Mining News Pro - Chadormalu Mining and Industrial Company recorded a significant income in 8 months of this year with of 373 thousand billion Rials.
Thursday, November 30, 2023 - 12:21:53
Mining News Pro - The company has held talks with the government over the potential reduction in its workforce, the people said, asking not to be identified because the matter hasn’t been made public. Senior government officials asked the company to consider delaying the cuts until after elections likely to take place around May, three of the people said. SIGN UP FOR THE IRON ORE DIGEST The Congress of South African Trade Unions said that Anglo has also spoken to one of its members, the National Union of Mineworkers, about the matter. The job cuts would be another blow to the electoral prospects of President Cyril Ramaphosa and his ruling African National Congress. Anglo is already in the midst of plans to slash corporate and head office jobs globally, with many of those positions in South Africa. The company joined other mining behemoths in posting a steep drop in first-half profit as China’s economic slowdown damped earnings. Anglo American Platinum Ltd. — about 79% owned by London-based Anglo — is contending with a 14% fall in the price of platinum this year and a 41% plunge in palladium, a valuable byproduct. Rival Sibanye Stillwater Ltd. said in October that it may fire more than 4,000 platinum workers. Kumba Iron Ore Ltd., owner of South Africa’s biggest iron ore mine and a 70% subsidiary of Anglo, said third-quarter iron ore sales fell 12% from the year earlier, largely because of the poor performance of state ports and freight rail company, Transnet SOC Ltd. The company is almost out of storage space for the ore it has mined and can’t rail it, one of the people said. “It is no secret that the current operating environment is very tough for both macro and South Africa-specific reasons and we are playing a major role in working across business and with government to help resolve some of those South Africa constraints,” Anglo said in a response to queries. “Beyond that, it would be inappropriate for us to comment on the details of our discussions.” While a final decision on whether to fire workers and how many positions may be affected has not been taken, the job cuts may impact Anglo American Platinum first, the people familiar said. Those at Kumba may be deferred until later, they added. The minerals department didn’t respond to a request for comment, while Gwede Mantashe, minerals and energy minister and chairman of the ANC, didn’t answer a call to his phone or respond to a text message. PGM prices are falling because of global economic conditions, especially the weaker-than-expected recovery in China. Kumba’s woes are directly related to the sub-standard performance of Transnet, whose inability to rail commodities to ports has also led to coal companies Seriti Resources Holdings Ltd. and Glencore Plc to start talks over job cuts. The plunge in rail performance has seen the amount of iron ore transported to ports fall to the lowest in a decade, while coal shipments by rail are at a 30-year low, according to a report prepared for Ramaphosa’s office. In an Oct. 24 production report, Kumba said “ongoing rail and port challenges have increased our focus on cost optimization and initiatives to match production and optimize logistics capacity.” It said it had 9 million tons of iron ore in stock at the end of September, almost double the amount it had on site a year earlier.
Saturday, November 25, 2023 - 22:07:11
Mining News Pro - Russia’s Nornickel will pay $18 million to pass its 50% stake in Nkomati nickel mine in South Africa to its partner African Rainbow Minerals (ARM), ARM said on Friday, ending years of Nornickel’s attempts to exit Africa.
Friday, November 24, 2023 - 22:03:38
Mining News Pro - A union representing train drivers at BHP’s Pilbara iron ore operations in Western Australia has withdrawn industrial action ahead of an updated employment offer from the mining giant, a union representative told Reuters on Friday.
Friday, November 24, 2023 - 22:02:24
Mining News Pro - An electro-fuel aimed at vehicles that are difficult to electrify has been produced from green hydrogen and carbon dioxide.
Friday, November 24, 2023 - 21:55:32
Mining News Pro - With the intelligent management of Chadormalu Mining and Industrial Company, the daily production of steel ingots with export quality exceeded 5555 tons.
Thursday, November 30, 2023 - 12:33:42
Mining News Pro - As the auto industry grapples with how to make affordable EVs, the task may get easier by one key metric. Battery prices are resuming a long-term trend of decline, following an unprecedented increase last year.
Monday, November 27, 2023 - 22:22:03
Mining News Pro - Aluminum steadied, bucking a broader slide among industrial metals, with traders focusing on a likely shortfall in supply of the metal next year amid constraints on Chinese supply.
Monday, November 27, 2023 - 22:20:23
Mining News Pro - Canada’s First Quantum intends to start arbitration against Panama, the Central American nation’s trade ministry and the company said on Sunday, as Panama’s top court considers annulling a copper contract that opponents call unfair.
Monday, November 27, 2023 - 22:17:00
Mining News Pro - Depleting ore grades of cobalt deposits at Glencore’s Mutanda mine in Congo means the miner will produce up to 15% less a year of the battery metal, three sources with knowledge of the matter said.
Monday, November 27, 2023 - 22:15:44
Mining News Pro - Canada’s Silvercorp Metals (TSX, NYSE: SVM) surprised the market on Thursday by increasing its cash offer for African gold developer OreCorp (ASX: ORR) by A$20 million ($13m).
Thursday, November 23, 2023 - 22:27:19
Mining News Pro - Fourteen informal gold miners were killed in a tunnel collapse in Suriname on Monday afternoon on a concession belonging to a subsidiary of Chinese state miner Zijin Mining, a Surinamese official said.
Wednesday, November 22, 2023 - 23:23:48
Mining News Pro - The global copper market will face a glut next year, according to one of China’s biggest traders of the metal, which will likely lead to further declines in the commodity that’s vital to the energy transition.
Thursday, November 16, 2023 - 18:21:41
Mining News Pro - Sigma Lithium reported on Wednesday a revenue of $97 million for the third quarter of 2023, marking the company’s first revenue-generating quarter.
Wednesday, November 15, 2023 - 18:09:31
Mining News Pro - Copper futures rose 0.3% to $8,162.50 as of 11:03 a.m. in New York.
Friday, November 10, 2023 - 18:34:33
Mining News Pro - The head of Imidro's executive board emphasized on the increase of exploration activities in Chadormalu company and said: the development path of this complex goes through exploration.
Thursday, November 30, 2023 - 12:32:26
Mining News Pro - A company whose application for a coal mine in Alberta was rejected two years ago is back – with a new name, and an updated request to explore its lease in the eastern foothills of the Rocky Mountains.
Friday, November 24, 2023 - 21:59:18
Mining News Pro - A trade meeting between the US and European Union due to take place next month is expected to slip to early next year as the two allies remain deadlocked in talks about steel and critical minerals.
Thursday, November 23, 2023 - 22:39:26
Mining News Pro - China exported small amounts of two minerals crucial to high-tech manufacturing in October, marking a resumption in sales after a two-month hiatus caused by Beijing’s restrictions.
Thursday, November 23, 2023 - 22:31:56
Mining News Pro - Some of the world’s biggest investors are throwing their weight behind a plan to reform the mining industry so it can safely meet the growing demand for minerals and metals needed for the green transition.
Wednesday, November 22, 2023 - 23:19:13
Mining News Pro - Chadormalu Mining and Industrial Company recorded a significant income in 8 months of this year with of 373 thousand ...Thursday, November 30, 2023
Mining News Pro - The company has held talks with the government over the potential reduction in its workforce, the people said, asking not ...Saturday, November 25, 2023
Mining News Pro - Russia’s Nornickel will pay $18 million to pass its 50% stake in Nkomati nickel mine in South Africa to its partner ...Friday, November 24, 2023
Mining News Pro - A union representing train drivers at BHP’s Pilbara iron ore operations in Western Australia has withdrawn industrial ...Friday, November 24, 2023
Mining News Pro - With the intelligent management of Chadormalu Mining and Industrial Company, the daily production of steel ingots with ...Thursday, November 30, 2023
Mining News Pro - As the auto industry grapples with how to make affordable EVs, the task may get easier by one key metric. Battery prices ...Monday, November 27, 2023
Mining News Pro - Aluminum steadied, bucking a broader slide among industrial metals, with traders focusing on a likely shortfall in supply ...Monday, November 27, 2023
Mining News Pro - Canada’s First Quantum intends to start arbitration against Panama, the Central American nation’s trade ministry and the ...Monday, November 27, 2023
Mining News Pro - Canada’s Silvercorp Metals (TSX, NYSE: SVM) surprised the market on Thursday by increasing its cash offer for African gold ...Thursday, November 23, 2023
Mining News Pro - Fourteen informal gold miners were killed in a tunnel collapse in Suriname on Monday afternoon on a concession belonging ...Wednesday, November 22, 2023
Mining News Pro - Iron ore futures erased earlier losses and are set for their fifth weekly gain on Friday as property support-led optimism ...Saturday, November 25, 2023
Mining News Pro - A trade meeting between the US and European Union due to take place next month is expected to slip to ...
Mining News Pro - South African President Cyril Ramaphosa has authorized the deployment of 3,300 army personnel to help ...
Mining News Pro - At least 32 people have died and 14 remain missing after a mine fire in Kazakhstan, the Ministry for ...
Mining News Pro - Miner and trader Glencore is set to close its three underground copper mines in Mount Isa by the end ...
Mining News Pro - The world’s metal traders are enduring one of their toughest periods in years, even as an ...
Mining News Pro - This morning, one of the miners of the Chahar Gonbad mine (affiliated to the Ncicio) in this city had ...
Mining News Pro - In the 7th National Quality Conference, Gol Gohar won the title of the “Supporting and leading company ...
Mining News Pro - Copper stockpiles immediately available to withdraw from the world’s top metals bourse hit the highest ...
Mining News Pro - The twelfth visit of Midco company's projects in the current year was conducted by Ali Asghar ...
Mining News Pro - The head of Imidro's executive board emphasized on the increase of exploration activities in ...
Mining News Pro - Amin Ebrahimi said that the resilience of the country's steel industry has reached an alarming limit ...
Mining News Pro - The 19th International Metallurgy Exhibition (IranMetafo) was held at the permanent location of Tehran ...
Mining News Pro - Middle East Mines and Mineral Industries Development Holding Company received the social ...
Mining News Pro - National Iranian Copper Industries Company has been listed among the top 10 companies in IMI-100 ...
Mining News Pro - The country's mining sector is far behind in terms of mineral exploration and the bureaucracy, lack of ...
Mining News Pro - HOSCO received the customer satisfaction award in the Eleventh Conference of Customer satisfaction in ...
Mining News Pro - The copper market has cooled since touching record levels above $10,000 a tonne in May, but ...
Mining News Pro - One hundred and sixty-fifth production session with the presence of Midco CEO, managers and ...