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Iron Ore News

Vale ordered to set aside $1.48bn for Brumadinho dam damages

By: Reuters     27th May 2020 A judge in Brazil's Minas Gerais state partially granted an injunction sought by prosecutors ordering iron-ore miner Vale to deposit 7.9-billion reais ($1.48-billion) for payment of potential fines related to a dam disaster last year. Vale faces multiple legal battles after a tailings dam it... 

Mining production to fall 8% to 10% this year, says Minerals Council

By: Reuters     26th May 2020 South Africa's mining production is likely to fall between 8% and 10% this year due to the Covid-19 pandemic, the CEO of industry body the Minerals Council said on Tuesday during a virtual panel discussion. Mines across South Africa, the world's biggest producer of platinum and chrome and a... 

Australia's Downer EDI secures $295.7m Eliwana mine contract from Fortescue

By: Esmarie Iannucci     26th May 2020 Australia's Downer EDI has secured a A$450-million ($295.70-million) contract from Fortescue Metals Group for early mining and maintenance services at Eliwana iron-ore mine in the Pilbara region of Western Australia, the engineering contractor said on Tuesday. Fortescue, the world's No. 4... 

CRU warns most commodities have further to fall

By: Mariaan Webb     25th May 2020 As the economic fallout of governments’ responses to the Covid-19 pandemic is starting to be counted, commodity market analyst CRU has warned that the repercussions will be significant and that most commodities prices have not yet reached the bottom. The coronavirus crisis has affected all... 

CRU warns most commodities have further to fall
The steelmaking value chain continues to favour iron-ore miners as prices remain elevated.

China steel body, producers call for domestic iron-ore output boost

By: Reuters     25th May 2020 China's steel association and major steelmakers have called for an increase in domestic iron ore production as well as greater investment in exploration overseas to ensure supplies. He Wenbo, chairman of the China Iron & Steel Industry Association (CISA), recommended at the Chinese People's... 

Mining billionaire gets help from ex-spies in bitter legal fight

By: Bloomberg     25th May 2020 Black Cube, the private intelligence agency run by former Israeli spies, spent months setting up companies around the world. Offices, websites and employees were painstakingly put in place -- all part of a sting targeting former executives at Brazilian mining giant Vale. The Black Cube... 

Mining billionaire gets help from ex-spies in bitter legal fight
The Simandou project, in Guinea.

Full reopening of mining from June 1 – President Ramaphosa

By: Martin Creamer     24th May 2020 Subject to strict Covid-19 protocols, mining will be allowed to reopen fully from June 1, President Cyril Ramaphosa said on Sunday. In his address on South Africa’s response to the coronavirus pandemic, the President announced that South Africa would advance to level 3 from June 1, with an... 

Full reopening of mining from June 1 – President Ramaphosa
Photo by Creamer Media's Donna Slater
President Cyril Ramaphosa

Trident raises funds to execute opportunities

By: Tasneem Bulbulia     22nd May 2020 Diversified miner Trident Resources has successfully placed 80-million new ordinary shares, at a price of 20p per ordinary share, raising gross proceeds of about £16-million, or about $20-million. The placing was led by Tamesis Partners, Ashanti Capital and Azure Capital and received strong... 

Leon lists measures to attract mining investment in these challenging times  

By: Martin Creamer     22nd May 2020 South Africa should consider appointing an independent minerals regulator to speed up minerals licensing, Herbert Smith Freehills Africa co-chair Peter Leon said during a webinar this week. Responding to Patrick Leyden, who moderated the webinar entitled re-imagining the sub-Saharan mining... 

Leon lists measures to attract mining investment in these challenging times
Herbert Smith Freehills Africa Co-Chair Peter Leon spoke at a webinar covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Basto to run BHP’s Australian mines

By: Mariaan Webb     22nd May 2020 Edgar Basto has been promoted to president of mining major BHP’s entire suite of Australian operations, including iron-ore, coal, nickel and copper, with effect from July 1. The Colombia-born executive previously headed BHP’s Western Australia iron-ore business and is filling the position left... 

Basto to run BHP’s Australian mines
Edgar Basto will head BHP's Australian operations.

Afrimat says all its mines will be at full operating capacity in June  

By: Marleny Arnoldi     21st May 2020 JSE-listed openpit miner Afrimat says it entered the Covid-19 lockdown with a strong balance sheet that will help it weather the uncertain and volatile business climate that is expected to prevail in the immediate future. The company points out that the partial reopening of the Demaneng... 

Afrimat says all its mines will be at full operating capacity in June
Afrimat CEO Andries van Heerden

Iron-ore ends higher as coronavirus crisis hampers Brazil supply

By: Reuters     21st May 2020 Dalian iron-ore futures surged past $100/t on Thursday, recovering lost ground as concerns about tightening supply of the steelmaking commodity from coronavirus-hit Brazil prevailed over a bleak outlook for global steel demand. After Brazilian iron-ore miner Vale cut its 2020 production outlook... 

Mining becoming significant corporate buyer of renewable energy ­– ICMM 

By: Martin Creamer     21st May 2020 The mining industry has started to become a significant corporate buyer of renewable energy in regions where these technologies have become reliable and cost-competitive compared with fossil fuel-based electricity, says the International Council on Mining and Metals (ICMM). These regions include... 

Mining becoming significant corporate buyer of renewable energy ­– ICMM
Wind turbines at Gold Fields’ Agnew gold mine in Western Australia.

China's mine development in sub-Saharan Africa likely to slow

By: Simone Liedtke     20th May 2020 The development of mines in sub-Saharan Africa by Chinese firms will slow in the coming quarters, before picking up again in 2021, says industry research company Fitch Solutions. In addition to logistical challenges being faced by miners as a result of the global Covid-19 pandemic, the company... 

Gazetted Covid guideline restates much of what mining has already adopted 

By: Martin Creamer     20th May 2020 The newly gazetted guideline to prevent, mitigate and manage the Covid-19 pandemic on mines is largely a restatement of what has already been adopted by the mining industry. Most of the requirements of the code of practice (COP) mandated in the gazette already form part of the standard operating... 

Gazetted Covid guideline restates much of what mining has already adopted
ENSafrica executive consultant Willem le Roux

Covid prevention a must at mines – gazette 

By: Martin Creamer     20th May 2020 Covid-19 prevention, mitigation and management programmes must be established at mines using the guideline gazetted by Chief Inspector of Mines David Msiza on Tuesday. The gazette notice states that this guideline provides minimum requirements for the compilation of a code of practice to prevent... 

Covid prevention a must at mines – gazette
Photo by Creamer Media
Chief Inspector of Mines David Msiza

Brazil mining sector will quickly bounce back after Covid-19 disruption – Ibram

By: Reuters     20th May 2020 Brazil's mining sector is likely to be the first to rebound from the economic shock of the coronavirus outbreak due to large iron-ore capacity and already-growing demand from China, the president of industry association Ibram told Reuters. Nonetheless, Flávio Penido said there could be a... 

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... 

Mandatory code of Covid mining practice gazetted
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe

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
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