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Ferrous Metals News

Global gold mining major highlights academic partnership with South Africa’s Fort Hare 

By: Martin Creamer     21st June 2024 The University of Fort Hare, where the offspring of mineworkers were the first graduates, has agreed a R12.5-million, initial ten-year academic partnership with gold mining major AngloGold Ashanti, which no longer mines in this country and is now domiciled in London. Fort Hare is the university... 

China Baowu completes purchases of stake at Simandou project

By: Bloomberg     21st June 2024 China Baowu Steel Group has completed its purchase of a stake in the Simandou project in Guinea, as China’s top steelmaker looks to expand its interest in the world’s largest untapped iron ore mine. Baowu bought an undisclosed stake from Winning Consortium Simandou, which owns the two northern... 

China Baowu completes purchases of stake at Simandou project

South Africa now a compelling world investment story, upbeat Orion highlights 

By: Martin Creamer     19th June 2024 “The sun is finally shining on us,” an upbeat Orion Minerals CEO Errol Smart enthused during an Australia/South Africa webinar on Wednesday, when he outlined how South Africa has become one of the world’s most compelling short-term investment stories. Predicting that this country's investment... 

Errol Smart
Orion Minerals webinar covered by Mining Weekly's Martin Creamer. Video: Darlene Creamer

MinRes to shut Yilgarn iron-ore mine

By: Mariaan Webb     19th June 2024 Diversified miner Mineral Resources (MinRes) will shut its Yilgarn iron-ore mine, in Western Australia’s Goldfields region, at the end of the year. The decision, announced on Wednesday, follows an assessment that confirmed that it was not financially viable for the hub to continue beyond the... 

MinRes to shut Yilgarn iron-ore mine

US-based Capital Group sells Fortescue shares worth A$734m

By: Reuters     19th June 2024 US-based investment management firm Capital Group Companies has sold shares worth A$733.9-million in Australian miner Fortescue, according to an exchange filing on Wednesday. The announcement came after the Australian Financial Review reported on Tuesday that an institutional investor had sold... 

Fortescue is the world's fourth-biggest iron-ore miner
Fortescue is the world's fourth-biggest iron-ore miner

BCI sells Iron Valley to MinRes for A$73m

By: Creamer Media Reporter      14th June 2024 Resources company BCI will sell the Iron Valley iron-ore mine, in the Pilbara, to Polaris Metals, a subsidiary of ASX-listed Mineral Resources (MinRes). Iron Valley is currently operated by MinRes under a royalty-type agreement for the past decade. 

BCI sells Iron Valley to MinRes for A$73m

Vale expects tentative dam collapse settlement with Brazil authorities this month

By: Reuters     14th June 2024 Brazilian miner Vale expects to reach a tentative agreement by the end of this month with Brazilian federal and state authorities to settle reparations over the deadly 2015 collapse of a tailings dam, an executive said on Thursday. The Mariana dam collapse caused a wave of toxic tailings that... 

China steel demand plateaus at a decent level, Vale’s boss says

By: Bloomberg     14th June 2024 Chinese steel demand “has definitely plateaued” due to property woes, though the Asian nation’s appetite for the material is still at a “decent level,” said the head of the world’s second-largest iron-ore producer. Vale SA CEO Eduardo Bartolomeo said Thursday during an investment conference that... 

Vale CEO Eduardo Bartolomeo
Vale CEO Eduardo Bartolomeo

Mining production rose by a modest 0.7% y/y in April

By: Sabrina Jardim     13th June 2024 Mining production rose by a modest 0.7% in April, after declining by -4.8% year-on-year – revised from -5.8% year-on-year – in March, data published by Statistics South Africa (Stats SA) shows. Commenting on the statistics, Investec economist Lara Hodes says output was weaker than consensus... 

South32’s Samancor Manganese to sell Metalloys smelter to South African company

By: Tasneem Bulbulia     13th June 2024 South32 subsidiary Samancor Manganese has entered into a binding agreement for the sale of the Metalloys manganese alloy smelter, in Gauteng, to Khwelamet, an entity jointly owned by Menar and Ntiso Investing Holdings. Completion of the transaction is subject to certain conditions, including... 

An image showing the Metalloys manganese alloy smelter
Metalloys manganese alloy smelter

Zimbabwe’s ferrochrome miners agree to build power plants

By: Bloomberg     13th June 2024 Zimbabwe’s ferrochrome miners, the nation’s biggest electricity consumers, have agreed to build their own power plants over the next two years as the government seeks to balance energy demand. Under the agreement, ferrochrome producers will in the meantime pay electricity tariffs that are little... 

New iron-ore exporter for Port of Esperance

By: Mariaan Webb     13th June 2024 The Port of Esperance, in Western Australia, is set to increase its iron-ore trade by 1.5-million tonnes a year, following a new agreement announced by Ports Minister David Michael. Gold Valley Iron Ore has secured access to essential iron-ore infrastructure at the port, marking the first time a... 

New iron-ore exporter for Port of Esperance

Fortescue loses another senior leader

By: Bloomberg     13th June 2024 Fortescue has confirmed the resignation of its director of global growth, Julie Shuttleworth, who previously served as group deputy chief executive and CEO of the green energy division. Shuttleworth first joined the Australian iron-ore miner in 2013. She became deputy CEO of the company in 2018,... 

Julie Shuttleworth
Julie Shuttleworth

Reserve Bank concern about decline of public markets welcome development – Miller  

By: Martin Creamer     12th June 2024 The concern that South Africa’s Reserve Bank expressed last week on the state of this country’s public markets is seen as a welcome development by AmaranthCX director and public market promoter Paul Miller. Everything the Johannesburg Stock Exchange (JSE) has done has not been enough to change... 

AmaranthCX director Paul Miller.
AmaranthCX director Paul Miller interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Forget copper and gold as steelmaking manganese outperforms

By: Bloomberg     12th June 2024 Manganese, an essential steel-making ingredient, has outstripped copper, gold and many other commodities this year after a cyclone halted exports from the world’s second-largest mine in March. Prices of 44% grade manganese ore have almost doubled since the start of the year, beating gains of 15%... 

Supply constraints and elevated prices will continue until Gemco (pictured) is brought back on line.
Supply constraints and elevated prices will continue until Gemco (pictured) is brought back on line.

Western Australia resolves mining imbroglio threatening licences

By: Bloomberg     12th June 2024 Western Australia’s government has approved draft legislation that will ensure the security of mining licenses and permits in the state, a major producer of iron-ore. The legislation, to be passed retrospectively, will resolve a High Court of Australia ruling in 2017 that theoretically almost... 

Western Australia resolves mining imbroglio threatening licences

E25 explores Butcherbird restart amid record high manganese ore prices

By: Mariaan Webb     11th June 2024 Australia’s Element25 is investigating the potential restart of operations at the Butcherbird manganese project in Western Australia to capitalise on the recent surge in manganese ore prices. Prices have escalated following disruptions at South32’s Groote Eylandt (Gemco) operations in the... 

E25 explores Butcherbird restart amid record high manganese ore prices

Canadian miner one step closer to commercialise high-purity, EV-compliant manganese

By: Creamer Media Reporter      10th June 2024 TSX-V-listed Manganese X Energy’s high-purity manganese (HPMSM) sample has met US battery manufacturer C4V’s Phase 1 commercial level qualification compliance standards for the electric vehicle (EV) battery cathode and is moving to the next round of testing. "Achieving this milestone brings us... 

Minerals Council calls for collaborative relationship among govt, labour, civil society and the private sector

By: Creamer Media Reporter      10th June 2024 As political parties discuss the way forward in establishing a government of national unity, the Minerals Council South Africa says it and its members are advocating for a constructive, collaborative and trusting relationship among government, labour, civil society and the private sector to... 

Minerals Council South Africa CEO Mzila Mthenjane
Minerals Council South Africa CEO Mzila Mthenjane

World Hydrogen alerted to benefit of South Africa’s zero-emission hydrogen haul truck 

By: Martin Creamer     7th June 2024 One hydrogen haul truck eliminates the deleterious carbon emissions of the equivalent of 700 cars, First Mode global hydrogen sourcing director James Betts highlighted during this week’s World Hydrogen Australia webinar, where he spoke of the need for the hydrogen haul trucks to be conceived as... 

South Africa pioneered hydrogen haul truck.
South Africa pioneered hydrogen haul truck.

Brazil seeks $20.7bn from Vale, BHP over 2015 dam collapse

By: Reuters     7th June 2024 Brazil's government presented on Thursday a counteroffer requesting that miners Vale and BHP and their joint venture Samarco pay 109-billion reais ($20.74-billion) as reparations for a tailings dam collapse in 2015. The proposal is higher than a previous offer from the miners to pay the federal... 

Ironveld assessing options amid financing hiccup

By: Creamer Media Reporter      6th June 2024 London-listed Ironveld, which owns a high-purity iron, vanadium and titanium project on the northern limb of the Bushveld Complex, in Limpopo, South Africa, says it is assessing its options as it may not be able to secure the funding it was previously expecting to close by the first half of this... 

NUM concludes five-year wage agreement with South32's Hotazel Manganese Mines

By: Creamer Media Reporter      6th June 2024 The National Union of Mineworkers (NUM) Kimberley Region has concluded and signed a five-year wage agreement on behalf of its members at globally diversified mining and metals company South 32’s Hotazel Manganese Mines, in the Northern Cape. The union says the parties agreed to the harmonisation... 

A mineworker wearing an NUM T-shirt and overalls

MinRes sells stake in Onslow Iron haul road for A$1.3bn

By: Creamer Media Reporter      5th June 2024 ASX-listed Mineral Resources (MinRes) on Wednesday announced a binding agreement to sell a 49% interest in the Onslow Iron project’s dedicated haul road to Morgan Stanley Infrastructure Partners for A$1.3-billion. The Onslow Haul road is a key component of the transportation infrastructure... 

MinRes sells stake in Onslow Iron haul road for A$1.3bn

First call applications for R400m junior mining exploration fund close July 12

By: Martin Creamer     4th June 2024 The first call applications for the R400-million junior mining exploration fund (JMEF) close on July 12. This was stated on Tuesday in a media release issued by the Department of Mineral Resources and Energy (DMRE), in partnership with the Council for Geoscience (CGS) and the Industrial... 

Need for quick exploration activity.
Unless exploration increases fast, the vital mining economy will shrink.

Rio Tinto invests $143m in low-carbon ironmaking R&D facility

By: Creamer Media Reporter      4th June 2024 Mining giant Rio Tinto has announced a $143-million investment to establish a research and development (R&D) facility in Western Australia to test the effectiveness of its low-carbon ironmaking process, BioIron. The development of the new BioIron R&D facility, located in the Rockingham Strategic... 

Rio Tinto Iron Ore CEO Simon Trott
Rio Tinto Iron Ore CEO Simon Trott

Volvo to issue world's first EV battery passport ahead of EU rules

By: Reuters     4th June 2024 Volvo Cars is launching the world's first EV battery passport recording the origins of raw materials, components, recycled content and carbon footprint for its flagship EX90 SUV, which is about to start production, the Swedish automaker told Reuters. The passport was developed by Volvo, which is... 

The Volvo logo on a vehicle

GDP decreased by 0.1% in the first quarter

By: Creamer Media Reporter      4th June 2024 South Africa’s GDP decreased by 0.1% in the first quarter of this year, Statistics South Africa reports. The manufacturing industry decreased by 1.4% in the first quarter, contributing -0.2 of a percentage point to the negative GDP growth. Five of the ten manufacturing divisions reported negative... 

A farm in South Africa

BHP faces a test of patience after $49bn Anglo bid falters

By: Bloomberg     4th June 2024 Days after BHP Group failed to secure the $49-billion takeover of smaller rival Anglo American, investors have one message for CEO Mike Henry — keep your cool. BHP argues it showed restraint in the battle for Anglo, a welcome attribute in a sector notorious for burning billions of dollars of on... 

BHP CEO Mike Henry
BHP CEO Mike Henry

South Korea's Yoon hosts Africa summit to tap minerals, vast export market

By: Reuters     3rd June 2024 Africa's rich mineral resources and its potential as a vast export market are at the top of South Korea's agenda as it hosts a summit with the leaders of 48 nations this week with plans for aid on industrial infrastructure and digital transformation. Africa is a "crucial partner" for South Korea... 

Iron-ore tumbles to lowest in six weeks on China demand concerns

By: Bloomberg     3rd June 2024 Iron-ore dropped to the lowest level in more than six weeks on worries over the outlook for Chinese demand, which has been hammered by the protracted property crisis. China’s housing slump is now in its third year, weighing on the world’s second-largest economy and exacerbating a liquidity... 

Iron-ore tumbles to lowest in six weeks on China demand concerns

Marula signs offtake agreement with Fujax for Larisoro manganese

By: Darren Parker     31st May 2024 AQSE-listed Marula Mining has signed a sales and offtake agreement with UK-based commodities trading group Fujax for manganese ore production from the Larisoro manganese mine in Samburu, Kenya. The agreement is for an initial 2 000 t of manganese ore, which is to be delivered by no later than... 

Marula CEO Jason Brewer
Marula CEO Jason Brewer

Champion Iron reports higher profit

By: Mariaan Webb     31st May 2024 Quebec iron-ore miner Champion Iron has reported a robust revenue and net income performance for the year ended March 31, 2024. Despite facing challenges due to lower selling prices and logistical issues, the company achieved significant financial growth. The ASX- and TSX-listed company... 

Champion Iron reports higher profit

Anglo starts formal divestment of coal, nickel after rebuffing BHP, CEO says

By: Reuters     30th May 2024 Anglo American is starting a formal process to sell its coal assets and explore options for its nickel operations after fending off a takeover threat from bigger rival BHP Group, CEO Duncan Wanblad said on Thursday. The Anglo CEO faces pressure from investors to boost the company's value by... 

Anglo American CEO Duncan Wanblad
Anglo American CEO Duncan Wanblad

Sibanye clinches yet another renewable energy purchase agreement 

By: Martin Creamer     30th May 2024 Johannesburg- and New York-listed Sibanye-Stillwater has concluded its fourth renewable energy power purchase agreement (PPA). The green metals and gold producer has reached financial close for an additional 140 MW wind energy project, the Umsinde Emoyeni Wind Farm, located on the border between... 

Sibanye-Stillwater secures fourth power purchase agreement.
Sibanye-Stillwater secures fourth power purchase agreement.

Marula confirms series of local contracts for Kenyan operations

By: Darren Parker     30th May 2024 AQSE-listed Marula Mining has confirmed that the agreements which extend over all the company’s key operations activities at the Larisoro manganese mine, in Kenya, have been executed with several Kenya-based service providers. These agreements include contracts for the drilling and blasting of... 

Investors relieved BHP walked from Anglo takeover deal

By: Reuters     30th May 2024 nvestors welcomed BHP Group's decision to walk away from a $49-billion plan to take over its rival Anglo American, which rejected three proposed offers from the top global miner over the past six weeks. While BHP's Australian-listed shares fell 1.6% on Thursday, they were in line with its peers. 

Investors relieved BHP walked from Anglo takeover deal

BHP walks away from $49bn pursuit of mining rival Anglo

By: Reuters     29th May 2024 Mining group BHP Group on Wednesday walked away from its $49-billion plan to take over rival Anglo American, which rejected a last-ditch request for more time, ending for now its six-week pursuit. BHP's aim was to secure Anglo's prized copper assets in Latin America and increase access to a... 

BHP CEO Mike Henry
BHP CEO Mike Henry
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