South African miner Kumba Iron Ore (KIO) expects its interim headline earnings and basic headline earnings to increase by about 88%, it said on Wednesday. Headline earnings and basic earnings for the six months ended June 30, could be between R2,67-billion and R2,97-billion, compared with... 

EU launches in-depth probe into proposed BHP-Rio tie-up

4th July 2008 The European Commission has opened a detailed investigation into plans by the world's biggest mining company, BHP Billiton, to acquire rival Rio Tinto, after an initial assessment raised concerns over the deal, the executive arm of the European Union said on Friday. The commission's initial... 

BHP agrees up to 97% iron-ore price increase with China’s Baosteel

By: Matthew Hill     4th July 2008 Resources giant BHP Billiton on Friday said that it had agreed with China number-one steel producer Baosteel on iron-ore prices for 2008, which was an increase of up to 97% on the previous year’s prices. Yandi and Newman fine ores increased to $1,44/t and Newman lump ore went up to $2,01/t, the... 

Locally made truck body attracts international interest

By: Brindaveni Naidoo     4th July 2008 Local steel product manufacturer VR Steel is receiving significant interest from local and international mining companies for its recently launched truck body design. The company expects to produce about 200 truck bodies a year in the next fours years. 

World has arrived at new iron-ore futures market, says BHP Billiton’s Randolph

By: Martin Creamer     4th July 2008 The screen was too small to make out the details, but its fleeting appearance heralded the emergence of a new transparent pricing in the hitherto opaque iron-ore pricing market. 

Iron-ore benchmark pricing system 'doomed'?

By: Liezel Hill     3rd July 2008 Despite opposition from steelmakers, the iron-ore benchmark pricing system may be on its way out, according to a report published by the United Nations Conference on Trade and Development (Unctad), together with the Raw Materials Group. "It appears likely that trade in iron ore will become more... 

Mittal considers stake in Rio Tinto - report

By: Liezel Hill     30th June 2008 Steelmaker ArcelorMittal's chairperson, CEO and largest shareholder, Lakshmi Mittal, may buy a stake in diversified miner Rio Tinto, to secure iron-ore supplies, the Financial Times reported on Monday. 

Northland Resources to fast-track Swedish iron-ore project

By: Liezel Hill     30th June 2008 Vancouver-based Northland Resources, which last week published the findings of preliminary studies into its three most advanced iron-ore projects, plans to bring its Tapuli project, in Sweden, into production first, president Buck Morrow said on Monday. With the highest internal rate of return... 

Mexican iron-ore mine to start production next year

By: Liezel Hill     25th June 2008 UK-based London Mining has given the go ahead for the start-up of its El Artillero project, in Mexico, and expects production and export of iron-ore concentrates to begin in nine months, if the mine receives all the necessary permits. 

China's Baosteel agrees to steep price hikes for Rio Tinto iron ore

By: Liezel Hill     23rd June 2008 Diversified-miner Rio Tinto has secured an overall 85% increase in the price for its iron-ore from China's biggest steelmaker, Baosteel, the group announced on Monday. The increases, which were higher than agreements reached earlier this year by the world's biggest iron-ore producer – Companhia... 

Tawana appoints Neil Barrie as new chairperson

By: Creamer Media Reporter      20th June 2008 Australian-miner Tawana Resources has appointed Neil Barrie as executive chairperson, following Brian Phillips’ announcement on Friday that he would step down. The company said that Barrie, who has 20 years experience in mining evaluation and corporate development, would drive development across... 

Rio approves $667m for Australian iron-ore expansion

By: Chanel de Bruyn     18th June 2008 Diversified-miner Rio Tinto on Wednesday announced it had approved $667-million for the funding of infrastructure and studies for mine expansions as part of its aim to increase the capacity of its Pilbara iron-ore operations, in Australia, from about 163-million tons a year to 320-million tons a... 

Miners cautioned to watch expenses as costs eroded 2007’s revenues 

By: Chanel de Bruyn     17th June 2008 While commodity prices were expected to remain strong in 2008, professional services firm PricewaterhouseCoopers (PwC) said on Tuesday that it was expecting prices to taper off slightly, and that some companies would come under pressure if they did not watch input and operational costs.... 

Rio Tinto approves $371m automated train project

By: Liezel Hill     16th June 2008 Diversified-miner Rio Tinto will invest $371-million to automate its iron-ore railways in the Pilbara region of Western Australia, the group, which aims to double its iron-ore output by 2012, said on Monday. Within five years, driverless trains would be operating on most of the 1 300 km of track... 

Miners should position themselves for even bigger China resources assault 

By: Matthew Hill     10th June 2008 Mining companies needed to look strategically and systematically at how they could benefit from opportunities that resource-hungry China's increasing growth as global resources player presented, an expert on that country said on Tuesday. Speaking at the ‘Africa Mining Congress'... 

Vale plans to sell $15bn of shares to fund projects, acquisitions 

By: Liezel Hill     10th June 2008 Brazilian resources and logistics group Companhia Vale do Rio Doce (Vale) plans to sell common and preferred class A shares in the company worth as much as $15-billion, the company said on Tuesday.  

Palladon to buy partner out of Utah iron-ore project

5th June 2008 Exploration and development firm Palladon Ventures has agreed to buy its partner Luxor Capital Partners' 50% share of the company that owns the Iron Mountain iron-ore project, in southwest Utah, in the US.  

Five workers may have died in Kazakh mine accident – ArcelorMittal

2nd June 2008 Five people were missing on Monday after an accident at ArcelorMittal's Tentekskaya mine, in Kazakhstan, the company said in a statement.  

New KIO chief Griffith says keen to apply skills to new commodity

By: Matthew Hill     29th May 2008 The commodities basket is a “fantastic place to be”, but the skills shortage, cost pressures, keeping to project timelines, and community issues all present challenges to the mining industry, JSE-listed Kumba Iron Ore’s (KIO’s) new CEO said on Wednesday. Chris Griffith,... 

KIO's Ras Myburgh steps down to join power utility Eskom

By: Matthew Hill     28th May 2008 JSE-listed Kumba Iron Ore (KIO) CEO Ras Myburgh announced on Wednesday that he would be leaving the miner to join State-owned Eskom to help the power producer to source coal, which had over recent months proved a stumbling block that led to nationwide load shedding. Myburgh, who would be... 

Petmin wraps up Veremo acquisition 

By: Chanel de Bruyn     23rd May 2008 JSE-listed and Aim-listed minerals, mining and processing company Petmin on Friday announced it had concluded the acquisition of a 25% stake in Veremo Holdings, which owned an iron-ore and pig-iron deposit in Mpumalanga. Framework Investments Limited, a subsidiary of the LSE-listed Kermas Group,... 

Adriana appoints operations chief

By: Liezel Hill     16th May 2008 Vancouver-based Adriana Resources has appointed Michael Petrina as VP of operations, the company said on Friday. 

Kiwara adds iron-ore targets to Zambia JV

By: Matthew Hill     8th May 2008 Zambia-focused exploration company Kiwara will pay its partner in the country, LM Engineering, $100 000 to add iron-ore targets to their joint-venture (JV) in the Kalumbila area. The Aim- and JSE-listed Kiwara said that historic work showed an iron-ore resource, with a Yugoslavian company having... 

Vale buys Brazilian mining rights for $145m

By: Liezel Hill     5th May 2008 The world's biggest producer of iron ore, Companhia Vale do Rio Doce (Vale) has agreed to buy mining and surface rights in the Brazilian state of Minas Gerais, the firm said on Monday, 

Skills retention problem takes precedence over lack of skilled labour

By: Jonathan Faurie     2nd May 2008 The retention of skills has become a focus point over the training of skilled artisans for high-grade iron ore focused Kumba Iron Ore. 

Anglo's Q1 platinum, coal output fall on power constraints, weather

By: Mariaan Webb     29th April 2008 The world's second-largest diversified miner, Anglo American, said on Tuesday that its first-quarter output, particularly platinum group metals and coal output, had been curbed by South Africa's electricity constraints and adverse weather conditions. The company's platinum... 

Vale, ArcelorMittal ink 10-yr iron-ore supply contracts

By: Liezel Hill     28th April 2008 The world's biggest iron-ore producer, Companhia Vale do Rio Doce, has signed new long-term contracts with the largest steelmaker, ArcelorMittal, to supply iron-ore and pellets to its plants in Europe, Africa and the Americas. 

Vale output sets new records, but profit falls on nickel prices, derivatives loss

By: Liezel Hill     25th April 2008 Brazilian resources and logistics group Companhia Vale do Rio Doce shipped record levels of iron-ore, pellets, aluminium, alumina, cobalt and platinum group metals in the first quarter of 2008, but posted net earnings of $2,02-billion for the three months, a decline of 8,8% year-on-year.  

Vale names Tito Martins to head nonferrous minerals, energy units

By: Liezel Hill     23rd April 2008 Brazilian mining and logistics group Companhia Vale do Rio Doce (Vale) has appointed Tito Martins as executive director of nonferrous minerals and energy, and Demian Fiocca as executive director for management and sustainability, the company said on Wednesday. 

BHP Billiton March quarter iron-ore output hits record

By: Mariaan Webb     23rd April 2008 Diversified mining giant, BHP Billiton, which has launched a hostile takeover bid for smaller rival Rio Tinto, on Wednesday reported a 22% rise in its third quarter iron-ore production to a record 28-million tons. The higher iron-ore output, which was likely to strengthen its $147-billion bid... 

Consolidated Thompson agrees to buy smaller rival Quinto

By: Liezel Hill     21st April 2008 Canadian iron-ore development firm Consolidated Thompson has made a friendly all-share offer for TSX Venture Exchange-listed Quinto Mining, the companies announced on Monday. 

Rio expects output to rise 8% a year until 2015

By: Liezel Hill     17th April 2008 Diversified miner Rio Tinto, which is fending off a hostile takeover attempt by larger rival BHP Billiton, expects production volumes to grow at a compound rate of 8% a year from 2008 to 2015, CEO Tom Albanese said on Thursday. 

Rio Q1 iron-ore output rises to record, coal, copper decline

By: Liezel Hill     16th April 2008 Diversified miner Rio Tinto, which is fending off a hostile takeover bid by rival BHP Billiton, reported record production of iron-ore for the first three months of the year, up 16% on the same period of 2007. However, coal production declined year on year, after thermal- and hard-coking coal... 

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