Iron Ore Mining News

Transforming magnetite circuits with the IsaMillTM

IsaMillsTM have been established for over 15 years in base metal grinding circuits, transforming the operations with their energy efficient grinding action. The technology is now being adopted by the iron ore industry, with the first IsaMillTM being planned for commissioning in early 2011 at Xstrata Copper's Ernest Henry Mine's magnetite project in Queensland. Read more

ABB $10 million order to supply complete mine hoist to the Dannemora Mine in Sweden

ABB, the leading power and automation technology group, recently won an order worth over $10 million from Dannemora Minerals to deliver a complete mine hoist to the newly reopened Dannemora iron ore mine in east central Sweden.

Guinea iron ore project pegged at 111 million tonnes graded at 38% Fe

West Africa focused Bellzone Mining has released an initial resource estimate for its Kalia iron ore project in Guinea. The AIM-listed iron ore and nickel company announced an initial inferred JORC oxide resource of 111 million tonnes, graded at 38% Fe, which would be beneficiated using a standard gravity process to produce 58% Fe fines.

Infrastructure projects essential to Russian mining

Often located in some of the world’s most sparsely populated areas, developing mining projects in resource-rich areas more often than not means working in some of the most isolated regions known to man. From Azerbaijan to Zimbabwe, operators face a common challenge: that of ensuring the local infrastructure is able to support the demands placed upon it by a profitable mining operation.

United States Magnetic Materials Association: Defense bill calls for a competitive, multi-source rare earth inventory plan

The United States Magnetic Materials Association (“USMMA”), a trade association dedicated to restoring a competitive, secure, end-to-end rare earth supply chain to support the domestic manufacturing of rare earth permanent magnets, welcomes the inclusion of important and timely rare earth-related language in the Fiscal Year 2012 National Defense Authorization bill (H.R. 1540) that was passed by the House Armed Services Committee last night. The USMMA lauds the leadership of Representative Mike Coffman (CO-6), whose amendment recognizes current supply-chain vulnerabilities, focuses the Department of Defense on establishing an inventory of required materials, and encourages domestic manufacturing in this critical area.

A fragile South African iron ore story

ArcelorMittal South Africa (AMSA), a subsidiary of ArcelorMittal, the world's biggest steelmaker, this week announced an agreement which may see the acquisition of an iron ore "resource" in the Northern Cape. At the same time, parent company ArcelorMittal announced its first quarter earnings, where, for the first time, it reported its mining interests as a separate segment.

Montreal Gazette: Bill proposes changes to Quebec Mining Act

Following on the footsteps of an ambitious, $80 billion plan to invest in Quebec's north announced earlier this week, the provincial government is looking at changing its Mining Act, the Montreal Gazette writes: Bill 14, amending Quebec’s Mining Act “in keeping with the principles of sustainable development” was presented Thursday in the Quebec National Assembly.

Awards from BHP Billiton for execution of the Iron Ore Expansion Program in WA

The Fluor SKM Joint Venture (FAST JV) has received new awards from BHP Billiton to execute the company’s Iron Ore Expansion Program in Western Australia. The focus of new awards will be primarily the expansion […]

Quebec launches big mining plan

The Canadian province of Quebec plans to develop its huge frozen northern reaches into a powerhouse of mining and renewable energy, targeting C$80 billion ($83 billion) of private and public investment. Quebec's 25-year "Plan Nord," launched on Monday, envisages funding for infrastructure, mines and the development of renewable energy, taking advantage of an improving investment climate as the earth warms and polar ice melts.

Commodity slide likely due to economic concerns

Commodity prices took a beating today. This Bloomberg headline sums it up well: Commodities Sink Most Since 2008 as Stocks Fall. But how can this be? We have been told repeatedly that the surging commodity […]

The Contango Report: silver contango balloons, sugar backwardation disappears

Has oil moved into backwardation yet? What does corn’s roll yield look like? How do you know when it’s time to buy—or sell? Each week, we investigate the futures curves of the U.S.’ most important […]

Why commodities crashed

If you want to see market reporting done right, I can recommend the 2,000-word Reuters special report on Thursday’s commodities crash. It doesn’t just pick a random news event or gesture vaguely at “worries about economic growth” while saying what prices did; it looks at the mechanisms behind the market moves and what might have caused them. It’s worth underlining that Thursday’s percentage declines in commodities like silver and oil would count as a full-on disaster if they occurred in the stock market. Commodities markets are rowdier places than stock markets, however, and the only people who really got hurt are sophisticated investors who can take their medicine.

Advanced Explorations Inc. to expand feasibility production target at Roche Bay Iron Ore Project

Advanced Explorations Inc. (TSX-V:AXI) is pleased to announce progress in the ongoing Feasibility Study work for the C-Zone of its Roche Bay Iron Project in Nunavut, northern Canada. The Company has concluded multiple advantages may be drawn from an increased production of up to 5 million tonnes per year of concentrate (65%-66% Fe grade). This represents a 66% increase in production from the previously announced base case (3 million tonnes per year).

Teck announces Fording River collective agreement and related charge to earnings

Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced today that employees at its Fording River operation in southeastern British Columbia have ratified a new five-year agreement, replacing an agreement which expired on April 30, 2011. "Our discussions with the union were very productive and we are pleased to have reached a new five-year collective agreement at our Fording River operation," said Bill Fleming, Vice President, Operations and Engineering.

Sandvik Mining and Construction signs iron ore project order in Latin America

Sandvik Mining and Construction has signed a major materials handling contract with a major mining company in Latin America. The contract value exceeds SEK1,200 million and will be executed and contribute to SMC business during the years 2011 until 2013.

Vale reports best-ever financial performance for first quarter

Despite adverse weather conditions and natural disasters, Vale reported pellet output reached a record 12.5 Mt. for the first quarter of the year, up 19.3% from 10.5 Mt reported during the same period of last year. Iron ore production in the first quarter reached 71.5 Mt., a 3.7% increase over the same quarter of 2010. "For 2011 we continue to pursue the goal of 322Mt including the 11 Mt attributable production from Samarco," the company said.

Cliffs Natural Resources joins ranks of the Fortune 500

Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today announced it has been added to the Fortune 500 list 2011, Fortune Magazine's annual ranking of America's largest companies by revenue. Cliffs is ranked at No. 477, with annual revenues of $4.7 billion for 2010. "We are pleased to attain this ranking in the prestigious Fortune 500," said Joseph A. Carrabba, Cliffs' chairman, president and chief executive officer. "We consider it another significant milestone in our growth."

Argentine judge stops Siderar dividend payment

A planned dividend payment by steelmaker Siderar SID.BA was blocked by an Argentine judge on Thursday in the latest twist in a row linked to the government's efforts to tighten control over leading companies. The steel company had planned to pay a 2010 dividend of $359.5 million on Friday despite a ruling last month by the country's stock market regulator that effectively annulled the payment by declaring a shareholders meeting void.

Strong metals prices boost Vedanta full year earnings 29%

India-focused miner Vedanta Resources (VED.L) posted a 29 percent jump in full-year earnings per share, on the back of strong metal prices and a background of robust demand for commodities. Vedanta, with operations in India, Australia and Zambia, said on Thursday basic EPS came in at 283 cents.

Rio Tinto to weather storm of fragile global economy

Rio Tinto , the world's third-largest miner, expects global markets to remain fragile in the near term and sees itself in a strong position to weather any turbulence, its chairman said on Thursday. The company said that it expected little impact on demand for commodities following the earthquake and tsunami disasters in Japan, and said in the long run demand may increase as Japan moved to rebuild.

CSN profits up 38%, misses analyst estimates

CSN, Brazil's largest diversified steel group, said on Tuesday that net income jumped 38 percent in the first quarter from a year earlier thanks to robust sales of iron ore and lower sales costs. Sao Paulo-based CSN (CSNA3.SA)(SID.N) earned 616 million reais ($390 million) in the period, up from 447 million reais a year earlier, according to a securities filing. But this fell short of the 697 million reais profit estimate by five analysts in a Reuters poll.

Fortescue chooses Minesight software for its Pilbara iron ore ops

After lengthy deliberations involving several software vendors, Fortescue Metals Group, Australia's third largest iron ore producer after BHPBilliton and Rio Tinto, has picked MineSight for its mine planning software needs. "We decided to use MineSight because we found it to have a comprehensive suite of mine planning capabilities most suited to our operations and a demonstrated track record of quality improvements," said Andrew O'Dowd, FMG's Manager of Operations Planning.

Three Cs Going Crazy in Commodities

With silver spiraling out of control, it's worth checking in on some of the other commodities. Indeed the agricultural or soft commodities have, as a group, been surging in recent times, sending the Dow Jones UBS commodities index up over 30% year on year. Not only have they inflated returns on broad based commodity investment products but they've inflated prices, political tensions, and economic risks around the globe.

Posco finally gets $12bn nod from India

In India's biggest foreign investment deal since 1991, the Indian government has on Monday finally given South Korea's Posco the green light to build a giant $12 billion steel plant in the country. Posco has said it expects to renew `shortly' its pact with the Orissa government for building the $12 billion steel plant, even as the firm has assured that no exports of iron ore would be conducted from the site.

BHP Billiton approves Samarco expansion

BHP Billiton today announced that the partners of Samarco had approved the US$3.5 billion (BHP Billiton share1 US$1.75 billion) Fourth Pellet Plant Project at Samarco (Brazil). The expansion will increase Samarco iron ore pellet production capacity by 8.3 million tonnes to 30.5 million tonnes per annum (100% basis). First pellet production is expected in the first half of calendar year 2014. BHP Billiton President Iron Ore, Ian Ashby, said “Samarco is a low cost supplier of high quality iron ore pellets and over the last several years has been very successful in growing its resource base. This investment builds on its resource and operational strengths and will further improve Samarco’s competitiveness and market position.”