Otmane El Rhazi : Mining, independence at stake as Greenland goes to the polls

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NUUK/COPENHAGEN – Greenlanders go to the polls on Friday with hopes for a mineral-rich independence from Denmark foundering on the reality of a tiny, shrinking economy. The fall of premier Aleqa Hammond last month in an expense scandal has muted the nationalist rhetoric that promised independence based on wealth from some of the largest mineral deposits on earth.

Otmane El Rhazi : Fortescue halves capex for 2015

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Iron-ore major Fortescue Metals has halved its capital expenditure expectations for the 2015 financial year from $1.3-billion to $650-million. The miner said on Friday that the reduction in planned spend for 2015 was consistent with Fortescue’s ongoing focus on delivering operational efficiencies and reducing costs in order to maximise shareholder value.

Otmane El Rhazi : Competition Commission recommends approval of Anglo American, Samancor transaction

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The Competition Commission on Thursday recommended the approval of the merger that would see mining major Anglo American gain joint control over chrome-ore mining and smelting group Samancor, without conditions. Anglo American already held a 40% stake in Samancor, with mining company BHP Billiton holding the remainder; however, BHP Billiton currently had sole control over Samancor. Following the merger, Anglo American and BHP Billiton would have joint control over Samancor, comprising Samancor Holdings, Groote Eylandt Mining Company and Samancor AG.

Otmane El Rhazi : IFM Section 54 notice lifted, 4 000 t of production lost

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International Ferro Metals (IFM) on Wednesday announced that the Section 54 notice for its two ferrochrome furnaces and pelletiser has successfully been lifted following a meeting with the Department of Mineral Resources. The Section 54 notice had been issued last week following a health and safety incident that led to two employees being exposed to carbon monoxide (CO) gas, resulting in the temporary suspension of operations at the company’s furnaces and pelletiser.

Otmane El Rhazi : Mount Gibson in trading halt over further pit slump

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Iron-ore miner Mount Gibson Iron on Wednesday went into a trading halt, after a further slump in the Main pit seawall, at its Koolan Island mine, in Western Australia, interrupted geotechnical repairs at the site. Last month, operations in the Main pit were temporarily suspended as a precautionary measure to allow the company to monitor and repair an area of instability in the upper part of the southern pit wall.

Otmane El Rhazi : Mayoko-Moussondji proves up for Equatorial

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A prefeasibility study (PFS) into ASX-listed Equatorial Resources’ Mayoko-Moussondji project, in the Republic of Congo, has revealed that the project could support an annual production of some 2.5-million tonnes over an initial eight-and-a-half year mine-life. The PFS estimated that the project would require a capital injection of some $181.16-million and would have an operating cost of $39.93/t.

Otmane El Rhazi : Sinosteel Midwest gains community approval for Weld Range

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Iron-ore developer Sinosteel Midwest Corporation has gained the approval of the Wajarri Yamatji community for its Weld Range project, in the Mid West, following five years of negotiations. The Weld Range project was expected to produce some 15-million tonnes a year, once operational, and would have an expected mine-life of some 15 years. The project would produce lump and fines products for export to Chinese steel mills.

Otmane El Rhazi : BHP Billiton signs R10bn aluminium supply deal with black consortium

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The world’s biggest mining company BHP Billiton has agreed a R10-billion, five-year liquid metal supply contract with a black-controlled consortium in a transaction that gives the South African aluminium industry a shot in the arm. The diversified major, which is in the process of demerging its South African aluminium, manganese and coal assets into a separate new company (Newco) that will be listed in Australia, South Africa and Britain, said on Monday that it had reached a definitive agreement to sell its Bayside value-added-product casthouse in Richards Bay, KwaZulu Natal, to Isizinda Aluminium, a majority owned, broad-based black economic empowerment consortium. (Also watch attached video).

Otmane El Rhazi : BHP Billiton’s demerging Newco heading for May vote

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The demerging of a selection of BHP Billiton assets into a separate new company (Newco) was going according to plan and heading for a May vote, Newco CEO-elect Graham Kerr said on Monday. Responding to Mining Weekly Online during question time at a media conference on BHP Billiton selling its South African Bayside aluminium casthouse to black economic empowerment consortium Isizinda Aluminium as part of a R10-billion, five-year agreement involving JSE-listed aluminium semis fabricator Hulamin, Kerr said demerger progress was being made on the regulatory, shareholder and employee fronts (also see the attached video).

Otmane El Rhazi : Ntsimbintle targeting additional 800 000 t/y project

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Broad-based black economic-empowered company Ntsimbintle Mining was targeting the development of a new 800 000 t/y manganese mine, in the central-northern part of the Kalahari basin, in the Northern Cape, Ntsimbintle director Justin Pitt has revealed. Speaking to Mining Weekly Online at a Ntsimbintle gala dinner, in Kimberley, on Friday night, he outlined that the company owned 51% of the new project, which would be developed by Mokala Manganese, a company that was established specifically for this purpose.

Otmane El Rhazi : IFM to appear in court in relation to Section 54 notice

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International Ferro Metals (IFM) would on Monday appear in court in relation to a claim by the Department of Mineral Resources (DMR) that the ferrochrome producer had not met all the requirements of a Section 54 notice issued to it last week. IFM said it had suspended production at its two ferrochrome furnaces and pelletiser on Wednesday in response to a Section 54 notice, following a health and safety incident where two employees had been exposed to carbon monoxide (CO) gas.

Otmane El Rhazi : First phase of Dingleton relocation project under way

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The first phase of Kumba Iron Ore’s relocation of the Dingleton community in the Northern Cape officially got under way this week with the first households moved into their new homes in Kathu. The R4.2-billion relocation project was an important element of Kumba’s Sishen Mine’s western expansion, to ramp up production to 37-million tonnes by 2016.

Otmane El Rhazi : Five mineral value-chains prioritised in South Africa’s draft beneficiation plan

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The Mineral Beneficiation Action Plan (MBAP), which is currently in draft form, should be finalised by the end of March 2015, the Department of Trade and Industry (DTI) has confirmed. The department is leading the drafting process, which also involves the National Treasury, the Economic Development Department the Department of Mineral Resources (DMR) and the Department of Science and Technology. The Economic Sectors, Employment and Infrastructure Development Cluster announced this week that the MBAP would seek to advance “local value-addition across five mineral value-chains, namely, iron-ore and steel, platinum group metals, polymers, titanium and mining inputs”.

Otmane El Rhazi : African Minerals considers partial sale of Tonkolili stake

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London-listed African Minerals, which holds a 75% stake in the Tonkolili iron-ore mine, in Sierra Leone, is considering the partial sale of its interest in the project, as a means to deal with the immediate liquidity issues facing the project. Trading in the company’s shares on the LSE was suspended on Thursday while the mine developer and operator sought to clarify its financial position.

Otmane El Rhazi : Quebec's ambitious Plan Nord mineral project goes south

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.



A plan by the Canadian province of Quebec to spend billions to develop the mineral riches of its northern region has been dealt a crippling blow by the pending closure of a major mine as iron ore prices sink and China's interest wanes. The Plan Nord project hopes to attract C$80 billion ($71-billion) of investment to the vast northern region, of which the iron ore-rich Labrador Trough is a major component. The French-speaking province is trying to sell the plan globally and is hoping miners will flock to northern Quebec after the government invests in the infrastructure necessary to open it up.

Otmane El Rhazi : African Eagle buys LCR, embarks on equity raising

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Dual-listed African Eagle Resources on Thursday announced plans to buy Lime-Chem Resources (LCR) for $6-million, less the value of net debts and trade and other payables owed by LCR. The company, for which AltX and Aim trading was currently suspended, entered into a conditional agreement that would see it own 74% of LCR, with the remaining 26% to be held by a black economic-empowerment partner, which the company was currently seeking.

Otmane El Rhazi : With iceman on the way, US plants and suppliers get ready

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US Steel is stockpiling extra iron ore ahead of what could be another record-long freeze-up of the Great Lakes. General Motors has built up inventories of critical parts at its plants and established a supply chain "crisis room" that will swing into action in the event of a major winter storm.