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LME ready to address flaws in its metal storage rules

By: Reuters     18th April 2019 The London Metal Exchange is poised to deal with a loophole in its warehousing rules, exposed after commodity trader Glencore bought large amounts of aluminium earlier this year, sources familiar with the matter said. But the exchange will have to wait until a complaint lodged by Glencore with... 

Fitch warns iron-ore price increase may be ‘more structural’ than initially thought

By: Simone Liedtke     18th April 2019 The sharp rise in iron-ore prices to over $90 per dry metric ton (dmt) from under $75/dmt since January, may be “more structural than initially anticipated”, says Fitch Ratings. It believes sustained iron-ore prices of above $85/dmt over the next 9 to 12 months should provide cash flow windfalls... 

Mick Davis moves closer to iron-ore mining with Liberian deal  

By: Bloomberg     18th April 2019 Mining dealmaker Mick Davis has won permission to export iron-ore from a planned mine in West Africa, adding momentum to the industry veteran’s comeback. Davis, through his new Niron Metals vehicle, has signed an agreement with Liberia that will allow him to use a rail and port to export iron-ore... 

Finniss DFS confirms financials - Core

By: Esmarie Iannucci     17th April 2019 A definitive feasibility study into the Finniss lithium project, in the Northern Territory, has estimated that it would require a capital investment of A$73-million. ASX-listed Core Lithium on Wednesday reported that the one-million tonne a year openpit operation would produce up to 180 000 t/y... 

Flood-damaged Mt Isa zinc railway to reopen April 29

By: Reuters     16th April 2019 A railway that carries zinc from major producers such as Glencore across Australia's Outback is expected to reopen this month, Queensland's Transport Minister said on Tuesday. "Every resource has been made available to accelerate recovery works," Mark Bailey said in a statement. 

Rio Tinto cuts iron-ore guidance after challenging start to 2019

By: Mariaan Webb     16th April 2019 The year has started with “several challenges” for diversified mining group Rio Tinto’s iron-ore business, resulting in the major downgrading its guidance for 2019. Pilbara shipments are now expected to be between 333-million and 343-million tonnes for the year, compared with the previous... 

MC signs coal offtake agreement for Makhado thermal coal 

By: Creamer Media Reporter      16th April 2019 ASX-, Aim- and JSE-listed MC Mining's Limpopo Coal Company subsidiary has entered into a sale and purchase agreement with one of the world's largest producers and marketers of bulk commodities for the offtake of export quality thermal coal to be produced during Phase 1 of the Makhado project, in... 

Chinese miner MMG says Peru's mine supplies restored, concentrate transport recommenced

By: Reuters     15th April 2019 Chinese miner MMG Ltd said on Monday that Las Bambas mine in Peru has progressively restored critical supplies and increased staffing levels over last week after indigenous communities ended a more than two-month blockade of a key highway. Concentrate transport to Matarani Port recommenced on... 

Woodside opens LNG truck loading facility at Pluto

By: Esmarie Iannucci     12th April 2019 Oil and gas major Woodside has opened a new liquefied natural gas (LNG) truck loading facility at the Pluto LNG project, in Western Australia. Following the completion of the commissioning activities, the facility will deliver seven LNG truck loadings a day, each transporting 80 000 l of diesel.... 

Gold Fields declares maiden reserve at Salares Norte, targets first gold in 2023 

By: Marleny Arnoldi     10th April 2019 Gold Fields earlier this year completed a definitive feasibility study (DFS) on its Salares Norte project, in Chile, South America, which enabled the company to declare a maiden reserve for the project. The company started exploration on the prospect in March 2011, with drilling to date... 

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