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Iron Ore News
Magnetite raises cash for Razorback
By: Esmarie Iannucci 7th May 2021 ASX-listed Magnetite Mines will raise A$7-million in a share placement to sophisticated and institutional investors to advance studies at the Razorback iron-ore project, in South Australia. The company would issue more than 120.8-million shares, at a price of 5.8c each under its existing... →
Jupiter completes Juno demerger
By: Esmarie Iannucci 7th May 2021 ASX-listed Jupiter Mines has completed the demerger of Juno Minerals, via an in-specie distribution of shares to Jupiter shareholders. Jupiter on Friday said that Juno has also received conditional approval to be admitted to the official list of the ASX, triggering the completion of the... →
Rio extends another apology to Traditional Owners
By: Esmarie Iannucci 7th May 2021 Diversified miner Rio Tinto has again pleaded for forgiveness for the destruction of the Juukan Gorge rock shelters in the Pilbara last year. Speaking at the company’s annual general meeting this week, CEO Jakob Stausholm that the destruction of the cultural heritage site had been ‘a terrible... →
Aus working on resource export strategy
By: Esmarie Iannucci 7th May 2021 The federal government has announced a A$20-million investment into a Global Resources Strategy, to help diversify exports and find new markets for Australia’s resources and Technology. Resources, Water and Northern Australia Minister Keith Pitt on Friday said that the aim of the new strategy is... →
Fitch Solutions forecasts higher iron-ore price on the back of strong Chinese demand
By: Simone Liedtke 6th May 2021 Research agency Fitch Solutions Country Risk and Industry Research has revised its iron-ore price forecast for this year higher to an average of $160/t, from its previous forecast of $120/t, as exceptionally strong demand from the Chinese and global steel industry contributed to prices breaking... →
Rio Tinto shareholders vote in favour of remuneration policy at AGM
By: Reuters 6th May 2021 A majority of Rio Tinto's shareholders rejected the global miner's executive pay packages on Thursday, in a backlash over its destruction last year of ancient rock shelters in Western Australia. Rio Tinto blasted 46 000-year-old rock shelters at Juukan Gorge last May to expand an iron-ore mine,... →
Trade tensions rise between China and Aus
6th May 2021 Advisory firm WoodMackenzie (WoodMac) has warned that the escalation in the geopolitical dispute between China and Australia was likely to have an impact on the resources sector. China’s state planner, the National Development and Reform Commission (NDRC) on Thursday reportedly announced an... →
Iron-ore’s blistering rally sets sights on $200 as steel booms
By: Bloomberg 5th May 2021 A surge in steel consumption as the world emerges from its pandemic-induced slump is set to drive iron-ore to an unprecedented high as the biggest miners struggle to keep up with the frenzied pace of demand. Expectations are building that benchmark prices can get to $200/t -- topping the record... →
Vale raises number of independent board members to eight
By: Reuters 4th May 2021 Brazilian miner Vale said in a securities filing on Monday the company has elected eight independent board members, up from three independent members over the last years. The group includes the former CEO of State-controlled oil company Petroleo Brasileiro, Roberto Castello Branco. Other... →
IDC’s Montsheng Tsele appointed Kumba nonexec director
By: Simone Liedtke 3rd May 2021 JSE-listed Kumba Iron Ore has appointed Montsheng Tsele as nonexecutive director, with effect from April 30. Kumba is 63.4% owned by Anglo American, 13.1% by the Industrial Development Corporation (IDC) and 23.5% owned by minority shareholders. →
Record metals prices catapult mining profits beyond big oil
By: Bloomberg 3rd May 2021 Major oil producers, for decades the natural resource industry’s top earners, are being eclipsed by once-smaller mining peers who are churning out record profits thanks to red-hot metals markets. The mining windfall is the latest sign of a boom in iron ore, copper and other metals that’s sending... →
Iron Road raises funds
By: Esmarie Iannucci 3rd May 2021 ASX-listed Iron Road will raise A$4.25-million through a share placement to institutional and sophisticated investors to advance work on the Cape Hardy port precinct development, maintenance of its Central Eyre iron project mining lease and secondary approvals and costings for a 12-million tonne... →
Fortescue commissions largest integrated battery energy storage system
By: Esmarie Iannucci 30th April 2021 Iron-ore major Fortescue has contracted Perth-based Pacific Energy’s subsidiary Contract Power Australia to build Western Australia’s largest network integrated battery energy storage system (BESS). Contract Power will design, construct, test, install and commission two BESS units as part of... →
Vale unit fined over alleged Brazilian environmental irregularities
By: Reuters 30th April 2021 The Brazilian city of Itaguaí has fined a subsidiary of miner Vale for allegedly not complying with environment regulations, according to a statement from local authorities on Thursday. Companhia Portuária Baía de Sepetiba (CPBS), Vale's port subsidiary, was fined 2.3-million reais ($430 348)... →
Afarak notes quarterly decline in output, particularly ferroalloys
By: Marleny Arnoldi 29th April 2021 LSE- and Nasdaq-listed Afarak Group has reported a 50.6% decline in production for the first quarter of this year, to 37 000 t, owing to reduced mining activity at its South African mines in line with lower market prices and demand. Production in the first quarter of last year totalled 76 405 t. →
Champion Iron produces over 8Mt, achieves stable recovery rate of 82.6%
By: Simone Liedtke 29th April 2021 TSX- and ASX-listed Champion Iron produced just over eight-million wet metric tonnes (WMT) of high-grade 66.4% iron-ore concentrate for the financial year ended March 31, compared with just over 7.9-million WMT for the same period in 2020. This resulted in a stable recovery rate of 82.6% for the... →
Fortescue posts record shipments in year-to-date
By: Esmarie Iannucci 29th April 2021 Iron-ore major Fortescue Metals on Thursday reported has reported record shipments for the nine months ended March, following a strong third quarter. Iron-ore shipments in the three months to March reached 42.3-million tonnes, which was on par with the record third quarter shipments reported... →
Mining policy should be hugely supportive of exploration’s multiplier magic – investor 
By: Martin Creamer 28th April 2021 Mining, preceded by exploration, is the greatest economic multiplier of all business activities, including government expenditure, says Integral Asset Management chief investment officer Bruce Williamson. It therefore makes huge sense for government to enact attractive investment-friendly... →
China boosts bid to cut steel output with import tax changes
By: Bloomberg 28th April 2021 China stepped up its drive to rein in steel production and fight rocketing iron ore prices by canceling import taxes on some steelmaking materials and raising costs for exporters. Import fees on pig iron, semi-finished and scrap steel will be set to zero from May 1, the Ministry of Finance said... →
Brazil's Vale, eyeing EV market, mulls base metal spinoff
By: Reuters 28th April 2021 Brazilian iron-ore miner Vale is "closely analyzing" a possible spinoff of its base metals division, Chief Executive Eduardo Bartolomeo said on Tuesday, a move that could help the company take advantage of increasing demand from electric car manufacturers. The company previously considered... →
Soaring iron-ore prices boosting Aus revenues
By: Esmarie Iannucci 28th April 2021 Record iron-ore prices is expected to boost Australia’s iron-ore export value to raise to A$136-billion in 2020-21, up from a previous record of A$103-billion in 2019-20, federal Resources Minister Keith Pitt said on Wednesday. He said the higher prices reaffirmed Australia’s position as a... →
Tackling climate change could not be more urgent – Anglo American
By: Martin Creamer 26th April 2021 Tackling climate change could not be more urgent, Anglo American said on Monday when it presented its biannual sustainability performance update. “For the emissions that we control in our business, we have come a long way, delivering our 2020 target to reduce greenhouse gas emissions by 22% a... →
From left, clockwise Mark Cutifani, Anik Michaud and Stephen Pearce
China steel, iron-ore futures hit record highs on strong demand, supply fears
By: Reuters 26th April 2021 Chinese steel futures closed at all-time highs on Monday, underpinned by robust demand and concerns over production curbs, while benchmark iron ore prices hit record highs, fuelled by structural supply shortage. The northwest Shaanxi province recently urged local departments, as requested by... →
Copper jumps to highest since 2011 as demand bets reignite rally
By: Bloomberg 26th April 2021 Copper surged to the highest in a decade on expectations supply will tighten as the global economic recovery gains traction. Prices have climbed amid a broad rally across industrial commodities from iron-ore to aluminum. Economic bellwether copper has been boosted by prospects for rebounding... →
Mangaratiba iron-ore terminal in Brazil reopens
By: Reuters 23rd April 2021 The environmental agency of Brazil's Rio de Janeiro state said on Thursday it has allowed Vale's iron ore terminal in Mangaratiba to reopen. Earlier authorities had closed the Ilha de Guaiba terminal, which exports nearly 40-million tons of iron-ore a year, saying it had been operating without a... →
Plans for Marillana firm up as JV is established
By: Esmarie Iannucci 23rd April 2021 Juniors Brockman Mining and Mineral Resources (MIN) will officially form a joint venture (JV) over the Marillana iron-ore project, in Western Australia, to progress it towards development. The ASX-listed Brockman on Friday announced that MIN’s farm-in obligations, through its subsidiary Polaris... →
Programme showing promising results
By: Halima Frost 23rd April 2021 The Advanced Orebody Knowledge (AOK) programme – one of six research programmes of the Mandela Mining Precinct – has reported notable results across a range of tests being conducted using the Precinct’s test mine near Rustenburg, in the North West. The programme aims to test and develop... →
Glencore chair defends pay plan for commodity trader’s new CEO
By: Bloomberg 22nd April 2021 Glencore's chairperson defended an incentive plan for the commodity giant’s new chief executive officer, after prominent advisory firms urged investors to vote against it. Gary Nagle, the handpicked successor of outgoing CEO Ivan Glasenberg, will take over the helm of the world’s biggest... →
Vale's Mangaratiba iron-ore terminal shut down
By: Reuters 22nd April 2021 A Vale iron-ore terminal in Mangaratiba in the state of Rio de Janeiro has been closed because of potential environmental problems, according to a statement issued by Brazilian authorities. The Ilha de Guaiba terminal, which exports nearly 40-million tons of iron-ore a year, had been operating... →
Kumba records good quarter
By: Tasneem Bulbulia 22nd April 2021 Anglo American subsidiary Kumba Iron Ore’s output for the first quarter of this year was ahead of that of the comparative quarters in 2019 and 2020. Production increased by 10% year-on-year to 10.6-million tonnes, driven by improved performances at both the Sishen and Kolomela mines in the... →
Anglo American lifts first-quarter output on strong copper, PGMs performance
By: Donna Slater 22nd April 2021 Diversified miner Anglo American managed to meet strong customer demand during the quarter ended March 31, despite some limited constraints at certain operations as a result of Covid-19, CE Mark Cutifani says. He notes that production for the quarter was achieved at 95% of normal operating capacity. →
Commodities of the future to boom over 20-year horizon
By: Donna Slater 21st April 2021 A significant number of commodities are set to experience strong demand growth over the next 20 years, while “conventional” commodities will receive an added boost as they take a central stage in the green and digital transitions, says financial risk management, solutions and insights company... →
Record output for BHP's iron-ore ops
By: Esmarie Iannucci 21st April 2021 Mining major BHP has reported record production from its Western Australian iron-ore operations during the nine months to March, despite a 4% fall in production during the March quarter on the back of wet weather and planned maintenance. Iron-ore production in the year-to-date was up 4% on the... →
Iron-ore giants challenged in race to meet soaring China demand
By: Bloomberg 20th April 2021 The world’s top two iron-ore miners struggled to keep up with strong Chinese demand in the first quarter of 2021, hit by operational challenges and weather disruptions, in a positive sign for prices that are already at decade highs. Brazil’s Vale churned out less ore than expected last quarter... →
Magnum secures hydrogen for Nevada magnetite project
By: Esmarie Iannucci 20th April 2021 Junior Magnum Mining and Exploration has inked an agreement with US-based AVF Energy to build a green hydrogen plant at Magnum’s steelmaking facility in Nevada. AVF has agreed to fund and build a commercial scale green hydrogen plant at Magnums’ magnetite mine site, providing Magnum with green... →
Vale output misses estimates in another boost to iron-ore rally
By: Bloomberg 20th April 2021 The world’s second-largest producer of iron-ore just gave another boost to rallying prices of the steelmaking ingredient at a time of strong Chinese demand. Vale churned out less iron ore than expected last quarter after lower productivity at one mine and a ship loader fire, with its recovery... →
Iron-ore stretches gains on global steel demand recovery
By: Reuters 19th April 2021 Iron-ore prices in Asia pushed higher on Monday as strengthening global steel demand buoyed sentiment, and as Chinese steel mills continued to ramp up output despite the government's scrutiny of their compliance with stricter anti-pollution rules. The most-traded September iron ore on China's... →
All eyes on Brazil for iron’s next move with Vale set to report
By: Bloomberg 19th April 2021 Vale, one of iron-ore’s biggest swing factors, may determine whether prices of the steelmaking ingredient break through to multiyear highs or retreat once again. The Rio de Janeiro-based mining company reports quarterly production after the close of trading Monday. Anything significantly below... →
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