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Iron Ore News

Integration of Vale’s Serpentina resource has potential to expand Anglo’s Minas-Rio output

By: Darren Parker     22nd February 2024 Diversified miner Anglo American has agreed to acquire, from Brazilian iron-ore miner Vale, the high-quality Serra da Serpentina iron-ore resource and integrate it into its contiguous Minas-Rio mine. Anglo will continue to control, manage and operate the Minas-Rio operation, including any future... 

Rio Tinto board approves Simandou investment

By: Mariaan Webb     22nd February 2024 The board of Rio Tinto has given the nod to the Simandou iron-ore project, in Guinea, CEO Jakob Stausholm has revealed. The approval is contingent on meeting outstanding conditions, including securing approvals from joint venture partners and obtaining regulatory nods from China and Guinea.  

Simandou’s high-grade, low impurity formation is a rare opportunity for Rio Tinto to diversify its portfolio, particularly as demand increased for grade suitable for greener steel.

Fortescue beats on first-half profit, posts strong dividend

By: Reuters     22nd February 2024 Australia's Fortescue on Thursday posted a 41% jump in its half-year profit and declared a better-than-expected dividend, supported by strong iron-ore shipments and higher prices for its lower grades of the steel-making raw material. Imports to China, the world's largest iron-ore consumer, hit a... 

Fortescue beats on first-half profit, posts strong dividend

Australian iron-ore port starts clearing ships ahead of cyclone

By: Bloomberg     22nd February 2024 A major port on Australia’s west coast used by Rio Tinto Group to export iron-ore has started clearing ships from the harbor ahead of a cyclone that’s expected to form early Friday. All port anchorages are expected to be cleared at Dampier at 6 p.m. local time, according to a statement late... 

Australian iron-ore port starts clearing ships ahead of cyclone

Mt Gibson makes big profit jump on strong Koolan Island performance

By: Creamer Media Reporter      21st February 2024 Iron-ore miner Mount Gibson on Wednesday reported an aftertax net profit of A$138.7-million in the half-year to December 31, compared with A$7.4-million in the corresponding period. The significantly increased earnings reflected strong operational improvement and record half-yearly high-grade... 

Mozambique port critical to chrome exports gets upgraded railway link

By: Bloomberg     21st February 2024 The biggest port in Mozambique that’s become a key hub for global chrome exports will upgrade a railway link, bolstering a planned $2-billion capacity expansion. The African Development Bank is financing the purchase of $40-million of locomotives and wagons and another $30-million is under... 

A rail line in South Africa

Rio Tinto posts lower FY profit

By: Mariaan Webb     21st February 2024 Diversified mining major Rio Tinto CEO Jakob Stausholm on Wednesday reported “resilient” financial results for 2023, with free cash flow of $7.7-billion and underlying earnings of $11.8-billion. Balance sheet strength enabled Rio Tinto to invest with disciple, while also playing an ordinary... 

Rio Tinto CEO Jakob Stausholm
Rio Tinto CEO Jakob Stausholm

Kumba weathers headwinds but 490 jobs at risk as it reconfigures business

By: Tasneem Bulbulia     20th February 2024 Anglo American subsidiary Kumba Iron Ore delivered solid operational and financial results for the year ended December 31, 2023, despite macroeconomic challenges; however, about 490 jobs could be at risk owing to a proposed reconfiguration to mitigate the logistics challenge, CEO Mpumi Zikalala... 

An image of Kumba Iron Ore CEO Mpumi Zikalala
CEO Mpumi Zikalala

Tsodilo confirms subsidiary can proceed with PEA in Botswana following litigation

By: Marleny Arnoldi     20th February 2024 TSX-V-listed Tsodilo Resources has confirmed that its subsidiary Gcwihaba Resources can proceed with concluding a preliminary economic assessment (PEA) on a prospecting licence, in Botswana, following legal delays. The High Court of Botswana in December ordered the Minister of Minerals and Energy... 

Worst of inflationary wave over, says BHP CEO

By: Mariaan Webb     20th February 2024 Diversified mining group BHP CEO Mike Henry has expressed confidence in a more favourable economic outlook for 2024, declaring that the worst of the global inflationary wave is over. BHP, which on Tuesday reported flat first-half underlying profit of $6.6-billion, is witnessing a shift towards a... 

BHP CEO Mike Henry
BHP CEO Mike Henry

Iron-ore slumps as demand doubts persist with China’s reopening

By: Bloomberg     19th February 2024 Iron-ore tumbled following a five-day run of gains as China’s markets reopened, with investors weighing prospects for near-term steel demand in the world’s largest importer. Futures dropped from the highest close since the end of January, slumping as much as 3.3% to pare most of last week’s... 

Administrators appointed for troubled Elmore

By: Mariaan Webb     19th February 2024 Restructuring pundit KordaMentha said on Monday that it had been appointed as receivers and managers of each of the companies that fall under the Elmore umbrella. Elmore is an ASX-listed contract mineral processing company, which also owns the Peko magnetite mine in the Northern Territory. 

Vale to follow BHP on new provisions over dam failure, analysts say

By: Reuters     15th February 2024 Brazilian miner Vale is expected to hike its provisions after BHP Group flagged a $3.2-billion impairment related to the failure of a dam operated by their joint venture Samarco, analysts said. The collapse of the tailings dam in the Brazilian southeastern city of Mariana in 2015 caused a giant... 

The collapse of the tailings dam in Mariana in 2015 caused a mudslide that killed 19 people and severely polluted the Rio Doce river.
The collapse of the tailings dam in Mariana in 2015 caused a mudslide that killed 19 people and severely polluted the Rio Doce river.

EIB in talks with South Africa over loan for ports, freight rail

By: Bloomberg     15th February 2024 The European Investment Bank (EIB) said it’s in talks to loan South Africa money to upgrade its port and freight-rail infrastructure as its first contribution to a decarbonization pact known as the Just Energy Transition Partnership. The loan, the size of which the EIB didn’t disclose, is part of... 

Locomotives owned by Transnet Freight Rail

Power aggregators seen as key accelerators of South African mining’s energy transition  

By: Martin Creamer     13th February 2024 Many energy projects selling to one buyer, who in turn sells to many mines – this procurement model is seen as a key financial tool to accelerate the energy transition of South Africa’s mining industry. “We think the aggregator model can really accelerate the requirements of the mines to get... 

Nedbank CIB) Energy Finance Co-Head Amith Singh.
Nedbank CIB Energy Finance Co-Head Amith Singh interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Empty Rio Tinto iron ore train derails in Western Australia

By: Reuters     13th February 2024 A self-driving train derailed at Rio Tinto's iron-ore operations in Western Australia, the world's biggest iron-ore miner said on Tuesday. A Rio Tinto spokesperson said the derailment involving an unloaded train with about 38 wagons had occurred at about 6 p.m. (1000 GMT) on Sunday. 

Partnership positions Port Pirie as future green iron hub

By: Mariaan Webb     13th February 2024 As the global steel industry moves to decarbonise, iron-ore miner Magnetite Mines has partnered with Port Pirie to position the South Australian port as a future green iron production hub. Green iron hubs typically incorporate the use of high-grade iron-ore, such as magnetite concentrates, which... 

Mayor Leon Stephens and Magnetite Mines CEO Tim Dobson signed memorandum of understanding on Tuesday.
Mayor Leon Stephens and Magnetite Mines CEO Tim Dobson signed memorandum of understanding on Tuesday.

Permanent aerial mesh support, exoskeletons under scrutiny to make mining safer 

By: Martin Creamer     9th February 2024 Minerals Council South Africa is looking at the possibility of promoting permanent aerial mesh support throughout the mining industry as part of its fall-of-ground action plan. The Minerals Council has a robust fall-of-ground action plan that targets several dimensions of the biggest contributor... 

Minerals Council CEO Mzila Mthenjane flanked by Japie Fullard (left) and Dushendra Naidoo (right).
Minerals Council CEO Mzila Mthenjane flanked by Japie Fullard (left) and Dushendra Naidoo (right).

Mining industry sustainability hinges on energy, logistics reforms, Minerals Council stresses

By: Schalk Burger     9th February 2024 The sustainability of the South African mining industry and its ability to play a meaningful and positive role in society and the economy are dependent on urgent and extensive structural reforms in the energy and logistics sectors, mining industry organisation the Minerals Council South Africa... 

Minerals Council CEO Mzila Mthenjane
Minerals Council CEO Mzila Mthenjane

Vale and Hydnum Steel to study building briquette plant in Spain

By: Reuters     9th February 2024 Brazilian miner Vale and newcomer Hydnum Steel have signed a memorandum of understanding to study building an iron-ore briquette plant at Hydnum Steel's first factory in Spain, which will be powered by "green" hydrogen. Hydnum Steel was recently created to be one of the first steelmakers in... 

Australian iron-ore giants partner on steel decarbonisation

By: Mariaan Webb     9th February 2024 Australia’s two biggest iron-ore producers and its biggest steelmaker have announced a partnership to accelerate the decarbonisation of steelmaking by agreeing to jointly investigate the development of the country’s first ironmaking electric smelting furnace (ESF) pilot plant. Rio Tinto, BHP and... 

From left to right: BHP's Tim Day, Bluescope's Tania Archibald and Rio Tinto's Simon Trott
From left to right: BHP's Tim Day, Bluescope's Tania Archibald and Rio Tinto's Simon Trott

Transnet problems force Kumba to moderate output

By: Darren Parker     8th February 2024 Anglo American subsidiary Kumba Iron Ore CE Mpumi Zikalala has reiterated that State-owned Transnet’s rail performance challenges have placed so much pressure on Kumba’s value chain that the company has had to moderate its production rates. Following the completion of the yearly logistics... 

Transnet train transporting iron ore

Anglo’s fourth-quarter production in line with expectations despite rail constraints

By: Tasneem Bulbulia     8th February 2024 Diversified miner Anglo American’s production for the fourth quarter ended December 31, 2023, was in line with expectations and in line with production in the third quarter, despite the deliberate slowdown at its South African iron-ore operations to help draw down stock levels in response to poor... 

An image of Anglo American CE Duncan Wanblad
Duncan Wanblad

Aboriginal group to inspect rock shelters for potential Rio Tinto damage

By: Reuters     8th February 2024 An Aboriginal group from Western Australia's iron ore producing region will inspect an important cultural site in the coming days after it received a notice from Rio Tinto of possible damage, the group's chief executive said. Rio's destruction of rock shelters at Juukan Gorge in 2020 prompted a... 

Aboriginal group to inspect rock shelters for potential Rio Tinto damage

Gabon iron-ore developer Genmin seeks to raise A$28m

By: Creamer Media Reporter      7th February 2024 Emerging African iron-ore producer Genmin on Wednesday kicked off a fundraising for about A$28.4-million to advance its Baniaka project, in Gabon. This comes as the company was recently awarded a 20-year mining permit for Baniaka, which will be developed at an initial rate of five-million tonnes... 

Crucial to combine agricultural development with mining, Indaba hears 

By: Martin Creamer     7th February 2024 Africa is going to have a huge amount to do to help solve the world’s climate change problems, Toronto-listed Ivanhoe Mines executive chairperson Robert Friedland emphasised in his far-reaching thirtieth address to the thirtieth Investing in African Mining Indaba in Cape Town. In those 30... 

Ivanhoe Mines executive chairperson Robert Friedland.
Photo by Creamer Media
Ivanhoe Mines executive chairperson Robert Friedland.

Vedanta focused on becoming ESG leader 

7th February 2024 Good governance and sustainable development are at the core of diversified global natural resources and technology conglomerate Vedanta Group's strategy, with a strong focus on health, safety and environment, and on enhancing the lives of local communities. The group is focused on becoming the... 

Vedanta focused on becoming ESG leader

Anglo's Minas-Rio, Barro Alto mines complete IRMA audit; more mines to follow

By: Creamer Media Reporter      7th February 2024 Diversified miner Anglo American’s Minas-Rio iron-ore and Barro Alto nickel mines, in Brazil, have been assessed against the Initiative for Responsible Mining Assurance's (IRMA’s) comprehensive mining standard, achieving an IRMA 75 level of performance. The IRMA's Standard for Responsible Mining... 

The Minas-Rio mine
The Minas-Rio mine

Noise-induced hearing loss now highest priority mining health condition, Indaba hears 

By: Martin Creamer     6th February 2024 Noise-induced hearing loss has displaced tuberculosis (TB) and silicosis as the top priority health threat in the South African mining industry. “I’m emphasising noise-induced hearing loss because the other diseases have gone down markedly whereas noise-induced hearing loss has not gone down as... 

From left Minerals Council South Africa’s Sietse van der Woude, Dr Thuthula Balfour, Japie Fullard, Mzila Mthenjane and Dushendra Naidoo.
From left Minerals Council South Africa’s Sietse van der Woude, Dr Thuthula Balfour, Japie Fullard, Mzila Mthenjane and Dushendra Naidoo.

Sable Mining, IPace agree additional funding for DMS beneficiation plant

By: Tasneem Bulbulia     6th February 2024 JSE-listed Sable Exploration and Mining’s subsidiary Sable Platinum Holdings (SPH) and IPace on February 2 entered into a term sheet for additional funding of R1-million payable by SPH for a dense medium separation (DMS) beneficiation plant. The follows SPH’s announcement in September that it had... 

Anglo CEO says he can run sprawling miner better than any activist

By: Bloomberg     6th February 2024 Anglo American’s boss said he’s the best person to reshape the century-old miner — if needed — as slumping commodity prices pressure its sprawling operations and spark murmurs about activist intervention. The company stunned shareholders in December when it announced deep production cuts to... 

Duncan Wanblad
Duncan Wanblad

Bloom Lake unionised workers vote for strike mandate

By: Mariaan Webb     6th February 2024 Unionised employees at the Bloom Lake mine, in Canada, have rejected Champion Iron’s proposed terms towards a new collective bargaining agreement (CBA) and voted in favour of a strike action mandate, the dual-listed company reported on Monday. The unionised workers are represented by the Syndicat... 

The Bloom Lake mine in Quebec, Canada.
The Bloom Lake mine in Quebec, Canada.

Anglo CEO urges resilience, partnerships amid global disruptions

By: Shannon de Ryhove     6th February 2024 Multinational mining company Anglo American is focusing on partnerships with its host nations to grow the mining industry and remain resilient through disruptions, said CEO Duncan Wanblad during his keynote address on the first day of the Cape Town-based Investing in African Mining Indaba 2024.... 

Anglo American CEO Duncan Wanblad
Photo by Bloomberg
Anglo American CEO Duncan Wanblad

South Africa’s mining industry now 39% black-owned, Mining Indaba hears 

By: Martin Creamer     5th February 2024 In 2004, the year South Africa’s far-reaching Mining Charter was first introduced, black ownership in South Africa’s globally recognised mining industry stood at a negligible 2%. This has now leapt nearly 20 times higher to approximately 39%, South Africa President Cyril Ramaphosa highlighted in... 

President Cyril Ramaphosa at the Mining Indaba.
President Cyril Ramaphosa at the Mining Indaba.

Clear commitment to reform implementation needed in SoNA – Mavuso

By: Schalk Burger     5th February 2024 Business organisation Business Leadership South Africa (BLSA) CEO Busi Mavuso has urged President Cyril Ramaphosa to show a clear commitment to the hard work of reform implementation during his State of the Nation Address (SoNA) on Thursday evening. South Africa's electricity crisis remains a... 

Locomotives operating on Transnet Freight Rail's rail lines

Guinea lawmakers approve JV for Simandou iron-ore development

By: Bloomberg     5th February 2024 Guinea’s National Transition Council approved a joint venture between Rio Tinto, China-backed Winning Consortium Simandou and the government that seeks to develop the world’s biggest untapped iron ore reserve. The council, which is the equivalent of a parliament body in the West African nation,... 

The Simandou mine area

Western miners lag as oil powers enter race for Africa's critical metals

By: Reuters     2nd February 2024 Risk aversion is likely to leave major Western miners lagging in a race to tap Africa's reserves of critical raw materials that has gathered pace now Middle Eastern oil powers have begun to emulate China's years of investment on the continent. Attracting the capital needed to advance copper,... 

Copper sheets produced in the DRC

Former NT Minister quits Fortescue

By: Mariaan Webb     2nd February 2024 Former Northern Territory chief Minister Michael Gunner has resigned from Fortescue Future Industries (FFI), citing personal reasons. Announcing his decision, Gunner said that working for the iron-ore and green energy group meant more travel away from Darwin and the family, which he had found... 

Former NT Minister quits Fortescue
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