Monday, May 21, 2018

Zimbabwe rejects a takeover bid by South Africa's ArcelorMittal for state steel maker ZISCO in a move that could slow a drive to attract foreign investment.

RIO Tinto is to sell its 46.6% stake in Guinea iron ore project, Simandou, to Chinalco for between $1.1bn and $1.3bn, the Anglo-Australian group...

Sable Mining will finance its $250m Nimba iron ore mine in such a way as to leave the door open to a merger with Anglo, GlencoreXstrata or Mittal as possible suitors.

Merafe Resources CEO, Stuart Eliot, says the South African ferrochrome industry is only operating at 65% capacity, accounting for the boost in second- quarter prices.

An 18% gain in the share price of ArcelorMittal South Africa was due to the fact it had been oversold, a spokesman said despite reports it was due to restructure.

Exxaro Resources has been plunged into its worst ever financial performance owing to a R5.8bn write-down of its Mayoko iron ore project, R400m worse than first forecast.

Anglo American will take a hit of between $300m and $400m to its expected earnings before interest, tax depreciation and amortisation (EBITDA) for its...

Russian miner Petropavlovsk is to list its non-precious assets, which include iron ore and titanium, on the Hong Kong exchange.

South-African based pure iron ore company Kumba Iron Ore says it expects to increase output to 70 million metric tons by 2019, from 39.4 million in 2009.

Iron ore junior Ferrox Holdings has appointed HSBC as its financial adviser in raising capital for the development of the group’s Tivani project in Limpopo.