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Iron Ore News
Fortescue inks iron-ore MoUs
By: Esmarie Iannucci 10th November 2020 Iron-ore miner Fortescue Metals has inked between $3-billion and $4-billion worth of memoranda of understanding (MoUs) with Chinese steel mills, procurement partners and financial institutions. The company this week revealed that it had signed 12 MoUs with long-term partner and major shareholder... →
Former Sishen COO takes helm at ArcelorMittal Canada
By: Mariaan Webb 10th November 2020 Steel and iron-ore major ArcelorMittal Canada has appointed Mapi Mobwano, who has worked in the South African mining industry for two decades, as president and CEO. Before joining ArcelorMittal as GM and COO in July last year, Mobwano was COO of Anglo American’s Sishen iron-ore mine, in the... →
English judge blocks £5bn Brazil lawsuit against BHP over burst dam
By: Reuters 9th November 2020 A £5-billion English lawsuit against Anglo-Australian mining giant BHP has been blocked, in a blow to a 200000-strong Brazilian claimant group, seeking damages after a devastating dam failure in 2015. A High Court judge in Manchester, northwestern England, struck out the largest group claim in... →
Brazil's Vale to launch WeChat platform for iron-ore spot sales in yuan
By: Reuters 9th November 2020 Brazilian miner Vale said on Monday it plans to launch an iron-ore spot trading platform on Chinese mobile app WeChat with the Beijing Iron Ore Trading Center Corporation (Corex) in early 2021 to facilitate yuan-denominated transactions. Vale said it would be able to streamline and speed up its... →
Beowulf launches capital raising
By: Creamer Media Reporter 6th November 2020 London-listed Beowulf Mining has announced it will raise about £7.3-million to advance its portfolio of assets in Sweden, Finland and Kosovo. The company will conduct an open offer of up to 225 841 752 new ordinary shares to qualifying shareholders at 3.16p a share on a pre-emptive basis to... →
Gudai-Darri airport takes flight
By: Esmarie Iannucci 6th November 2020 Construction at mining major Rio Tinto’s $2.6-billion Gudai-Darri iron-ore project, in the Pilbara, is progressing well, with the company cutting the ribbon at the project’s airport. Gudai-Darri, previously known as the Koodiaderi mine, will be the company’s first intelligent mine, incorporating... →
Hancock profits soar to A$4bn
By: Esmarie Iannucci 4th November 2020 Iron-ore miner Hancock Prospecting has reported a A$4-billion net profit after tax for the full 2020 financial year, up from the A$2.6-billion reported in 2019. The miner this week revealed that revenue from iron-ore sales increased to A$10.5-billion in the 2020 financial year, up from... →
Saldanha Terminal acquires another dust suppressor 
By: Tasneem Bulbulia 3rd November 2020 Transnet Port Terminals' (TPT's) Iron Ore Saldanha Terminal has acquired and commissioned an additional machine to suppress dust. The investment is aimed at protecting the environment and complements the existing dust suppression tools already on site, TPT says. →
Exploration is priority, says Mineral Resources Minister Gwede Mantashe 
By: Martin Creamer 3rd November 2020 South Africa should be an exploration site that contributes to gross domestic product growth and employment creation. “Exploration is the way to go and a priority,” Mineral Resources and Energy Minister Gwede Mantashe told the 2020 Junior Indaba in his keynote address on Tuesday. (Also watch... →
Rockfall reported at Koolan Island
By: Esmarie Iannucci 3rd November 2020 Iron-ore miner Mount Gibson Iron has reported a rockfall at its Koolan Island mine, in Western Australia. The company on Tuesday noted that the rockfall occurred in a localized section of the western end footwall of the main pit, and did not result in either injuries or damage to equipment. →
Flow-through must not only incentivise exploration but also market participation – Miller
By: Martin Creamer 2nd November 2020 A flow-through share scheme tax incentive, currently under consideration for South Africa, must serve to incentivise not only exploration but also public listed market development and market participation by a diversity of investors. Mining supply sales consultancy AmaranthCX director Paul Miller... →
Mining supply sales consultancy AmaranthCX director Paul Miller
Beowulf notes progress with its seven-years-and-counting application for Kallak
By: Marleny Arnoldi 30th October 2020 Aim-listed Beowulf is still awaiting the award of an exploitation concession from the Swedish Ministry of Enterprise and Innovation and Constitutional Committee for the Kallak North area, since its initial application in 2013. The company says is has learnt that the Ministry has advised the... →
Labrador going full speed ahead with Houston development
By: Marleny Arnoldi 30th October 2020 Canadian miner Labrador Iron Mines (LIM) is progressing work on Stage 2 of its planned direct shipping ore mining operations, which involves the development of the Houston project, in Labrador, Quebec. LIM chairperson and CEO John Kearney says this decision came in light of persistently... →
Brazil prosecutors file appeal against BHP, Vale dam compensation deal
By: Reuters 30th October 2020 Brazilian federal prosecutors on Thursday filed a lawsuit contesting a compensation package for victims from a 2015 collapsed dam jointly owned by mining giants BHP and Vale, arguing that the package is far too low. The move comes after prosecutors earlier this month accused the two companies of... →
Vale expects stronger fourth-quarter iron-ore sales
By: Reuters 29th October 2020 Brazilian miner Vale SA has recovered its iron ore inventories in the third quarter and will reduce the gap between production and sales in the coming months, potentially bringing relief to a tight global supply for the key steel-making ingredient, company executives said on a Thursday. In a call... →
Lac Doré among the world's largest undeveloped deposits
By: Creamer Media Reporter 29th October 2020 TSX-V-listed VanadiumCorp Resource has published the results of a mineral resource estimate for its flagship Lac Doré vanadium project, in Quebec, which it says is one of the largest undeveloped deposits of vanadiferous magnetite in the world, with in excess of 1.4-billion pounds of vanadium... →
Afrimat's diversification strategy paying off
By: Marleny Arnoldi 29th October 2020 Openpit miner Afrimat reported an 11% year-on-year increase in operating profit for the six months ended August 31, despite a 9.4% year-on-year decrease in revenue. The company also ended the period with cash and cash equivalents of R330-million, a 170% year-on-year increase. →
Fortescue spending big on fleet
By: Esmarie Iannucci 29th October 2020 Iron-ore miner Fortescue Metals has signed up for a A$32-million renewable hydrogen supply product that would enable ten of its coaches at its Christmas Creek mine, in the Pilbara region, to be fuelled with renewable hydrogen. The Christmas Creek operation would be the first mine in Australia... →
Fortescue sets quarterly record
By: Esmarie Iannucci 29th October 2020 Iron-ore major Fortescue Metals has reported a record first quarter of iron-ore shipments during the three months to September. Iron-ore shipments in the first quarter reached 44.3-million tonnes, up 5% than the previous corresponding period, while C1 costs declined by 2% in the same period to... →
Bloom Lake returns to normal - Champion
By: Esmarie Iannucci 28th October 2020 ASX and TSX-listed Champion Iron has reported increased production in the three months to September, as operations at the Bloom Lake mine, in Quebec, returned to full operational capacity. Bloom Lake produced 2.2-million tonnes of high-grade iron-ore concentrate during the three months to... →
Jupiter plans iron-ore spin-out
By: Esmarie Iannucci 28th October 2020 The board of ASX-listed Jupiter Mines has approved a demerger of the company’s Central Yilgarn iron-ore assets, and a subsequent initial public offering (IPO). The demerger will create a separately ASX-listed company that will focus on progressing the development of the Mount Mason direct... →
Hopes rise as top firms arrive at potential flow-through share model to stimulate mining exploration
By: Martin Creamer 27th October 2020 A flow-through share model has been drawn up with the help of top firms to stimulate badly neglected mining exploration in South Africa, Minerals Council South Africa junior and emerging miners leadership forum chairperson Errol Smart said on Tuesday. Speaking to Mining Weekly in a Zoom... →
Brazil prosecutors accuse BHP, Vale of colluding to reduce payouts to disaster victims
By: Reuters 26th October 2020 Brazilian federal prosecutors have accused mining giants BHP and Vale of colluding with a lawyer to reduce compensation for victims of a fatal dam collapse and interfere with a landmark lawsuit against BHP in the UK. A mining waste dam burst in 2015 at BHP and Vale's Samarco joint venture in the... →
Transnet revamping concessions model to speed up private involvement in rail and ports
By: Terence Creamer 23rd October 2020 State-owned freight logistics group Transnet is in the process of overhauling its approach to opening up its port and rail networks, including 8 000-km of branch lines, to private participants, acknowledging that its previous models have been far to slow and cumbersome. CEO Portia Derby said the... →
Protesters sit-in at Brazil miner Vale dam burst site, demand aid extension
By: Reuters 23rd October 2020 Roughly 150 demonstrators staged a sit-in at Brazilian miner Vale's administrative building in the town of Brumadinho on Thursday to protest their treatment nearly two years after a deadly mining waste dam collapsed there, killing about 270 people. The protestors are demanding an extension of... →
Covid has highlighted the value of operating remotely – mining editor
By: Martin Creamer 22nd October 2020 The extraction of data from machinery to improve decision-making is a key benefit of the digital mine and has changed the way that mines manage their assets and perform machine maintenance, Australia Mining managing editor Ben Creagh said on Wednesday. Creagh was speaking during a virtual... →
Kumba on track to deliver full-year guidance
By: Tasneem Bulbulia 22nd October 2020 Anglo American subsidiary Kumba Iron Ore continued to achieve a good operational performance in the quarter ended September 30, demonstrating business resilience and a capacity to successfully adapt to working under Covid-19 conditions, CE Themba Mkhwanazi said on October 22. “Our first priority... →
NUM prepares for strike at Northern Cape mine
By: Marleny Arnoldi 20th October 2020 The National Union of Mineworkers (NUM) says it has declared a wage dispute with Assmang Operations, in the Northern Cape, after it was unable to reach a wage settlement with the iron-ore and manganese miner. The union initially demanded a 15% increase access the board, but lowered its demands... →
Australia’s commodities heartland set for major hydrogen plant
By: Bloomberg 20th October 2020 The desolate red sands of the Pilbara region in western Australia, home to most of the iron-ore mines that account for a major chunk of the nation’s export income, may one day house an ambitious hydrogen export hub. The Asian Renewable Energy Hub, which would use electricity from wind and solar... →
Brazilian miner Vale hints at fourth-quarter production boost
By: Reuters 20th October 2020 Brazilian mining company Vale reported on Monday an increase in iron ore output in the third quarter and predicted a further boost in fourth-quarter output at some units, as a number of mines ramp up production or come online. In a securities filing, the company said it produced 88.7-million... →
Low prices, demand results in drop in Afarak’s mining, processing volumes
By: Marleny Arnoldi 19th October 2020 LSE- and Nasdaq-listed Afarak Group has reported that its group production for the third quarter of the year at 40 766 t was 60.1% lower than the 102 219 t produced in the third quarter of 2019. This was owing to reduced mining activity in South Africa, the protection of staff amid Covid-19, low... →
SMB-Winning aims to bring Guinea's Simandou iron ore to market in 2025
By: Reuters 16th October 2020 China-backed consortium SMB-Winning aims to bring blocks 1 and 2 of Guinea's massive Simandou iron-ore deposit into production by 2025, chairmperson Fadi Wazni said on Friday, a tight timetable for a huge mine and infrastructure project. The consortium - which includes Société Minière de Boké... →
Transnet shuts down Saldanha iron-ore terminal for maintenance
By: Marleny Arnoldi 16th October 2020 Coinciding with Transnet Freight Rail’s ten-day shutdown of its iron-ore rail corridor for maintenance, Transnet Port Terminals has also shut down the Saldanha Iron Ore Terminal, on October 16. The terminal’s shutdown forms part of the port authority’s annual maintenance plan for mechanical,... →
Diverse offering key for Australian mines
By: Mamaili Mamaila 16th October 2020 Conveyor roller technology specialist Conveyor Products & Solutions (CPS) first sought to change the bulk materials handling market by introducing all-polymer rollers – the Yeloroll product range – to the conventional and stagnant roller industry. →
Mining committed to doing all it takes to improve worker health – Matlala
By: Martin Creamer 15th October 2020 Minerals Council South Africa VP and Masoyise Health Programme chairperson Zanele Matlala on Thursday committed the South African mining industry to doing all it takes to ensure that employee lives are saved and health is improved. Speaking at a global virtual health seminar to reprioritise... →
Minerals Council South Africa VP and Masoyise Health Programme chairperson Zanele Matlala
Ten-day iron-ore rail corridor maintenance to start on October 16
By: Marleny Arnoldi 14th October 2020 Transnet Freight Rail (TFR) has advised that it will conduct a ten-day shutdown on the iron-ore rail corridor from October 16. During this time, the State-owned utility’s scope of maintenance work will include replacing 30 623 sleepers, three turnouts, 5 km of catenary wire, 1.2 km of contact... →
Fenix signs offtake agreement
By: Esmarie Iannucci 14th October 2020 Junior Fenix Resources has struck a binding offtake agreement with Sinosteel International holding Company for 50% of the expected production from its Iron Ridge iron-ore project, in Western Australia. The offtake agreement will span the life of the mine, and will allow for annual review... →
Aboriginal group says Fortescue withholds royalties on mining leases
By: Reuters 13th October 2020 An Australian Aboriginal group said on Tuesday that Fortescue Metals is withholding nearly A$2-million in royalty payments until it signs off on mining leases that cover areas containing many sacred sites. The country of the Eastern Guruma, or Wintawari Guruma, people is one of the most heavily... →
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