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Iron Ore News

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)... 

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

Minerals Council welcomes revised Covid-19 regulations

By: Martin Creamer     16th April 2020 The Minerals Council South Africa on Thursday welcomed the amendments to the Disaster Management Act regulations as they pertain to mining. These regulations allow a phase-up in mining capacity to 50% during the lockdown period, but with all the preventative and mitigating controls in place to... 

Minerals Council welcomes revised Covid-19 regulations
Minerals Council CEO Roger Baxter

Mining may resume at 50% capacity – Minister 

By: Martin Creamer     16th April 2020 All mining operations, excluding collieries supplying Eskom which have been permitted to operate at full capacity throughout national lockdown, may now resume at 50% capacity during the remaining lockdown days, Mineral Resources and Energy Minister Gwede Mantashe said on Thursday. Thereafter,... 

Mining may resume at 50% capacity – Minister
Photo by Veronica Creamer
Mineral Resources Minister Gwede Matashe during virtual media conference.

Brazil mineral output falls, downturn to deepen in Q2 amid coronavirus

By: Reuters     16th April 2020 Brazil's mineral production fell 17% in the first quarter of 2020, compared with a year ago, with the coronavirus outbreak's impacts on the sector expected to deepen in the second quarter, industry group Ibram said on Wednesday. Mineral output totaled 220.4-million tonnes in the first quarter,... 

ERG to boost iron-ore sales to China as traditional markets shrink

By: Reuters     15th April 2020 The Kazakh iron-ore unit of mining and metals conglomerate Eurasian Resources Group (ERG) is increasing exports to China to offset declining demand in the former Soviet Union, the company said on Wednesday. Chinese consumers have confirmed they are ready to buy additional volumes of ore, ERG... 

Modi backs billionaire to restart mining in resort state of Goa

By: Reuters     15th April 2020 With Goa’s fabled beaches emptied by a nationwide lockdown to fight the coronavirus, the Indian state is about to witness an epic battle at the heart of the trade-off between reviving the economy and protecting the environment. On April 21, India’s Supreme Court is scheduled to begin hearing a... 

Court ruling marks major milestone for reopening of Amapa iron-ore mine

By: Mariaan Webb     14th April 2020 The Commercial Court of São Paulo has ruled that DEV Mineração, the owner of the Amapá iron-ore project could start shipping stockpiled iron-ore, marking a major milestone for the reopening of the iron-ore mine that once belonged to diversified miner Anglo American. London-listed Cadence, which... 

Vale to prepay $179m to suppliers

By: Reuters     10th April 2020 Brazilian miner Vale will prepay 932-million reais ($179.5-million) to roughly 3 000 small suppliers by the end of April, in a move to help ease the economic impact on them from the coronavirus outbreak. The company said it has already disbursed nearly half of this amount in the last two weeks. 

Too early to comment on when mining will resume – Minerals Council

By: Martin Creamer     9th April 2020 Comment on when mining industry operations will resume is premature but what is certain is that when resumption does occur, it will not be business as usual, Minerals Council South Africa said on Thursday. Noting reports on the resumption of mining operations after 16 April, Minerals Council... 

Afrimat expects to report higher full-year earnings

By: Tasneem Bulbulia     9th April 2020 JSE-listed Afrimat expects its earnings a share for the year ended February 29 to be between 318.2c and 362.4c, reflecting an increase of between 44% and 64% year-on-year. Its headline earnings a share are expected to be between 323.1c and 369.9c, reflecting an increase of between 38% and 58%... 

Moody’s cuts outlook for steel industries further

By: Marleny Arnoldi     9th April 2020 Ratings agency Moody’s Investors Service already had negative outlooks for steel industries across the world, largely based on weak fundamentals in 2019, but the Covid-19 outbreak has made conditions worse and prompted the agency to cut the outlook for steel industries further. Moody’s says the... 

New scoping at Paulsens East shows Utah Point results

By: Esmarie Iannucci     9th April 2020 A revised scoping study into the Paulsens East iron-ore project, in Western Australia, incorporating the Utah Point, at Port Hedland, as the shipping port, has confirmed the project economics. The original scoping study completed in late 2019, considered the Onslow marine supply base, at Beadon... 

Richards Bay Minerals undertakes series of measures against Covid-19 in local community

By: Simone Liedtke     8th April 2020 In response to President Cyril Ramaphosa’s call to action, mineral sands producer and beneficiation company Richards Bay Minerals (RBM) has undertaken a series of measures against Covid-19 in its operations and is working with other businesses and industry bodies in the King Cetshwayo district to... 

Richards Bay Minerals undertakes series of measures against Covid-19 in local community

Kogi Iron sees ongoing interest in Nigeria-based cast steel project

By: Simone Liedtke     7th April 2020 ASX-listed Kogi Iron is seeing ongoing interest from potential new investors in its Agbaja cast steel project, in Nigeria, where Kogi is starting to see global capital flows to the commodity sector. Owing to the rapid escalation and global impacts of the coronavirus, or Covid-19, Kogi and KCM... 

Kogi Iron sees ongoing interest in Nigeria-based cast steel project
A location map of Kogi Iron's Nigerian cast steel project.

Covid-19 preventing shareholders from attending Anglo AGM

By: Martin Creamer     7th April 2020 Shareholders will not be permitted to attend this year’s annual general meeting (AGM) of Anglo American because of Covid-19 restrictions – but they have been invited to submit questions in advance for answering at the AGM. The London- and Johannesburg-listed diversified mining company said in a... 

Anglo going to great lengths to support South Africa in its Covid-19 hour of need  

By: Martin Creamer     6th April 2020 Diversified mining company Anglo American is going to remarkable lengths to support South Africa through the devastating Covid-19 crisis. The London- and Johannesburg-listed company, headed by Australian Mark Cutifani, is showing far-reaching corporate humanitarianism by taking firm steps to... 

Anglo going to great lengths to support South Africa in its Covid-19 hour of need
Photo by Bloomberg
Mark Cutifani

ARM’s iron-ore mines allowed to continue loading from stockpile

By: Marleny Arnoldi     3rd April 2020 JSE-listed diversified miner African Rainbow Minerals (ARM) advises shareholders that its joint venture subsidiary, Assmang, has been granted permission from Mineral Resources and Energy Minister Gwede Mantashe to operate its iron-ore load-out stations. The Khumani and Beeshoek mines are... 

Canada metals, mining sees 19.4% rise in deal activity

By: Simone Liedtke     3rd April 2020 Canada’s metals and mining industry saw a rise of 19.4% in overall deal activity during February, when compared with the last 12-month average, according to analytics and consulting company GlobalData’s deals database. A total of 43 deals worth $430.7-million were announced in February, compared... 

Brazil mining regulator orders closure of 25 Vale dams

By: Reuters     3rd April 2020 Brazil's National Mining Agency (ANM) said on Thursday that it would halt operations at 47 mining dams that failed to certify their stability, including at least 25 belonging to the world's largest iron-ore producer Vale. The safety of Vale's facilities have been under heavy scrutiny after one... 

Brazil mining regulator orders closure of 25 Vale dams

Fund managers see once-in-decade shot in Brazil’s iron-ore giant

By: Bloomberg     3rd April 2020 Investors have been piling into shares of the world’s largest iron-ore producer, touting it as one of the biggest opportunities to emerge from the carnage in Brazilian markets. Vale sank to a three-year low in March amid the coronavirus outbreak that has disrupted production chains across the... 

Standard Bank meeting all capital and liquidity requirements 

By: Martin Creamer     1st April 2020 Capital and liquidity requirements across all the markets in which it operates are continuing to be met, Standard Bank Group FD Dr Arno Daehnke said during an investor call. Daehnke disclosed that the bank was benefitting from building up increased capital levels over the last few years in line... 

Standard Bank meeting all capital and liquidity requirements
Sim Tshabalala

A billionaire miner is using China ties to source virus supplies

By: Bloomberg     1st April 2020 Australian billionaire Andrew Forrest has spent more than a decade feeding China’s steel-making boom – now he’s leveraging his ties there to source medical supplies for the battle against the coronavirus Down Under. Forrest’s Minderoo Foundation has pledged A$160-million to source equipment from... 

Vale says resumption of lost capacity could be slowed

By: Reuters     31st March 2020 Brazilian mining company Vale said on Tuesday it was at risk of postponing the resumption of lost production capacity due to possible coronavirus-related delays in inspections, assessments and authorizations but that existing output so far had seen little impact. The risks, representing a fresh... 

Vale says resumption of lost capacity could be slowed

African Rainbow Minerals financial director to step down

By: Martin Creamer     31st March 2020 South Africa’s diversified black-controlled mining and minerals company African Rainbow Minerals (ARM) on Tuesday announced that its FD Abigail Mukhuba would be stepping down with effect from the end of September to pursue a new career, and that ARM senior executive finance: corporate and tax... 

Assore halts mines and smelters, prioritises on-time supplier payment

By: Martin Creamer     31st March 2020 Mining and marketing company Assore, which is delisting from the Johannesburg Stock Exchange after 70 years, on Tuesday informed its shareholders that it had taken lockdown steps following the increased incidents of COVID-19 in South Africa. Assmang, which is half owned by Assore and jointly... 

Assore halts mines and smelters, prioritises on-time supplier payment
Photo by Creamer Media
Charles Walters

Flinders raises cash to repay loans

By: Esmarie Iannucci     31st March 2020 Iron-ore junior Flinders Mines is hoping to raise A$14.52-million through a one-for-six non-renounceable entitlement offer, priced at 2.5c a share. The entitlement offer would consist of more than 580.86-million shares, and would be issued on the basis of one new share for every six existing... 

Fitch Solutions says volatility to continue driving metals prices lower

By: Simone Liedtke     30th March 2020 Research agency Fitch Solutions expects volatility to continue playing to the downside for metal prices in the coming weeks owing mainly to bearish investor sentiment on the back of the widespread Covid-19 pandemic. The agency notes that metal prices started the year on a strong footing as the... 

Fitch Solutions says volatility to continue driving metals prices lower

Mining could be enormous post-virus stabiliser – Minerals Council

By: Martin Creamer     29th March 2020 The mining industry could be an enormous asset in stabilising and growing the economy post the coronavirus crisis – but the right economic and regulatory circumstances would have to prevail, Minerals Council South Africa stated in a weekend media release. Post coronavirus, South Africa would... 

ARM, Motsepe family play key roles in R1bn coronavirus pledge

By: Martin Creamer     28th March 2020 South Africa’s diversified black-controlled mining and minerals company African Rainbow Minerals (ARM) and the Motsepe family on Saturday formed the key part of the partnership of companies and organisations that have pledged R1 billion to assist with the current coronavirus (Covid-19) pandemic... 

ARM, Motsepe family play key roles in R1bn coronavirus pledge
Photo by Creamer Media
Dr Patrice Motsepe and Dr Precious Moloi-Motsepe at Saturday's remote media conference using the Internet to ensure social distance.

Anglo American cuts South African iron-ore, coal guidance 

By: Donna Slater     27th March 2020 Diversified miner Anglo American is taking steps at its relevant operations in line with Covid-19-related regulations enforced in the various jurisdictions in which it operates around the world. It will also continue to provide a number of essential services, including security; mine... 

Coronavirus uncertainty sinks Alderon’s deal with Tunghsu

By: Mariaan Webb     27th March 2020 The volatility and uncertainty created by the outbreak of the Covid-19 pandemic has scuppered a potential deal that Canadian junior Alderon Iron Ore agreed with a Chinese partner and has now left the company scratching for money to repay a loan due by the end of this month. Alderon said on... 

Coronavirus uncertainty sinks Alderon’s deal with Tunghsu

Fe sells iron-ore royalty

By: Esmarie Iannucci     27th March 2020 Junior Fe Limited has entered into a sale and purchase agreement with LSX-listed Trident Resources for its Evaston royalty interest, over a portion of the wider Koolyanobbing iron-ore mine, in Western Australia. The sales price of A$7-million in cash will be paid in two installments, with the... 

Mining to be ‘scaled down significantly’ during 21-day lockdown 

By: Terence Creamer     25th March 2020 Mining operations in South Africa are to be “scaled down significantly” during the 21-day lockdown period, particularly labour-intensive, deep-level mining activities, Mineral Resources and Energy Minister Gwede Mantashe reported on March 25. However, mines supplying coal to Eskom would remain in... 

Mining to be ‘scaled down significantly’ during 21-day lockdown
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