Wednesday, November 22, 2017

Severstal has said it reached an agreement to acquire the remaining 38.5% stake in the Putu iron ore project from Afferro for $65m, as well as possible future payments.

Kumba Iron Ore has accused the department of mineral resources of acting unlawfully and maliciously for accepting a mining rights application from ICT over Sishen mine.

African Iron's directors have formally accepted Exxaro's takeover offer, says the company.

ArcelorMittal SA is bracing itself for yet another legal skirmish with regulatory authorities, this time for allegedly breaching conditions attached to an air emission licence.

Government is pursuing a deal with domestic steel and iron industries that will allow steel firms to source iron ore from Kumba at a discount, subject to a steel pricing agreement.

Petmin is about to ditch its policy of locking all sales into supply agreements, saying it wants to cash in on higher spot prices for the anthracite it produces at Somkhele mine.

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.

ArcelorMittal South Africa has reported a sharp drop in first-quarter profit, but says it expects improvement in the next three months.

Kumba Iron Ore, which is 64% owned by Anglo American, says it is confident that the Transnet strike will have no long-term effect on the company's exports.

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