RIO TINTO
Iron ore majors struggle to replace depleted reserves
- Staff Writer
TRANSNET
Kumba holds guidance despite costs, price pressure
KUMBA Iron Ore left production and cost guidance for the 2026 financial year unchanged despite being buffeted by freight and mining cost escalation in the first half of its year, while weaker iron ore prices…
TRANSNET
Worst rain in decades dampens Kumba Iron Ore earnings
RAIN and a stronger rand weighed on Kumba Iron Ore in the six months ended June, the Johannesburg-listed miner said in a trading update today. Headline earnings would come in between R4.1bn and R4.4bn for the…
BAUXITE
Simandou iron ore exports surge in ramp-up milestone
IRON ore exports from the Simandou mine in Guinea surged in May hitting 2.2 million tons, sharply above April’s record of 1.3Mt, reports Bloomberg News. The improvement marks a significant step in the ramp-up…
SOUTH32
Nersa tariff saves jobs at Glencore ferrochrome smelters
AFTER months of uncertainty, the threat of job losses has been lifted from employees at the ferrochrome smelters of Glencore Merafe Chrome Venture. This was after South Africa’s energy regulator Nersa…
SAFETY
Iron ore heads for first monthly loss since February
IRON ore is on course for its first monthly decline since February as a brief rally sparked by a fatal coking coal mine explosion in China’s Shanxi province lost momentum, Bloomberg News reported on Friday.…
PLATINUM
Mantengu announces reverse takeover by UAE energy firm
MANTENGU Mining effectively brought the curtain down on five years of breathlessly controversial activity on the JSE announcing today its takeover by Averi, a UAE company specialising in African finance,…
GLENCORE
Merafe’s Eskom deal: Government needs it more
THE Glencore-Merafe Chrome Venture’s proposed 62c per kWh electricity tariff deal with Eskom, far below the standard tariff of around 234c per kWh, could determine whether its ferrochrome smelters return to…
STRIKE
Strike halts mining at Guinea’s Simandou project
A PAY dispute has halted mining operations at the Baowu-led blocks of Guinea’s giant Simandou iron ore project since last week, said Reuters on Wednesday. An estimated 3,000 workers at the mine have downed…
JUPITER MINES
Exxaro Resources is breaking from its iron shackles
THERE has always been a tight correlation between the share prices of Exxaro and Kumba Iron Ore. That’s because Exxaro’s 20% stake in Kumba subsidiary Sishen Iron Ore Company (SIOC) contributes just over half…
IRON ORE
China lifts iron ore ban on BHP cargoes
CHINA has lifted its ban on purchases of BHP iron ore, ending a dispute that had restricted steel mills from buying seaborne cargoes from the mining giant for more than six months, said Reuters. State iron…
ESKOM
Ferrochrome: Eskom opts for less revenue than none at all
ESKOM has opted for less revenue from South Africa’s ferrochrome producers rather than no revenue at all. For a company that now generates more electricity than it can sell, that makes sense, even if it’s…
DEMOCRATIC REPUBLIC OF CONGO
US minerals deal helps Congo raise $1.25bn in maiden bond
THE Democratic Republic of Congo has raised $1.25bn in its first international bond sale, capitalising on growing global demand for its critical minerals and improving ties with the US, said Reuters in a…
ALUMINIUM
Iron ore slips on signs of BHP-China thaw
IRON ore prices fell to their lowest in a month after reports emerged that BHP Group’s incoming CEO had visited Beijing, raising hopes that a prolonged dispute between the miner and its principal Chinese…
ESKOM
Glencore gives Eskom days to save ferrochrome deal
GLENCORE has given Eskom less than a week to accept revised terms on a power discount deal that would keep its South African ferrochrome smelters running and protect thousands of workers from retrenchment,…
EXPORTS
Tungsten prices surge as Iran war drains stocks
TUNGSTEN prices have hit their highest level in at least 90 years as the US and Israel burn through munitions supplies in their air campaign against Iran, deepening a supply crisis already set in motion by…