Ferrous Metals

Kumba de-risked as transfers Thabazimbi to ArcelorMittal SA

KUMBA Iron Ore continued its rehabilitation, quite possibly in preparation for its demerger, announcing today its 76%-owned subsidiary, Sishen Iron Ore Company (SIOC), had...

China OKs individual iron ore deals as talks stalemate

China's steel industry body will allow mills to sign individual supply deals with global miners, as it seemed to abandon efforts to preserve annual pricing that for months had appeared doomed.

Kumba’s Sishen bid delayed as Zim quits

Kumba Iron Ore's chair Lazarus Zim has stepped down and its court challenge to the 21.4% prospecting right awarded to ICT for Sishen mine has suffered a setback.

Merafe warns over ferrochrome prices

Merafe Resources, which produces ferrochrome in a joint venture with Xstrata, says third quarter ferrochrome prices have dropped 11% quarter-on-quarter.

Anglo sells 70% stake in Brazil’s Amapá

Anglo American has sold its non-core Amapa iron ore mine in Brazil to Zamin Ferrous for an undisclosed fee, the group said.

Iron ore steady ahead of steel uptick

Steel production was likely to tick up in September and October in China with iron ore prices holding steady in the meantime, traders said.

S.Korea steel body joins iron ore price protests

The Korea Iron & Steel Association said it has joined European and Chinese steel bodies to oppose recent raw material price increases.

Rio Tinto’s iron ore output flattens out

Rio Tinto has reported near-flat production growth of iron ore for the fourth quarter, weaker than some market expectations amid concerns that Chinese demand is softening.

Kumba workers to get R2.3bn payout

Some 5,000 Kumba Iron Ore employees are set to get up to R500,000 each in November when a broad-based empoyee share participation scheme matures.

Kumba ‘second footprint’ lends option to SA

Norman Mbazima, Kumba Iron Ore CEO, believes government is realistic, but its plans for domestic iron ore pricing makes the firm's Africa footprint a useful option.