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Iron Ore News

China's first iron-ore futures ETF raises $11m ahead of Friday debut

By: Reuters     25th March 2020 China's first iron ore futures-based exchange traded fund (ETF) has raised $11-million from institutional investors and clients at private banks, according to the manager of the fund, which will list in Hong Kong on Friday. The ETF, managed by the Hong Kong unit of Chinese broker Shanxi... 

Strike tips Utah Point as preferred port

By: Esmarie Iannucci     25th March 2020 ASX-listed Strike Resources has tipped Utah Point, at Port Hedland, as the preferred port destination for its Paulsens East iron-ore project, in Western Australia. A trade-off study focused on Port Hedland, which has existing infrastructure that could be used to bring Paulsens East into... 

Vale taps credit as virus heaps on strain after dam breach

By: Bloomberg     24th March 2020 Vale SA is tapping into $5-billion in credit lines to boost its cash position as the coronavirus pandemic forces cutbacks at a time when the iron ore producer was working to recover from a dam collapse last year. Vale asked banks to disburse the lines in two tranches, with $2-billion due in June... 

South African miners preparing for three-week lockdown 

By: Simone Liedtke     24th March 2020 Various South African mining companies have pledged their support for President Cyril Ramaphosa’s Covid-19 directives and range of measures in respect of mitigating the impact of the pandemic on South Africa’s economy. The pledges follow the President’s address to the nation on Monday evening,... 

South African miners preparing for three-week lockdown
Photo by Creamer Media
President Cyril Ramaphosa

If we don’t take climate change seriously, God help us – Mxolisi Mgojo   

By: Martin Creamer     23rd March 2020 Coal mining company Exxaro Resources, which acknowledges coal’s negative impact on climate in a 20-page publication just released, expresses the view that a just transition to a low-carbon future should inform global climate action. “If we don’t take climate change issues very, very seriously,... 

If we don’t take climate change seriously, God help us – Mxolisi Mgojo
Exxaro CEO Mxolisi Mgojo presentation covered by Mining Weekly’s Martin Creamer. Video Editing: Nichols Boyd. Photograph: Donna Slater. Video: Kutlwano Matlala.

Fortescue continues despite Covid-19

By: Esmarie Iannucci     23rd March 2020 Iron-ore major Fortescue Metals on Monday said that it would continue to operate its mine sites in the Pilbara, despite the Western Australian government implementing strict border controls that would require all new inter-state arrivals to self-isolate for a period of 14 days. “Fortescue has... 

Anglo takes companywide measures to limit spread, mitigate impacts of Covid-19 

By: Marleny Arnoldi     20th March 2020 Global diversified miner Anglo American has announced the measures that it is taking in light of the Covid-19 outbreak across its mining and corporate operations. CE Mark Cutifani says the measures are often tailored to the specific nature and location of a particular site to protect the... 

Anglo takes companywide measures to limit spread, mitigate impacts of Covid-19

Iron-ore prices resilient, activity levels healthy – S&P Global Platts

By: Reuters     17th March 2020 S&P Global Platts, which produces an iron ore benchmark index, said on Monday iron-ore prices have been resilient and activity levels have remained healthy recently. On Sunday, the China Iron & Steel Association (CISA) had warned about speculation risks in the market as the iron ore index was... 

China steel assoc warns of iron-ore speculation risks amid market fluctuations

By: Reuters     16th March 2020 China Iron & Steel Association (CISA) warned about speculation risks in the market, as the trend for the iron-ore index was deviating from the supply and demand fundamentals and the spot market, the Xinhua official news agency reported on Sunday. Benchmark Platts iron-ore index had surged 15%,... 

Vale adds sustainability goals to long-term compensation

By: Reuters     16th March 2020 Brazilian miner Vale has included environmental, social and governance goals to the long-term variable compensation of its top management and resumed 2019 bonus payments, according to a securities filing on Saturday. The move comes as Vale's reputation was hurt after its tailings dam at... 

Exxaro lifts dividend, creates jobs, supports enterprises 

By: Martin Creamer     12th March 2020 Black-controlled diversified resources group Exxaro, which created 746 jobs and supported 30 small, medium-sized and microenterprises in the twelve months to December 31, reported a R235-million top-line 2019 increase, raised its dividend payout and lifted headline earnings a share. Core earnings... 

Exxaro lifts dividend, creates jobs, supports enterprises
Photo by Creamer Media's Donna Slater
Exxaro CEO Mxolisi Mgojo.

Anglo American to buy solar power for Brazil mine

By: Mariaan Webb     11th March 2020 Global miner Anglo American has signed a 15-year contract to buy electricity generated from a photovoltaic plant owned and operated by Atlas Renewable Energy for its iron-ore mining operations in Brazil. The Casablanca solar plant, located in Minas Gerais, will supply 613GWh from 2022. Atlas... 

Anglo American to buy solar power for Brazil mine

Assore to delist from JSE, offers to buy back shares

By: Martin Creamer     9th March 2020 Mining company Assore, which has been listed on the JSE since 1950, has announced a transaction that will result in the minorities in the company being bought out and the company delisting from the exchange. Commenting on the transaction, Assore CEO Charles Walters said that the very low... 

Assore to delist from JSE, offers to buy back shares
Photo by Creamer Media
Charles Walters

Coronavirus likely to cause drastic price falls – Menar  

By: Martin Creamer     9th March 2020 The reduction in the consumption of mined products that the coronavirus was causing would likely result in a drastic fall in prices, Menar MD Vuslat Bayoğlu said on Monday. Metals and minerals like manganese, chrome, iron-ore and metallurgical coal were not being consumed at the rate they were... 

Coronavirus likely to cause drastic price falls – Menar
Menar MD Vuslat Bayoğlu interviewed by Mining Weekly’s Martin Creamer. Video Editing: Nicholas Boyd. Photographs: Donna Slater. Video: Kutlwano Matlala.

Vale says part of Gongo Soco mine continues to erode

By: Reuters     9th March 2020 Brazilian miner Vale said the company is monitoring its Gongo Soco mine in Barao dos Cocais as an embankment at the facility continues to erode, according to a securities filing on Monday. Vale said it is watching for any impact the erosion could have on the Sul Superior mining waste dam about... 

Brazil state authority defends licensing Anglo American facility expansion

By: Reuters     6th March 2020 A Brazilian state environmental authority on Thursday defended granting a licence to miner Anglo American to expand an iron-ore facility, including a mining waste dam, following a lawsuit by public prosecutors seeking to block the project. Minas Gerais, a major mining state, passed a law... 

Brazil state authority defends licensing Anglo American facility expansion

Sierra Leone iron-ore crisis creates debt-racked ghost town

By: Reuters     5th March 2020 In the months since Sierra Leone's largest iron-ore mine laid off almost all its workers due to a legal dispute with the government, the once bustling town of Lunsar has become a shadow of its former self. In the central market of Lunsar, whose name means "Land of Stones" in the local language,... 

China plans to approve developing giant Simandou iron-ore mine

By: Bloomberg     5th March 2020 China is close to giving the go-ahead for some of its biggest state-owned companies to develop the giant Simandou iron ore mine in Guinea, potentially paving the way for the project to be built after years of legal wrangling. China’s State-owned Assets Supervision and Administration Commission,... 

Christmas Creek cleared after Coronavirus scare

By: Esmarie Iannucci     5th March 2020 Iron-ore major Fortescue Metals has breathed a sigh of relief into the Pilbara after revealing that a member of its staff at the Christmas Creek operation had tested negative for the Covid-19. Reports emerged earlier this week that Fortescue had placed an employee in isolation, and that the... 

Brazil state prosecutors seek to block expansion of Anglo American mining dam

By: Reuters     4th March 2020 Brazilian state prosecutors filed a lawsuit on Tuesday requesting that miner Anglo American's licence to expand a mining dam be suspended, following a fatal mining disaster last year. The state of Minas Gerais passed a law last year commonly called "Sea of Mud, Never Again" to change mining... 

Brazil state prosecutors seek to block expansion of Anglo American mining dam
The Minas Rio operation, in Brazil.

Warning of ‘significant losses’ in South African mining industry if coronavirus outbreak is not contained soon 

By: Terence Creamer     3rd March 2020 A newly released report by Trade and Industrial Policy Strategies (TIPS) warns that South Africa’s mining industry could suffer “significant losses” should the coronavirus, or Covid-19, not be contained in the short term, which the authors defined as being by April 2020. In a policy brief, TIPS... 

Warning of ‘significant losses’ in South African mining industry if coronavirus outbreak is not contained soon
A worker wearing a protective mask in Cyrildene, also known as Johannesburg's 'Chinatown'

Swanepoel steps down as ARM director

By: Creamer Media Reporter      3rd March 2020 Bernard Swanepoel has stepped down as an independent nonexecutive director of diversified miner African Rainbow Minerals (ARM). Independent nonexecutive ARM director and investment committee member David Noko has been appointed ARM’s investment committee chairperson with immediate effect. 

MoU aims to raise Brazil’s profile among Canadian mining investors

By: Mariaan Webb     2nd March 2020 The Brazilian mining association, or Ibram, has signed a memorandum of understanding (MoU) with the TSX and TSX-V to establish a relationship to increase investment in the Brazilian mining sector in the coming years. The organisations will work together to increase the number of Brazilian mining... 

MoU aims to raise Brazil’s profile among Canadian mining investors
From left to right: Evelyn Coulombe, Consul General of Canada in Rio de Janeiro, Wilson Nélio Brumer, Ibram chairperson, Robert Peterman, TMX VP for global business development and Guillaume Légaré, TMX head of South America.

Iron-ore soars as China port stocks dip, stimulus hopes grow

By: Reuters     2nd March 2020 China's iron-ore futures hit the upside limit on Monday as declining stockpiles at ports indicated steel mills' improving appetite for the raw material, while expectations grew Beijing will roll out further support for its paralysed economy. iron-ore on the Dalian Commodity Exchange ended up 5.8%... 

Going green is a good business proposition ­– Schmidt  

By: Martin Creamer     28th February 2020 Going green and ensuring environmental protection is a good business proposition, African Rainbow Minerals (ARM) CEO Mike Schmidt said on Friday. Speaking to Mining Weekly after the company had declared a 25% higher dividend on the back of its platinum division reporting a 193%-better performance... 

Going green is a good business proposition ­– Schmidt
ARM CEO Mike Schmidt talks to Mining Weekly’s Martin Creamer. Video Work: Darlene Creamer

South Africans working together will find energy solutions – ARM  

By: Martin Creamer     28th February 2020 South Africans working together with confidence and enthusiasm will improve the country and find energy solutions, African Rainbow  Minerals (ARM) executive chairperson Dr Patrice Motsepe said on Friday. Presenting a 25% higher interim dividend and a 193%-better performance from ARM Platinum in... 

South Africans working together will find energy solutions – ARM
ARM half-year results covered by Mining Weekly’s Martin Creamer. Video Work: Darlene Creamer

Havilah finds possible port solution

By: Esmarie Iannucci     28th February 2020 ASX-listed Havilah Resources has inked a confidential non-binding memorandum of understanding (MoU) with Port Augusta Operations for the use of an iron-ore port and transshipment facility. Port Augusta Operations holds a 99-year lease over the former Port Playford, which it is developing into an... 

China ferrous metals' sell-off intensifies amid pandemic, recession fears

By: Reuters     28th February 2020 Prices of steel products and raw materials on China's futures markets tumbled on Friday, with iron-ore dropping nearly 5% as the fast-spreading coronavirus fuelled fears of a global recession, darkening the demand outlook for ferrous metals. China, where the coronavirus originated and has... 

Vale preparing for potential fuel leak from damaged ore carrier

By: Reuters     28th February 2020 Brazilian mining company Vale said on Thursday it has begun preparations for a potential fuel leak from the damaged iron-ore carrier MV Stellar Banner, which is stranded off the Brazilian northern coast. Vale said in a statement it requested that oil company Petrobras appropriate ships to deal... 

Vanadium One Iron outlines plan for high-grade Quebec iron project

By: Mariaan Webb     28th February 2020 The recently completed preliminary economic assessment (PEA) for the Mont Sorcier iron and vanadium project is supporting TSX-V-listed Vanadium One Iron Corp’s vision for a mine near Chibougamau, Quebec. Announcing the results of the PEA on Thursday, the company said that the study outlined a... 

ARM buoyed by soaring platinum earnings, ups dividend  

By: Martin Creamer     28th February 2020 The earnings of black-owned diversified mining company African Rainbow Minerals ARM were buoyed in the six months to December 31 by soaring platinum earnings, which helped to offset lower manganese metals and thermal coal prices. ARM Platinum’s half-year headline earnings rocketed 193% to... 

ARM buoyed by soaring platinum earnings, ups dividend
Photo by Creamer Media
Patrice Motsepe

Anglo welcomes Mboweni’s move to facilitate cross-border transactions

By: Simone Liedtke     27th February 2020 Diversified miner Anglo American has welcomed the number of measures to facilitate cross-border financial transactions, in support of trade and investment, announced by South Africa’s Finance Minister Tito Mboweni during his National Budget Speech on Wednesday. In a statement on Thursday, Anglo... 

Vale says iron-ore ship was damaged

By: Reuters     27th February 2020 Brazilian miner Vale said on Wednesday the bow of the iron ore ship "MV Stellar Banner" was damaged after leaving a port in the northern Brazilian state of Maranhao on Monday. Vale said in a statement that the ship, which is 100 km off the Brazilian coast, is owned and operated by the South... 

While $1bn green investment is laudable, Rio Tinto has to do more – Woodmac

By: Mariaan Webb     26th February 2020 Global miner Rio Tinto’s announcement that it will spend $1-billion to reach net zero emissions by 2050 has been hailed as a “small, but significant step in the right direction”, however Wood Mackenzie vice chairperson of metals and mining Julian Kettle said on Wednesday that the iron-ore major... 

Rio CEO says world must sacrifice growth to meet climate goals

By: Bloomberg     26th February 2020 Rio Tinto Group’s CEO said the world must be prepared to sacrifice growth to achieve climate goals as the natural resources industry comes under increasing pressure to curb emissions. “The challenge for the world, and for the resources industry, is to continue the focus on poverty reduction and... 

Rio CEO says world must sacrifice growth to meet climate goals
Rio Tinto CEO Jean-Sebastien Jacques

Record stash of steel in China as demand slammed

By: Bloomberg     25th February 2020 The world’s largest steel industry just sent out another warning flare as producers grapple with the coronavirus outbreak: nationwide stockpiles of reinforcement bar have swelled to the most on record. The surge is a reflection of the dislocation caused by the disease and efforts to fight it.... 

Even without a case, Africa may be a big victim of coronavirus

By: Bloomberg     24th February 2020 Even without a single confirmed case, sub-Saharan Africa may be the region hardest hit outside of Asia by the spread of the coronavirus. The outbreak has shut down entire swathes of the Chinese economy, threatening world economic growth and curbing appetite for oil and metals that are the... 

Vale says 'no new facts' in internal report on deadly dam disaster

By: Reuters     21st February 2020 An in-depth internal report examining the causes of Vale SA's deadly Brumadinho tailings dam disaster last year contained "no new facts, nor surprises," the company's general counsel said on Friday. Late on Thursday, Vale released the report, which said the company had information as far back as... 

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