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.
Thursday, 3 September 2015
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.
Monday, 31 August 2015
Otmane El Rhazi : Preferred Highveld bidder could be named this week
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Three formal bids have been received by the practitioners presiding over the business rescue of steel producer Evraz Highveld Steel and Vanadium and a preferred bidder could be named by as early as Wednesday. Business rescue practitioner Piers Marsden told Engineering News Online on Monday that all three bids were received by the August 28 deadline, but that not all of the offers were necessarily capable of conclusion. Nevertheless, he remained optimistic that at least one bid could be accepted.
Three formal bids have been received by the practitioners presiding over the business rescue of steel producer Evraz Highveld Steel and Vanadium and a preferred bidder could be named by as early as Wednesday. Business rescue practitioner Piers Marsden told Engineering News Online on Monday that all three bids were received by the August 28 deadline, but that not all of the offers were necessarily capable of conclusion. Nevertheless, he remained optimistic that at least one bid could be accepted.
Otmane El Rhazi : AMSA moves ahead with job cuts, says recent protection will help only in longer term
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Steel producer ArcelorMittal South Africa (AMSA) announced on Monday that processes had been initiated “with immediate effect” that could result in the retrenchment 400 people at the Vereeniging meltshop and the forge, in southern Gauteng. An “industrial footprint review” had also been initiated for its far larger Vanderbijlpark works, which remained unprofitable – the review would be completed by the end of October and could also result in job losses.
Steel producer ArcelorMittal South Africa (AMSA) announced on Monday that processes had been initiated “with immediate effect” that could result in the retrenchment 400 people at the Vereeniging meltshop and the forge, in southern Gauteng. An “industrial footprint review” had also been initiated for its far larger Vanderbijlpark works, which remained unprofitable – the review would be completed by the end of October and could also result in job losses.
Otmane El Rhazi : Mineralogy seeks $10bn in damages from Citic
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Australian miner Mineralogy has launched yet another court battle against Chinese government-owned Citic, this time launching a $10-billion claim for damages in the Supreme Court of Western Australia. “The simple fact is that Citic continues to export iron-ore concentrate from Western Australia and refuses to pay Mineralogy the royalty, which even Citic announced to its shareholders was the commercial basis of Mineralogy granting Citic its right to mine two-billion tonnes of magnetite iron-ore on Mineralogy mining leases,’’ Mineralogy chairperson Clive Mensink said on Monday
Australian miner Mineralogy has launched yet another court battle against Chinese government-owned Citic, this time launching a $10-billion claim for damages in the Supreme Court of Western Australia. “The simple fact is that Citic continues to export iron-ore concentrate from Western Australia and refuses to pay Mineralogy the royalty, which even Citic announced to its shareholders was the commercial basis of Mineralogy granting Citic its right to mine two-billion tonnes of magnetite iron-ore on Mineralogy mining leases,’’ Mineralogy chairperson Clive Mensink said on Monday
Friday, 28 August 2015
Otmane El Rhazi : Price, jobs, investment conditions placed on beneficiaries of first round of steel duties
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
The first applications for protection on several steel products were approved on Friday, with Trade and Industry Minister Dr Rob Davies confirming that duties across eight tariff subheadings would be increased to the World Trade Organisation (WTO) bound rate of 10%. However, government insisted that there could be no price increases for the steel products in question and placed conditions on job cuts and future investments at beneficiary companies.
The first applications for protection on several steel products were approved on Friday, with Trade and Industry Minister Dr Rob Davies confirming that duties across eight tariff subheadings would be increased to the World Trade Organisation (WTO) bound rate of 10%. However, government insisted that there could be no price increases for the steel products in question and placed conditions on job cuts and future investments at beneficiary companies.
Otmane El Rhazi : BHP Billiton still bullish on China
Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about BHP Billiton's bullishness on China, as well as the demerged South 32's opportunity to work with Eskom on additional coal supply.
Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about BHP Billiton's bullishness on China, as well as the demerged South 32's opportunity to work with Eskom on additional coal supply.
Subscribe to:
Posts (Atom)