Sir Mick the Miner in bold move to unlock one of Africa’s most exciting iron ore deposits
Almost every major player in mining has tried to build an iron ore mine in Guinea. Now it’s the turn of Mick Davis.
iron ore mining
Springing back to life: Anglo American surprises with dividend, growth promise
Anglo American, the mining giant that fought to survive the commodities collapse, has returned with a renewed sense of ambition.
Kumba exec shuffle: Appoints Anglo’s Mkhwanazi as new CEO
Kumba Iron Ore announced Tuesday that Themba Mkhwanazi will take the helm as chief executive from September 1, replacing Norman Mbazima.
BHP rising dividend promise in tatters, cut on cards after mudslide tragedy
BHP Billiton may be forced to cut shareholder payouts as a deadly mining disaster in Brazil adds to the company’s woes amid slumping commodity prices and slowing global growth.
BHP Billiton ups Q3 Australian iron ore output
BHP Billiton on Wednesday reported a rise in September quarter iron ore production as the mining giant vowed to continue reducing costs amid depressed prices from a global supply glut.
Rio Tinto stake gives Chinalco global clout as Glencore lurks
A Glencore/Rio Tinto merger infers that China’s Chinalco group, with a stake of close to 10 per cent of Rio Tinto, holds the key to reopening the process.
Iron ore price slumps to near 5 year low
From The Steel Index: Spot market prices for high quality iron ore fines fell to their lowest level in nearly five years yesterday as deteriorating conditions in China’s steel market were manifested in weaker demand for the steelmaking ingredient. TSI’s 62% Fe iron ore fines benchmark price fell a dollar to US$85.70/dry metric tonne, CFR … Read more
Guinea iron ore rights scandal pops up in US court
A two-year sentence handed down in a New York court (and reported here by Reuters) throws a torch beam on a long-standing and highly controversial African iron ore mining rights issue that seemingly required a searchlight to probe and uncover the alleged corruption associated with it. A question that apparently remains unanswered is how billionaire … Read more
“Huge relief” as Constitutional Court rules for Kumba, sends Gupta-owned ICT packing – victory for SA’s independent judiciary
An already bad year for the controversial Gupta family got even worse today when the Constitutional Court ruled against its opportunistic attempt to secure 21.4% of the mineral rights at Kumba’s operating Sishen iron ore mine. To access a copy of Mr Justice Jafta’s full judgement, click here. The Guptas hail from a small town … Read more