R/€ = 18.4581 Change: -0.0411
R/$ = 17.5288 Change: -0.0213
Au 1797.91 $/oz Change: 0.00
Pt 1020.00 $/oz Change: 0.00

Iron Ore News

Radical renewables, hydrogen ramp-up needed, coal energy transition day hears 

By: Martin Creamer     27th July 2022 A radical ramp-up of renewable energy and green hydrogen capacity will be needed by 2040 to take South Africa towards a net-zero climate change commitment, the Coal & Energy Transition Day heard on Wednesday. On the coal-fired power front, South Africa would from the 2040s/2045s need to have... 

World-first hydrogen haul truck operational from August – Anglo Platinum  

By: Martin Creamer     27th July 2022 The pilot world-first hydrogen haul truck launched early in the year, has had some final changes made to it before it heads into the pit and goes into operational mode from August. Meanwhile, the second prototype is already underway, where learnings from the first truck are being taken into the... 

Anglo American's nuGen truck.
Anglo Platinum CEO Natascha Viljoen interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

CN Railway boosts freight prices and beats analyst forecasts

By: Bloomberg     27th July 2022 Canadian National Railway reported earnings that easily beat analysts’ forecasts as strong volumes allowed the railroad to increase prices and fuel surcharges to offset rising costs. Revenue in the second quarter was C$4.34-billion, topping the expected C$4.08-billion and 21% higher than last... 

An image of a CN Rail locomotive
A CN Rail locomotive

Kogi updates Agbaja economics

By: Esmarie Iannucci     27th July 2022 An updated scoping study into the Agbaja iron-ore project, in Nigeria, has significantly increased the project’s economics, ASX-listed Kogi Iron said on Wednesday. Compared with the 2021 scoping study, the updated scoping study has increased Agbaja’s expected capi9tal cost from $507-million to... 

Lower commodity prices hit Rio's bottom line

By: Esmarie Iannucci     27th July 2022 Mining major Rio Tinto has seen a 28% drop in profits after tax for the interim period of 2022, and a 26% fall in underlying earnings before interest, tax, depreciation and amortisation (Ebitda), when compared with the same period in the 2021 financial year. The miner on Wednesday reported a... 

Image shows Rio Tinto branded lanyards

Genmin receives Anglo American royalty

By: Esmarie Iannucci     27th July 2022 Junior iron-ore explorer Genmin has received it’s $10-million cash royalty payment from mining major Anglo American after earlier striking a royalty agreement over the Baniaka iron-ore project, in Gabon. Under the agreement, Anglo American paid $10-million to Genmin subsidiary Gabon Iron Ore... 

Steel market embracing need for decarbonisation, says Kumba Iron Ore  

By: Martin Creamer     26th July 2022 At a time when steelmakers the world over are taking strong steps to decarbonise steelmaking, Kumba Iron Ore’s high-quality, high-lump iron-ore is highly sought after, which positions the Johannesburg Stock Exchange-listed mining and marketing company well in the global fight against climate... 

Kumba Iron Ore CEO Mpumi Zikalala.
Kumba Iron Ore results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Rio Tinto, Fortescue record profits near end on price view, dim demand

By: Reuters     26th July 2022 Australian iron-ore miners Rio Tinto and Fortescue Metals Group are unlikely to see a repeat of record profits booked in recent years as they face soaring costs, falling prices and a tight labour market. Rio Tinto, the world's biggest iron-ore producer, may see its first-half earnings drop by... 

Kumba Iron Ore excited by President’s energy plan, working earnestly on carbon reduction 

By: Martin Creamer     26th July 2022 Kumba Iron Ore CEO Mpumi Zikalala on Tuesday expressed excitement at the energy announcement of President Cyril Ramaphosa, who unveiled several far-reaching interventions, including a doubling in the allocation for the next renewables procurement round, an uncapping of the 100 MW... 

Kumba marketing and seaborne logistics executive head Timo Smit.
Kumba marketing and seaborne logistics executive head Timo Smit.

Iron-ore soars on hopes for China's rebound in Q3

By: Reuters     25th July 2022 Iron-ore futures soared on Monday, extending a rally spurred by hopes of an economic rebound for top steel producer and consumer China in the third quarter, and support for the country's troubled property sector. The most-traded iron ore, for September delivery, on China's Dalian Commodity... 

Report confirms viability of exploration on Kavango’s Great Red Spot IOCG target

By: Marleny Arnoldi     22nd July 2022 London-listed Kavango Resources has released an independent conceptual economic viability report for the iron oxide/copper/gold (IOCG) target at the Great Red Spot, within the northern section of the Kalahari Suture Zone, in Botswana. The target exhibits similar geophysical signatures to the... 

Energy storage, Anglo American, Kumba make headlines   

22nd July 2022 Mining Weekly Editor Martin Creamer discusses South Africa’s potential in creating a new industry through energy storage; Anglo American's sustainability targets; and Kumba Iron Ore's 6th fatality-free year and increased export sales.   

Photo of Martin Creamer
Energy storage, Anglo American, Kumba make headlines

Anglo progresses sustainability as Chile drought hits copper output 

By: Martin Creamer     21st July 2022 Diversified mining and marketing company Anglo American is progressing towards its stretching sustainability targets on all fronts while partnering to accelerate the deployment of hydrogen-powered haul truck technology across the mining industry and other transport applications. This was... 

Anglo American CEO Duncan Wanblad
Photo by Anglo American
Anglo American CEO Duncan Wanblad

Sundance Resources submits claim in iron-ore dispute with Congo-Brazzaville

By: Reuters     21st July 2022 Sundance Resources has filed a claim statement against Congo-Brazzaville as part of an iron-ore dispute the company referred to international arbitration in March 2021, the Australian mining company said on Thursday. Sundance is seeking $8.8-billion in damages over the Mbalam-Nabeba project,... 

Vale’s plan to turn around $40bn unit suffers fresh blow

By: Bloomberg     21st July 2022 Vale’s plan to turn around its copper and nickel-mining unit is taking longer than expected, risking a delay to a possible sale or spinoff of a group the miner says could be worth $40-billion. The world’s second-largest iron producer slashed its annual goal for copper output by 19% as it... 

Workers walk between cooling ingots of Bessemer matte at the Vale Copper Cliff Smelter Complex in Sudbury, Canada.
Workers walk between cooling ingots of Bessemer matte at the Vale Copper Cliff Smelter Complex in Sudbury, Canada.

Vale cuts 2022 iron-ore output forecast amid lower prices

By: Bloomberg     20th July 2022 Brazilian miner Vale on Tuesday cut its 2022 iron-ore production forecast due to the sale of its Center-West system assets, supply chain restrictions in its Northern system and the impact of lower market prices. Vale, one of the world's largest miners, now expects iron ore output for the year to... 

Vale cuts 2022 iron-ore output forecast amid lower prices

BHP and Tata join forces on low carbon steelmaking

By: Esmarie Iannucci     20th July 2022 Diversified miner BHP has signed a memorandum of understanding (MoU) with Indian steel maker Tata Steel to jointly study and explore lower carbon iron and steelmaking technology. Under the partnership, BHP and Tata intend to collaborate on ways to reduce the emission intensity of the blast... 

Two giant miners warn of tougher times as world demand wavers

By: Bloomberg     19th July 2022 Mining giant BHP has joined rival Rio Tinto Group in signaling more turbulence to come for commodities producers as costs balloon and demand for everything from iron ore to copper hits headwinds. The world’s biggest miner warned Tuesday of an “overall slowing of global growth” amid war in... 

An image of a mining truck transporting coal

China plans iron-ore giant to assert market control

By: Bloomberg     19th July 2022 China is planning a State-backed iron-ore company to oversee everything from massive mine investments in West Africa to buying the steelmaking material from global suppliers, according to people familiar with the matter. Top leaders in Beijing have a vision for the new entity to assume broad... 

BHP ups iron-ore expectations, laments coal royalties

By: Esmarie Iannucci     19th July 2022 Diversified miner BHP has reported increased production across its portfolio of commodities during the June quarter, but has also taken a swipe at the Queensland government over the introduction of new coal royalties, saying it would impact future investment decisions. “BHP produced a strong... 

Image shows a BHP operation in the Pilbara

Chinese consortium puts workers on forced leave after Guinea halts Simandou

By: Reuters     18th July 2022 Chinese-led Winning Consortium Simandou (WCS) has put workers on forced leave with the prospect of layoffs if a dispute with Guinea's government over infrastructure for a massive iron project is not resolved, three sources told Reuters. WCS did not immediately reply to a request for comment. 

Basing analysis solely on data can result in treasure being mistaken for trash  

By: Martin Creamer     15th July 2022 Applying subject matter expertise to process data streams for accuracy is a necessary part of mining’s new digital age, according to SRK Consulting Global chief technology officer Mike Olsen. Olsen, the leader of SRK’s data engineering team, spoke to Mining Weekly in a Zoom interview from Canada.... 

How to avert the risk of valuable information being disregarded.
SRK Consulting Global chief technology officer Mike Olsen interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Rio posts solid quarter but warns of inflation

By: Esmarie Iannucci     15th July 2022 Diversified major Rio Tinto has reported a solid second quarter of production, with iron-ore, bauxite and copper up from the previous corresponding period. Rio on Friday reported that iron-ore production from the Pilbara had increased by 4% in the June quarter, compared with the same period in... 

Image shows a Rio Tinto branded hard hat

Mine water, waste skills deficit amid green mining transition

By: Tracy Hancock     15th July 2022 The global green mining transition, which is driving a significant increase in demand for effective water and waste management in the African mining market, has highlighted a skills shortage, says WSP in Africa Earth and Environment MD Ralph Heath. “We can’t hire enough people and we are not... 

WSP has continued to work for mining companies across Africa while adapting to the challenge of keeping water and waste facilities operational remotely amid the Covid-19 pandemic
THE SHOW MUST GO ON WSP has continued to work for mining companies across Africa while adapting to the challenge of keeping water and waste facilities operational remotely amid the Covid-19 pandemic

New mining Bill major threat to jobs and investment, must be strenuously opposed – ENSafrica  

By: Martin Creamer     14th July 2022 A new draconian mining industry draft Bill, which threatens jobs and investment – and can even impose a penalty of 10% of turnover on a mine company, along with corporate manslaughter charges – must be “very, very strenuously opposed", top South African mining industry lawyer Willem Le Roux urged... 

Creamer Media screenshot
Photo by Creamer Media
Presenting ENSafrica webinar are from top anti-clockwise Willem Le Roux, Pieter Colyn and Celeste Coles.

Anglo, Nippon partner to further decarbonise steelmaking  

By: Marleny Arnoldi     14th July 2022 Diversified miner Anglo American has signed a memorandum of understanding (MoU) with Japan-headquartered Nippon Steel to develop solutions for lower-carbon steelmaking. As an iron-ore supplier to the steelmaking industry, Anglo deems it important to help shape a greener future for the backbone... 

Steel rolls

Arrow to acquire access to iron project in Guinea

By: Tasneem Bulbulia     13th July 2022 ASX-listed Arrow Minerals has executed a nonbinding term sheet to acquire up to a 60.5% controlling interest in Amalgamated Minerals, a private Singaporean-registered company, which holds a 100% interest in the Simandou North iron project, in Guinea. Simandou North is an early-stage opportunity... 

Ironveld seeks to bring Rustenburg smelter back to life 

By: Donna Slater     13th July 2022 Aim-listed iron, vanadium and titanium developer Ironveld plans to raise up to £5-million to acquire the remaining stake in the mothballed Ferrochrome Furnaces (FCF) business it does not already own, as well as to refurbish the FCF smelting complex, in Rustenburg, in South Africa’s North West... 

BHP facing another court battle in the UK

By: Esmarie Iannucci     11th July 2022 A UK Court of Appeal has granted a group of claimants leave to appeal a 2020 High Court decision dismissing legal actions against mining major BHP regarding the 2015 Samarco dam failure, in Brazil. The High Court in November 2020 dismissed the group action, which was seeking compensation for... 

Qld's battery boom gets going

By: Esmarie Iannucci     7th July 2022 Construction has started on Australia’s Australia’s first, large-scale iron flow battery manufacturing facility, in Queensland. Deputy Premier and State Development Minister Steven Miles said the $70 million, state-of-the-art big battery manufacturing centre is being developed by Energy Storage... 

Genmin strikes deal with Anglo American in Gabon

By: Esmarie Iannucci     7th July 2022 ASX-listed Genmin has struck a royalty agreement with diversified major Anglo American, in relation to its Baniaka iron-ore project, in Gabon. Under the terms of the agreement, Anglo American will pay $10-million to Genmin subsidiary Gabon Iron Ore (GIOL) in consideration for the grant of a... 

Scully Royalty puts $4m into Labrador Iron Mines

By: Mariaan Webb     6th July 2022 NYSE-listed merchant bank Scully Royalty has made a $4-million strategic investment in OTC-listed Labrador Iron Mines (LIM) and will collaborate with the company to advance the Houston project with the aim of delivering a preliminary feasibility study (PFS) next year. “Scully’s strategic... 

Iron-ore hits 2022 low

By: Reuters     6th July 2022 Iron-ore slumped on Wednesday to its lowest level this year in Singapore as China faces fresh Covid-19 flare-ups in several areas including Shanghai, stoking concerns over further lockdowns in the world's biggest steel producer. Growing prospects of a global recession also weighed on most... 

Iron-ore hits 2022 low

Mayur signs magnetite offtake for Orokolo Bay

By: Esmarie Iannucci     6th July 2022 ASX-listed Mayur Resources has inked a binding offtake agreement for magnetite product from its Orokolo Bay iron and industrial sands project, in Papua New Guinea. The offtake agreement covers some 300 000 t/y of magnetite product over a three-year period, with an option to extend another year,... 

Industry taxes reach record heights - report

By: Esmarie Iannucci     5th July 2022 Company tax and royalty payments from the Australian resources sectors reached a record A$43.2-billion in the 2020-21 financial year, up 16% on the previous financial year. A report released by advisory firm Ernst & Young, commissioned by the Minerals Council of Australia, revealed that company... 

Guinea halts Simandou iron-ore project work again

By: Reuters     4th July 2022 Guinea's mines minister has ordered all work related to the Simandou iron ore mine project halted after the two companies involved missed an extended deadline to agree on a joint venture, a letter seen by Reuters showed on Monday. Rio Tinto and Chinese-backed consortium Winning Consortium... 

Guinea halts Simandou iron-ore project work again

New Anglo strategy director excited by mining’s green energy transition 

By: Martin Creamer     4th July 2022 The newly appointed group director of strategy and business development of diversified mining company Anglo American on Monday singled out mining’s green energy transition in commenting on the excitement of her new appointment. Helena Nonka, who is currently executive VP of corporate development... 

Picture supplied.
New Anglo American group director of strategy and business development Helena Nonka.

Vale secures natural gas supply for 100% of pelletizing ops

By: Reuters     4th July 2022 Brazilian miner Vale said on Friday it has signed a deal allowing it to secure natural gas supply for 100% of its pelletizing operations from 2024 as it looks to reduce carbon emissions. According to a statement, the newly-announced deal will be focused on its Sao Luis pelletizing plant and... 

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