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Iron Ore News

Warning of ‘significant losses’ in South African mining industry if coronavirus outbreak is not contained soon 

By: Terence Creamer     3rd March 2020 A newly released report by Trade and Industrial Policy Strategies (TIPS) warns that South Africa’s mining industry could suffer “significant losses” should the coronavirus, or Covid-19, not be contained in the short term, which the authors defined as being by April 2020. In a policy brief, TIPS... 

Swanepoel steps down as ARM director

By: Creamer Media Reporter      3rd March 2020 Bernard Swanepoel has stepped down as an independent nonexecutive director of diversified miner African Rainbow Minerals (ARM). Independent nonexecutive ARM director and investment committee member David Noko has been appointed ARM’s investment committee chairperson with immediate effect. 

MoU aims to raise Brazil’s profile among Canadian mining investors

By: Mariaan Webb     2nd March 2020 The Brazilian mining association, or Ibram, has signed a memorandum of understanding (MoU) with the TSX and TSX-V to establish a relationship to increase investment in the Brazilian mining sector in the coming years. The organisations will work together to increase the number of Brazilian mining... 

MoU aims to raise Brazil’s profile among Canadian mining investors
From left to right: Evelyn Coulombe, Consul General of Canada in Rio de Janeiro, Wilson Nélio Brumer, Ibram chairperson, Robert Peterman, TMX VP for global business development and Guillaume Légaré, TMX head of South America.

Iron-ore soars as China port stocks dip, stimulus hopes grow

By: Reuters     2nd March 2020 China's iron-ore futures hit the upside limit on Monday as declining stockpiles at ports indicated steel mills' improving appetite for the raw material, while expectations grew Beijing will roll out further support for its paralysed economy. iron-ore on the Dalian Commodity Exchange ended up 5.8%... 

Going green is a good business proposition ­– Schmidt  

By: Martin Creamer     28th February 2020 Going green and ensuring environmental protection is a good business proposition, African Rainbow Minerals (ARM) CEO Mike Schmidt said on Friday. Speaking to Mining Weekly after the company had declared a 25% higher dividend on the back of its platinum division reporting a 193%-better performance... 

Going green is a good business proposition ­– Schmidt
ARM CEO Mike Schmidt talks to Mining Weekly’s Martin Creamer. Video Work: Darlene Creamer

South Africans working together will find energy solutions – ARM  

By: Martin Creamer     28th February 2020 South Africans working together with confidence and enthusiasm will improve the country and find energy solutions, African Rainbow  Minerals (ARM) executive chairperson Dr Patrice Motsepe said on Friday. Presenting a 25% higher interim dividend and a 193%-better performance from ARM Platinum in... 

South Africans working together will find energy solutions – ARM
ARM half-year results covered by Mining Weekly’s Martin Creamer. Video Work: Darlene Creamer

Havilah finds possible port solution

By: Esmarie Iannucci     28th February 2020 ASX-listed Havilah Resources has inked a confidential non-binding memorandum of understanding (MoU) with Port Augusta Operations for the use of an iron-ore port and transshipment facility. Port Augusta Operations holds a 99-year lease over the former Port Playford, which it is developing into an... 

China ferrous metals' sell-off intensifies amid pandemic, recession fears

By: Reuters     28th February 2020 Prices of steel products and raw materials on China's futures markets tumbled on Friday, with iron-ore dropping nearly 5% as the fast-spreading coronavirus fuelled fears of a global recession, darkening the demand outlook for ferrous metals. China, where the coronavirus originated and has... 

Vale preparing for potential fuel leak from damaged ore carrier

By: Reuters     28th February 2020 Brazilian mining company Vale said on Thursday it has begun preparations for a potential fuel leak from the damaged iron-ore carrier MV Stellar Banner, which is stranded off the Brazilian northern coast. Vale said in a statement it requested that oil company Petrobras appropriate ships to deal... 

Vanadium One Iron outlines plan for high-grade Quebec iron project

By: Mariaan Webb     28th February 2020 The recently completed preliminary economic assessment (PEA) for the Mont Sorcier iron and vanadium project is supporting TSX-V-listed Vanadium One Iron Corp’s vision for a mine near Chibougamau, Quebec. Announcing the results of the PEA on Thursday, the company said that the study outlined a... 

ARM buoyed by soaring platinum earnings, ups dividend  

By: Martin Creamer     28th February 2020 The earnings of black-owned diversified mining company African Rainbow Minerals ARM were buoyed in the six months to December 31 by soaring platinum earnings, which helped to offset lower manganese metals and thermal coal prices. ARM Platinum’s half-year headline earnings rocketed 193% to... 

ARM buoyed by soaring platinum earnings, ups dividend
Photo by Creamer Media
Patrice Motsepe

Anglo welcomes Mboweni’s move to facilitate cross-border transactions

By: Simone Liedtke     27th February 2020 Diversified miner Anglo American has welcomed the number of measures to facilitate cross-border financial transactions, in support of trade and investment, announced by South Africa’s Finance Minister Tito Mboweni during his National Budget Speech on Wednesday. In a statement on Thursday, Anglo... 

Vale says iron-ore ship was damaged

By: Reuters     27th February 2020 Brazilian miner Vale said on Wednesday the bow of the iron ore ship "MV Stellar Banner" was damaged after leaving a port in the northern Brazilian state of Maranhao on Monday. Vale said in a statement that the ship, which is 100 km off the Brazilian coast, is owned and operated by the South... 

While $1bn green investment is laudable, Rio Tinto has to do more – Woodmac

By: Mariaan Webb     26th February 2020 Global miner Rio Tinto’s announcement that it will spend $1-billion to reach net zero emissions by 2050 has been hailed as a “small, but significant step in the right direction”, however Wood Mackenzie vice chairperson of metals and mining Julian Kettle said on Wednesday that the iron-ore major... 

Rio CEO says world must sacrifice growth to meet climate goals

By: Bloomberg     26th February 2020 Rio Tinto Group’s CEO said the world must be prepared to sacrifice growth to achieve climate goals as the natural resources industry comes under increasing pressure to curb emissions. “The challenge for the world, and for the resources industry, is to continue the focus on poverty reduction and... 

Rio CEO says world must sacrifice growth to meet climate goals
Rio Tinto CEO Jean-Sebastien Jacques

Record stash of steel in China as demand slammed

By: Bloomberg     25th February 2020 The world’s largest steel industry just sent out another warning flare as producers grapple with the coronavirus outbreak: nationwide stockpiles of reinforcement bar have swelled to the most on record. The surge is a reflection of the dislocation caused by the disease and efforts to fight it.... 

Even without a case, Africa may be a big victim of coronavirus

By: Bloomberg     24th February 2020 Even without a single confirmed case, sub-Saharan Africa may be the region hardest hit outside of Asia by the spread of the coronavirus. The outbreak has shut down entire swathes of the Chinese economy, threatening world economic growth and curbing appetite for oil and metals that are the... 

Vale says 'no new facts' in internal report on deadly dam disaster

By: Reuters     21st February 2020 An in-depth internal report examining the causes of Vale SA's deadly Brumadinho tailings dam disaster last year contained "no new facts, nor surprises," the company's general counsel said on Friday. Late on Thursday, Vale released the report, which said the company had information as far back as... 

Solar power for mines under consideration – Assore 

By: Martin Creamer     21st February 2020 A scoping study is under way into the self-generation of electricity for Assmang’s mines – but not its smelters, Assore CEO Charles Walters said on Friday, when the company reported interim results that were negatively affected by weaker chrome and manganese prices, and lower shipments of... 

Solar power for mines under consideration – Assore
Photo by Assore
Assore's mines and logisitcs routes

Price-hit Assore half-year earnings down, interim dividend upheld 

By: Martin Creamer     21st February 2020 JSE-listed base mineral and metals miner Assore, which on Friday reported net cash at a lower level of R8.1-billion, has declared an interim dividend of R7 a share for the half-year. Headline earnings for H1 FY20 decreased by 28% to R2,1 billion, compared to R2,9 billion for the H1 FY19. Assmang,... 

Price-hit Assore half-year earnings down, interim dividend upheld
Photo by Creamer Media
Charles Walters

FutureSmart, P101 earn Anglo $4.7bn

By: Martin Creamer     20th February 2020 The smart technology and efficiency enhancing programmes of diversified mining company Anglo American have netted the company $4.7-billion so far. FutureSmart Mining (TM) programmes deliver additional value from equipment and processes and P101 uplifts the performance of existing operating... 

FutureSmart, P101 earn Anglo $4.7bn
Photo by Anglo American
Playing precisely to the demand for a cleaner, greener and more sustainable world.

Anglo’s earnings margins poised to strengthen – Cutifani 

By: Martin Creamer     20th February 2020 The strong 2019 earnings margins of Anglo American are poised to strengthen further in 2020, CEO Mark Cutifani said on Thursday. The 2019 earnings before interest, taxes, depreciation and amortisation (Ebitda) margins of the London- and Johannesburg-listed diversified mining company ranged from... 

Anglo’s earnings margins poised to strengthen – Cutifani
Photo by Anglo American
Anglo American calculates that these earnings margins will increase in 2020.

Anglo’s hydrogen fuel truck ‘a great initiative’ – Cutifani 

By: Martin Creamer     20th February 2020 Anglo American CEO Mark Cutifani on Thursday described the building of the world’s largest hydrogen fuel cell haul truck in Limpopo as a great initiative that would in time be rolled out across the platinum group metals (PGMs), diamonds, copper and iron-ore mining company. Hydrogen fuel cell... 

Anglo’s hydrogen fuel truck ‘a great initiative’ – Cutifani
Photo by Anglo American
Four-part forward thrust.

Palabora, Grindrod sign five-year magnetite handling contract

By: Marleny Arnoldi     20th February 2020 JSE-listed freight and logistics company Grindrod has entered into a five-year contract to transport five-million tonnes a year of magnetite by rail from copper miner Palabora Mining Company's operations, in Limpopo, to the Matola terminal, in Mozambique, where it will store the magnetite.... 

Colombia looks to recover $181.5m in alleged unpaid royalties from South32

By: Reuters     20th February 2020 Colombia has launched an investigation over alleged unpaid royalties of 619-billion pesos ($181.5-million) from iron and nickel production at Australian miner South32's Cerro Matoso mine between 1982 and 2012, the country's comptroller said Wednesday. According to initial findings the Australian... 

Anglo delivers $3.5bn profit, declares final dividend 

By: Martin Creamer     20th February 2020 Diversified mining company Anglo American delivered 2019 profit attributable to equity shareholders of $3.5-billion, in line with the prior year. The company, headed by CEO Mark Cutifani, generated underlying earnings of $10-billion, a 9% increase, and $2.3-billion of attributable free cash flow. 

Anglo delivers $3.5bn profit, declares final dividend
Photo by Creamer Media
Anglo American CEO Mark Cutifani

South Africa could use mining royalties to set up sovereign fund – Minister

By: Reuters     20th February 2020 South Africa could use mining royalties to set up a proposed sovereign wealth fund, Mineral Resources and Energy Minister Gwede Mantashe said on Wednesday. President Cyril Ramaphosa said in an annual address to parliament last week the government had decided to establish a sovereign fund, but he... 

Mt Gibson's revenue soars

By: Esmarie Iannucci     19th February 2020 Junior miner Mount Gibson Iron has reported higher revenues for the first half of 2020, on the back of increased iron-ore production. Mount Gibson on Wednesday reported that iron-ore sales for the six months to December had reached 2.8-million tonnes, up from the 2.2-million tonnes produced in... 

Fortescue's new mix and higher prices pay off

By: Esmarie Iannucci     19th February 2020 Iron-ore major Fortescue Metals has reported record half year revenues during the six months ending December, after iron-ore shipments increased by 7% on the previous corresponding period. Iron-ore shipments in the first half of the 2020 financial year reached 88.6-million tonnes, up from the... 

Fortescue's new mix and higher prices pay off

Alderon adds second Chinese partner to Kami mine

By: Mariaan Webb     18th February 2020 Beijing-headquartered diversified group Tunghsu has signed a letter of intent to acquire a 26% to 38% interest in the Kami Mine Limited Partnership (Kami LP) from Alderon Iron Ore for between $15-million and $23-million, the TSX-listed iron-ore company announced on Tuesday. Tunghsu will be the... 

Alderon adds second Chinese partner to Kami mine

India’s NMDC firms up capex to lift production by 50%

By: Ajoy K Das     18th February 2020 Indian State-run miner NMDC, the country’s largest iron-ore producer, has firmed up capital investments of $324-million to increase production by 50% to 48-million tons a year by the end of 2020/21. The State miner is committing higher capital expenditure (capex) and is significantly ramping up... 

Kumba pays out 92% of HEPS to shareholders as iron-ore prices lift earnings 

By: Marleny Arnoldi     18th February 2020 JSE-listed miner Kumba Iron Ore delivered a payout ratio of 92% of headline earnings per share (HEPS) for the year ended December 31, exceeding its 50% to 75% dividend payout policy. The company declared a final cash dividend of R15.99 apiece, which, combined with the interim dividend of R30.79... 

Kumba pays out 92% of HEPS to shareholders as iron-ore prices lift earnings
Photo by Creamer Media's Donna Slater
Kumba Iron Ore CEO Thamba Mkhwanazi

Rio downgrades iron-ore expectations after cyclone

By: Esmarie Iannucci     18th February 2020 Diversified giant Rio Tinto has downgraded its iron-ore export expectations for the full 2020, in the wake of Tropical Cyclone Damien. The miner on Tuesday noted that the cyclone had caused infrastructure damage across its entire Pilbara network, including access roads, electrical and... 

ARM's basic earnings expected to rise

By: Simone Liedtke     17th February 2020 Diversified miner African Rainbow Minerals (ARM) expects its basic earnings for the first half of the 2020 financial year to increase by between 60% and 65% to between just over R2-billion and R2.1-billion. Basic earnings per share for the six months under review are expected to be between 1 081c... 

Rio Tinto to build 34 MW solar plant at Pilbara mine

By: Mariaan Webb     17th February 2020 Diversified mining company Rio Tinto is investing in its first company-owned solar facility, with about 100 000 solar panels set to supply electricity to its new Koodaideri mine in Australia’s Pilbara. The company is investing $98-million in a 34 MW solar photovoltaic (PV) plant, which is... 

Rio Tinto to build 34 MW solar plant at Pilbara mine

Brazil state judge accepts charges against Vale ex-CEO, others over dam burst

By: Reuters     17th February 2020 A Brazilian state judge has accepted charges against Vale former CEO Fabio Schvartsman and 15 others related to a fatal disaster at the iron-ore miner's Brumadinho tailings dam a year ago, according to a statement on Friday. The move by a judge in Brazil's mining heartland of Minas Gerais... 

Brazil state judge accepts charges against Vale ex-CEO, others over dam burst
Former Vale CEO Fabio Schvartsman

Beowulf considering 'all legal options' over stalled Swedish project

By: Mariaan Webb     13th February 2020 Exploration and development company Beowulf Mining is considering “all options to take legal action” against the government of Sweden, but said on Thursday that it had not taken a decision yet. CEO Kurt Budge confirmed that the board of Beowulf met in Stockholm this week and that they were... 

Gold drives South Africa’s mining production higher

By: Simone Liedtke     13th February 2020 Mining production in South Africa increased by 1.8% year-on-year in December, Statistics South Africa (Stats SA) reported on Thursday. The largest contributors to this were gold, with output up 24.9% and contributed 2.7 percentage points; other nonmetallic minerals, which was up 24.1% and... 

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