martes, 26 de junio de 2018

Rio Tinto to start building massive Koodaideri iron ore mine in 2019

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Iron Ore News Digest
Wednesday 27 June 2018
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First production from the Pilbara-based project, which it says it's one of the world's most technologically advanced, is expected in 2021.

The company's withdrawal means all eyes are now on Fortescue, which still has a 19.9%-stake in Atlas and has not yet disclosed whether it plans to launch a rival bid or sell its holding into Hancock's offer.

The offer from Australian billionaire Gina Rinehart's Hancock Prospecting values Atlas shares at 17% more than price reached at Friday close.

POSCO was privatised in 2000, but chief executives have previously been replaced when a new administration takes office.

The Minerals Council South Africa said it does not support some elements in the latest draft of an industry charter.

Gwede Mantashe said that 20 out of 45 mining deaths reported since the start of 2018 have taken place at Sibanye-Stillwater's mining sites.

A week choc-a-bloc with billion dollar copper, iron ore and cobalt deals ends with huge drop in prices and sell-off in stocks of mining's biggest names.

The charter produced in 2017, drafted by previous Minerals Minister Mosebenzi Zwane, threatened as many as 100,000 jobs.

Resolving the legal cases will allow talks with creditors to begin as the company starts to draft its long-term business plan.

Vedanta is considering options including lay-offs for some of the 2,000 employees of its iron ore business that was shut down by a court.

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