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Iron Ore News

Fortescue pledges $6.2bn to eliminate emissions by 2030

By: Esmarie Iannucci     20th September 2022 Iron-ore major Fortescue has announced a $6.2-billion investment by 2030 to eliminate fossil fuel use and achieve real zero terrestrial emissions across its iron-ore operations. The miner said in statement on Tuesday that the investment will eliminate Fortescue’s fossil fuel risk profile and... 

Minerals Council urges faster inclusion of private electricity suppliers 

By: Martin Creamer     19th September 2022 The Minerals Council South Africa supports President Cyril Ramaphosa’s electricity recovery plan and urges more rapid private sector participation in resolving the country’s deepening electricity crisis. Minerals Council members have 6 500 MW of embedded energy projects in the pipeline which will... 

Minerals Council South Africa CEO Roger Baxter.
Minerals Council South Africa CEO Roger Baxter.

Lula campaign mulls new mining royalties in Brazil, spooking industry

By: Reuters     19th September 2022 Brazilian presidential frontrunner Luiz Inacio Lula da Silva is considering raising royalties on certain mining projects if elected, a campaign adviser told Reuters, likely affecting iron-ore giant Vale and other multinationals. Under the proposal drafted by mining specialists working for Lula's... 

Vale says iron-market 'can only get better' amid tight supply

By: Bloomberg     16th September 2022 The iron-ore market has stabilised with impacts of China’s Covid-19 lockdowns and real-estate woes already priced in, according to a top producer of the steelmaking ingredient. “The good news is that from now on it can only get better,” said Luciano Siani, head of strategy and business... 

Global collaboration essential to realise $1.4tr iron, steel decarbonisation investment

By: Marleny Arnoldi     15th September 2022 To meet 2050 climate goals, the global iron and steel industry will require $1.4-trillion of investment across the value chain, from mining to steelmaking, estimates research and consultancy firm Wood Mackenzie (WoodMac). A research report, titled ‘Pedal to the metal: iron and steel’s... 

Steel

Rio and Baowu to develop $2bn Western Range mine

By: Esmarie Iannucci     14th September 2022 Diversified miner Rio Tinto and China Baowu Steel Group Co. will joint venture (JV) on the $2-billion development of the Western Range iron-ore project in the Pilbara. Rio said on Wednesday that Western Range’s annual production capacity of 25-million tonnes of iron ore will help sustain... 

Image shows a Rio Tinto branded hard hat on a bench

WBHO group's order book grows by 43%, African order book at record level

By: Schalk Burger     13th September 2022 JSE-listed construction and engineering company Wilson Bayly Holmes-Ovcon (WBHO) on September 13 said its order book had shown strong growth of 43% across all divisions and key regions for 2023 and beyond, and its Africa order book had reached a record levels of R1.44-billion for the 2023... 

Ironveld’s Rustenberg smelter to go offgrid with hybrid power plant

By: Darren Parker     12th September 2022 Project development and engineering teams from energy solutions company Enernet Global have been working closely with iron-ore company Ironveld to develop an optimised hybrid power plant that will deliver clean, reliable and low-cost power for the company’s smelter facility in Rustenburg.... 

Ministers follow President in visiting Jagersfontein diamond disaster area

By: Martin Creamer     12th September 2022 Following the visit of President Cyril Ramaphosa to the Jagersfontein-Charlesville area in the Free State, Minerals Resources and Energy Minister Gwede Mantsashe will today visit the diamond tailings deposition dam that burst its banks, killing at least one person and destroying homes. Mineral... 

Google map of the Jagersgontein tailings dam, which has burst its banks.
Photo by Google Maps
Google map of the Jagersgontein tailings dam, which has burst its banks.

Miners spending big on R&D - report

By: Esmarie Iannucci     8th September 2022 Australian miners have invested some A$30-billion into research and development since 2005, a new report by the Minerals Council of Australia (MCA) has found. The Digital Mine report found that this innovation has improved safety, driven greater productivity, delivered sustainable development... 

Traditional minerals have a role to play in net-zero targets - Minister

By: Esmarie Iannucci     7th September 2022 Federal Resources Minister Madeleine King said that there was still scope for Australia to provide traditional commodities such as iron-ore and coal to meet global demand, but that the country should also capitalise on the net-zero drive. Speaking at a Minerals Week event, in Canberra, King... 

Image shows an iron-ore lump held in hand

Sundance Resources says Cameroon breached court order over Mbalam iron-ore licence

By: Reuters     5th September 2022  Australian mining company Sundance Resources said on Monday that Cameroon has breached an international court order by handing over its licence to the Mbalam iron-ore deposit to a local company amid an ownership dispute. Sundance has been in dispute with authorities in Cameroon and neighbouring... 

Hawsons hoping for Major Project status in South Australia

By: Esmarie Iannucci     5th September 2022 The South Australian government will assess the Hawsons iron project as a possible Major Project, subject to a state-run process and the determination of assessment requirements towards Environmental Impact Statement (EIS) obligations. ASX-listed Hawsons Iron’s next step would be to lodge a... 

Vale-BHP nearly double offer in mine disaster settlement

By: Bloomberg     2nd September 2022 Samarco and its owners, Vale and BHP Group, agreed to almost double their offer in compensation for a 2015 mine waste disaster in Brazil, according to people with knowledge of the matter who asked not to be named because the discussions are private. The mining companies raised the proposal to... 

ARM ups dividend, highlights climate commitment, shifts to green energy  

By: Martin Creamer     1st September 2022 Diversified mining company African Rainbow Minerals (ARM) on Thursday paid higher dividends, reiterated its full commitment to climate change mitigation, and outlined the start of its intended shift towards the implementation of renewable energy. In affirming the Johannesburg Stock... 

African Rainbow Minerals executive chairperson Dr Patrice Motsepe.
African Rainbow Minerals results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Mining tycoon's conviction may have cost him billionaire status

By: Bloomberg     1st September 2022 Beny Steinmetz, the Israeli mining tycoon fighting a bribery conviction, told a Swiss court that the scandal has taken a heavy toll on his reputation and suggested that it may even have cost him billionaire status. On his first day of testimony, the one-time diamond trader said relations with... 

Genmin hopes for Gabon mine start by 2024

By: Esmarie Iannucci     1st September 2022 Junior Genmin is targeting first production from its Baniaka iron-ore project, in Gabon, by mid-2024. MD and CEO Joe Ariti told delegates at the second day of Paydirt’s Africa Downunder conference, in Perth, that the prefeasibility study for the Baniaka is due in the current quarter. 

Anglo American may provide funding for Australian iron-ore mine

By: Mariaan Webb     31st August 2022 Exploration and development company Alien Metals has entered into a mandate letter with Anglo American, giving the diversified major an exclusive right to negotiate project funding and offtake arrangements for the Hancock iron-ore project, in Western Australia. Alien subsidiary Iron Ore Company... 

Ironveld to acquire FCF smelter

By: Tasneem Bulbulia     31st August 2022 Aim-listed Ironveld has signed a share purchase agreement (SPA) to acquire 100% of the share capital of Ferrochrome Furnaces (FCF), which will provide the company with an existing smelting facility and the opportunity to start mining and processing in the short term. Ironveld, through its... 

Iron-ore futures drop below $100 on China Covid, steel curbs

By: Reuters     30th August 2022 Dalian and Singapore iron ore futures dropped below $100/t on Tuesday, while spot prices slumped to the lowest in a week, pressured by renewed worries over Covid-19 curbs and steel output restrictions in top producer China. The most-traded January iron ore contract on China's Dalian Commodity... 

Steinmetz seeks to repair reputation with Swiss bribery appeal

By: Bloomberg     29th August 2022 Israeli mining billionaire Beny Steinmetz will begin his battle this week to overturn his bribery conviction and repair a reputation tarnished by a landmark Swiss ruling that focused on an industry dogged by allegations of graft. Steinmetz, who built his fortune as a diamond trader, will return... 

$3bn investment approved for Onslow iron-ore mine

By: Esmarie Iannucci     29th August 2022 ASX-listed Mineral Resources (MinRes) on Monday announced a $3-billion final investment decision for the Red Hill iron joint venture (RHIOJV), which forms part of its Ashburton hub development. MinRes holds a 40% interest in the RHIOJV, while API Management (APIM), on behalf of the Australia... 

Image shows an up-close of iron-ore in ground

Fortescue posts record shipments and solid results

By: Esmarie Iannucci     29th August 2022 Iron-ore major Fortescue Metals on Monday announced that record shipments during the 2022 financial year had contributed to the company’s second highest earnings and operating cash flow in the company’s history. Fortescue shipped 189-million tonnes of iron-ore during the full year ended June,... 

Afrimat CEO upbeat on group’s interim financials despite lower iron-ore prices

By: Darren Parker     26th August 2022 Although precluded from divulging any specific financial information during a pre-close briefing held on August 26, JSE-listed midtier construction materials, industrial minerals and bulk commodities mining company Afrimat CEO Andries van Heerden said the group’s financial situation was “very... 

Afrimat CEO Andries van Heerden
Afrimat CEO Andries van Heerden

Transnet and unions declare wage deadlock, strike looms 

By: Reuters     26th August 2022 South Africa's Transnet announced on Friday a deadlock in wage negotiations, with two labour unions raising the prospect of a strike that could further cripple the State-owned logistics company and impact Africa's most advanced economy. Transnet has been operating below capacity due to the... 

Rail infrastructure owned by Transnet

Mine-disaster settlement talks irk Brazil officials as deadline approaches

By: Bloomberg     25th August 2022 The latest talks over a multibillion-dollar settlement for a 2015 mining disaster failed to yield a deal, with Brazilian officials signaling the two sides are still far apart with time running out. “We don’t have an agreement and no perspective that we’ll have one,” Minas Gerais State Planning... 

Strike pauses Paulsens as first shipment readies

By: Esmarie Iannucci     25th August 2022 ASX-listed Strike Resources is readying for the maiden shipment from its Paulsens East iron-ore mine, in the Pilbara, before the end of August, but has paused further shipments. The company on Thursday said that some 60 000 to lump direct shipping ore (DSO) has been stockpiled at the Utah Point... 

Mining majors ramping up their diversification policies

By: Darren Parker     24th August 2022 Mining majors are ramping up their diversification policies to capitalise on or react to decarbonisation trends by targeting new growth markets, while seeking to divest from coal, oil and gas production, market research firm Fitch Solutions Country Risk and Industry Research says. In a report... 

Plans progressing for 744 MW energy for alloys business – Merafe 

By: Martin Creamer     23rd August 2022 Construction of the Swedish Stirling plant that converts off-gas to electricity will take place at the Lion ferrochrome smelter near Steelport starting in the second half of this year, Merafe Resources CEO Zanele Matlala said on Tuesday, when the ferrochrome company announced a dividend-yielding... 

Merafe CEO Zanele Matlala and Merafe FD Ditabe Chocho.
Photo by Creamer Media
Merafe CEO Zanele Matlala and Merafe FD Ditabe Chocho.

Fatality-free Merafe declares cash dividend on 68% earnings surge

By: Martin Creamer     23rd August 2022 Ferrochrome company Merafe Resources on Tuesday reported a profit of R925-million for the six months ended June 30 on higher realised ferrochrome prices and a weaker rand-dollar exchange rate. Ferrochrome prices have since declined and cost pressures from inflation, higher reductant costs, chrome... 

Merafe CEO Zanele Matlala.
Photo by Creamer Media
Merafe CEO Zanele Matlala.

Vale tests 72-t battery-powered trucks

By: Mariaan Webb     22nd August 2022 Diversified major Vale has received two battery-powered 72-t off-highway trucks, which will be tested in the mines of Água Limpa, in Brazil, and Sorowako, in Indonesia. These trucks, produced by a subsidiary of Chinese machine manufacturer Xuzhou Construction Machinery Group (XCMG), can operate... 

The 72-tonne electric truck in operation in Indonesia
Photo by Vale
The 72-tonne electric truck in operation in Indonesia

Fortescue to spend big in Gabon

By: Esmarie Iannucci     22nd August 2022 A joint venture (JV) led by iron-ore major Fortescue Metals will invest some $90-million on exploring the Belinga iron-ore project, in Gabon, over the next three years. Fortescue announced that the JV, Ivindo Iron SA, in which the company holds an 80% interest, had signed an exploration... 

Fortescue to spend big in Gabon

China demand doubts darken mood as miners baulk at energy costs

By: Reuters     19th August 2022 The prospect of a global recession and doubts over economic stimulus in China, the world's biggest user of raw materials, add to the challenges of mining companies as they grapple with energy costs, raising the risk of downsizing and layoffs. None of the major diversified miners is under... 

ERG halts iron-ore supply to Russia's MMK due to sanctions

By: Reuters     19th August 2022 Eurasian Resources Group (ERG) has halted iron ore supplies to Russia's MMK from its giant Kazakh operation due to Western sanctions against the Russian company, ERG chairman Alexander Mashkevich said on Friday. MMK was once the main buyer of iron-ore from ERG's unit located in Kazakhstan's... 

South Africans called on to apply for funding to build South Africa’s hydrogen economy 

By: Martin Creamer     19th August 2022 A call for funding applications to be submitted for the development of the hydrogen economy is made in an advertisement placed today by South Africa’s Technology Innovation Agency (TIA), an entity of the Department of Science and Innovation (DSI). The call is for funding applications to be... 

Call for applications for funding for developing the hydrogen economy in South Africa.
Call for applications for funding for developing the hydrogen economy in South Africa.

Exxaro's half-year earnings soar 147% to R10bn

By: Martin Creamer     18th August 2022 Diversified resources group Exxaro on Thursday reported increased half-year revenue, earnings and sufficient cash flow to fund capital expenditure and dividends. Group earnings before interest tax depreciation and amortisation (Ebitda) increased by 147% to R10 603-million on mainly the 142%... 

A photo of Exxaro's Grootegeluk mine
Photo by Creamer Media's Donna Slater
Exxaro's Grootegeluk mine

Northern Cape level crossing incident results in damage to rail track, equipment

By: Schalk Burger     17th August 2022 The railway track and overhead track equipment at the Glosam level crossing, in the Northern Cape, sustained significant damage when a truck collided with a train owned and operated by State-owned Transnet Freight Rail (TFR), on August 16. TFR reports that there were no injuries, but says the... 

Iron-ore subdued on China demand concerns

By: Reuters     16th August 2022 Dalian and Singapore iron-ore futures were volatile on Tuesday as traders weighed curbs in industrial electricity consumption in China's Sichuan province that hit steel production. Iron ore's front-month September contract on the Singapore Exchange SZZFU2 was down 0.3% at $105.65 a tonne, as of... 

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