Otmane El Rhazi : Brazil's Vale halves 2015 dividends as iron-ore prices fall

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Brazilian miner Vale proposed on Friday to pay dividends of $2-billion this year, less than half the $4.2-billion it distributed in 2014, amid falling prices of iron ore and other base metals. The company intends to pay $0.388095186 per outstanding common and preferred share in two equal installments on April 30 and October 30.

Otmane El Rhazi : Merafe lifts FY, Q4 ferrochrome output

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Merafe Resources has lifted attributable ferrochrome production from the Glencore-Merafe chrome venture by 3% year-on-year to 92 000 t in the quarter ended December 31. The company said in a report on Friday that the improved output was the result of the start-up of Project Lion II, which was partially offset by additional planned maintenance on other furnaces operated by the venture.

Otmane El Rhazi : BC Iron back in full swing

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Iron-ore producer BC Iron returned to an annual run-rate of six-million tonnes a year during the three months to December, following a troubled September quarter, with the miner on Friday also downgrading its cost expectations for the full year. The Nullagine joint venture (JV), in Western Australia, shipped 1.38-million tonnes of Bonnie Fines during the quarter, with BC’s share amounting to 1.2-million.

Otmane El Rhazi : Vale's mega-ships dock at five Chinese ports – executive

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Brazilian miner Vale's mega-ships have been able to dock at five ports in China, the firm's head of investor relations said on Thursday, as a ban that had been in place since 2012 is relaxed. "The issue ... of the obstruction, that's overcome," investor relations chief Rogerio Nogueira, said at a conference in Rio de Janeiro.

Otmane El Rhazi : Iron-ore prices at new 5-1/2 yr low as rout takes hold

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Spot iron-ore prices hit a new 5-1/2 year low on Thursday as more signs emerged of slowing Chinese economic growth, although iron-ore and steel futures in China edged higher on interest from bargain hunters. A deepening iron-ore glut and worries over a sharper economic slowdown in top buyer China will drive the average 2015 price for the steelmaking ingredient to a record low of $68/t, a Reuters poll showed.

Otmane El Rhazi : Baobab to select Chinese partner to conduct Tete feasibility study

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Mozambique-focused miner Baobab Resources was nearing the conclusion of the selection process of a Chinese partner to conclude a feasibility study at its Tete iron project, in Mozambique. The company has been in detailed discussions with steel industry specialists Sinosteel Equipment & Engineering and The China Metallurgical Group Corporation, the Aim-listed company said in a statement on Thursday.

Otmane El Rhazi : IFM posts marginal production lift in Q2 despite stoppage

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International Ferro Metals (IFM) lifted ferrochrome production by a modest 3% to 49 800 t for the quarter ended December 31, despite the issuance of a Section 54 notice in November following a health and safety incident that led to two employees being exposed to carbon monoxide gas. IFM said at the time that an initial assessment of the impact of the stoppage on ferrochrome production indicated a loss of about 4 000 t.

Otmane El Rhazi : Fortescue lowers H2 cost guidance

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Iron-ore major Fortescue Metals has slashed its C1 cash costs during the quarter ended December, prompting the miner to decrease its C1 guidance for the second half of the 2015 financial year. C1 costs during the December quarter averaged $28.48/oz, a decrease of 11% on the previous quarter, and reflected Fortescue’s continued focus on operational efficiencies across its sites, a lower Australian dollar and lower fuel prices.

Otmane El Rhazi : Bellzone secures $30bn loan from Chinese partner

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Aim-listed miner Bellzone on Wednesday reported that it was finalising its $30-billion secured debt agreement with China Sonangol International to meet its liabilities. The company last year reported that it had been unable to secure long-term financing, with China Sonangol providing short-term loans as a solution.

Otmane El Rhazi : Kumba Q4 output up 10%

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JOHANNESBURG (miningweekly.com) – JSE-listed Kumba Iron Ore’s production increased 10% year-on-year to 12.43-million tonnes in the quarter ended December 31. The fourth-quarter production was, however, 4% lower than the 12.97-million tonnes produced in the third quarter of 2014.

Otmane El Rhazi : Anglo to parry with noncash impairment as price plunge bites

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Given the sharply lower commodity price environment, particularly for bulk commodities, Anglo American said on Wednesday that it expected to record noncash impairment charges in its 2014 results. The London- and Johannesburg-listed diversified major added in a media release that full details of the 2014 financial year impairment charges would be provided when the company published its 2014 preliminary results February 13.

Otmane El Rhazi : Goa mining ban lifted but operations remain unattractive

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The ban on iron-ore mining in the western Indian province of Goa might have been lifted but the resumption of mining operations to any significant volume was unlikely in the current environment of falling prices and the Indian government’s refusal to lower export taxes. According to an official in the Goa Mining Association (GMA), a representative body of miners in the province, with international iron-ore prices at a five-and-a-half year low, current offers from buyers did not ensure any margins for miners post the taxes and levies payable to the government.

Otmane El Rhazi : Mt Gibson flags A$850m to A$950m half-year impairment

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Iron-ore miner Mount Gibson Iron on Wednesday warned of a noncash impairment of between A$850-million and A$950-million in its interim results for the period ended December. The impairment comes in light of the declining market conditions, as well as recent development at Mount Gibson’s Koolan Island project, which was idled in December last year.

Otmane El Rhazi : US miner Cliffs seeks creditor protection in Canada

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Iron-ore and coal miner Cliffs Natural Resources has become the third major US company in the past six months to seek creditor protection for its Canadian arm to try to isolate losses and protect shareholders.The miner said it had commenced restructuring proceedings in Montreal on Tuesday. The move mirrors the route taken by US Steel, which sought creditor protection for its money-losing Canadian operations in September, and by US discount retailer Target Corp, which announced this month it was abandoning its Canadian expansion.

Otmane El Rhazi : Ring of Fire access route land squabble headed to Court of Appeal

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Prospective Ring of Fire (RoF) miners KWG Resources and Cliffs Natural Resources have been given the green light to take their quarrel over the right of way over an isthmus connecting the remote Northern Ontario mining camp with the outside world to the Court of Appeal for Ontario. KWG reported Tuesday that its subsidiary subsidiary Canada Chrome Corporation (CCC) had received an order of the Court of Appeal granting leave to appeal the decision of the Divisional Court of the Ontario Superior Court of Justice released July 30 last year, which ruled that CCC's consent should be waived in an application for an easement to build a road over its mining claims.

Otmane El Rhazi : Mining boosts the world’s poorest regions – ICCM

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The global mining industry makes its biggest contribution in the world’s poorest regions, an International Council on Mining & Metals (ICMM) study has found. The study, which became available in published form on Tuesday, finds that mining spurs the growth and development of national economies in general and impoverished economies in particular.

Otmane El Rhazi : Mining companies suffer $70bn in impairment losses – report

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A recent survey revealed that major global mining companies had suffered impairment losses of $70-billion in 2013/14, reflecting the impact of the current low commodity price cycle. The ‘Mining Financial Reporting Survey 2014’, compiled by financial services firm KPMG, further revealed that companies had overpaid for mining investments in the past.

Otmane El Rhazi : Northern Iron says it needs more funding despite record sales

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Despite reporting record production and sales for the year ended December, iron-ore miner Northern Iron on Tuesday warned shareholders that the company would require additional funding to continue as a going concern. Northern Iron reported that the continued decline of the iron-ore price had negatively affected the company’s working capital position, necessitating the need to secure additional debt or equity funding to support the business for the longer term, while the company continued to implement cost-cutting initiatives across its operations.

Otmane El Rhazi : Cape Lambert gets first royalty from Timis

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ASX-listed resource group Cape Lambert on Tuesday announced that it had receive its first royalty payment of A$400 000 from Timis Mining Corporation, as part of a funding agreement with the junior. Cape Lambert in October last year entered into a $20-million funding agreement with Timis Mining, under which the Australian company would provide Timis with funding for its November acquisition of the Marampa iron-ore project, in Sierra Leone, from the administrators of London Mining.

Otmane El Rhazi : Gindalbie looks to cut costs

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Iron-ore miner Gindalbie Metals on Tuesday told shareholders that further cost cutting measures would be implemented at the company, including a reduction in administrative overheads and the elimination of committee fees payable to directors. Gindalbie said that it was also reviewing its portfolio of exploration tenements, and would be divesting of those it believed to have little prospectivity.

Otmane El Rhazi : Iron-ore hits 5-/12 yr low as China mills cut output

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Iron-ore prices hit their lowest in 5-1/2 years on Monday as some loss-making Chinese steel mills curbed output, ore supplies remained abundant and concerns persisted about the outlook for economic growth in China this year. Cooling Chinese steel demand forced some steel mills to bring forward plant maintenance, which usually takes place during the Chinese New Year, which falls on February 19. Mills looked to curb oversupply that helped knock nearly a third off prices last year in the world's top producer of the alloy.

Otmane El Rhazi : Cliffs Natural Resources suspends dividend, repays $400m in debt

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US iron-ore and coal producer Cliffs Natural Resources has suspended its quarterly dividend as part of accelerated plans to repay its outstanding debt balance. Cleveland, Ohio-based-based Cliffs on Monday said it had already reduced its outstanding debt balance by more than $400-million during the quarter ended December 31, and January.

Otmane El Rhazi : Sable signs infrastructure development agreement with Liberia govt

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The signing of a 25-year infrastructure development agreement (IDA) between Aim-listed iron-ore explorer and developer Sable Mining Africa and the government of Liberia would allow the company to use, rehabilitate and expand the established rail line from Yekepa, in south-east Guinea, to the Port of Buchanan in Liberia, to export ore from its Mount Nimba project, in Guinea. The IDA was signed by Sable’s 80%-owned West Africa Exploration (WAE) subsidiary late last week.

Otmane El Rhazi : Peru grants environmental permit for $1.5bn Chinese-owned mine

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The government has granted Chinese-owned Jinzhao Mining Peru the environmental permit for its proposed $1.5-billion Pampa de Pongo iron mine, estimated to produce 22.5-million tonnes per year. The energy and mines ministry said in a statement on Friday that it had also approved the company's environmental plan for a nearby $340-million port terminal that will store and ship its iron concentrates.

Otmane El Rhazi : Sable confirms discussions around Liberia iron-ore export deal

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Aim-listed Sable Mining on Friday confirmed that it was in “advanced discussions” with the governments of Liberia and Guinea regarding its Mount Nimba iron-ore project, in south-east Guinea. Media reports stated that the company was expected to soon sign a $1.3-billion, 25-year infrastructure development agreement with Liberia for the transshipment of Guinean-mined ore through Liberia.

Otmane El Rhazi : China's 2014 iron ore imports from Australia rise 31.6%

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China's iron ore imports from Australia rose 31.6% to 548.4-million tonnes last year, customs data showed on Friday, as soaring production by big miners drove down prices and eliminated some smaller suppliers. Giant miners such as Rio , BHP Billiton and Brazil's Vale have been ramping up iron ore output, and the glut is likely to get even bigger as a cooling economy in top consumer China hits demand.

Otmane El Rhazi : Arrium redesigns operations to fend off iron-ore price fall

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ASX-listed Arrium on Friday announced the redesign of its South Australian hematite operations, including mothballing its Southern Iron mining operation, as part of an initiative to combat the falling iron-ore price. The company told shareholders that the redesign was aimed at maximising cash generation during the period of low iron-ore prices, by idling the higher-cost Southern Iron operation and optimising the lower-cost Middleback Ranges operation to deliver about nine-million tonnes a year of iron-ore.

Otmane El Rhazi : Brazilian port license in spotlight as Kazakh, Indian miners head to court

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Brazil's public prosecutor is seeking an injunction on a port licence that could be central to a London court battle between two mining companies run by Kazakh and Indian tycoons. Documents seen by Reuters on Thursday showed that Brazil's Federal Prosecution Service and Office of the District Attorney of the State of Bahia are seeking to suspend the port installation licence granted by Brazil's Federal Environmental Agency (IBAMA) on September 19. They say the agency withheld environmental impact data and failed to ensure the proper participation of the public in its assessments.

Otmane El Rhazi : Investors urged to be cautious about SA resource equities

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Financial services company Old Mutual Investment Group senior portfolio manager John Orford warns that owing to commodity prices, which are unlikely to recover strongly in 2015 as a result of the extent of the supply-side response in oil and iron-ore, as well as the underlying slowing of China’s growth, investors should remain cautious about South Africa resource equities.

Otmane El Rhazi : Tawana prepares for Liberia operation restart

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As the health, safety and corporate risks associated with the Ebola virus in Liberia diminish, ASX-listed Tawana Resources is gearing up to resume full site-based activities at its $53-million Mofe Creek iron-ore project. In August last year, Tawana suspended all nonessential fieldwork at its potential 1.2-million to 1.5-million-ton-a-year iron-ore mine after a state of emergency was declared in Liberia.

Otmane El Rhazi : Watershed economics rise as A$ falls

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The significant depreciation of the Australian dollar value, and the subsequent lower costs of Australian products and services would result in economic benefits to ASX-listed Vital Metals’ proposed Watershed tungsten project, in Queensland. Vital on Thursday reported that a review of its 2014 definitive feasibility study had resulted in a decrease in expected capital expenditure, from the A$172-million to between $138-million and $129-million, depending on the exchange rate.

Otmane El Rhazi : CITIC warns of massive write-down at Sino

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Chinese major CITIC has warned shareholders of a write-down of between $1.4-billion and $1.8-billion on its Sino iron-ore project, in Western Australia, for the full 2014. The miner blamed the falling iron-ore price for the massive impairment charge.

Otmane El Rhazi : Back to basics key message in Deloitte trend forecast

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While the outlook of the global mining sector for the year ahead looks bleak, with mining companies having to contend with price volatility, geopolitical turmoil, rising costs, declining grades and a general lack of access to financing, advisory firm Deloitte believes all is not lost. In its ‘Tracking the Trends 2015: The top 10 issues mining companies will face this year’ report, the company noted that miners had not seen many positive indicators in recent years, with productivity issues facing South African miners, uncertain growth prospects for countries such as China and India and weak prospects for many commodities, particularly iron-ore and coal.

Otmane El Rhazi : Atlas continues cost-saving measures to keep head above water

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Iron-ore miner Atlas Iron reported on Tuesday that its cost-cutting measures were continuing to deliver results, with the company reducing its all-in cash costs from A$69/t to A$66/t during the three months to December. Atlas previously announced plans to cut between A$65-million and A$90-million a year in capital costs through a range of initiatives, including productivity improvements at its operating mines in the Pilbara.

Otmane El Rhazi : Australia iron-ore ports reopen as cyclone threat eases

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Two of the world's biggest iron ore export terminals, Port Hedland and Dampier in Australia, reopened on Tuesday following brief shutdowns due to the threat of a cyclone that never materialised, the Pilbara Ports Authority said. Port Hedland, used by BHP Billiton and Fortescue Metals Group and accounting for about a fifth of all seaborne-traded iron ore was closed for 10 hours. Dampier, where Rio Tinto sends ore, was closed for 17 hours, according to the authority.

Otmane El Rhazi : Grange breaks more production records

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Magnetite miner Grange Resources has reported another record breaking quarter at its Savage River mine, in Tasmania. The miner this week reported that concentrate production during the quarter reached 705 965 t, compared with the 691 348 t delivered in the previous quarter.

Otmane El Rhazi : IMF lowers growth outlook for commodity exporters, SA included

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The International Monetary Fund (IMF) has lowered its 2015 growth forecasts for commodity exporters, including South Africa, saying the projected growth rebound for commodity-exporting developing countries will be weaker than had been forecast in the fund’s October World Economic Outlook (WEO). The WEO Update, released on January 20, lowered South Africa’s 2015 gross domestic product (GDP) projection to 2.1% from 2.3% in October, which was in line with the IMF’s 2014 Article IV Staff Report on South Africa released in December. The fund decreased its 2016 GDP growth projection for South Africa by 0.3 of a percentage point to 2.5%.

Otmane El Rhazi : Investors to blame for supporting dithering juniors

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In the aftermath of several key mining-related indexes having dropped significantly since 2011, the mining industry as a whole, and particularly the junior explorers and project generators, had to “reset” and undergo a paradigm shift from being project promoters, to being true value creators. This was the message institutional investor advisor Jayant Bhandari told afflated investors attending the Cambridge House International Vancouver Resource Investment Conference 2015.

Otmane El Rhazi : Samson offers backing to proposed sale of Macsteel to Southern Palace Group

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Black-economic empowered diversified industrial holding company the Southern Palace Group (SPG) reported on Monday that it had entered into an arrangement to buy 100% of Macsteel Service Centres South Africa (MSCSA). MSCSA is a leading supplier of value-added steel products and arguably one of the country’s largest privately owned businesses, which has been in operation since 1904 and supplies the full range of carbon steel, special steel, stainless steel, aluminium products and value-added steel processes to more than 10 000 customers in various industry sectors across sub-Saharan Africa.

Otmane El Rhazi : Key Australia iron-ore ports face short closure on cyclone threat

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Australia's Pilbara Ports Authority said it had started evacuation of ships at the Port Hedland and Dampier iron-ore ports due to cyclone threat, but forecast a short closure due to the low intensity of the storm. Any interruption in iron-ore shipments from the key ports of top supplier Australia could support prices of the steelmaking raw material, which are mired near five-and-a-half-year lows in a world market flush with supplies from big Australian miners.

Otmane El Rhazi : Low oil price a lifeline for small iron miners

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Efforts by big iron ore producers to put smaller, higher-cost rivals out of business by oversupplying the market are not paying off yet, and it's mainly due to price falls in another commodity – oil. The ploy by Australian majors Rio Tinto and BHP Billiton has pushed iron ore prices to their lowest in more than five years.

Otmane El Rhazi : Ministerial talk of a South African mining champion pleases analyst

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Talk of restoring the lost iconic status of the South African mining industry has gladdened the London-based Investec Global Research Team. “We’re glad to see growing political pressure in South Africa to restore the premier status of the mining industry,” the analyst team said in a note on Friday.

Otmane El Rhazi : Goa lifts ban on iron-ore mining

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The government of West Indian coastal province Goa on Thursday lifted a ban on iron-ore mining in the region. The local government issued an order lifting the ban as the first step towards resumption of mining operations, however, a matching order was required from federal Environment and Forest Ministry.

Otmane El Rhazi : Snow Peak acquisition transforms Consolidated Tin into producer

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ASX-listed Consolidated Tin has transitioned from explorer to producer after shareholders this week approved the acquisition of the Snow Peak Mining assets. In July, Consolidated Tin entered into a memorandum of understanding with Snow Peak Mining to acquire that company’s assets in exchange for 600-million fully paid shares and a A$16.5-million convertible note to Snow Peak Mining.

Otmane El Rhazi : Iron-ore major receives global awards

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Mining major Anglo American iron-ore business unit Kumba Iron Ore announced in October that the Top Employers Institute has certified the company as a top employer in South Africa for its employee offerings. The annual international research undertaken by the Top Employers Institute recognises leading employers around the world, particularly those that provide excellent employee conditions, nurture and develop talent throughout all levels of the organisation, and which strive to continuously improve employment practices. Kumba Iron Ore has been awarded both the exclusive Top Employers South Africa 2015 certification and was also recognised as the number one employer within the mining industry.

Otmane El Rhazi : Iron-ore major receives global awards

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Mining major Anglo American iron-ore business unit Kumba Iron Ore announced in October that the Top Employers Institute has certified the company as a top employer in South Africa for its employee offerings. The annual international research undertaken by the Top Employers Institute recognises leading employers around the world, particularly those that provide excellent employee conditions, nurture and develop talent throughout all levels of the organisation, and which strive to continuously improve employment practices. Kumba Iron Ore has been awarded both the exclusive Top Employers South Africa 2015 certification and was also recognised as the number one employer within the mining industry.

Otmane El Rhazi : NSL secures funding for Indian iron-ore projects

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India-focused NSL Consolidated has secured a $4-million convertible loan facility from a US-based investment firm to fund its iron-ore projects. Under the loan facility with Magna, NSL would receive $125 000 on the date of closing, and an additional $125 000 within 30 trading days of closing. Subsequent funding in tranches of up to $250 000 would be available every 60 calendar days at NSL’s election.

Otmane El Rhazi : Iron-ore approaches 2009 low, Citi cuts forecasts

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Spot iron-ore prices continued their descent and were close to their lowest level in more than five years as sluggish steel demand in top consumer China curbed any immediate need for mills to replenish stocks of the raw material. Citigroup slashed its 2015 iron ore price forecast to $58 a tonne from $65, citing a decline in supply costs. The bank also cut its 2016 estimate to $62 from $65.

Otmane El Rhazi : NMDC focuses on overseas assets

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With limited opportunities to expand mining operations within the country, India’s largest iron-ore miner NMDC Limited was increasing its focus overseas, including the new exploration efforts by its Australian subsidiary Legacy Iron and Russian potash firm Acron. According to a company official, the appointment of Rakesh Gupta as CEO of Legacy last month was the next step towards leveraging the considerable assets of NMDC in Australia.

Otmane El Rhazi : Bank flags metal price weakness as key risk to Africa’s 2015 outlook

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A further decline in the already depressed price of metals – particularly iron-ore, gold and copper – would severely affect a large number of countries in sub-Saharan Africa, the World Bank’s latest Global Economic Prospects (GEP) report warns. The authors still expect the global economy to grow by 3% in 2015, up from 2.6% last year, and for the region to expand by 4.6%, with South Africa expected to growth far more slowly at 2.2%.

Otmane El Rhazi : Kasbah gets final enviro nod at Achmmach

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Tin hopeful Kasbah Resources was a step closer to production at its Achmmach project, in Morocco, after receiving final acceptance for the environmental and social impact assessment, as well as completing collective farmland rental agreements and signing in-principal community development agreements. The company’s proposed Achmmach water management strategy was also accepted by the Sebou Basin Agency.

Otmane El Rhazi : Winchester proves up for Korab

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A prefeasibility study into ASX-listed Korab Resources’ Winchester magnesite direct shipping ore (DSO) deposit, in the Northern Territory, has estimated that a capital injection of some A$4-million would be required to develop the project. The study was based on a conceptual mine that could operate at various capacity levels, from 250 000 t/y, 500 000 t/y and one-million tonne a year run-of-mine capacity.

Otmane El Rhazi : African Minerals secures $13m to pay salaries, taxes

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Troubled miner African Minerals, which owns a 75% stake in the Tonkolili iron-ore project, in Sierra Leone, reported on Monday that its partner Shandong Iron and Steel Group (SISG) had agreed to release $12.96-million from the project’s restricted bank account in Hong Kong. The cash had been used to pay December salaries and accumulated taxes due in Sierra Leone.

Otmane El Rhazi : WA throws junior iron-ore miners a lifeline

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The Western Australian government in December launched a relief package for junior iron-ore miners, in an effort to battle the falling commodity prices. The state government said it would make temporary assistance available to junior iron-ore miners on a case-by-case basis as they restructure operations in challenging market conditions.

Otmane El Rhazi : Fortescue adds resources to Chichester Range

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Iron-ore major Fortescue Metals has reported a more than 300-million tonne increase to the mineral resource base along its Chichester Range. The miner told shareholders that the increased tonnage included additional resources immediately north of the Cloudbreak and Christmas Creek operations, which had been delineated by recent drilling up-dip of existing mining operations.

Otmane El Rhazi : KWG on track to secure N American patents for novel chromite reduction process

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Chromite explorer KWG Resources has received an international search report from the US Patent Office's International Searching Authority that had concluded the company’s application to patent a new process for the direct reduction of chromite using natural gas, a carbon reductant and a catalyst formulation was original. The search report indicated that KWG’s claims were novel and that prior art did not teach or fairly suggest anything similar. The report also indicated that the claims had industrial applicability as defined by Patent Cooperation Treaty Article 33(4), because the subject matter could be made or used in industry.

Otmane El Rhazi : Quebec First Nations claim victory in Court of Appeals

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The Quebec Court of Appeal has refused to hear a motion to dismiss a C$900-million class action lawsuit by two Innu First Nation communities against a subsidiary of Rio Tinto. The Innu communities of Uashat Mak Mani-Utenam and Matimekush-Lac John asked the court last March for an injunction against Rio's Iron Ore Company of Canada (IOC) unit in Quebec and Labrador to stop all mining, as well as an estimated C$900-million in damages.

Otmane El Rhazi : Cape Lambert to cut A$3.5m in costs, postpones dividend

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ASX-listed Cape Lambert on Wednesday announced cost cutting measures to save an estimated A$3.5-million a year, which included letting go of 117 staff members. The company told shareholders that the measures were incorporated following a review of the company’s capital management strategy and projected expenditure, taking note of the recent deteriorating market conditions and the substantial fall in the iron-ore price.

Otmane El Rhazi : Northern Iron takes alternative route in advancing Griffith mine

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After a tough 2014 junior mining companies will no doubt hope the economic headwinds start to recede in 2015. But it is already too late for some, their fates sealed by evaporated treasuries. Many of these companies tried to weather the storm by slashing expenditure and praying for a return of supercycle conditions to excite the market once more. Other juniors saw the writing on the wall long beforehand. The smarter ones realised that advancing their core projects would increasingly depend on securing alternative finance and taking other innovative measures. But this route takes time, a precious commodity many juniors no longer have. It also comes with an important caveat: the project in question must be attractive enough to build interest in the first place.

Otmane El Rhazi : Ascot declares maiden reserve at Wonmunna

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Iron-ore hopeful Ascot Resources has reported a maiden probable ore reserve estimate of 28.9-million tonnes, grading 58% iron at its Wonmunna project, in the Pilbara. In addition to the ore reserve estimate, Ascot noted that the CMM deposit also contained some 2.7-million tonnes of mineable tonnage, at an average grade of 58% iron, giving the Wonmunna project a potential mineable inventory estimate of 31.6-million tonnes, at 58% iron.

Otmane El Rhazi : Centaurus appoints hunter for Candonga financing

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ASX-listed metals developer Centaurus Metals has appointed resource financier RMB Resources to arrange for a A$6-million working capital facility to underpin the development of the Candonga iron-ore project, in Brazil. Funds would also be used to support ongoing exploration programmes in Brazil, including at the Candonga West project.

Otmane El Rhazi : Australia port's Dec iron ore shipments to China up 5%

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Exports of iron ore to China via the Port Hedland terminal rose 5% in December from November, underscoring in part a subdued start to the Australian cyclone season, figures released on Tuesday showed. December shipments to China from Port Hedland, which handles about a fifth of the world's seaborne trade, increased by 1.57-million tonnes month-on-month to 30.6-million, according to Pilbara Ports Authority.

Otmane El Rhazi : Confidence grows in Flinders’ Pilbara project as WA backs rail plan

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.



Iron-ore developer Flinders Mines on Monday welcomed the Western Australian government’s backing for the construction of a new railway line in the region. At the end of December, the Western Australian government invited ASX-listed Rutila Resources to negotiate a state agreement for the construction of a railway in the Pilbara, linking the Balla Balla port with the proposed 25-million-tonne-a-year Pilbara iron-ore project, being developed by Flinders.

Otmane El Rhazi : Cliffs completes W Virginia coal asset divesture, E Canada exit on track

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.



US Iron-ore producer Cliffs Natural Resources has completed the sale of its Logan County Coal assets, in West Virginia, to a subsidiary of Coronado Coal for $174-million in cash, including assuming certain liabilities. Cliffs on Friday said it expected a tax benefit associated with the transaction of between 20% to 25% of the previously disclosed pre-tax loss of about $400-million, which represented an additional benefit of $80-million to $100-million in future cash tax savings.