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Iron Ore News

Palmer to sue if new legislation is passed in WA

By: Esmarie Iannucci     12th August 2020 Queensland-based mining personality Clive Palmer has threatened legal action against the Western Australian government should its Parliament pass extraordinary legislation that could prevent the miner from claiming damages related to the Balmoral South iron-ore project. Western Australia’s... 

Ridley gets an FID

By: Esmarie Iannucci     12th August 2020 A final investment decision has been taken on the Riley iron-ore mine, in Tasmania, with project owner Venture Minerals preparing to start dry screening operations. “The board has given the go-ahead to proceed with the dry screening operations reaching another important milestone as the Riley... 

Saldanha Iron Ore Terminal loads over 15Mt of ore despite restrictions

By: Simone Liedtke     11th August 2020 Despite operating under Covid-19 restrictions, Transnet Port Terminals’ (TPT’s) Saldanha Iron Ore Terminal (IOT) loaded 15.6-million tonnes in the first four months of the 2020/21 financial year, meeting 76% of their contractual obligations. Suring the same period last year, and using a full... 

Investors call for greater Rio accountability over destroyed ancient caves

By: Reuters     11th August 2020 British and Australian investment funds said on Monday that Rio Tinto's testimony last week over its destruction of ancient caves in Australia raised questions about the accountability of its senior leadership. Rio CEO Jean-Sébastien Jacques was grilled by an Australian Senate panel on Friday... 

Investors call for greater Rio accountability over destroyed ancient caves

China's steel body expects iron-ore port congestion to ease by end of August

By: Reuters     11th August 2020 The China Iron and Steel Association (CISA) said on Tuesday that iron-ore discharging difficulties and port congestion issues are likely to ease in mid- or late-August as the weather improves and the coronavirus is under control. The number of iron ore vessels stuck at ports has increased... 

Mine export values back but volumes need boosting – Minerals Council 

By: Martin Creamer     10th August 2020 South Africa’s mine export values have bounced back encouragingly but volumes still need boosting. June’s export value was 13% up on May. 

Mine export values back but volumes need boosting – Minerals Council
Production and export volumes compared with export values.

Rio Tinto's prize for blowing up ancient history: $135-million 

By: Bloomberg     7th August 2020 A decision by Rio Tinto Group to destroy Aboriginal Australian heritage sites dating back more than 46 000 years delivered about $135-million in extra value to its iron-ore division, according to the miner’s top executive. Rio rejected three other options that would’ve avoided damaging two... 

Rio Tinto's prize for blowing up ancient history: $135-million
Rio Tinto's office in Perth, Western Australia.

Fortescue reviews plans that threaten 60 000 year-old Australian site

By: Reuters     7th August 2020 Fortescue Metals Group said on Friday it will review plans at an iron ore mine in Western Australia after an Indigenous group said a planned expansion threatened sacred sites, including a 60,000 year old rock shelter. The mining company asked the government to delay a decision on a heritage... 

Australia views resources resilience as core to post-pandemic recovery

By: Esmarie Iannucci     7th August 2020 The onset of the Covid-19 pandemic early in 2020 completely changed the global social and economic landscape, causing travel restrictions and physical distancing precautions in an effort to halt the spread of the virus. Commodity prices, specifically that of oil and oil price-linked liquefied... 

Australia views resources resilience as core to post-pandemic recovery

Coal will continue to be assessed but should remain in Glencore right now – Glasenberg 

By: Martin Creamer     6th August 2020 Coal will continue to be assessed but should remain in Glencore right now, Glencore CEO Ivan Glasenberg said on Thursday. For the six months to June 30, the London- and Johanneburg-listed diversified mining and marketing company report that its energy business was down 65% at $0.7-billion on... 

Coal will continue to be assessed but should remain in Glencore right now – Glasenberg
Ivan Glasenberg

Rio Tinto apologises for failures in Australian cave blast inquiry

By: Reuters     4th August 2020 Rio Tinto apologised to an Australian parliamentary inquiry in its submission on Tuesday for the destruction of ancient sacred caves, admitted to numerous errors, and said it supported reforms to state heritage laws. The world's biggest iron-ore miner in late May legally destroyed two... 

Rio Tinto apologises for failures in Australian cave blast inquiry
Rio Tinto CEO Jean-Sebastien Jacques

Exchange control lifting sends strong growth message – Anglo 

By: Martin Creamer     4th August 2020 The lifting of exchange control by South Africa sends a really strong message about the country’s desire to promote investment and growth, says Anglo American finance director Stephen Pearce. He gave South Africa a pat on the back during Anglo’s virtual presentation of half-year results last... 

Exchange control lifting sends strong growth message – Anglo
Anglo American finance director Stephen Pearce

China steelmaker HBIS lines up investment in Peru iron-ore mine

By: Reuters     3rd August 2020 HBIS Resources Co, a unit of China's second-biggest steelmaker HBIS Group, said on Monday it had signed an initial deal to develop the Pampa de Pongo iron-ore mine in Peru alongside current licence-holder Zhongrong Xinda. The two Chinese companies plan to set up a joint venture to work on the... 

Crop nutrients have double potential of coal being exited – Anglo 

By: Martin Creamer     3rd August 2020 Covid-19 notwithstanding, diversified mining company Anglo American will this year be spending the $300-million that it forecast on the Woodsmith polyhalite project in the UK, which gives it entry into the crop nutrients business at a time when fertilising is being hailed a godsend to ease global... 

Crop nutrients have double potential of coal being exited – Anglo
Photo by Anglo American
Anglo American's Woodsmith polyhalite mining shaft under construction.

Venture raises cash for Riley start

By: Esmarie Iannucci     3rd August 2020 Junior Venture Minerals will raise A$4-million through a share placement to fund the start of mining activities at its Riley iron-ore project, in Tasmania. Venture on Monday said it had received firm commitments from sophisticated, professional and institutional investors for the placement of... 

Kumba Iron Ore, Menar make headlines 

31st July 2020 Mining Weekly Editor Martin Creamer unpacks the flight to iron-ore quality being a demand trend that favours South Africa’s high-quality iron-ore, the all-female exploration crew that has begun drilling in the Northern Cape and Menar’s R250-million, cash-funded, solar-boosted East Manganese... 

Kumba Iron Ore, Menar make headlines
Kumba Iron Ore, Menar make headlines

Vale eyes mine expansions, Samarco restart amid robust Chinese demand

By: Reuters     30th July 2020 Brazilian iron-ore miner Vale is sending a proposal this month to the board for further expansion at its Northern System mining complex, and the company expects to restart operations at its Samarco complex in December, executives said on Thursday. Speaking to analysts following the company's... 

Vale eyes mine expansions, Samarco restart amid robust Chinese demand

World’s seeing widespread investment plans in hydrogen – Anglo 

By: Martin Creamer     30th July 2020 The broader portfolio of diversified mining and marketing company Anglo American is positioned to contribute an environmental-led new materials demand in a world that is seeing widespread investment plans in hydrogen, Anglo CEO Mark Cutifani said on Thursday. “We’ve seen the early evolution of... 

World’s seeing widespread investment plans in hydrogen – Anglo
Photo by Anglo American
Anglo says hydrogen is a clean and abundant fuel with applications using PGMs

AMSA seeks import protection on hot-rolled coil and heavy beams 

By: Terence Creamer     30th July 2020 Steel producer ArcelorMittal South Africa (AMSA) has submitted two separate applications to the International Trade and Administration Commission of South Africa (Itac) requesting import protection on hot-rolled coil (HRC) and heavy structural beams respectively. The HRC application seeks to... 

AMSA seeks import protection on hot-rolled coil and heavy beams

ArcelorMittal sees steel market improving

By: Bloomberg     30th July 2020 ArcelorMittal offered a cautiously upbeat outlook for the global steel industry, saying its core markets are showing signs of recovery from exceptionally low levels amid the coronavirus pandemic. “The first six months of the year, and particularly the second quarter, have been one of the most... 

Agbaja trial mining progresses, albeit slowly

By: Marleny Arnoldi     30th July 2020 ASX-listed Kogi Iron says it has continued with reduced activities in Nigeria throughout June and July, owing to limited interstate and international travel. Trial iron-ore mining at the company’s Agbaja project is also only progressing slowly owing to heavy rains and travel restrictions.  

AMSA implements large-scale, but ‘flexible’, labour reorganisation as Covid-19 bites  

By: Terence Creamer     30th July 2020 Steel producer ArcelorMittal South Africa (AMSA), which reported a loss of R2.6-billion for the interim period to June 30, warned on Thursday that it expected steel demand to remain subdued for the foreseeable future and indicated that it was pushing ahead with a large-scale labour... 

AMSA implements large-scale, but ‘flexible’, labour reorganisation as Covid-19 bites
ArcelorMittal South Africa CEO Kobus Verster presenting a slide on market conditions in South Africa during the group's interim results presentation. Video by: Nicholas Boyd & Kutlwano Matala.

Operational agility underpins Anglo’s $3.4bn half-year earnings 

By: Martin Creamer     30th July 2020 The first half of 2020 has tested society to its limits, Anglo American CEO Mark Cutifani said on Monday, when the company reported 39%-lower $3.4-billion half-year earnings before interest, taxes, depreciation and amortisation (Ebitda). The interim dividend of $0.28 a share declared by Anglo is... 

Operational agility underpins Anglo’s $3.4bn half-year earnings
Photo by Anglo American
Profit attributable to equity shareholders of $0.5bn compared with last half-year’s $1.9-bn.

Vale resumes dividends 18 months after deadly dam disaster, Q2 profit soars

By: Reuters     30th July 2020 Brazilian mining giant Vale said on Wednesday it will resume dividend payments to shareholders, suspended since a deadly dam burst in January 2019, as it reported second-quarter profit rocketed amid a surge in iron-ore prices. Disclosing the resumption in a securities filing, Vale said the... 

Fortescue beats shipment record, sets new price for Eliwana

By: Esmarie Iannucci     30th July 2020 Iron-ore major Fortescue Metals has reported record shipments during the fourth quarter ended June, with 47.3-million tonnes shipped in the three months under review, and 178.2-million tonnes in the full year to June. “The entire Fortescue team has delivered strong results for the June quarter,... 

Fortescue beats shipment record, sets new price for Eliwana

Flight to quality favours South Africa – Kumba Iron Ore 

By: Martin Creamer     29th July 2020 The flight to iron-ore quality, driven by environmental concerns and the need for cleaner production and less air pollution, is a demand trend that favours South Africa’s high quality iron-ore. That is the view of Kumba Iron Ore executive head marketing and seaborne logistics Timo Smit, who was... 

Flight to quality favours South Africa – Kumba Iron Ore
Illustrated is Kumba Iron Ore's pit-to-port performance in the six months to June 30.

All-female exploration crew drilling for iron-ore in Northern Cape 

By: Martin Creamer     29th July 2020 An all-female exploration crew has commenced drilling activities on two new prospecting sites in the Northern Cape, where Kumba Iron Ore, with its drilling partner Rosond, is rolling out a fleet of next-generation exploration rigs that incorporate completely automated rod handling and are... 

All-female exploration crew drilling for iron-ore in Northern Cape
Photo by Kumba Iron Ore
All-female exploration crew drilling for iron-ore in Northern Cape

China’s iron-ore appetite pushes Indian imports to 8-year high

By: Bloomberg     29th July 2020 China’s purchases of iron-ore from India rocketed to an eight-year high in the first half of 2020, fueled by supply shocks at major producers and record steel output at the world’s largest steelmaker. Shipments of the raw material from India more than doubled to 20-million tons in the six months... 

Rio Tinto accelerates Africa plans as iron-ore shores up profits

By: Bloomberg     29th July 2020 Rio Tinto Group, the world’s second-biggest miner, is accelerating its work on potential development of the giant Simandou iron-ore project in Guinea as half-year earnings showed the steel-making ingredient dominated the producer’s profits. New studies with partners are aimed at cutting the... 

Rio Tinto accelerates Africa plans as iron-ore shores up profits

Brazilian major Vale piloting electric locomotive

By: Mariaan Webb     29th July 2020 Diversified mining major Vale, in partnership with Progress Rail – part of US group Caterpillar – is developing a new 100% electric, battery-powered switchyard locomotive. The initiative forms part of the iron-ore miner’s strategy of reducing direct and indirect emissions (Scope 1 and 2). The... 

Canada Nickel creates subsidiary focused on zero-carbon metals

By: Donna Slater     28th July 2020 TSX-listed nickel/cobalt sulphide project company Canada Nickel Company has created a wholly-owned subsidiary, NetZero Metals, to begin the research and development of a processing facility aimed at using existing technologies to produce zero-carbon nickel, cobalt and iron products. The facility... 

Canada Nickel creates subsidiary focused on zero-carbon metals

Kumba, Anglo boards approve new R7bn iron-ore project at Kolomela 

By: Martin Creamer     28th July 2020 Iron-ore mining and marketing company Kumba Iron Ore on Tuesday announced the approval of the Kapstevel South project at its Kolomela mine, by both the company’s and Anglo American’s boards. The total capital cost of the project will be approximately R7-billion, including prestripping. 

Kumba, Anglo boards approve new R7bn iron-ore project at Kolomela
Kumba Iron Ore CEO Themba Mkhwanazi.

Kumba pays 75%-of-earnings dividend, creates R13bn in shared value 

By: Martin Creamer     28th July 2020 Iron-ore mining and marketing company Kumba Iron Ore on Tuesday declared an interim cash dividend of R19.60 per share, representing a payout ratio of 75% of headline earnings. Kumba CEO Themba Mkhwanazi said the company adapted its business quickly and comprehensively to meet the human,... 

Kumba pays 75%-of-earnings dividend, creates R13bn in shared value
Kumba Iron Ore CEO Themba Mkhwanazi.

Australian iron exports reach record milestone

By: Esmarie Iannucci     27th July 2020 Iron-ore has become the first commodity in Australia to break the A$100-billion annual export mark, Minister for Resources, Keith Pitt said on Monday. “Iron-ore exports in the 2019-20 financial year reached A$101.7-billion, which is a great achievement at a time when our economy needs all the... 

Australian iron exports reach record milestone

Minres posts record iron-ore output

By: Esmarie Iannucci     24th July 2020 ASX-listed Mineral Resources has reported a record quarter for iron-ore production, while its Mt Marion lithium project also reported a record quarter. Iron-ore production for the quarter ended June was up by 22% on the previous quarter, to 4.2-million tonnes, with shipments for the quarter up... 

Pandemic exacts toll on iron-ore sector, but prognosis for recovery is good

By: Tasneem Bulbulia     24th July 2020 The iron-ore sector has been considerably affected by the Covid-19 pandemic, with the worst of the repercussions expected this year; however, there are signs of recovery moving forward. Global iron-ore production is expected to decline by 1.2% in 2020 to 2.23-billion tonnes, according to data... 

Pandemic exacts toll on iron-ore sector, but prognosis for recovery is good

Sacred site destruction demonstrates industry's need to improve corporate citizenship

By: Mamaili Mamaila     24th July 2020 Diversified miner Rio Tinto's destruction of a 46 000-year-old sacred Aboriginal site in the Juukan Gorge in the Pilbara – which occurred in last month following a misunderstanding during the extension of the Brockman 4 iron-ore mine – demonstrates the adverse environmental and cultural impact... 

Sacred site destruction demonstrates industry's need to improve corporate citizenship
Photo by Reuters
IN THE SPOTLIGHT Devastation left in the wake of a tailings dam burst owned by Vale and BHP Billiton in Mariana, Brazil

Miner steps up Covid-19 fight

By: Mamaili Mamaila     24th July 2020 Global miner Anglo American’s iron-ore company Kumba Iron Ore has ramped up its readiness to respond to the expected increase in Covid-19 cases among its employees and host communities. 

Miner steps up  Covid-19 fight
Photo by Kumba Iron Ore
THEMBA MKHWANAZI We believe that we are ready to support our people and communities through a range of quarantine and isolation sites
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