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Iron Ore News

Mandatory code of Covid mining practice gazetted 

By: Martin Creamer     19th May 2020 South Africa's guidelines for a mandatory Code of Practice (COP) to mitigate and manage the Covid-19 pandemic in the mining industry have been gazetted. Failure by employers to prepare and implement a mine's COP in line with the guidelines would constitute a criminal offence and a breach of the... 

Equatorial Guinea mines ministry signs first five mining contracts

By: Donna Slater     18th May 2020 Equatorial Guinea’s Ministry of Mines and Hydrocarbons (MMH) has signed the first mining contracts in the country’s history, following the conclusion of the country’s inaugural mining bidding round last year. The ministry signed five mining contracts with three different companies, including one... 

Sweden reports its biggest ever quake caused by mining in Arctic

By: Reuters     18th May 2020 Sweden reported its biggest ever earthquake caused by mining on Monday at an iron ore mine north of the Arctic Circle run by state firm LKAB. The quake measured magnitude 4.1, the Department of Earth Sciences at Uppsala University said. Noone was injured, Swedish media reported. The more than... 

Sweden reports its biggest ever quake caused by mining in Arctic
Photo by Fredric Alm / Alm & ME
Aerial view of Kiruna

Sierra Leone detains five expatriate managers at iron-ore mine

By: Bloomberg     18th May 2020 Five expatriate employees of SL Mining, a subsidiary of London-based Gerald International, were arrested Wednesday on suspicion of instigating unrest, the mining company said in a statement Saturday. The five, members of senior management who are from South Africa, Great Britain, the US and... 

Ferrexpo names insider James North as acting CEO

By: Reuters     18th May 2020 Iron-ore pellets producer Ferrexpo on Monday appointed James North as its acting CEO, six months after Kostyantin Zhevago stepped down temporarily to resolve issues at his former business in Ukraine. North, currently the company's chief operating officer, will take on additional duties with... 

Anglo American to move corporate office to Rosebank

By: Martin Creamer     14th May 2020 Diversified mining company Anglo American, while committing to upholding the legacy of its historic central business district (CBD) presence in downtown Johannesburg, has decided to relocate its Johannesburg CBD colleagues to a new consolidated corporate office in Rosebank, north of the city... 

Anglo American to move corporate office to Rosebank
Photo by Anglo American
Historic Anglo American corporate offices in central Johannesburg.

World’s top mining companies committed to climate change solutions – ICMM 

By: Martin Creamer     13th May 2020 Twenty seven of the world's leading mining and metals companies and 36 associations are committed to climate change solutions through their membership of the International Council on Mining and Metals (ICMM), Mining Weekly can today report. The ICMM is an international organisation dedicated to a... 

World’s top mining companies committed to climate change solutions – ICMM
International Council on Mining and Metals CEO Tom Butler

Vale to spend $2bn to cut carbon emissions 33% by 2030

By: Reuters     13th May 2020 Brazilian miner Vale plans to spend at least $2-billion to cut both its direct and indirect carbon emissions by 33% by 2030, CEO Eduardo Bartolomeo told Reuters on Tuesday. Direct emissions refer to those from the company's own operations, while indirect come from external sources, like... 

Anglo delivering through volatile times with $14.5bn liquidity  

By: Martin Creamer     12th May 2020 How Anglo American is ‘delivering through volatile times’ was outlined on Tuesday  at Bank of America’s virtual global metals, mining and steel conference, where it reiterated its strong liquidity position of $14.5-billion, made up of $6.9-billion in cash and $7.6-billion in undrawn committed... 

Anglo delivering through volatile times with $14.5bn liquidity
Photo by Anglo American
Anglo American's FutureSmart MiningTM is an innovation-led approach to sustainable mining.

Brazil's Vale sees a 'very vigorous' economic recovery in China

By: Reuters     11th May 2020 Brazil's Vale is seeing a "very vigorous" economic rebound in China, the iron-ore miner's principal export market, CFO Luciano Siani said during an online event hosted by newspaper Valor Economico on Friday. "Industrial activities [in China] are practically at their normal levels.... Civil... 

Iron-ore prices to remain resilient – Fitch

By: Tasneem Bulbulia     8th May 2020 Research firm Fitch Solutions Country Risk and Industry Research, which is a unit of Fitch Group, has maintained its  iron-ore price forecast at $85/t for this year, as prices remain resilient compared with other metals on the back of the Covid-19 pandemic. The firm says stronger Chinese steel... 

Kogi appoints Nigerian contractor to start trial iron-ore mining

By: Marleny Arnoldi     8th May 2020 ASX-listed Kogi Iron and its Nigerian subsidiary KCM Mining have started small-scale trial mining at the Agbaja Cast Steel project, in Nigeria. The companies have appointed a local Lokoja-based civil engineering contractor to start the trial mining on a 30 m by 30 m by 5 m deep pit, owing to... 

Rio Tinto dodges climate reporting fire, but issue unlikely to go away

By: Reuters     7th May 2020 Rio Tinto shareholders in Australia voted on Thursday against forcing the miner to set targets for the emissions of its steel-making customers, but the issue is unlikely to go away as more than a third supported the motion. Investors have been pushing for corporate giants to cut back their... 

Rio Tinto dodges climate reporting fire, but issue unlikely to go away

ArcelorMittal sees signs of virus low point as lockdowns ease

By: Bloomberg     7th May 2020 ArcelorMittal withdrew its closely watched global steel guidance because of the coronavirus pandemic, but sounded a relatively upbeat tone as lockdown restrictions start to ease. While ArcelorMittal likened the suddenness of the virus impact to the global financial crisis, it looked forward to... 

Judgment reserved at Mining Charter review hearing 

By: Martin Creamer     7th May 2020 A full bench has heard the application for a judicial review of certain aspects of the Mining Charter gazetted in September 2018. Judge President Mlambo, judges Vally and  Van Der Schyff reserved judgment on the application lodged by the Minerals Council South Africa on March 27, 2019, when the... 

Judgment reserved at Mining Charter review hearing
Photo by Creamer Media
Minerals Council South Africa building in central Johannesburg.

Steel production likely to stagnate or decline this year, says Roskill 

By: Simone Liedtke     5th May 2020 Steel production in developed economies is likely to either stagnate, or decline completely, as the Covid-19 pandemic continues to influence and impact on the global economy, consultancy Roskill steel alloys principal consultant Erik Sardain said on May 5. Speaking in a webinar, he explained... 

Steel production likely to stagnate or decline this year, says Roskill
Roskill steel alloys principal consultant Erik Sardain discusses the impact of Covid-19 on the global steel industry. Video: Creamer Media's Kutlwano Matlala. Editing: Creamer Media's Nicholas Boyd.

Even proxy advisers are split over mining’s emissions debate

By: Bloomberg     5th May 2020 Key investor advisory groups are divided on whether Rio Tinto shareholders should support a demand for the world’s No. 2 miner to extend the range of its targets to reduce greenhouse gas emissions. Institutional Shareholder Services is recommending Rio investors support a resolution tabled by an... 

Even proxy advisers are split over mining’s emissions debate

Exxaro provides more Covid relief, releases ESG report plus financials 

By: Martin Creamer     4th May 2020 Diversified mining and renewable energy company Exxaro on Monday pledged a further R3.45-million aid in response to the Covid-19 pandemic, while also releasing its integrated sustainability report and making available its audited financial statements for 2019. The latest R3.45-million to assist... 

Exxaro provides more Covid relief, releases ESG report plus financials
Photo by Creamer Media's Donna Slater
Exxaro CEO Mxolisi Mgojo

Iron-ore mine to restart in NT

By: Esmarie Iannucci     4th May 2020 The Northern Territory government has granted privately held British Marine approval to restart mining at the Nathan River iron project. British Marine took over the former Western Desert Resources Roper Bar iron-ore mine 2017 after that company went into liquidation, and in February 2018 was... 

Fortescue ups output expectations

By: Esmarie Iannucci     30th April 2020 Iron-ore major Fortescue metals has reported record third quarter iron-ore shipments, with tonnage up by 10% on the previous corresponding period, reaching 42.3-million tonnes. In the year-to-date, iron-ore shipments reached a record 130.9-million tonnes. C1 costs for the quarter under review... 

Robust iron-ore price to erode as steelmakers shut furnaces

By: Reuters     30th April 2020 The price of iron-ore is set to drift lower in coming months as the coronavirus pandemic eats away at demand, moderating its outperformance against other industrial commodities this year. Iron ore has given up about 10% so far this year compared to 40% for the Refinitiv/CoreCommodity CRB index... 

Robust iron-ore price to erode as steelmakers shut furnaces

Alderon loses its Kami iron-ore project as it defaults on Sprott loan

By: Mariaan Webb     29th April 2020 TSX-listed Alderon Iron Ore has confirmed that Sprott Resource Lending would seize the Kami iron-ore project, in the Labrador Trough, after the junior miner failed to repay a $14-million loan that was due by the end of last month. Alderon said it had explored “all available alternatives”,... 

Alderon loses its Kami iron-ore project as it defaults on Sprott loan
Alderon has lost its Kami project, in Labrador.

Vale cuts capex as coronavirus hinders operations

By: Reuters     29th April 2020 Brazilian iron-ore miner Vale cut its forecast for 2020 capital expenditure on Tuesday and warned that the novel coronavirus could hinder medium-term production, underlining the impact of the outbreak on the labor-intensive mining industry. In a securities filing in which it divulged... 

Morale high as Covid-masked South African miners get back to work 

By: Martin Creamer     28th April 2020 Morale is reportedly high as Covid-masked and physically distanced South African mineworkers get back to mining underground for companies that have gone the extra mile to ensure that they have been fully remunerated and host communities generously funded during the national lockdown. In a... 

Morale high as Covid-masked South African miners get back to work
Mineworkers with personal protective equipment.

CEO of Russian mining company Metalloinvest dies at 52

By: Reuters     28th April 2020 Andrey Varichev, CEO of Russian mining company Metalloinvest, died on Monday at the age of 52 following a serious illness, the company said in a statement. Varichev had been CEO at Metalloinvest, one of the world's largest producers of iron ore, since 2009. He had developed a form of pneumonia... 

Opencast mines may return to 100% of capacity from May 1 – Patel

By: Martin Creamer     27th April 2020 Opencast mines are permitted to return in phases to 100% operation from May 1 but underground mines must continue at 50% of production capacity, Trade and Industry Minister Ebrahim Patel said on Saturday. Speaking during a media briefing covered by Mining Weekly on South Africa’s easing from the... 

Opencast mines may return to 100% of capacity from May 1 – Patel
Openast mines like this one may return to 100% production capacity.

Learning curve still too steep to define ‘best practice’ mining response

By: Martin Creamer     27th April 2020 The rapidly evolving Covid-19 crisis learning curve is still too steep to conclusively define what a ‘best practice’ response looks like from the mining industry, says the International Council on Mining and Metals (ICMM), which is facilitating a rapid exchange of information and knowledge to... 

Learning curve still too steep to define ‘best practice’ mining response
ICMM CEO Tom Butler

Miners will weather the year, despite Covid-19, says Fitch

By: Simone Liedtke     24th April 2020 While Fitch Solutions Macro Research has long held the view that major miners are better positioned to weather unexpected storms, grow further and tackle new challenges, the ratings agency has questioned whether this would be the case with the Covid-19 pandemic – which brings with it operational... 

Champion ramps up work at Bloom Lake

By: Esmarie Iannucci     24th April 2020 Dual listed Champion Iron told shareholders on Friday that the company would start ramping-up operations at its Bloom Lake mining complex, in Quebec, after the provincial government declared mining to be a ‘priority service’. The announcement meant that the ASX and TSX-listed company would be... 

Champion ramps up work at Bloom Lake

Kumba adds to liquidity with cost saving, capex deferral 

By: Martin Creamer     23rd April 2020 Iron-ore mining company Kumba Iron Ore said on Thursday that it was targeting a cost saving of R325-million and deferral of R1-billion of non-critical capital expenditure (capex) as a measure of prudence in the face of broad-based economic uncertainty across the world’s markets. Mining Weekly can... 

Kumba adds to liquidity with cost saving, capex deferral
Kumba Iron Ore CE Themba Mkhwanazi

Most Anglo mines around the world continuing to operate

By: Martin Creamer     23rd April 2020 Most of Anglo American’s mining sites around the world are continuing to operate, with appropriate health, hygiene and distancing measures. The diversified mining company said on Thursday that it was taking all necessary steps to ensure the security and integrity of its assets for the long term... 

Most Anglo mines around the world continuing to operate
Photo by Bloomberg
Anglo American CE Mark Cutifani

South African Q1 diamond production up 97% – Anglo 

By: Martin Creamer     23rd April 2020 Diversified mining company Anglo American reported on Thursday that its first-quarter diamond production in South Africa increased by 97% to 0.8-million carats as the final ore from the opencast Venetia mine in Limpopo was mined prior to transitioning to underground mining, Venetia’s underground... 

South African Q1 diamond production up 97% – Anglo
Photo by Creamer Media's Donna Slater
Opencast Venetria diamond mine.

Firm directive to ensure safe mining resumption

By: Martin Creamer     23rd April 2020 The Department of Mineral Resources and Energy (DMRE) on Thursday issued a firm directive to all mining operations to ensure safe start-up procedures as the sector prepares to ramp up to 50% of capacity. Mining Weekly can report that the directive is issued to ensure compliance with Section 5(1)... 

Firm directive to ensure safe mining resumption
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe.

Steel downturn evident in global production figures for March

By: Marleny Arnoldi     23rd April 2020 World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) decreased by 6% year-on-year to 147-million tonnes in March. The association says the global steel industry is being impacted on by factory shutdowns, disrupted supply chains, collapsing... 

Steel downturn evident in global production figures for March

Anglo, De Beers announce additional $3m donations for Covid relief 

By: Martin Creamer     20th April 2020 Anglo American and De Beers on Monday announced additional donations of $2-million to South Africa’s Solidarity Fund, which addresses the impacts of Covid-19, and $1-million to the Oppenheimer family’s South African Future Trust, established to support small- and medium-sized businesses through... 

Anglo, De Beers announce additional $3m donations for Covid relief
Photo by Reuters
Anglo American CE Mark Cutifani

Kumba pledges third of top pay, provides services to communities

By: Martin Creamer     20th April 2020 Iron-ore mining company Kumba has provided a wide range of essential services in its host communities, while also responding directly with additional support to help alleviate the health and economic effects of Covic-19, the company said on Monday. Beyond the company’s breadth of support... 

Kumba pledges third of top pay, provides services to communities
Photo by Creamer Media
Kumba CE Themba Mkhwanazi.

Vale slashes 2020 output forecasts, citing virus

By: Reuters     18th April 2020 Brazilian miner Vale on Friday cut its forecast for production of iron ore fines and pellets, copper and nickel in 2020, saying in a securities filing that the new coronavirus outbreak was delaying some facilities from reopening. Vale reduced its forecast for annual production of iron-ore fines... 

Vale slashes 2020 output forecasts, citing virus

Impala CE granted bail after appearance on Covid-19 charge 

By: Martin Creamer     17th April 2020 The arrest of the chief executive of Implats' Implala Platinum Rustenburg mining operations was on Friday welcomed by the Mineral Resources and Energy Parliamentary chairperson Sahlulele Luzipo, who on Thursday called on law enforcement agencies to act decisively against mining executives who... 

Impala CE granted bail after appearance on Covid-19 charge
Photo by Creamer Media
Impala Platinum Rustenburg CE Mark Munroe
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