Ferrous Metals

Rio sounds death knell for annual iron ore pricing

Rio Tinto says it is dumping the annual iron ore pricing in favour of quarterly pricing. It is the last of the top three to do so.

Merafe earmarks 2013 budget for chrome export levy

South Africa would know by the National Treasury’s 2013 budget whether its chrome exporters would face levies, says Merafe Resources.

Petmin to seek upside in spot market

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.

300 Sishen employees on strike

Kumba Iron Ore says about 300 employees at the company’s Sishen mine in the Northern Cape have embarked on an unprotected work stoppage.

Sable seeks cash flow kicker from Botswana deal

Sable Platinum is to buy just over a quarter of Global Initiatives, a Botswana firm that gives it access to cash flow from retreating more than 40mt of pig iron.

Rio Tinto earmarks $3.4bn for iron ore boost

Rio Tinto has announced a $3.4bn expansion of iron ore mining in Australia, where it has mapped out a plan to lift capacity by more than 50%.

Flagship R10.7bn manganese project in disarray

ArcelorMittal may escalate legal action as it suspects corporate governance failures at Kalagadi Manganese, the flagship venture of South Africa’s beneficiation strategy.

Kumba slides on earnings update

Shares in Kumba Iron Ore are under pressure following the release of a disappointing trading update from the Anglo American subsidiary.

Amsa stages turnaround, warns of dark clouds

An insurance payout, the return to production of the Newcastle plant, and restocking spelled good news for ArcelorMittal SA which nonetheless warned that domestic steel demand conditions were "lacklustre".

ARM, Vale to sell JV shares in $400m Lubambe mine for...

JOHANNESBURG-listed African Rainbow Minerals (ARM) and Vale, the Brazilian state-owned company, are to sell their joint venture stake in Zambia's Lubambe Copper Mine to...