SOUTH32
Exxaro sells Moranbah South to Aussie miner for R1.68bn
- David McKay
EXPORTS
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…
KUMBA IRON ORE
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…
BHP
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…
ENERGY
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…
COBALT
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…
FERROCHROME
Glencore ferrochrome unit threatens to quit power talks
GLENCORE’S South African ferrochrome subsidiary has warned it may abandon negotiations with the government over a discounted electricity package, saying the conditions attached to the offer are unacceptable.…
GOLDMAN SACHS
Iron ore heads for biggest weekly gain
IRON ore is heading for its biggest weekly gain in more than a year after China’s state-backed buyer moved to expand restrictions on BHP products, said Bloomberg News in an article on Friday (13 March).…
ANGLO AMERICAN
Anglo American iron ore cargoes diverted by Iran war
AT least three iron ore cargoes operated by Anglo American have been diverted mid-voyage as the US and Israeli military campaign against Iran chokes one of the world’s most critical shipping corridors, said…
CHROME
Samancor presses ahead with job cuts despite Eskom deal
SAMANCOR Chrome is pushing forward with plans to retrench about 2,400 workers across its smelting operations and corporate offices, said Bloomberg News citing a statement from the National Union of…
ANGLO AMERICAN
ARM confirms bid to build Ngqura manganese terminal
AFRICAN Rainbow Minerals (ARM), the Patrice Motsepe company, confirmed it was participating in a bid to build and operate a new manganese export facility in Ngqura port in South Africa’s Eastern Cape.…
COBALT
Glencore backs Kazakh entrepreneur’s ERG stake bid
GLENCORE has proposed an $800m pre-payment arrangement to help finance a little-known Kazakh entrepreneur’s $1.4bn bid for a 40% stake in Eurasian Resources Group, the Luxembourg-based miner formerly listed…
SOUTH AFRICA
Glencore Merafe extends deadline ahead of definitive power tariff
GLENCORE Merafe Joint Venture said on Friday it would keep its ferrochrome operations in South Africa open for another month, until the end of March, in order to finalise terms for a lower electricity tariff…