Tharisa bags R1bn debt, quadruples mine output
Tharisa confirmed debt facilities of R1bn, which will help it put its chrome and
PGM mine on the map ahead of a possible listing.
Essar shows its plans to revive former Zisco
India’s Essar Global is to sink $4bn into Zimbabwe’s collapsed steel mining
and beneficiation industry through a capital injection into NewZim Steel, a JV
with the country’s government.
Petmin profit flat, doubles Somkhele capacity
Petmin has posted an interim net profit of R47m to end-December 2011, following a period of significant capital investment in its flagship Somkhele mine.
Merafe says chrome export duty imminent
An export duty on chrome ore would help stop the slide in South Africa’s
market share of ferrochrome and protect jobs, Merafe Resources CEO Stuart
Elliot said.
IFM agrees to shut two furnaces
Eskom has agreed to buy back power from International Ferro Metals which has
agreed to shut two furnaces in deals most likely similar to shut downs at Rukkii,
Xstrata and Samancor.
Juniors will struggle to supply iron ore: Rio
Tightened credit lines and labour shortages would make it difficult for junior mining
firms to plug the supply deficit in iron ore said Rio Tinto which added the market
would not be oversupplied any day soon.
Big three iron ore miners may join China platform
China's recently established iron ore trading platform may be joined by the likes of
Rio Tinto, BHP Billiton and Vale.
Equatorial Resources bows to Exxaro offer
Equatorial Resources accepted an offer by Exxaro Resources for its 20% stake in
African Iron taking the South African firm's stake in the iron ore exploration firm to
86%.
BHP to halt Australia manganese facility
BHP Billiton will suspend production at its TEMCO manganese alloy smelter in Tasmania, Australia, by early to mid-March and conduct a review of the business.
Rio Tinto to invest in driverless iron ore trains
Rio Tinto is investing $518m in driverless trains for its 1,500km Western Australian iron-ore rail network as the world no. 2 iron ore miner aims to boost output 60% by 2015.