martes, 24 de abril de 2018

Anglo delays Minas Rio restart until year-end, will lose about $400 million

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Wednesday 25 April 2018
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The announcement is the last of a string of difficulties Anglo has faced with the iron ore mine, which was expected to produce 16 million tonnes this year, but that will now generate just 3 million tonnes.

Kumba Iron Ore reported a 4 per cent increase in overall production in the first quarter that ended March 31, 2018.

The machinery manufacturer logged earnings of $2.82 per share on revenue of $12.9 billion, surpassing expectations.

The world's top iron ore producer said that heavy rains in the first three months of the year impacted its output.

China's copper imports bounce back in the first quarter and is now up more than 7% year-on-year and iron ore shipments remain on pace for another record.

The second largest ever private equity fund focused on mining closed in the first quarter – 13 funds aim to raise a further $4.9 billion in 2018.

The information was made public by The Wall Street Journal, whose journalists had access to a procedural order.

The miner is withdrawing from the World Coal Association over a clash of views on how to fight climate change, with BHP saying it'll reap little benefit from staying on as a member.

Cobalt, nickel still on the boil, but gloomier outlook reflected in copper price and fall in market value of top mining companies during first quarter.

The Northwest Territories and Nunavut, two of the three regions with the lowest income per capita, will see exploration investment to drop again in 2018, Natural Resources Canada says.

South Africa's top gold producer has secured a 38% stake in DRDGold in exchange for some of its assets, which boosts the mid-tier gold miner's reserves by 91% to 5.7 million ounces.

Company has agreed to sell its 80% stake in the Kestrel mine to a consortium comprising of private equity manager EMR Capital and Indonesian coal company Adaro Energy.

The maintenance activity, originally scheduled for April, comes amid media reports that thousands had taken to the streets and shut shops in Thootukudi to protest against the expansion of the smelter.

The accident killed 19 people, left hundreds homeless and unemployed and caused sludge to wash downstream into the neighbouring state of Espírito Santo.

Company is growing its Virginia facility, which will cover over 251,000 square feet once completed.

It's an electrically conducting crystal, made from layers of iron and tin atoms, with each atomic layer arranged in the repeating pattern of a kagome lattice.

The share sale may be worth up to $2.4 billion if BNDESPar, the investment arm of state development bank BNDES, also sells part of its Vale stake.

Newly appointed Minister of Mineral Resources Gwede Mantashe said the key to regain investors and miners confidence in the South Africa's mining sector was to finalize revised plans for black ownership in the industry in the coming weeks.

Reactions continue to pour in following U.S. President Donald Trump's imposition of 25 per cent tariffs on steel imports and 10 per cent for aluminium for almost every country but Mexico and Canada.

Smart glass windows made with vanadium are capable of saving more energy by stopping thermal radiation from escaping, scientists say.

Brazil, Argentina, Japan and the EU have expressed concerns about the measure.

The iron ore producer reported a 2 percent fall in third-quarter iron ore shipments on reduced demand in China.

China already actively seeking opportunities.

The miner cut its fiscal 2018 production guidance to between 272-274 million tonnes of iron ore from 275-280 million tonnes.

They are seeking to obtain 30 more days to finish details of the plan.

The Anglo-Australian miner maintained its guidance for this year of 330 million to 340 million tonnes.

The world's biggest steel maker last month churned out a total of 73.98 million tonnes of steel, up 4.5 percent from a year ago.

Minas-Rio is Anglo American's biggest development project, and its bet on the future of iron ore.

The company halted production and transport operations for 90 days at the Minas-Rio mine to comply with a request by authorities that it inspects a pipeline that has leaked twice.

The project, being considered by the federal government, may cost as much as A$5 billion ($3.9 billion), according to one industry estimate.

China is the world's biggest consumer of iron ore, the raw material for manufacturing steel.

The past couple of months have featured a broad retracement of the metals complex, away from the recent highs.

Proxy adviser Glass Lewis criticised the firm for paying out bonuses in 2017, a year when two employees died at work.

Global iron ore miners have turned off the tap on adding new production capacity to feed China's steel mills.

The leak in the pipeline, which carries slurry to a port in Rio de Janeiro state, occurred on March 12 and forced the miner to suspend operations until March 27.

Uncertainty around the Mining Charter and ownership levels have deterred investment in a sector that accounts for 8% of the country's economic output.

India's Supreme Court in February quashed all iron ore mining permits in the southwestern state of Goa, one of the top producing states for the steel making raw material.

It said the leak of non-hazardous iron ore slurry was stopped within eight minutes and caused no disruption to local water supply.

New research centre has been established to help reduce the cost of mineral exploration in Australia in order to boost output.

Queensland's resources sector is powering jobs growth across the State with Australian Bureau of Statistics (ABS) data showing an increase of close to 10,000 jobs in the February quarter.

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