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Iron Ore News

Rio invests heavily at Tom Price

By: Esmarie Iannucci     27th November 2019 Mining titan Rio Tinto on Wednesday approved a $749-million investment in its existing Greater Tom Price operations, in the Pilbara, to help sustain the production capacity of its iron-ore business. The investment in the Western Turner Syncline Phase 2 (WTS2) mine will facilitate mining of... 

NMDC’s iron-ore mining facility suffers extremist attack

By: Ajoy K Das     26th November 2019 Indian miner NMDC’s iron-ore assets at Dantewada in the central state of Chhattisgarh came under attack from ultra-left-wing extremists on Sunday. According to reports available from the district, the ultra-left extremists, popularly known as naxalites, stormed into the iron-ore mining facility... 

Newcastle mill now firmly in ArcelorMittal South Africa’s restructuring crosshairs 

By: Terence Creamer     25th November 2019 The focus of steel producer ArcelorMittal South Africa’s (AMSA’s) strategic asset footprint review has shifted to its Newcastle mill, in KwaZulu-Natal, following the completion of the first phase of the review, which resulted in a decision to close the Saldanha Steel operation in the Western... 

Newcastle mill now firmly in ArcelorMittal South Africa’s restructuring crosshairs
Vanderbijlpark, pictured, may become AMSA's only liquid-steel producer should company decide to halt Newcastle production

Anglo American joins ResponsibleSteel initiative 

By: Creamer Media Reporter      25th November 2019 Diversified miner Anglo American has become a member of ResponsibleSteel, a nonprofit organisation and the steel industry's first global, multi-stakeholder standard and certification programme. ResponsibleSteel covers the entire steel supply chain, from raw material supply through steel... 

Vale returns looking for low-cost debt after Brumadinho tragedy

By: Reuters     22nd November 2019 The insatiable appetite to lend to Latin America’s blue-chip corporations may allow Brazilian miner Vale SA to return to the loan market and borrow $3-billion to refinance debt at ultra-low rates, only ten months after a dam disaster that left the country reeling. In January, following the... 

‘Quiet boom’ under way but results mixed for midtier miners – PwC report

By: Creamer Media Reporter      21st November 2019 Australia’s mid-tier mining sector has reached its highest total market capitalisation since the boom times of 2011, with the ‘quiet boom’ driven by favourable commodity prices and some good investment decisions over the last year, a new PwC report has shown. The ‘Aussie Mine’ report, which... 

Global iron-ore market faces deficit, mining billionaire Forrest warns

By: Bloomberg     21st November 2019 The global iron-ore market is likely to have a shortfall following the dam spill and mine curtailments at top supplier Vale, according to Fortescue Metals Group founder Andrew Forrest, who cautioned that other producers face constraints in boosting output. “We do have to face the reality of a... 

Global iron-ore market faces deficit, mining billionaire Forrest warns
Andrew Forrest

'I love you' Goldman Sachs, Cliffs CEO says year after outburst

By: Bloomberg     21st November 2019 A year after Lourenco Goncalves raged against analysts from Goldman Sachs Group, the Cleveland-Cliffs Inc. chief’s acrimony has reversed 180 degrees. “I love you, you are the best commodity desk I have ever seen in my life,” he said at a conference organised by Goldman on Wednesday.  

Solar reducing electricity costs, lowering diesel use   

By: Martin Creamer     20th November 2019 Solar power is playing a major role in reducing daytime electricity bills and lowering diesel use in off-grid diesel consuming areas, says SunRanch.Solar, whose clients are benefiting from below grid power costs and major diesel savings. “We reduce people’s daytime power costs by 60% to 70%,”... 

Solar reducing electricity costs, lowering diesel use
SunRanch.Solar talks to Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd

US SEC opens preliminary probe of Vale over dam tragedy

By: Bloomberg     20th November 2019 The US Securities and Exchange Commission has opened a preliminary investigation of iron ore miner Vale over the collapse of a Brazilian mining waste dam that killed more than 250 people in January, Brazil's O Globo newspaper reported on Tuesday. The US regulator decided to proceed with the... 

Resource boosts Minres' Yilgarn plans

By: Esmarie Iannucci     20th November 2019 ASX-listed Mineral Resources (Minres) on Wednesday said that it was finalising an operating plan for its Yilgarn iron-ore business, in Western Australia, after confirming a mineral resource of 108.6-million tonnes, grading 56.8% iron. The company told shareholders that the operating plan would... 

Iron-ore futures reverse losses as steel prices extend gains

By: Reuters     19th November 2019 Chinese iron ore futures recouped early losses to extend their rally into a sixth straight session on Tuesday as steel prices stretched gains amid shrinking inventories and possible fresh output restrictions to curb air pollution. Dalian Commodity Exchange's most-traded iron ore contract , with... 

Shanghai rebar extends rally as steel margins recover

By: Reuters     18th November 2019 Rebar futures in China rose for a fifth consecutive session on Monday amid improving steel margins in the world's top producer of the construction and manufacturing material. The Shanghai Futures Exchange's most-traded contract for the construction material, for delivery in January 2020, ended... 

Public consultation launched on global tailings dam standards

By: Reuters     15th November 2019 A Swiss environmental expert launched on Friday a six-week public consultation as he spearheads efforts to create new global standards next year following the Vale dam disaster in Brazil. The safety of dams used to store mining waste, known as tailings, gained prominence after the collapse of... 

Public consultation launched on global tailings dam standards

Iron-ore lifts South African mining output in September  

By: Marleny Arnoldi     14th November 2019 Mining production increased by 0.2% year-on-year in September, following a 3% year-on-year decline in August. This was above consensus expectation of a 2.4% year-on-year decline for September, says Investec.  

Iron-ore lifts South African mining output in September
Kumba Iron Ore's Sishen mine, in the Northern Cape

Fortescue's Simandou plans collapse

14th November 2019 Iron-ore major Fortescue Metals has failed in its bid to gain mining rights on the Simandou blocks, in the Republic of Guinea The miner on Thursday said that it had been notified by the Guinean government that it was not the preferred bidder in the recent tender for mining rights on mineral... 

SMB-Winning beats Fortescue to Guinea iron-ore deposit with $14bn deal 

By: Reuters     13th November 2019 A consortium of Guinea's Societe Miniere de Boke (SMB) and Singapore's Winning said on Wednesday it won a tender to develop blocks 1 and 2 of Guinea's giant Simandou iron-ore project, edging out Australia's Fortescue in a $14-billion deal. The consortium committed to developing the mine, which... 

SMB-Winning beats Fortescue to Guinea iron-ore deposit with $14bn deal

Anglo upbeat on bulk commodities performance; Kumba cuts sales guidance 

By: Simone Liedtke     12th November 2019 Following ArcelorMittal South Africa’s (AMSA’s) decision to wind down its steel operations at Saldanha Works, in the Western Cape, Kumba Iron Ore has reduced its iron-ore sales guidance for the full year to between 41.5-million and 42.5-million tonnes. Initial guidance was set at between... 

Iron-ore output to show modest growth to 2028 – Fitch Solutions

By: Marleny Arnoldi     12th November 2019 Mine expansions in Brazil and increasing output from India, offset by declining output in China, will result in modest growth for global iron-ore production up to 2028, said research agency Fitch Solutions. Fitch Solutions on Tuesday published its global iron-ore mining outlook, stating that... 

Vale cuts top of iron-ore sales outlook range

By: Reuters     11th November 2019 Brazilian iron-ore miner Vale on Monday said it now expects sales of iron-ore and pellets to be between 307-million and 312 million tonnes in 2019, further reducing its full-year outlook as it grapples with the aftermath of a deadly dam burst. Vale has been compelled to halt production at... 

Beowulf submits concluding statement for Kallak

By: Creamer Media Reporter      11th November 2019 Nordic-focused explorer Beowulf Mining has submitted a concluding statement for the Kallak North iron-ore project to the Swedish government, outlining the reasons the company believes it should be awarded the concession. The statement does not submit any new facts in the Kallak case, but... 

GTR delays publication of draft standard on mine tailings management 

By: Creamer Media Reporter      11th November 2019 The Global Tailing Review (GTR) has delayed the publication of its draft standard for mine tailings management for public comment. After initially announcing on Monday that the draft standard had been published, it published an update later in the day to say the draft standard was not yet... 

Robust fiscal regimes needed to grow African mining sector

By: Theresa Bhowan     8th November 2019 The success of Africa’s mining sector is determined by a combination of the quantity and quality of resources, commodity prices, and the domestic policy and regulatory environment’s ability to attract and retain investment. 

Robust fiscal regimes needed to grow  African mining sector
Photo by Bloomberg
MY PRECIOUS For large-scale bauxite resources, an infrastructure deficit has crippled the development of high-quality mining assets

Australian iron-ore exports to top 870Mt in two years as majors expand capacity

By: Esmarie Iannucci     8th November 2019 A surge in iron-ore prices has seen Australia’s three largest producers re-invest in their Australian assets, assisting in maintaining the country’s number one ranking for iron-ore exports. Australia exported 835-million tonnes of iron-ore in 2018, generating A$64-billion in revenues, and... 

Australian iron-ore exports to top 870Mt in two years as majors expand capacity

Razorback moves to PFS

By: Esmarie Iannucci     7th November 2019 A scoping study into the Razorack iron project, in South Australia, has confirmed ASX-listed Magnetite Mines’ view that the project could be economical, prompting the company to seek funding to progress to a prefeasibility study. The scoping study showed that a small-scale, staged operation... 

BHP still upbeat about mining future

By: Esmarie Iannucci     7th November 2019 Mining major BHP has reaffirmed its positive long-term view of the industry, despite trade tensions. Speaking at the company’s annual general meeting, CEO Andrew Mackenzie said that while BHP’s foundations were strong, the company remained conscious of the geopolitical landscape. 

BHP still upbeat about mining future

Brazil court says could annul Vale acquisition of Ferrous Resources

By: Reuters     7th November 2019 A federal court in Brazil said it could annul Vale's acquisition of midsize iron-ore miner Ferrous Resources until certain environmental compliance documents have been provided, giving the company 30 days to do so, according to a decision seen by Reuters on Wednesday. A Vale spokeswoman said the... 

Anglo American says Eskom poses a major risk for investors 

By: Bloomberg     6th November 2019 South Africa’s beleaguered State power utility and regulatory uncertainty are the biggest risks for investors wanting to put their money in the country, according to Anglo American. The challenges presented by Eskom Holdings “probably represents our single most-important risk we deal with,” Anglo... 

Samarco to resume $4bn debt restructuring talks - sources

By: Reuters     5th November 2019 A Brazilian mining joint venture between Vale and BHP Group, paralysed after a fatal dam collapse, is expected to resume talks to restructure $4-billion in defaulted debt in coming weeks, two sources with knowledge of the matter said. The venture, Samarco Mineracao, last month won permission to... 

Gina Rinehart's wealth swells as family split lingers

By: Bloomberg     4th November 2019 Australian mining magnate Gina Rinehart’s fortune swelled $2.1-billion after her closely held company reported improved financial results on the back of higher iron-ore sales. Hancock Prospecting’s revenue rose 39% for the year to June 30. Earnings also improved at the Perth-based group with a... 

Iron Ridge proves a treat for Fenix

By: Esmarie Iannucci     4th November 2019 A feasibility study into the Iron Ridge iron project, in Western Australia, has estimated that the project would produce some 1.25-million tons a year over a six-and-a-half year mine life. ASX-listed Fenix Resources on Monday told shareholders that at an initial capital cost of only... 

Vale to resume operations at Alegria mine - filing

By: Reuters     1st November 2019 Brazilian miner Vale said on Friday it had been authorised by local regulator ANM to resume operations at its Alegria mining site, which were interrupted last March after a "stress test" failed to guarantee its stability. In a securities filing, the company added the resumption of mining... 

BHP puts $44m towards Samarco restart

By: Esmarie Iannucci     1st November 2019 Mining major BHP has approved $44-million in funding to restart one of the Samarco concentrators, in Brazil. The announcement comes just days after the Samarco joint venture (JV), with iron-ore major Vale, was granted all the necessary environmental licenses to restart operations in the state of... 

Vale triggers emergency protocol at Ouro Preto dam

By: Reuters     31st October 2019 Brazilian iron-ore miner Vale on Thursday said it had preemptively triggered an emergency protocol at its Forquilha IV dam which processes waste from its Fábrica mine near the historic town of Ouro Preto. Vale said it had taken the decision for the protocol, which does not require the evacuation... 

Revenue losses mount from Goa iron-ore mine closures – FIMI

By: Ajoy K Das     31st October 2019 The closure of 88 iron-ore mines in western Indian coastal province of Goa since March 2018 has resulted in loss in revenue of $832-million a year, according to a study of Federation of Indian Mineral Industries (FIMI). According to FIMI, the closure of the mines for the past one-and-half years... 

Bulk commodities boost Afrimat’s interim profit 

By: Marleny Arnoldi     31st October 2019 JSE-listed industrial minerals and construction materials group Afrimat achieved a 56.9% year-on-year increase in operating profit to R318-million for the six months ended August 31. CEO Andries van Heerden attributed the higher profit to an improved performance in each of its business segments,... 

Investors fear looming safety risks of mining waste dams 

By: Reuters     31st October 2019 A global inquiry into how mining companies store billions of tonnes of waste in huge dams, launched after a collapse in Brazil killed hundreds, shows about a tenth of the structures have had stability issues, investors said on Thursday. The research was led by the Church of England (CoE) and fund... 

Investors fear looming safety risks of mining waste dams
Photo by Reuters
The Brumadinho dam collapse aftermath

Iluka mulls a spin-off of iron-ore royalty

By: Esmarie Iannucci     31st October 2019 Mineral sands miner Iluka has flagged a possible demerger of its Mining Area (MAC) royalty, in the Pilbara, as mining major BHP moves to increase production from the project. Iluka in September launched a review of the corporate and capital structure of the company’s two principal assets, being... 

Iluka mulls a spin-off of iron-ore royalty
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