Tharisa to boost chrome output by nearly 50% in 3-5 yrs
South Africa’s Tharisa sees chrome production surging nearly 50% over the next few years from 2024’s record output, as the miner expands its Bushveld mining operations. Read More
S.Africa govt hopes to stop ArcelorMittal plant closure
South Africa's government is scrambling to prevent the closure of ArcelorMittal South Africa's long steel business, which potentially threatens tens of thousands of jobs. The steelmaker last week announced it would shut its long steel business, after a year of talks with the government to turn around the loss-making unit. Read More
ArcelorMittal to shut South Africa long steel business
ArcelorMittal South Africa (AMSA) has decided to close its loss-making long steel business and halt production by the end of the month, threatening thousands of jobs. The decision comes a year after the company first announced plans to place the operations into care and maintenance. This prompted engagements with the government wherein AMSA sought policy intervention to address structural issues affecting the business. Read More
New Zimbabwe steel mill rattles S. Africa competitors
South African steelmakers are growing anxious as a new steel mill in Zimbabwe appears poised to supply into the regional market at highly competitive rates. Read More
ArcelorMittal seeks govt help as plant faces closure
ArcelorMittal South Africa (AMSA) has called for the government to step in to save its loss-making long steel division from imminent closure as high costs and policy take a toll. Read More
Assmang may close S.A’s only ferro-manganese smelter
Assmang is considering closing Cato Ridge Works, South Africa’s only ferro-manganese (FeMn) smelter currently in operation, due to weak market conditions and increasing electricity costs. Read More
Weak demand dampens sentiment at Eurocoke
Falling European steel output, strong steel imports and ample availability of raw materials were major themes at the Eurocoke conference in Vienna last week. Market participants told McCloskey that poor demand from Europe and Asia was forcing United States coal miners to implement both production and wage cuts, while European buyers were contending with rising stockpiles at steel mills and terminals. Read More
ARM’s new smelting process shows promise in S. Africa
African Rainbow Minerals (ARM) has developed a smelting technology that uses 70% less energy with the aim to offset high electricity tariffs, increase production and resuscitate South Africa's ferroalloys industry. ARM has a 50/50 joint venture with Assore and together own iron ore, manganese and smelting operations in South Africa and Malaysia. Read More
S. Africa manganese miners face declining quality issue
South African manganese miners are seeing deteriorating quality in their opencast production and will soon face the decision on whether to expand underground at greater cost, industry officials said. South Africa, the world’s biggest manganese exporter, has seen the quality of its ore slowly decline from an average of 40% manganese content a decade ago to 37% currently, as the shallow surface of the Kalahari Basin begins to deplete, according to data from the International Manganese Institute (IMnI). Read More
Tshipi omits interim dividend amid manganese downturn
The board of South Africa’s Tshipi é Ntle manganese mine has decided not to pay a dividend to shareholders for the six months to 30 June due to the recent downturn in the global manganese market. Read More
Aveng mulls ownership changes for Tshipi contractor
International mining company Aveng plans to explore “alternative ownership options” for its South African-based Moolmans business, which is a key contractor for the Tshipi é Ntle manganese mine. Read More
Transnet, industry collaboration unlocks loco spares
Locomotive availability, one of the biggest hindrances to South Africa’s rail capacity, is showing signs of improvement thanks to increased collaboration between Transnet Freight Rail (TFR) and industry in obtaining critical spare parts. Read More
ArcelorMittal’s De Paula shares LatAm steel views
Brazil's steel industry is navigating a challenging time with high Chinese steel imports and slow investment in sectors such as infrastructure and manufacturing. In an exclusive interview at the AcoBrasil Congress in São Paulo, Jefferson De Paula, CEO of ArcelorMittal, South America, Long, shared his views with McCloskey’s Ranjana von Wendland on the industry and his company’s business in LatAm. Read More
High-grade manganese rally ends with 33% weekly drop
High-grade manganese prices tumbled 33% in one week, ending a four-month rally, as the market finally capitulated under weak demand and pressure from lower grade material. High-grade manganese ore dropped to $6.02/dmtu CIF Tianjin on Friday, compared to $8.97/dmtu in the previous week and the lowest since late April Read More
Glencore reports S. Africa losses on coal quality, rail
Glencore has written down its South African coal assets by $611m as the operations suffer quality issues and rail constraints. The mining and commodities trading group last week released its results for the half year ended in June, and swung into a $233m loss primarily due to impairments of which the South Africa coal write-downs were the largest. Read More
Port Elizabeth Aug manganese exports likely to fall 20%
Monthly manganese ore exports from South Africa’s Port Elizabeth, the industry’s main export hub, are expected to drop by nearly 20% in August compared with the previous month, due to easing seaborne prices. Read More
With lights back on, S.Africa embraces green transition
With South Africa’s power crisis now over, President Cyril Ramaphosa’s new government is again embracing an accelerated energy transition that could threaten future investment in the country’s coal industry. After two years struggling to keep the lights on, Eskom has gone more than 130 days without rotational power cuts, known as load shedding. The situation has improved so much that the state utility announced last week it had to cut operations because it was producing so much power. Read More
S.Africa’s manganese market oversupplied – Kudumane CEO
South Africa’s manganese market is oversupplied, and producers should more closely follow demand signals, as semi-carbonate prices tumble from this year’s highs, said Kudumane’s CEO. During a McCloskey manganese webinar last week, Kudumane CEO Thembelani Gantsho said the recent drop in semi-carbonate manganese ore prices indicated that demand fundamentals were not there to support such levels. Read More
Industry hits back at mooted raw ore export tax
The Minerals Council South Africa – the industry body representing 90% of mining production in South Africa - has hit back at the mining minister’s musings about implementing an export tax on raw ore. Read More
S. Africa’s Transnet set to receive $1bn ADB loan
South Africa's Transnet is set to receive a ZAR18.85bn ($1bn) corporate loan from the African Development Bank, providing much needed funding for the troubled state-run company to improve its rail operations. The 25-year loan fully guaranteed by the government of South Africa was approved by the bank's board of directors earlier this month. Read More
S. Africa imposes 9% import duty on hot-rolled steel
A provisional import tariff of 9% has been levied on hot-rolled steel coming into South Africa in a bid to protect ArcelorMittal SA (AMSA) from a flood of cheap Chinese imports. The application for tariff protection was lodged with the government’s International Trade Administration Commission (ITAC) in February by the South African Iron & Steel Institute (SASI) on behalf of AMSA, the country’s main primary steelmaker. Read More
Manganese market on edge after S. Africa rail line shut
Global manganese markets could rebound this week, supported by the shutdown of a key South African export rail line. Read More
Ramaphosa’s energy portfolio shift stokes confusion
President Cyril Ramaphosa’s decision to move the critical energy portfolio out of Gwede Mantashe’s hands to fall under Kgosientsho Ramokgopa has given rise to immense uncertainty and confusion over how energy matters will be split across the two ministries. Read More
ArcelorMittal S.Africa warns of losses amid poor market
ArcelorMittal South Africa (AMSA) has warned of widening interim losses amid tough trading conditions and operational issues at its hot-rolled steel plant. The steelmaker last week warned earnings losses for the six months ended in June could potentially quadruple as a result of difficult domestic and regional trading conditions; as well as the impact of operational interruptions of the two blast furnaces at flat steel plant in Vanderbijlpark. Read More
S. Africa president reappoints Mantashe mines minister
South African President Cyril Ramaphosa has announced his new Cabinet and reappointed Gwede Mantashe as mines minister, leaving him in charge of overseeing the coal and manganese industries but taking away Eskom from his portfolio. The new cabinet was eagerly anticipated following the formation of a Government of National Unity (GNU), which includes 11 political parties after the African National Congress lost its long-held majority in the national elections in May. Read More