R/€ = 17.12 Change: -0.05
R/$ = 16.38 Change: -0.09
Au 1801.88 $/oz Change: -13.14
Pt 896.50 $/oz Change: -20.00

Iron Ore News

Anglo partnership secures 100% renewable energy supply for South Africa operations 

By: Martin Creamer     18th March 2022 Diversified mining and marketing company Anglo American has signed a memorandum of understanding with global renewable energy company EDF Renewables to work together towards developing a regional renewable energy ecosystem in South Africa. The regional renewable energy ecosystem is expected to be... 

Now’s the time for full energy freedom, says green hydrogen stalwart Andrew Forrest 

By: Martin Creamer     17th March 2022 Let’s give energy sovereignty to the world. Renewable energy is everywhere. Every country can produce it. Now is the time to capture it, and have full energy freedom, enthused Fortescue Metals Group nonexecutive chairperson Andrew Forrest, while being interviewed by CNN anchor Christiane... 

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Photo by Creamer Media
Fortescue Metals Group nonexecutive chairperson Andrew Forrest (right), being interviewed by CNN anchor Christiane Amanpour.

Metals sector urged to seize South Africa’s beckoning Steel Master Plan opportunity  

By: Martin Creamer     16th March 2022 South Africa’s historic metals sector employer organisation on Wednesday urged all the sector’s employer bodies to roll up their sleeves on May 19 and 20 and get their teeth into the Steel Master Plan, which is seen to have promising reindustrialisation elements. President Cyril Ramaphosa... 

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Seifsa CEO Lucio Trentini interviewed by Engineering News & Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

NDC, Guinea government assume full control of Nimba project

By: Tasneem Bulbulia     15th March 2022 West-Africa focused resource development company Nimba Development Company (NDC) has been transferred control of Société de Développement Nimba (SDN), formerly Zali Mining and prior to that West African Exploration (WAE), the owner of the Nimba iron-ore project. Alongside NDC, which has an 85%... 

Magnum to fast-track US pig iron plans

By: Esmarie Iannucci     15th March 2022 Junior Magnum Mining & Exploration on Tuesday said that it would fast-track the development of its Buena Vista integrated pig iron production facility, in Nevada, as the prices of pig iron increased. The ASX-listed company on Tuesday told shareholders that the price of pig iron had risen by... 

Equivalent of a Koeberg arising in solar projects – AmaranthCX  

By: Martin Creamer     14th March 2022 The equivalent of a Koeberg power station is arising in the form of new largely mine-linked private-sector solar power photovoltaic projects across Southern Africa, according to AmaranthCX director and founder Paul Miller, whose company is working on the second edition of its electronic map of... 

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AmaranthCX director Paul Miller interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Weekly Commodities Market Wrap

14th March 2022 ENERGIES - Coal markets had a wild ride last week, with Richards Bay Coal Terminal physical prices reaching a high of around $450/mt, before coming back down to around $380. As we said previously, this was likely to be the high water mark with the most desperate utilities covering in the spot... 

A table with the latest global commodity spot prices

Work starts at Paulsens East

By: Esmarie Iannucci     14th March 2022 ASX-listed Strike Resources has started development at the Paulsens East iron-ore mine, in Western Australia, with construction now having started on an 18-km haul road between the mine site and the public Nanutarra-Munjina road. Construction of the haul road is expected to take 10 to 12 weeks,... 

Billionaire Friedland banks on Liberia’s railway to tap Guinean iron

By: Bloomberg     11th March 2022 A mining company controlled by billionaire Robert Friedland is counting on getting access to a Liberian railway in order to develop its Nimba project in neighbouring Guinea, one of the largest untapped iron-ore resources. High Power Exploration wants to begin development of Nimba -- located near... 

Robert Friedland
Photo by Creamer Media
Robert Friedland

Guinea suspends Simandou iron-ore project, saying there has been no progress

By: Reuters     11th March 2022 Guinea's ruling junta has ordered the cessation of all activities at the massive Simandou iron-ore deposit owned by Rio Tinto and a Chinese-backed consortium, saying it was seeking clarification of how Guinea's interests will be preserved. Simandou, in Guinea's remote south-eastern corner, is... 

An image of the area around the Simandou project in Guinea

Creditors of Vale-BHP venture Samarco suspend assembly to analyse new proposal

By: Reuters     11th March 2022 Creditors of Brazilian miner Samarco Mineracao have suspended their assembly to reconvene on April 1 after the company presented a new restructuring plan on Thursday. Samarco, a joint venture between Vale and BHP Group, changed its restructuring plan to offer a new alternative to pay creditors,... 

Rosond focusing on consolidation amid plans for further growth

By: Schalk Burger     10th March 2022 Drilling technology solutions provider Rosond's main focus for this year will be consolidating the company’s rapid expansion as it plans for further growth by taking on additional work in sub-Saharan Africa, says Rosond MD Ricardo Ribeiro. “This year, we are going to spend a lot of time... 

Creditors of Vale-BHP venture Samarco set to reject restructuring

By: Reuters     10th March 2022 Creditors of Brazilian miner Samarco Mineracao are expected to reject the company's latest restructuring plan when they gather for an assembly on Thursday. Samarco, a joint venture between Vale and BHP, is considering making adjustments to the plan but not major changes to the recovery for... 

Transnet records highest-ever theft of copper cable, JMPD arrests two suspects 

By: Donna Slater     8th March 2022 About 1 000 km of copper cable used to power electric locomotives has been stolen, to date, in the financial year ending on March 3, Transnet reports. This is a significant increase on the 700 km of cable stolen in the 2020/21 financial year and the 395 km of cable stolen in the 2019/20... 

Nickel surge may have Vale reworking its base metal calculations

By: Bloomberg     8th March 2022 There’s one simple reason why Vale SAwas one of the few shining lights among major Brazilian shares Monday -- nickel. While Vale gets most of its earnings from iron-ore, it’s also one of the world’s biggest producers of nickel. The metal that helps makes steel stainless and is used in... 

Nickel surge may have Vale reworking its base metal calculations

Carmakers face soaring metal costs with Russian supplies at risk

By: Reuters     8th March 2022 Saving up for a new ride? Better start putting more cash aside. Russia's invasion of Ukraine is ramping up the price of metals used in cars, from aluminium in the bodywork to palladium in catalytic converters to the high-grade nickel in electric vehicle batteries, and drivers are likely to the... 

Vale temporarily stops train circulation in Carajas mine railroad

By: Reuters     8th March 2022 Brazilian miner Vale said on Monday that the train circulation in its Carajas iron-ore mine railroad was temporarily halted due to a land movement caused by heavy rains. The incident did not cause any casualties and Vale expects to conclude maintenance on the railroad by Wednesday and resume the... 

Weekly Commodities Market Wrap

7th March 2022 ENERGIES – The price gyrations in oil, gas and coal have been spectacular and eye-watering. Coal has been the biggest winner in the European Union (EU) energy complex by far. But this is very much a spot crisis, as curves remain steeply backwardated. With most distressed buyers having already... 

A table showing the latest spot market prices for various commodities

Commitment to green economy is crucial, says ARM’s Patrice Motsepe 

By: Martin Creamer     7th March 2022 Diversified mining company African Rainbow Minerals (ARM) has reiterated its commitment to transitioning from coal to renewable energy, with its executive chairperson Patrice Motsepe describing the global commitment to the green economy as being not only important but crucial. Motsepe was... 

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Photo by Creamer Media
African Rainbow Minerals executive chairperson Patrice Motsepe.

Decarbonisation standing out as key metals/mining value driver – Wood Mackenzie  

By: Martin Creamer     4th March 2022 As pressure mounts for the world to align meaningfully with the 1.5 °C global temperature rise scenario, decarbonisation is standing out as a key driver of metals and mining value. “This has strengthened our view that the mining industry now has a clear pathway towards long-term transformative... 

Creamer Media screenshot taken during webinar.
Wood Mackenzie future facing mined commodities forum covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Higher prices, budget strains to hit Africa from war in Ukraine

By: Bloomberg     4th March 2022 Russia’s invasion of Ukraine is likely to hurt Africa’s coronavirus-ravaged and fragile economies through fiscal constraints, weaker investment flows and higher commodity costs. The most pronounced challenge will be the surge in prices, particularly of oil and wheat, as these will have... 

Mining companies may pause growth plans amid Ukraine war, inflation

By: Reuters     4th March 2022 Flush with cash after bumper earnings, mining companies straddle a delicate balancing act as they benefit from soaring commodity prices amid the Ukraine-Russia crisis but also potentially face high inflation that could hit short-term demand and slow down growth plans, analysts said. The world's... 

Mining companies may pause growth plans amid Ukraine war, inflation

Coal leading Australian resource exports - ABS

By: Esmarie Iannucci     4th March 2022 The latest trade data from the Australian Bureau of Statistics (ABS) has shown that coal continued to lead the surge in Australia’s export earnings for January. The ABS’ International Trade in Goods and Services data for January 2022 shows total resources and energy exports were worth... 

Image shows a coal loader at port

Exxaro posts R9.7bn net operating profit for 2021, despite rail issues  

By: Marleny Arnoldi     3rd March 2022 JSE-listed diversified resources group Exxaro Resources has declared a total ordinary dividend for the 2021 financial year of R32.52 apiece, up 72% compared with the prior year. Outgoing CEO Mxolisi Mgojo attributes the group’s solid performance to a committed delivery of strategic priorities... 

Exxaro outgoing CEO Mxolisi Mgojo, incoming CEO Nombasa Tsengwa and FD Riaan Koppeschaar
Exxaro Resources' executive team talks rail challenges, diversification and the incoming CEO

Fortescue settles WAE buy, starts on new train

By: Esmarie Iannucci     3rd March 2022 Iron-ore major Fortescue this week settled its £164-million purchase of UK-based technology and engineering services business Williams Advanced Engineering (WAE), marking its transition to a global green renewables and resources company. To mark the occasion, WAE and Fortescue announced the... 

ESG slowing down as energy transition highlights mining as indispensable – RMF  

By: Martin Creamer     2nd March 2022 The energy transition is highlighting mining as an indispensable industry, said Responsible Mining Foundation (RMF) CEO Hélène Piaget in opening a webinar on 'Responsible Mining Index (RMI) Report 2022', which reports a slowdown in economic, environmental, social and governance (ESG). “Yet there... 

Creamer Media screenshot.
Responsible Mining Foundation report covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Resources Watch  

2nd March 2022 This week: Platinum group metals may also play role in batteries; Kumba CEO gives firm thumbs up to continued exploration in prospective Northern Cape; and, De Beers Group posts stunning financial results 

Resources Watch
Resources Watch

China plans sharp increase in overseas iron-ore output by 2025

By: Reuters     1st March 2022 China plans to raise its equity output of iron-ore in overseas mines to 220-million tonnes by 2025, as well as increase domestic raw material supplies, State-backed China Metallurgical News said on Tuesday. China aims to "fundamentally" solve the shortage issue in steelmaking ingredients in 10... 

An image of iron-ore mining operations
Iron-ore mining

Tombador PFS proves up

By: Esmarie Iannucci     1st March 2022 A prefeasibility study (PFS) into the Tombador iron project, in Brazil, has estimated that the project could support the production of some 1.2-million tonnes a year of direct shipping ore (DSO) over a five-year period. The PFS was based on a maiden ore reserve of 5.59-million tonnes, at 65.5%... 

Vale to pay $46m for failing to meet deadline to remove tailings dams

By: Reuters     28th February 2022 Vale on Friday will sign an agreement with local authorities requiring the Brazilian miner to pay 236.7-million reais ($46-million) for failing to meet a legal deadline to decommission its tailings dams in the state of Minas Gerais, a document seen by Reuters showed. The deadline, which expired... 

Iron-ore prices rise as Russia-Ukraine conflict clouds supply outlook

By: Reuters     28th February 2022 Benchmark iron-ore futures in China and Singapore climbed by more than 3% on Monday as traders worried that a prolonged armed conflict between Russia and Ukraine could also curb global supply of the key steelmaking ingredient. The most-traded May iron ore contract on China's Dalian Commodity... 

Vale expects Russia-Ukraine conflict to affect price of nickel, pellets

By: Reuters     25th February 2022 Executives of miner Vale said on Friday that Russia's invasion of Ukraine has led to speculation in the price of nickel, and they expect the conflict to also influence the price of iron ore pellets. Shares of the miner were falling 1.5% in Sao Paulo after the company posted fourth-quarter... 

Kumba exploration, PGMs in batteries and Anglo's record financial year make headlines   

25th February 2022 Mining Weekly Editor Martin Creamer unpacks Kumba Iron Ore's continued exploration in the Northern Cape under new CEO Mpumi Zikalala; Platinum Group Metals playing a role in batteries; and Anglo American's record financial year, under the stewardship of Mark Cutifani.   

Martin Creamer image
Kumba exploration, PGMs in batteries and Anglo's record financial year make headlines

Ferrexpo declares force majeure as exports halted at Ukraine port

By: Reuters     25th February 2022 Ferrexpo said on Friday it sent force majeure notices to some customers as the iron-ore miner suspended exports at Pivdennyi port in southwest Ukraine, a day after Russian forces invaded the country. The London-listed company, which makes iron ore pellets used by the steel industry, said its... 

Vale-BHP ore venture overhauls $10bn restructuring proposal

By: Bloomberg     25th February 2022 Samarco Mineracao, an iron-ore producer jointly owned by Vale and BHP Group, presented a new plan to restructure its 50-billion reais ($10-billion) in defaulted debt in an effort to gain support from creditors. Samarco, which filed for bankruptcy protection in April 2021, will continue to offer... 

Vale maintains 'positive' outlook for iron-ore, nickel prices

By: Reuters     25th February 2022 Brazilian miner Vale on Thursday said it maintained "positive" expectations for the price of iron ore and nickel in the long term, two of its key products, after reporting quarterly earnings that beat analyst expectations. "Our outlook for iron ore remains positive, given the recovery of the... 

Vale maintains 'positive' outlook for iron-ore, nickel prices

London-listed miners with Russia exposure slump

By: Mariaan Webb     24th February 2022 The share prices of London-listed miners with exposure to Russia and Ukraine slumped on Thursday, as tension between the countries escalated with Russian President Vladimir Putin’s forces launching a major military assault on Ukraine. Precious metals miner Polymetal’s stock fell 45%, as the... 

Polymetal's Albazina plant
Polymetal's Albazina plant

South Africa targets cable thieves holding economy to ransom

By: Bloomberg     24th February 2022 South Africa’s government intends making it mandatory for all metal traders to get licenses and prevent them from dealing in cash, a measure aimed at combating a massive illegal trade in cables and wiring stripped from rail, power and telecommunication lines. Traders will also be required to... 

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