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Iron Ore News

Kumba to report higher full-year earnings despite lower production, sales

By: Creamer Media Reporter      28th January 2021 Iron-ore miner Kumba Iron Ore expects to report headline earnings of between R21.83-billion and R23.43-billion and headline earnings per share (HEPS) of between R68.07 and R73.06 for the year ended December 31. That represents an increase of between 34% and 44% on the headline earnings of... 

Fortescue posts record shipments

By: Esmarie Iannucci     28th January 2021 Iron-ore miner Fortescue Metals has reported record shipments for the half-year ended December, and has celebrated first ore at its new Eliwana mine, in the Pilbara, during December. Iron-ore shipments in the December quarter reached 46.4-million tonnes, contributing to a record 90.7-million... 

Fortescue posts record shipments

Four mining companies adopt Mining Local Procurement Reporting Mechanism

By: Donna Slater     27th January 2021 Mining Shared Value (MSV), a nonprofit initiative of Engineers Without Borders Canada, reports that four mining companies have, so far, adopted the Mining Local Procurement Reporting Mechanism (LPRM), with two more confirming their plans to do so shortly. Ivanhoe Mines became the first company... 

China industry body sees steel demand rising in 2021, seeks to secure raw material supply

By: Reuters     27th January 2021 China's steel demand will increase slightly in 2021, supported by stable macroeconomic policies, the steel association said on Wednesday, even as the government has urged companies to produce less steel this year. Economic policies that China adopted to cope with the Covid-19 pandemic will shore... 

China industry body sees steel demand rising in 2021, seeks to secure raw material supply

Liberia sees $800m ArcelorMittal investment this year

By: Bloomberg     26th January 2021 Liberia’s government expects talks with ArcelorMittal to yield an agreement to invest $800-million in the West African nation, President George Weah said. Talks with the steelmaker about amending a so-called Mineral Development Agreement have made “significant progress,” Weah said in an address... 

Liberia sees $800m ArcelorMittal investment this year

Mining tycoon Steinmetz sentenced to 5 years in jail in bribery case

By: Bloomberg     25th January 2021 Israeli diamond and mining tycoon Beny Steinmetz was found guilty of bribing a public official to secure an iron-ore mine in Guinea worth billions of dollars. Steinmetz was sentenced to five years by Judge Alexandra Banna in a Geneva court Friday. He was partially acquitted on forgery charges in... 

Diamond and mining tycoon Beny Steinmetz
Diamond and mining tycoon Beny Steinmetz

Pellet production resumes at Vargem Grande

By: Mariaan Webb     22nd January 2021 Brazilian iron-ore miner Vale has resumed production at the pelletising plant in Vargem Grande, two years after production were halted in a crackdown by authorities following a fatal dam break. Vargem Grande will produce between four-million and five-million tonnes this year, Vale said on... 

Pellet production resumes at Vargem Grande

Brazil state gives Vale ultimatum on settlement talks

By: Reuters     22nd January 2021 Brazilian iron-miner Vale failed on Thursday to reach a legal settlement with Minas Gerais state regarding a deadly dam disaster, with the State warning it would not take "crumbs" and giving a ten-day deadline for a better offer. About 270 people died in 2019 in the town of Brumadinho in Minas... 

Forrest paves the way for green steel

By: Esmarie Iannucci     22nd January 2021 Mining magnate Andrew Forrest has pledged iron-ore major Fortescue to a green energy future, unveiling plans for green steelmaking in the Pilbara. In the first ABC Boyer Lecture for 2021, which will be aired over the weekend, Forrest in a recorded message stated that Fortescue would build... 

Fortescue founder and chairperson Andrew Forrest
Photo by Bloomberg
Fortescue founder and chairperson Andrew Forrest

Guinea President retains Magassouba as Mines Minister

By: Reuters     22nd January 2021 Guinea President Alpha Conde has retained Abdoulaye Magassouba as mines minister overseeing the West African nation's bauxite, iron-ore, gold and diamond wealth, according to a decree read on state television on Thursday. Magassouba was first appointed to the position in January 2016. Under his... 

Jupiter Mines to proceed with Central Yilgarn demerger, IPO

By: Simone Liedtke     21st January 2021 ASX-listed Jupiter Mines will proceed with the demerger and initial public offering (IPO) of its Central Yilgarn iron-ore (CYIP) assets through newly created company, Juno Minerals. The two companies on January 21 lodged a notice of a general meeting, which will be held virtually on February 19. 

November mining production down 11.6% y/y

By: Donna Slater     19th January 2021 Statistics South Africa (Stats SA) reports that South Africa’s mining production decreased by 11.6% year-on-year in November, largely owing to iron-ore output having decreased by 35.3%, contributing 3.9 percentage points. Platinum group metals (PGMs) also dragged the industry’s performance down,... 

China 2020 iron-ore imports hit record on robust post-virus demand

By: Reuters     14th January 2021 China's iron-ore imports hit a record high in 2020, jumping 9.5% from a year earlier as the country beefed up spending on infrastructure to spur an economic recovery amid the coronavirus pandemic and manufacturing increased. China, the world's top steel producer, imported 1.17-billion tonnes of... 

Botswana's Masisi joins list of Presidents to address Mining Indaba

By: Donna Slater     12th January 2021 Botswana President Mokgweetsi Masisi has added his name to the upcoming virtual Mining Indaba to be held from February 2 to 3. He joins other Presidents, including South Africa Cyril Ramaphosa, Sierra Leone’s Julius Maada Bio and the Democratic Republic of Congo’s Félix Tshisekedi, who have been... 

BHP invests in startup seeking to make emissions-free steel

By: Bloomberg     12th January 2021 BHP Group, the world’s biggest mining company, has invested in a startup company seeking to develop less-polluting ways of making steel. While many in the mining industry have outlined how they plan to curb their own direct pollution, those emissions are a fraction of ones produced by customers,... 

Steinmetz’s bribery trial starts a fresh chapter of mining saga

By: Bloomberg     8th January 2021 Beny Steinmetz goes on trial facing bribery charges in Geneva on Monday in the latest chapter of a legal saga that’s dogged the Israeli businessman’s gamble on a multibillion-dollar mine. Steinmetz and two businesspeople are accused of paying the wife of Guinea’s deceased former president... 

Brazil state eyes at least $5.3bn Vale deal after dam burst, official says

By: Reuters     7th January 2021 The Brazilian state of Minas Gerais is hoping to win at least 28-billion reais ($5.3-billion) from a compensation deal with miner Vale after the 2019 Brumadinho deadly dam burst, a senior state official said on Wednesday. State and Vale officials will meet on Thursday, when it is expected talks... 

Brazil state eyes at least $5.3bn Vale deal after dam burst, official says

Covid recovery boosts Aus exports

By: Esmarie Iannucci     4th January 2021 The outlook for Australia’s resource and energy exports has improved over the past three months, as global economic activity rebounds from the Covid-19 pandemic, with resources and energy exports to remain robust after earning a record A$291-billion in 2019–20, federal Resources Minister Keith... 

Covid recovery boosts Aus exports

Zambia President says greater State role in mines will help economy recover 

By: Reuters     17th December 2020 Zambia must build majority stakes in selected mines to benefit from its mineral wealth beyond taxes, President Edgar Lungu said on Thursday, as he set out an economic recovery plan after the country defaulted on a debt payment last month. Africa's second-biggest copper producer, Zambia is seeking... 

Zambian President Edgar Lungu
Zambian President Edgar Lungu

Sundance picks a fight with Cameroon and Congo

By: Esmarie Iannucci     17th December 2020 Junior Sundance Resources has serviced notices of dispute on the Republic of Congo and the Republic of Cameroon over its Mbalam and Nabeba iron-ore projects. The company this week told shareholders that it became aware on December 7 that the Republic of Congo had in late November issued a... 

Iron-ore windfall supports mid-year budget

By: Esmarie Iannucci     17th December 2020 Higher than expected iron-ore prices has assisted the Australian economy to rebound faster than initially projected. In the mid-year economic and fiscal outlook (MYEFO), Treasurer Josh Frydenberg noted that Australia’s real gross domestic product (GDP) grew by 3.3% in the September quarter after... 

Iron-ore windfall supports mid-year budget

Rio Tinto’s IOC invests in mining skills development

By: Creamer Media Reporter      16th December 2020 The Iron Ore Company of Canada (IOC) and College of the North Atlantic (CNA) have signed a memorandum of understanding (MoU) to collaborate on the development of new skills aligned with the latest advancements in mining technology. The Rio Tinto subsidiary will invest C$2-million over three... 

Global miner adopts flexible working model

By: Mariaan Webb     16th December 2020 Brazilian major Vale has permanently adopted a more flexible working model for its employees that combines remote work and the use of collaborative spaces. The ‘flexible office’ model prioritises the wellbeing and safety of its employees, the diversified mining company said on Tuesday, noting... 

Global miner adopts flexible working model

Rio Tinto willing to help improve iron-ore pricing system - China steel body

By: Reuters     15th December 2020 Miner Rio Tinto is willing to work with iron-ore consumers to review the pricing mechanism for the steelmaking ingredient, the China Iron & Steel Association (CISA) said, as near-record high prices squeeze margins at Chinese mills. CISA recently called on regulators in China, the world's top... 

Glencore enters partnership with Tre-Altamira to expand satellite monitoring across its TSFs

By: Creamer Media Reporter      15th December 2020 Diversified miner Glencore has entered into an agreement with commercial services provider Tre-Altamira to expand satellite monitoring to more than 110 of its tailings dams worldwide, which Glencore says is the largest industry monitoring agreement to date specifically focusing on tailings... 

China to prioritise Russian/Indonesian coal - report

By: Esmarie Iannucci     15th December 2020 The Australian government on Tuesday said that it would "defend the rights" of Australian exporters after reports emerged that China was restricting imports of Australian coal in favour of coal sourced from Indonesia and Russia. A report by the Global Times reported that China’s National... 

China to prioritise Russian/Indonesian coal - report

Vale says it has ended use of converted VLCC ships

By: Reuters     14th December 2020 Brazilian miner Vale has stopped using very large crude carrier (VLCC) ships converted into very large ore carriers (VLOC), following a final delivery to China on Sunday, according to a securities filing on Monday. Vale had said in January it would stop using the converted ships, opting instead... 

Iron-ore rattled as crackdown plea from China mills spurs slump

By: Bloomberg     14th December 2020 Iron-ore futures in Singapore tumbled from the highest since 2013 after a leading mills’ group in China stepped up its push for authorities in the top importer to investigate the raw material’s blistering rally. The China Iron & Steel Association called on the State Administration of Market... 

Iron-ore rattled as crackdown plea from China mills spurs slump

Samarco to restart mining five years after deadly dam burst

By: Reuters     14th December 2020 Brazilian miner Samarco is planning to restart operations in late December, the company said on Friday, five years after a dam burst killed 19 people and resulted in Brazil's worst ever environmental disaster. Samarco Mineracao, a joint venture between BHP Group and Vale, said it had begun the... 

Doce river revegetation
Doce river revegetation

Anglo forecasts higher output, lower costs for 2021 

By: Creamer Media Reporter      11th December 2020 Diversified miner Anglo American expects its production for 2021 to increase by 14% year-on-year and its unit costs to decrease by 3% year-on-year. In an investor update published on December 11, the miner said it had maintain a strong performance this year, despite Covid-19-related and other... 

Anglo American CEO Mark Cutifani
Anglo American CEO Mark Cutifani

Steps South Africa needs to take to attract global exploration investment 

By: Martin Creamer     10th December 2020 Countries wanting to attract exploration investment need readily available geophysics data to offer to prospective investors. “Geophysics is now key to the exploration industry, particularly for metalliferous-type deposits, which have the largest value,” Exploration Geological Consultancy MD... 

Exploration Geological Consultancy MD Regina Molloy
Photo by Creamer Media
Exploration Geological Consultancy MD Regina Molloy

ArcelorMittal celebrates the 60th anniversary of its railway in Quebec’s North Shore

By: Creamer Media Reporter      10th December 2020 The 420-km railway linking ArcelorMittal Mont-Wright mine to its facilities in Port-Cartier, in Quebec, remains a strategic link, shipping more than 25-million tonnes of iron-ore to international markets. Celebrating the sixtieth anniversary of the railway on Thursday, ArcelorMittal... 

ArcelorMittal celebrates the 60th anniversary of its railway in Quebec’s North Shore

October mining production down 6.3% y/y, sales rise 30.7% year-on-year 

By: Donna Slater     10th December 2020 South Africa's mining production decreased by6.3% year-on-year in October, Statistics South Africa (Stats SA) reports. The most significant contributors to the decrease were iron-ore, which was down 26.5%, contributing -2.6 percentage points to the overall industry performance; while chromium... 

Iron-ore is this year’s hottest commodity on China-fuelled surge

By: Bloomberg     10th December 2020 A surge in demand in China, the world’s key growth engine, risks a shortage of iron-ore that’s pushed prices past $150 a ton and crowned it this year’s best-performing major commodity. Futures in Singapore have surged almost 70% this year, hitting their highest since trading started in 2013, as... 

Iron-ore is this year’s hottest commodity on China-fuelled surge

Anglo American appoints new nonexec director

By: Simone Liedtke     10th December 2020 Hilary Maxson will join the Anglo American board as a nonexecutive director and member of the audit committee with effect from June 1, 2021. “[Maxson] brings a combination of experience that aligns well with our business, spanning finance, the capital markets, energy and technology, gained across... 

Vale negotiating funds for Brumadinho disaster

By: Reuters     10th December 2020 Iron-ore miner Vale and the government of Brazil's Minas Gerais state are negotiating an agreement to settle damage claims stemming from the 2019 Brumadinho dam disaster involving the injection of billions of reais into funds to be managed by the state government. The talks on Wednesday focused... 

Robe Mesa to cost A$51m - CZR

By: Esmarie Iannucci     10th December 2020 A prefeasibility study (PFS) into the Robe Mesa iron-ore project, in the Pilbara, has estimated that the project would require a capital investment of A$51.1-million. ASX-listed CZR Resources noted that the study targeted a production rate of two-million tonnes a year of direct shipping ore... 

Australian miner expects robust demand for steel next year

By: Reuters     9th December 2020 Australia's Fortescue Metals Group expects iron-ore demand to be strong next year thanks to a solid Chinese steel market and post-pandemic recoveries in other countries, a senior company executive said on Wednesday. Iron ore prices soared this month towards $150 a tonne due to ongoing supply... 

Australian miner expects robust demand for steel next year
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