Ferrous Metals

Kumba bullish as volumes, prices soar

Kumba Iron Ore, controlled by Anglo American, said first half headline earnings would be higher year-on-year as volumes and prices for its iron ore soared.

Rio Tinto completes Alcan Packaging divestment

Resources giant Rio Tinto has wrapped up the divestment of its Alcan Packaging business with the completion of sales of its two outstanding assets.

Miners agree to cut ferrochrome price

Ferrochrome producers in South Africa, the world's largest producer, have agreed to a 4% fall in the third quarter contract settlement price, Merafe Resources says.

Rio not majorly affected by Zim diamond ban

Global miner Rio Tinto says it has not suffered significant loss from Zimbabwe's ban on diamond exports and the interuptions to shipments from the country are limited.

Rio Tinto to lift Ivanhoe stake to 30pct

Anglo-Australian miner Rio Tinto says it will spend $393m acquiring more shares in Canada's Ivanhoe Mines to progress a landmark copper-gold project in Mongolia.

Imperial Crown seeks Sishen access

Imperial Crown Trading 289 has advised Kumba Iron Ore it wants to access the Sishen mine site to investigate ways in which it can exercise its prospecting rights.

BHP welcomes resolution of resources tax

BHP Billiton's CEO Marius Kloppers is encouraged by the comments of newly-appoinmted Australian Prime Minister Julia Gillard that her government will open the door for negotiations with the objective of achieving consensus.

Govt mulls wilderness mining application

As the search for mineral resources intensifies, another South African company has applied to dig in pristine wilderness; this time, in search of manganese ore.

BHP, Rio agree higher iron ore royalty

Iron ore miners Rio Tinto and BHP Billiton agree to pay higher royalty rates to the Western Australian state government in return for approval for their $116bn joint venture.

BSI Steel in R70M acquisition deal

Steel company BSI Steel has announced that it is acquiring 100% of the issued shares of the privately-held entities, Staalbeer Limited and Universal Pulse Trading 103 for R70m in shares and cash.