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

Weekly Commodities Market Wrap

7th February 2022 Coal continues to outperform the rest of the energy complex, although with the northern hemisphere winter nearing an end, the threat of an interruption to Russian energy supplies fades. Crude prices are also shifting higher as $100 Brent looks to be on the cards once more. 

BHP invests further in low-carbon steelmaking

By: Esmarie Iannucci     7th February 2022 Diversified miner BHP on Monday announced plans to extend its partnership with the Centre for Ironmaking Materials Research (CIMR) at the University of Newcastle, funding a further A$10-million to support ongoing research into decarbonising steelmaking. The expanded research program will focus... 

BHP welcomes LNG-driven carriers

By: Esmarie Iannucci     7th February 2022 Mining major BHP has welcomed the world’s first liquefied natural gas (LNG)-fuelled Newcastlemax bulk carrier, which will transport iron-ore between Western Australia and Asia from 2022. The miner previously chartered five LNG-fuelled bulk carriers from Eastern Pacific Shipping (EPS) for a... 

South African-European consortium to develop new exploration methods 

By: Darren Parker     4th February 2022 A consortium of South African and European experts will be developing new seismic, electromagnetic and magnetic methods for deep exploration targeting. The project team includes researchers from universities, geological surveys, equipment manufacturers and mining companies from both continents... 

A photo of Wits Seismic Research Centre director and Future project leader Dr Musa Manzi
Photo by Creamer Media
Wits Seismic Research Centre director and Future project leader Dr Musa Manzi

Australian resource exports rise in 2021 - ABS

By: Esmarie Iannucci     4th February 2022 New data from the Australian Bureau of Statistics (ABS) has shown that Australia’s resources and energy exports in 2021 were up almost one-third on the previous year. The ABS’ International Trade in Goods and Services data for December 2021 shows total resources and energy exports were worth... 

Image shows cargo ship being loaded with iron-ore

Updated feasibility study into Paulsens East proves positive

By: Esmarie Iannucci     4th February 2022 An updated feasibility study (FS) into the Paulsens East iron-ore project, in Western Australia, has estimated that the project would require a capital investment of only A$3.4-million for the Stage 1 production, and a further A$3-million to ramp-up to Stage 2. Project owner Strike Resources... 

Samarco to add revenue, hit output goal sooner after Vale deal

By: Reuters     3rd February 2022 Brazilian miner Samarco is expected to add $5.1-billion in net revenue by 2042 and bring forward its iron ore output goal after signing a 20-year production agreement with Vale SA, it said on Thursday. Samarco, an iron ore joint venture of Vale and BHP Group, is looking to hit its output... 

ESG, environment and staff at top of mind for miners - Deloitte

By: Esmarie Iannucci     3rd February 2022 Talent recruitment and retention, and working towards a low carbon future has been flagged as some of the top trends Australian miners will face in 2022. Advisory firm Deloitte this week released its 14th annual Tracking the Trends report, which explores the key trends facing mining companies... 

Image shows openpit mine site, with large dump trucks

Glencore enters battery recycling JV, targeting renewable-powered facility 

By: Martin Creamer     3rd February 2022 Diversified mining and marketing company Glencore has entered a battery recycling joint venture (JV) with strategic partner and battery pioneer Britishvolt, a UK battery cell technologies and research and development investor.   

Britannia Refined Metals operation in Northfleet, UK.

US mines produced $90bn in commodities last year

By: Creamer Media Reporter      2nd February 2022 US mines produced about $90.4-billion in mineral commodities in 2021 – a $9.7-billion increase over the 2020 revised total of $80.7-billion, the US Geological Survey reported on Tuesday. The commodities include industrial minerals and natural aggregates, as well as ferrous and nonferrous... 

WA backs Port Hedland expansion plans

By: Esmarie Iannucci     2nd February 2022 The Western Australian state government has endorsed plans to grow capacity at the port of Port Hedland by 41%, to 660-million tonnes a year under a revised development plan. The government said this week that increasing iron-ore export capacity to 660-million tonnes a year would allow port... 

Vale closed its eyes to corruption allegations, says Steinmetz

By: Bloomberg     1st February 2022 Billionaire Beny Steinmetz has thrown Vale's charge of fraud back in its face, claiming the Brazilian mining giant was well aware of allegations that the Guinean mining rights it agreed to buy had been secured illegally. Steinmetz and five other associates linked to his company BSGR have been... 

Beny Steinmetz
Beny Steinmetz

Champion Iron studies options to produce more 69% product

By: Mariaan Webb     1st February 2022 Canadian iron-ore producer Champion Iron is evaluating the potential of producing a high-grade direct reduction pellet feed product at its Bloom Lake mine, in Quebec, as decarbonisation efforts by steelmakers in several key markets accelerate. The company is working on a feasibility study to... 

Champion Iron studies options to produce more 69% product

South Africa needs to embrace Ubuntu principles in going green, webinar hears 

By: Martin Creamer     31st January 2022 In decarbonising and going green, South Africa needs to embrace the principles of Ubuntu and show humanity towards others. That view was expressed by Gold Fields South Africa executive VP Martin Preece during the 'Decarbonisation & Going Green in the Mining Sector' webinar hosted by Creamer Media... 

Screenshot by Creamer Media
Photo by Creamer Media
From top left, clockwise, are Abel Sakhau, Martin Preece, Jevon Martin, Nikisi Lesufi and James Mackay.

Top miners hurt by labour squeeze in Australia's hermit state

By: Bloomberg     31st January 2022 From explosives experts to truck drivers, labour shortages are becoming an increasing challenge for mine operators across Western Australia after the state abandoned plans to end Covid-related border controls. The state’s resources industry, which is a crucial source of revenue for Australia,... 

Western Australian Premier Mark McGowan
Western Australian Premier Mark McGowan

Rosond records notable safety records at the Sishen, Kolomela mines

By: Tasneem Bulbulia     28th January 2022 Drilling technology solutions provider Rosond says it has achieved major health and safety milestones at Kumba Iron Ore’s Sishen and Kolomela mines in the Northern Cape. Based in the exploration and production geology section at Sishen, Rosond is drilling boreholes for exploration and mine... 

An image of Rosond's Rosond uses hi-tech drill rigs that are used to ensure safe work
Rosond uses hi-tech drill rigs to ensure safe work

Mining majors included in Bloomberg 2022 Gender Equality Index  

By: Darren Parker     27th January 2022 Major mining companies AngloGold Ashanti, Sibanye-Stillwater, Exxaro Resources, Gold Fields, Impala Platinum, Anglo American Platinum (Amplats), Kumba Iron Ore, Harmony Gold and Newmont have all been included in software and media company Bloomberg’s 2022 Gender Equality Index (GEI). The... 

A photo of two female miners in PPE looking at a chart
A total of 418 companies from across 45 countries were included in in Bloomberg’s 2022 Gender Equality Index

Kumba lifts 2021 production by 9%, achieves fifth year of fatality-free production

By: Donna Slater     27th January 2022 JSE-listed iron-ore miner Kumba Iron Ore increased its production by 9% in 2021, with 40.9-million tonnes mined as volumes recovered following the Covid-19 impacts of 2020, and plant reliability improved. For the fourth quarter of 2021, the miner produced 9.7-million tonnes.  

An image of a bucket wheel excavator
Miners inspect a bucket wheel excavator at Kumba's Kolomela mine

Anglo increases copper guidance for 2022 as Peru mine comes online

By: Marleny Arnoldi     27th January 2022 Global miner Anglo American says its production for the fourth quarter of 2021 was flat compared with output in the fourth quarter of 2020. CEO Mark Cutifani noted on January 27 that operating levels across the group had been at about 95% of normal capacity throughout 2021 as a result of... 

Anglo CEO Mark Cutifani
Anglo CEO Mark Cutifani

Vale accuses Steinmetz of 'elaborate' fraud in $2.5bn deal

By: Bloomberg     27th January 2022 More than a decade after Vale  agreed to pay Beny Steinmetz $2.5-billion for a chunk of the world’s biggest iron-ore deposit, the pair are about to lock horns in a London court with the Brazilian mining giant accusing the Israeli billionaire of an “elaborate” fraud. Steinmetz and five other... 

An image of Beny Steinmetz
Beny Steinmetz

Green primary iron could help South Africa offset fall in coal export revenues – study 

By: Terence Creamer     26th January 2022 Producing carbon-free primary iron in South Africa using green hydrogen direct reduced iron (GHDRI) technology could create a new globally competitive green export industry that could help offset the losses associated with the eventual decline in coal exports, a new study shows. Such exports... 

Green primary iron made in South Africa could help global steelmakers lower the cost of their decarbonisation efforts
Photo by Creamer Media
Green primary iron made in South Africa could help global steelmakers lower the cost of their decarbonisation efforts

Agreement inked to develop hydrogen recycling of end-of-life wind turbine magnets

By: Donna Slater     25th January 2022 Magnet metal and rare earths miner Pensana has signed a cooperation agreement with oil, gas and wind power company Equinor, forming a working group to share technical and commercial information to develop a low-energy method for recycling end-of-life magnets at Pensana’s rare earths hub in the... 

Fortescue sets record half

By: Esmarie Iannucci     25th January 2022 Iron-ore major Fortescue Metals has reported record iron-ore shipments in the half-year ended December, with shipments reaching 93.1-million tonnes in the half year, up 3% on the previous corresponding period. Fortescue on Tuesday reported that iron-ore shipments in the three months to December... 

Nowa Nowa proves profitable for Eastern Resources

By: Esmarie Iannucci     24th January 2022 A feasibility study into the Nowa Nowa iron project, in Victoria, has estimated a capital cost of A$15.7-million to support the production of some one-million tonnes a year of magnetite direct shipping ore (DSO). ASX-listed Eastern Resources on Monday said that the study estimated a... 

Fortescue turns to F1 engineering

By: Esmarie Iannucci     24th January 2022 Iron-ore major Fortescue Metals has struck a £164-million deal to acquire UK-based technology and engineering services business Williams Advanced Engineering (WAE). WAE is an offshoot of the Williams F1 team and is renowned for its ground-breaking projects in high performance battery systems... 

Image shows a smiling Andrew Forrest
Photo by Bloomberg
Fortescue chairperson Andrew Forrest

PIC increases shareholding in Afrimat to 15.55%

By: Donna Slater     21st January 2022 Following a disposal of shares by UBI General Partner, in its capacity as general partner of the African Rainbow Capital Fund, the Public Investment Corporation (PIC) has bought additional shares in building materials, industrial minerals and bulk commodities company Afrimat. The PIC now holds a... 

Fortescue looks at Sinosteel's Midwest and Oakajee projects

By: Esmarie Iannucci     21st January 2022 Iron-ore major Fortescue Metals has inked a binding memorandum of understanding (MoU) with major Sinosteel to complete a rapid assessment of that company’s Midwest magnetite project. The assessment will include a rail and port development at Oakajee, Fortescue said on Friday. 

Norseman's iron-ore potential draws interest

By: Esmarie Iannucci     21st January 2022 Junior Tulla Resources on Friday announced a heads of agreement (HoA) with Australia’s Koch Metals over a potential iron-ore offtake agreement at the Norseman project, in Western Australia. Tulla Resources subsidiary Central Norseman Gold Corporation and Pangolin Resources own all of the iron-ore... 

Brazil prosecutors order Vale to shore up 18 mining dams after heavy rains

By: Reuters     20th January 2022 Brazilian prosecutors in the state of Minas Gerais said on Wednesday that 18 tailings dams at mines run by Vale require some work to guarantee their safety following heavy rains in recent months. In a statement, state prosecutors said an analysis of 31 dams had revealed the need for the... 

BHP adjusts copper and coal expectations

By: Esmarie Iannucci     19th January 2022 Diversified major BHP has adjusted its full year outlook for metallurgical coal and copper productions as tough conditions continued. The miner on Wednesday reported that full year copper production was trending towards the low end of the guidance range of between 1.59-million and 1.76-million... 

BHP CEO Mike Henry
BHP CEO Mike Henry

November mining production, sales up; Omicron to weigh on December stats

By: Donna Slater     18th January 2022 Mining production increased by 5.2% year-on-year in November, buoyed by a 38.1% rise in the production of platinum group metals (PGMs) – contributing 7.7 percentage points to the overall tally; and a 9.3% rise in iron-ore – contributing 0.8 of a percentage point, overall. Financial services... 

Vale, other Brazil miners ramp up production as rains subside

By: Reuters     18th January 2022 Brazilian miners including Vale are resuming production in the southeastern state of Minas Gerais after halting some operations due to heavy rains that disrupted logistics and increased the risk of accidents. Vale said in a securities filing on Monday that the Brucutu and Mariana mines were... 

Rio reports tough end to the year

By: Esmarie Iannucci     18th January 2022 Diversified major Rio Tinto has seen a drop in production across all of its commodities for the full year ending December, and in the last quarter of the year, compared with the previous corresponding period. CEO Jakob Stausholm said that in 2021, Rio continued to experience strong demand for... 

Image shows hard hats and high-vis vests with the Rio insignia

Vale resumes Minas Gerais operations after heavy rains

By: Reuters     17th January 2022 Brazilian miner Vale said on Monday it has partially resumed operations in the state of Minas Gerais after being forced to halt some mines a week ago due to heavy rains that increased the risk of accidents and caused logistics disruptions. According to a securities filing, the stoppages caused... 

Brazil prosecutors appeal to Supreme Court in collapsed dam case

By: Reuters     17th January 2022 Prosecutors for the Brazilian state of Minas Gerais appealed to the country's Supreme Court (STF) on Friday over a ruling that transferred to the federal judiciary a criminal case surrounding the deadly collapse of a tailings dam in 2019 that killed 270 people. In January 2020, state... 

BHP buys electric trains for the Pilbara

By: Esmarie Iannucci     17th January 2022 Major BHP will purchase four battery-electric locomotives and conduct trials at its Western Australia iron-ore rail network, as part of the company’s ongoing efforts to reduce its operational emissions. The four locomotives are scheduled for delivery in late 2023, with two to be supplied by... 

Image shows stockpiles of iron-ore at a BHP site

Iron-ore climbs to 3-month high as deluge halts Brazilian mines

By: Bloomberg     13th January 2022 Iron-ore advanced to the strongest level since the middle of October as heavy rains disrupted southeastern Brazil’s iron-ore industry, with the world’s No. 2 producer Vale among companies halting operations and regulators sent to monitor the impact on tailings dams. Vale has partially suspended... 

Nigeria woos Barrick Gold, Rio Tinto to spur nascent mining industry

By: Bloomberg     13th January 2022 Barrick Gold Corp and Rio Tinto Group have expressed interest in Nigeria’s largely untapped mining sector, according to the West African nation’s mining minister. “They are looking at the possibility of coming to look at opportunities in Nigeria,” Olamilekan Adegbite said in an interview at a... 

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