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Iron Ore News

Iron-ore prices drive record interims for Fortescue

By: Esmarie Iannucci     18th February 2021 Record shipments, earnings and operating cashflow for the half-year ended December have seen iron-ore miner Fortescue Metals delivering a 93% increase in interim dividends to shareholders. Ore shipments for the six months under review were up by 2% on the previous corresponding period, to... 

First ore from Iron Bridge delayed

By: Esmarie Iannucci     18th February 2021 Iron-ore miner Fortescue Metals has pushed back first production from its Iron Bridge magnetite mine, in the Pilbara, to the second half of 2022, confirming cost blow-outs on Thursday. The miner said that a review into the Iron Bridge mine had upwardly revised the capital cost of the project... 

Former De Beers executive promotes commodities recycling for a strengthened circular economy

By: Donna Slater     17th February 2021 The mining value chain plays a vital role in sustaining a circular economy, says mining executive and former De Beers Botswana CEO Sheila Khama. She explains, during a video interview with Zambian mining lobby organisation Mining for Zambia, that because mineral resources are finite, closer... 

Rio u-turns on emissions as new CEO takes climate-change journey

By: Bloomberg     17th February 2021 Rio Tinto Group has set goals for lowering the greenhouse gas emissions of its customers, reversing an earlier stance that it has no control over how steelmakers use the iron ore it mines. Rio had been at odds with some of its biggest rivals amid a debate about who bears responsibility for Scope... 

Rio u-turns on emissions as new CEO takes climate-change journey

ARM expects headline earnings to more than double

By: Donna Slater     16th February 2021 JSE-listed diversified miner African Rainbow Minerals (ARM) reports that its headline earnings for the first half of its 2021 financial year are expected to increase by between 129% and 138%, to between R4.93-billion and R5.12-billion. This compares with the R2.15-billion in headline earnings... 

Rio Tinto explores low-carbon iron production in Canada

By: Mariaan Webb     16th February 2021 Global miner Rio Tinto has teamed up with two partners to explore the production of a low-carbon steel feedstock, using green hydrogen generated from hydro-electricity in Canada. The partnership, which also includes international engineering company Paul Wurth and European steelmaker... 

Rio Tinto's Iron Ore Company of Canada will supply high-grade iron-ore for the study.
Rio Tinto's Iron Ore Company of Canada will supply high-grade iron-ore for the study.

Heads roll at Fortescue

By: Esmarie Iannucci     16th February 2021 Iron-ore major Fortescue Metals has reported the immediate resignation of COO Greg Lilleyman as the company battles to contain costs at its Iron Bridge operation, in the Pilbara. Fortescue earlier confirmed that it was "reviewing" the cost and schedule of its $2.6-billion Iron Bridge magnetite... 

Iron-ore prices to trend lower in first six months of 2021

By: Tasneem Bulbulia     15th February 2021 The surge in iron-ore price between the second and fourth quarter of 2020 has run its course, says Fitch Solutions Country Risk and Industry Research. It notes that prices should grind lower during the first half of this year as supply improves and demand growth slows. 

Autonomous vehicles drive off at Chichester Hub

By: Esmarie Iannucci     15th February 2021 Iron-ore major Fortescue Metals has deployed autonomous light vehicles (ALVs) at its mining operations in the Chichester Hub. The company on Monday reported that the ALVs were developed by Fortescue’s Technology and Autonomy team as a solution to improve the efficiency of the Christmas Creek... 

Autonomous vehicles drive off at Chichester Hub

Major enters scandium market

12th February 2021 Diversified major Rio Tinto will become the first producer of high-quality scandium oxide in North America, with construction of a new commercial-scale demonstration plant underway at its Rio Tinto Fer et Titane (RTFT) metallurgical complex in Sorel-Tracy, Quebec. 

MULTIFACETED 
Scandium oxide is used to improve the performance of solid oxide fuel cells, which are used as a power source for data centres and hospitals, as well as in niche products such as lasers and lighting for stadiums or studios
MULTIFACETED Scandium oxide is used to improve the performance of solid oxide fuel cells, which are used as a power source for data centres and hospitals, as well as in niche products such as lasers and lighting for stadiums or studios

Positive progress at ‘mine of the future’

By: Halima Frost     12th February 2021 Global automation company ABB says operators at the Sustainable Underground Mining (SUM) future mine project, have been able to make use of new remote technological systems implemented by the company since September 2020. The SUM project aims to establish a new world standard for sustainable... 

SUM IT UP
The Sustainable Underground Mining future mine project sums up the aspirations of the mining sector in regards to sustainable mining
SUM IT UP The Sustainable Underground Mining future mine project sums up the aspirations of the mining sector in regards to sustainable mining

ArcelorMittal South Africa reports second-half profit as supply squeeze lifts prices 

By: Terence Creamer     11th February 2021 Steelmaker ArcelorMittal South Africa (AMSA) return to profit in the second half of its 2020 financial year on the back of steel-shortage-induced price rises that negatively affected many domestic downstream consumers and have led to growing calls for a lifting of import protection. The... 

ArcelorMittal South Africa reports second-half profit as supply squeeze lifts prices

V-shaped economic recovery to help surface miners recover, says economist

By: Donna Slater     9th February 2021 With signs of a V-shaped economic recovery, economist Dr Roelof Botha says the surface mining industry will recover in line with hard lockdown’s ending and increased demand for building materials. Speaking during a recent 250 member attended webinar on behalf of surface mining industry... 

Vale invests in company targeting carbon-free steel

By: Creamer Media Reporter      9th February 2021 Brazilian major Vale has acquired a minority stake in Boston Metal to promote the development of technology focused on steel decarbonisation. Boston Metal is a pre-operating company, founded in 2012 by professors from the Massachusetts Institute of Technology (MIT), whose objective is the... 

Reedy Lagoon eyes 'green iron'

By: Esmarie Iannucci     9th February 2021 Minerals explorer Reedy Lagoon Corporation has entered into an agreement with Dinsdale Consultants and Smelt Tech Consulting to establish  ‘green iron’ production in Western Australia. The ‘green iron’ production center would use the Rio Tinto-developed HIsmelt technology to smelt magnetite from... 

A new commodities boom beckons when pent-up demand is unleashed

By: Bloomberg     8th February 2021 The eventual end of the coronavirus pandemic is likely to herald a consumption boom, piling pressure on precarious supply chains and boosting raw material prices, according to the Merchant Commodity Fund. “There’s a huge amount of pent-up demand in the consumer pocket,” said Doug King, head of... 

Modernisation in South Africa will attract new investment, offer opportunities for industry 

By: Simone Liedtke     5th February 2021 Demonstrating that modernisation in South Africa is possible will attract new investment and offer opportunities for the mining industry, while simultaneously promoting the country as an attractive mining investment location, says Boston Consulting Group (BCG) MD and partner Tycho Mőnks. This... 

Tycho Mőncks
Boston Consulting Group (BCG) MD and partner Tycho Mőncks talks to Creamer Media's Simone Liedtke about the benefits of modernisation, and touches on the Covid-19 pandemic. Video: Recorded on Zoom. Editing: Creamer Media's Nicholas Boyd.

Iron-ore, gold and copper set export records

By: Esmarie Iannucci     5th February 2021 New data by the Australian Bureau of Statistics (ABS) has revealed record high export revenue from iron-ore, gold and copper in 2020. The ABS revealed that Australia’s resources exports, including minerals, metals and energy commodities in 2019 generated A$270 billion in export revenue for the... 

Iron-ore, gold and copper set export records

Vale signs $7bn settlement dispute over Brazil dam break

By: Bloomberg     5th February 2021 Vale reached a settlement agreement with Brazilian authorities for a dam collapse that killed 270 people and led to production cutbacks that stripped the company of the title of world’s biggest iron-ore producer. The agreement comes around the two-year anniversary of the Brumadinho disaster,... 

Vale signs $7bn settlement dispute over Brazil dam break

Iron-ore jumps over 5% as Brazil's Vale reports subdued 2020 output

By: Reuters     4th February 2021 Iron-ore futures leapt on Thursday, after Vale released lacklustre annual production figures, as the Brazilian mining giant struggled to boost output due to operational constraints as a result of the pandemic and a dam disaster two years ago. The 2019 deadly tailings dam collapse at Vale's... 

Iron-ore jumps over 5% as Brazil's Vale reports subdued 2020 output

Iron-ore future remains strong - MCA

By: Esmarie Iannucci     4th February 2021 Australia’s iron-ore is expected to remain a staple in the national economy, with a new report by the Minerals Council of Australia (MCA) forecasting that it would support growth, create jobs and sustain regional communities for many decades ahead of trading in a globally competitive market... 

Iron-ore future remains strong - MCA

Brazil's Vale seeks to draw line under rocky two years

By: Reuters     4th February 2021 Brazil's Vale said on Wednesday a multi-billion-dollar deal with authorities may be imminent and production may rebound this year, as the iron ore miner seeks to draw a line under two years dogged by sluggish production and complex legal negotiations. A dam containing mining waste burst in... 

Brazil's Vale seeks to draw line under rocky two years

Brazil's Bahia Mineracao starts production at iron-ore mine

By: Reuters     3rd February 2021 Brazilian miner Bahia Mineracao, a subsidiary of Kazakhstan's Eurasian Resources Group, started production at a mine in northeastern Brazil with expected 2021 output of one-million tonnes of iron-ore, its chief executive said on Tuesday. Bahia Mineracao plans to double output at the Pedra de... 

Samarco dam claimants to take BHP class action to UK Court of Appeal

By: Reuters     2nd February 2021 Lawyers for about 200 000 Brazilian claimants, whose £5-billion lawsuit against Anglo-Australian miner BHP over a 2015 dam collapse was struck out last November, are optimistic about going to the Court of Appeal. A High Court judge in Manchester refused on Friday to allow the claimants to appeal... 

Shaky iron market turns to Vale for final piece of supply puzzle

By: Bloomberg     2nd February 2021 With iron-ore at a crossroads, investors turn to Brazilian producer Vale for the final piece of the supply puzzle. Last month, BHP Group boosted its forecast for annual production, while Rio Tinto Group is also seeking to lift shipments of the steel-making ingredient this year. Vale -- the other... 

Shaky iron market turns to Vale for final piece of supply puzzle

‘We need exploration to grow our industry’ – Minerals Council  

By: Martin Creamer     1st February 2021 “We need exploration to grow our industry,” Minerals Council South Africa president Mxolisi Mgojo said on Monday during a virtual State of the Mining Nation media briefing in which he described exploration as one of the low-hanging fruits that could change South Africa’s economic trajectory in... 

Minerals Council South Africa president Mxolisi Mgojo
Minerals Council South Africa media brief reporting by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Vale extends settlement talks over mining disaster for 15 days

By: Reuters     1st February 2021 Brazilian iron-ore miner Vale said on Friday that it had extended talks with the Minas Gerais state government for 15 days, giving the two parties more time to reach a settlement over the 2019 Brumadinho disaster that killed some 270 people. 

Kyrgyzstan bans foreign companies from future mining projects

By: Reuters     29th January 2021 Kyrgyzstan on Friday banned foreign companies from future large mining projects, although existing licences are unaffected, in the first major order by its new president. The economy of the Central Asian nation relies heavily on gold mining, particularly after two other sources of wealth -... 

Centerra Gold is the largest foreign investor and mines gold at Kumtor. Existing licences are unaffected.
Centerra Gold is the largest foreign investor and mines gold at Kumtor. Existing licences are unaffected.

Fortescue reviewing Iron Bridge timing and cost

By: Esmarie Iannucci     29th January 2021 Iron-ore major Fortescue Metals this week confirmed that it was "reviewing" the cost and schedule of its $2.6-billion Iron Bridge magnetite project, in Western Australia. CEO Elizabeth Gaines told investors this week that Iron Bridge was progressing well with engineering now 90% complete, module... 

Good vibrations for the year ahead

By: Darren Parker     29th January 2021 Vibrating original-equipment manufacturer (OEM) Kwatani’s capital project pipeline is “exceptionally strong against the back-end of weak markets”, which Kwatani CEO Kim Schoepflin says is a result of time spent actively working with mining and project houses during the worst of the pandemic. For... 

KIM SCHOEPFLIN
The pandemic has not affected Kwatani’s business as negatively as originally expected
KIM SCHOEPFLIN The pandemic has not affected Kwatani’s business as negatively as originally expected

Contractor learns lockdown lessons

By: Darren Parker     29th January 2021 The main lesson learned over the past year is that, regardless of the challenges and new limitations brought about by the Covid-19 pandemic, good relationships are key to keeping businesses well-enthused and optimistic, says mining services company Basil Read Mining CEO Nathan Williams. “Even... 

BIG PLANS
Basil Read Mining aims to diversify beyond the commodities it currently works in, while expanding its geographical footprint
BIG PLANS Basil Read Mining aims to diversify beyond the commodities it currently works in, while expanding its geographical footprint

Anglo reports strong fourth-quarter performance at Los Bronces, Minas-Rio

By: Creamer Media Reporter      28th January 2021 The strong performance recovery in the second half of 2020 continued in the fourth quarter of the year, says diversified miner Anglo American CEO Mark Cutifani.  "As expected, second-half production returned to 95% of 2019 rates, benefiting from strong performances in copper at Los Bronces, in... 

Mark Cutifani
Mark Cutifani

Champion Iron to revise Kami feasibility study

By: Mariaan Webb     28th January 2021 Dual-listed Champion Iron will be reviewing and revising the feasibility study of the recently acquired Kami project, which is located only a few kilometers south-east of its current Bloom Lake operations. The revision of the Kami feasibility study will seek to strategically position Champion... 

Champion Iron in November acquired the Kami project, located in the Labrador Trough of Newfoundland.
Champion Iron in November acquired the Kami project, located in the Labrador Trough of Newfoundland.

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... 

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

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
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