Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Brazilian miner Vale said on Friday it launched a public offering for 1.35-billion reais ($352-million) of debentures. The money will be used to help fund the expansion of the Carajas railway as part of its S11D project, a huge new mine in the Amazon that is currently the world's largest iron-ore project.
Friday 11 September 2015
Otmane El Rhazi : Iron Road signs infrastructure MoUs
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Junior developer Iron Road on Friday signed four non-binding memorandum of understanding (MoUs) and an indigenous land use agreement over its Central Eyre iron-ore project, in South Australia. The MoUs were signed with infrastructure investors allowed Iron Road to progress funding for the infrastructure components of its Centrale Eyre project.
Junior developer Iron Road on Friday signed four non-binding memorandum of understanding (MoUs) and an indigenous land use agreement over its Central Eyre iron-ore project, in South Australia. The MoUs were signed with infrastructure investors allowed Iron Road to progress funding for the infrastructure components of its Centrale Eyre project.
Thursday 10 September 2015
Otmane El Rhazi : Moody’s cuts commodity price assumptions on ‘extraordinarily adverse’ conditions, dimmed ...
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
The contraction in base metal prices and related commodities, which have shown a declining trend since 2013, has accelerated in recent months thanks to a culmination of macro and industry specific factors, prompting risk management firm Moody's Investors Service to lower its commodity price assumptions. The firm on Thursday explained that a perceived sharper than expected slowing of the Chinese economy, limited supply response from commodity producers, overcapacity in global steel markets, reduced energy costs and the strong dollar were creating “unprecedented adverse” conditions for these commodities, driving prices down to levels close to those seen in the 2008/09 financial crisis, but with more drawn-out recovery prospects.
The contraction in base metal prices and related commodities, which have shown a declining trend since 2013, has accelerated in recent months thanks to a culmination of macro and industry specific factors, prompting risk management firm Moody's Investors Service to lower its commodity price assumptions. The firm on Thursday explained that a perceived sharper than expected slowing of the Chinese economy, limited supply response from commodity producers, overcapacity in global steel markets, reduced energy costs and the strong dollar were creating “unprecedented adverse” conditions for these commodities, driving prices down to levels close to those seen in the 2008/09 financial crisis, but with more drawn-out recovery prospects.
Otmane El Rhazi : ‘Sectional block model’ launched in China
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
South Africa and Singapore-based commodity trader Sail Group in conjunction with integrated chrome producer Afarak Group and trade services company Chinalight Resources launched the Sectional Block model – an approach to mine development that serves both the mine developer as well as the Chinese end-user – last month in Shangai, China.
South Africa and Singapore-based commodity trader Sail Group in conjunction with integrated chrome producer Afarak Group and trade services company Chinalight Resources launched the Sectional Block model – an approach to mine development that serves both the mine developer as well as the Chinese end-user – last month in Shangai, China.
Otmane El Rhazi : Mining output expected to decline as platinum recovery slows
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Despite a marginal hike in mining production in July, proponents expect output to track downwards during the second half of the year as the recovery effect after last year's platinum mining strike starts to wane. Annual mining production growth increased from a revised 5.4% in June to 5.6 % in July, on the back of a 71.8 % year-on-year increase in platinum group metals (PGM) output, which added 7.9 percentage points.
Despite a marginal hike in mining production in July, proponents expect output to track downwards during the second half of the year as the recovery effect after last year's platinum mining strike starts to wane. Annual mining production growth increased from a revised 5.4% in June to 5.6 % in July, on the back of a 71.8 % year-on-year increase in platinum group metals (PGM) output, which added 7.9 percentage points.
Otmane El Rhazi : Grange confident of meeting FY output target
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Pellet producer Grange Resources is optimistic about its targeted production for the full 2015, despite a 65-day downtime at one of its two mills. The company said on Thursday that owing to the highly successful refurbishment of the mill, which delivered increased production rates and greater efficiency, Grange was on track to produce some 2.5-million tonnes of magnetite concentrate for the full-year, which was on par with that produced in 2014.
Pellet producer Grange Resources is optimistic about its targeted production for the full 2015, despite a 65-day downtime at one of its two mills. The company said on Thursday that owing to the highly successful refurbishment of the mill, which delivered increased production rates and greater efficiency, Grange was on track to produce some 2.5-million tonnes of magnetite concentrate for the full-year, which was on par with that produced in 2014.
Otmane El Rhazi : Atlas beefs up margins as it reaches export targets
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Not only has iron-ore miner Atlas achieved its targeted export rate of 14-million to 15-million tonnes a year some four months ahead of schedule, margins during August were stronger on the back of increased realised prices. The ASX-listed miner noted that tonnes shipped during August were up 33% on the July figures, reaching 1.18-million tonnes, while average realised prices were higher at A$61/t, compared with the A$57/t reported in July.
Not only has iron-ore miner Atlas achieved its targeted export rate of 14-million to 15-million tonnes a year some four months ahead of schedule, margins during August were stronger on the back of increased realised prices. The ASX-listed miner noted that tonnes shipped during August were up 33% on the July figures, reaching 1.18-million tonnes, while average realised prices were higher at A$61/t, compared with the A$57/t reported in July.
Otmane El Rhazi : Atlas beefs up margins as export targets are reached
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Iron-ore miner Atlas Iron on Thursday told shareholders that not only had the company achieved its targeted export rate of 14-million to 15-million tonnes a year some four months ahead of schedule, margins during the month of August were also stronger on the back of increased realised prices. The ASX-listed miner noted that tonnes shipped during the month of August was up 33% on the July figures, reaching 1.18-million tonnes, while average realised prices were higher at A$61/t, compared with the A$57/t reported in July.
Iron-ore miner Atlas Iron on Thursday told shareholders that not only had the company achieved its targeted export rate of 14-million to 15-million tonnes a year some four months ahead of schedule, margins during the month of August were also stronger on the back of increased realised prices. The ASX-listed miner noted that tonnes shipped during the month of August was up 33% on the July figures, reaching 1.18-million tonnes, while average realised prices were higher at A$61/t, compared with the A$57/t reported in July.
Wednesday 9 September 2015
Otmane El Rhazi : Pluton placed under administration again
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
ASX-listed Pluton Resources has, again, been placed under administration after its board accepted a recapitalisation and restructuring plan from shareholder General Nice Recursos Commercial Offshore De Macau (GNR). The recapitalisation proposal would see GNR provide significant financial support to Pluton over the coming months, including a A$28-million finance facility that would be advanced by way of a 36-month convertible loan.
ASX-listed Pluton Resources has, again, been placed under administration after its board accepted a recapitalisation and restructuring plan from shareholder General Nice Recursos Commercial Offshore De Macau (GNR). The recapitalisation proposal would see GNR provide significant financial support to Pluton over the coming months, including a A$28-million finance facility that would be advanced by way of a 36-month convertible loan.
Otmane El Rhazi : Iron Road tempts Chinese mills
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Junior Iron Road has inked separate non-binding memorandum of understandings (MoUs) with Chinese steel companies to support offtake agreements at its Central Eyre iron project, in South Australia. Under the MoUs, the steel companies would conduct technical evaluations of the iron concentrates from the Central Eyre project, to verify the commercial and technical merits of the product as a precursor to entering discussions towards a letter of intent for the long-term supply of concentrate.
Junior Iron Road has inked separate non-binding memorandum of understandings (MoUs) with Chinese steel companies to support offtake agreements at its Central Eyre iron project, in South Australia. Under the MoUs, the steel companies would conduct technical evaluations of the iron concentrates from the Central Eyre project, to verify the commercial and technical merits of the product as a precursor to entering discussions towards a letter of intent for the long-term supply of concentrate.
Monday 7 September 2015
Otmane El Rhazi : BHP mine gets enviro nod
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
The Western Australian Environmental Protection Authority (EPA) has given diversified miner BHP Billiton the go-ahead to develop its Orebody 31 iron-ore mine, in the Pilbara. The mine, which was scheduled for decommissioning in in 2018, would produce around 30-million tonnes a year of iron-ore and would make use of existing facilities, including primary crusher, stockpiles and train load-out facilities.
The Western Australian Environmental Protection Authority (EPA) has given diversified miner BHP Billiton the go-ahead to develop its Orebody 31 iron-ore mine, in the Pilbara. The mine, which was scheduled for decommissioning in in 2018, would produce around 30-million tonnes a year of iron-ore and would make use of existing facilities, including primary crusher, stockpiles and train load-out facilities.
Otmane El Rhazi : Japanese buyers circle ATC product
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Tungsten miner Hazelwood Resources has moved to secure offtake partners for its ATC ferrotungsten operation, in Vietnam. The company reported on Monday that the ATC operation had signed long-term contracts with three Japanese ferrotungsten buyers, with the contracts scheduled in six-month periods with monthly call-offs.
Tungsten miner Hazelwood Resources has moved to secure offtake partners for its ATC ferrotungsten operation, in Vietnam. The company reported on Monday that the ATC operation had signed long-term contracts with three Japanese ferrotungsten buyers, with the contracts scheduled in six-month periods with monthly call-offs.
Otmane El Rhazi : Glencore in R2.5bn equity raising, $10bn capital preservation, debt cutting
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Global commodities mining and marketing company Glencore on Monday announced a fully committed proposed equity capital raising of up to $2.5-billion alongside additional $10.2-billion capital preservation and debt reduction measures, portfolio optimisation and cost cutting actions, to lower net debt to the low $20-billion range by the end of 2016. Some 78% of the proposed $2.5-billion equity issuance, to reduce debt and increase financial strength, will be underwritten by Citi and Morgan Stanley.
Global commodities mining and marketing company Glencore on Monday announced a fully committed proposed equity capital raising of up to $2.5-billion alongside additional $10.2-billion capital preservation and debt reduction measures, portfolio optimisation and cost cutting actions, to lower net debt to the low $20-billion range by the end of 2016. Some 78% of the proposed $2.5-billion equity issuance, to reduce debt and increase financial strength, will be underwritten by Citi and Morgan Stanley.
Friday 4 September 2015
Otmane El Rhazi : Miners increasingly looking to renewable energy sources to drive operational savings
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Current pressures on the mining sector is driving increased interest in the cost savings and power security advantages that renewables could provide mining operations. To this end, a record number of mining leaders would meet with renewable energy and finance experts to network and share knowledge at the third yearly Energy and Mines Toronto Summit, to be held on October 22 and 23.
Current pressures on the mining sector is driving increased interest in the cost savings and power security advantages that renewables could provide mining operations. To this end, a record number of mining leaders would meet with renewable energy and finance experts to network and share knowledge at the third yearly Energy and Mines Toronto Summit, to be held on October 22 and 23.
Otmane El Rhazi : ARM FY profit down 58% on lower prices
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
African Rainbow Minerals, led by CEO Mike Schmidt, posted a 58% fall in annual headline earnings on Friday reflecting lower commodity prices which forced it to shut down several manganese alloy furnaces. It said above-inflation cost increases, especially for electricity and labour, made manganese alloy operations "unprofitable".
African Rainbow Minerals, led by CEO Mike Schmidt, posted a 58% fall in annual headline earnings on Friday reflecting lower commodity prices which forced it to shut down several manganese alloy furnaces. It said above-inflation cost increases, especially for electricity and labour, made manganese alloy operations "unprofitable".
Thursday 3 September 2015
Otmane El Rhazi : Free-trade pact to offer Australian miners improved access to Chinese market
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
While commodity prices were in a downward slump, causing resource firms to slash costs, and in some cases curb output, Australia’s recent free trade agreement (FTA) with China was expected to offer up some relief. In June this year, the Australian government inked an FTA with its largest trading partner, which accounted for some A$160-billion worth of exports in 2013/14.
While commodity prices were in a downward slump, causing resource firms to slash costs, and in some cases curb output, Australia’s recent free trade agreement (FTA) with China was expected to offer up some relief. In June this year, the Australian government inked an FTA with its largest trading partner, which accounted for some A$160-billion worth of exports in 2013/14.
Otmane El Rhazi : Permanent operating licence granted for R8bn Ngqura manganese terminal
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Freight logistics company Transnet Port Terminals (TPT) has been granted a permanent operating licence by Cabinet for the manganese terminal at the Port of Ngqura to develop a bulk minerals terminal estimated at R8-billion.
Freight logistics company Transnet Port Terminals (TPT) has been granted a permanent operating licence by Cabinet for the manganese terminal at the Port of Ngqura to develop a bulk minerals terminal estimated at R8-billion.
Otmane El Rhazi : Australia's Port Hedland iron ore exports to China soar 15% in Aug
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Iron-ore exports to China from Australia's Port Hedland rose 15% to 33.9-million tonnes in August from July, as BHP Billiton and Fortescue Metals Group operated at maximum production rates despite a softening market, figures released on Thursday showed. The August increase over July sent total iron ore exports from the world's biggest iron ore export terminal to 39.2-million tonnes in August, a record for a single month and an 11 percent rise over July.
Iron-ore exports to China from Australia's Port Hedland rose 15% to 33.9-million tonnes in August from July, as BHP Billiton and Fortescue Metals Group operated at maximum production rates despite a softening market, figures released on Thursday showed. The August increase over July sent total iron ore exports from the world's biggest iron ore export terminal to 39.2-million tonnes in August, a record for a single month and an 11 percent rise over July.
Wednesday 2 September 2015
Otmane El Rhazi : Rio targets further cost cuts in the Pilbara
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Mining giant Rio Tinto on Thursday revealed a push to further drive down operational cost across its Pilbara iron-ore operations. Speaking in Sydney, Rio Tinto iron-ore CEO Andrew Harding said that more than 400 initiatives were underway across the Pilbara operations to identify further cost savings and improve productivity.
Mining giant Rio Tinto on Thursday revealed a push to further drive down operational cost across its Pilbara iron-ore operations. Speaking in Sydney, Rio Tinto iron-ore CEO Andrew Harding said that more than 400 initiatives were underway across the Pilbara operations to identify further cost savings and improve productivity.
Otmane El Rhazi : Trafigura buys iron mines from MMX, ships first ore from Sudeste
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Swiss trading house Trafigura said on Wednesday it has agreed to buy two iron-ore mines from MMX Sudeste Mineracao, the Brazilian mining firm run by fallen tycoon Eike Batista and under bankruptcy protection. Trafigura did not give the price, but said in an email that under the deal, it would acquire the Tico-Tico and Ipe iron-ore mining and processing assets, which have a capacity of about six-million tonnes per year according to MMX's website.
Swiss trading house Trafigura said on Wednesday it has agreed to buy two iron-ore mines from MMX Sudeste Mineracao, the Brazilian mining firm run by fallen tycoon Eike Batista and under bankruptcy protection. Trafigura did not give the price, but said in an email that under the deal, it would acquire the Tico-Tico and Ipe iron-ore mining and processing assets, which have a capacity of about six-million tonnes per year according to MMX's website.
Otmane El Rhazi : Evraz inches closer to revealing preferred bidder
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Vertically integrated steel producer Evraz Highveld Steel and Vanadium is one step closer to announcing a preferred bidder to buy the business, which is currently under business rescue. The company’s creditors’ committee met on Tuesday to consider three final binding offers and expected to announce a successful bidder during the course of the week. Evraz further said its business rescue plan would be published by mid-September, whereafter creditors would formally vote on the plan at the creditors’ meeting to be convened within ten days from the date of publication. All the bids were also associated with a large number of conditions precedent, mostly related to Highveld’s environmental liabilities, resolution of which would depend on it receiving a new dispensation from South Africa’s authorities.
Vertically integrated steel producer Evraz Highveld Steel and Vanadium is one step closer to announcing a preferred bidder to buy the business, which is currently under business rescue. The company’s creditors’ committee met on Tuesday to consider three final binding offers and expected to announce a successful bidder during the course of the week. Evraz further said its business rescue plan would be published by mid-September, whereafter creditors would formally vote on the plan at the creditors’ meeting to be convened within ten days from the date of publication. All the bids were also associated with a large number of conditions precedent, mostly related to Highveld’s environmental liabilities, resolution of which would depend on it receiving a new dispensation from South Africa’s authorities.
Tuesday 1 September 2015
Otmane El Rhazi : Brazil's Vale says receives $1.08bn for MBR stake sale
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Brazilian mining firm Vale said on Tuesday that it has received $1.08-billion from the sale of a 36.4% stake in its Minerações Brasileiras Reunidas subsidiary, which was announced in July.
Brazilian mining firm Vale said on Tuesday that it has received $1.08-billion from the sale of a 36.4% stake in its Minerações Brasileiras Reunidas subsidiary, which was announced in July.
Otmane El Rhazi : Iberian advances Cehegin project as iron-ore continues to face strong headwinds
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Iron-ore producers continued to batten down the hatches on low-cost oversupply, an overhang in steel inventories and, at the macro level, weakened Chinese manufacturing data. Many medium- or small-scale iron-ore projects had also been mothballed, shuttered or divested, while few commentators had been positive about the commodity’s immediate price prospects.
Iron-ore producers continued to batten down the hatches on low-cost oversupply, an overhang in steel inventories and, at the macro level, weakened Chinese manufacturing data. Many medium- or small-scale iron-ore projects had also been mothballed, shuttered or divested, while few commentators had been positive about the commodity’s immediate price prospects.
Otmane El Rhazi : Atlas exec shuffle saves A$1m a year
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Iron-ore miner Atlas Iron on Tuesday announced another board shuffle as part of its ongoing strategy to reduce costs. Ken Brinsden, who was appointed as an executive director in June, after standing aside as MD, had now been appointed as nonexecutive director.
Iron-ore miner Atlas Iron on Tuesday announced another board shuffle as part of its ongoing strategy to reduce costs. Ken Brinsden, who was appointed as an executive director in June, after standing aside as MD, had now been appointed as nonexecutive director.
Otmane El Rhazi : Wolf produces first tungsten from UK mine
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
ASX-listed Wolf Minerals has started tungsten concentrate production at its Drakelands openpit mine, at the Hemerdon tungsten and tin project, in the UK. “We are very pleased to announce that as part of the commissioning process, we have now produced tungsten concentrate to the required specification. We look forward to shipping our first tungsten concentrate to Global Tungsten and Powders in the US, and to Wolfram Bergbau und Hutten in Austria,” said Wolf MD Russell Clark.
ASX-listed Wolf Minerals has started tungsten concentrate production at its Drakelands openpit mine, at the Hemerdon tungsten and tin project, in the UK. “We are very pleased to announce that as part of the commissioning process, we have now produced tungsten concentrate to the required specification. We look forward to shipping our first tungsten concentrate to Global Tungsten and Powders in the US, and to Wolfram Bergbau und Hutten in Austria,” said Wolf MD Russell Clark.
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