Page 57 - Simandou News Today

Save Share If you were a Chinese official tasked with bringing down the price of iron ore, would your first thought be to build a greenfield mine far inland in west Africa? A mine, by the way, which the host government says must be connected to the distant coast through its own territory, which requires the construction of a 650-kilometre double-track railway with dozens of bridges and purpose-built tunnels, and then a huge wharf to reach waters deep enough for bulk carriers to dock, in readine...

Maintenance mostly over in Africa Most of the current round of refinery maintenance in Africa has been completed. However, South Africa’s Cape Town and Engen remain closed. ONGOING MAINTENANCE New and revised entries ** Ghana’s sole oil refinery, the Tema facility, has come back online after being shut in for a few weeks due to technical issues, a source close to the matter said March 22. “The refinery has resumed processing after days of some maintenance to correct some few issues,” th...

New and revised entries ** Ghanas sole oil refinery, the Tema facility, has come back online after being shut in for a few weeks due to technical issues, a source close to the matter said March 22. "The refinery has resumed processing after days of some maintenance to correct some few issues," the source said. The refinery went offline in late July, after having run through its reserves of crude. It then restarted in early January only to shut down again a month later. The CDU currently only...

China’s African iron ore strategy spells danger for Australia The Simandou iron ore deposit in West Africa has the potential to change the dynamics of the global iron ore market and put China in the driver’s seat. Apr 9, 2021 – 6.58pm Save Share With the iron ore price hovering around $US160 a tonne and Australia exporting about 20 million tonnes of ore from the Pilbara every week, the country is earning about $585 million a day from China. Thanks to rising demand from Chinese st...

By Reuters Staff 4 Min Read SAO PAULO (Reuters) -Brazilian federal prosecutors in Rio de Janeiro have rejected a complaint alleging corrupt practices by executives of Vale SA related to the Simandou mine in Guinea, the iron ore miner said in a securities filing on Monday. FILE PHOTO: The logo of the Brazilian mining company Vale SA is seen in Brumadinho, Brazil January 29, 2019. REUTERS/Adriano Machado/File Photo Federal prosecutors in Rio decided there were no grounds to open a criminal prose...

How China is moving beyond Australia for its iron ore hunger Matthew Hall 8 April 2021 (Last Updated April 7th, 2021 22:29) China has a seemingly endless hunger for iron ore but the countrys relationship with one of its primary providers, Australia, has been tenuous following the political fallout of the Covid-19 pandemic. We take a look at how China has been investing in other nations to meet this hunger and how it may affect t...

Rio frees Simandou, Oyu Tolgoi of tax haven taint Share Rio Tinto has moved to wind up three tax haven subsidiaries linked to its big growth projects in Mongolia and Guinea as Australian Taxation Office audits into its iron ore division continue. A $447 million dispute over the price at which Rio sold Australian iron ore to its Singapore marketing hub between 2010 and 2013 has simmered since being lobbed by the ATO in 2017 and Rio said on Thursday the ATO was still auditing accounts lodged afte...

ADVERTISEMENT ADVERTISEMENT Brazil Drops Investigation Over Guinean Mining Project Law360 (April 6, 2021, 7:40 PM EDT) -- An investigation in Brazil into Israeli billionaire Beny Steinmetzs allegations that Vale SA engaged in corruption with respect to a doomed Guinean mining project has been shelved, though a second investigation focusing on whether the company misled its investors over the project remains pending. The Brazilian federal public prosecutors office said in late March that it wi...

Iron ore bonanza to deliver until 2022 as supply squeeze lingers Australia’s biggest miners are poised to benefit from better-than-expected iron ore prices for at least the rest of the year as global ratings agency S&P upgrades its forecasts for the key steel-making raw material. After surging Chinese steel output in 2020 propelled iron ore prices to a 10-year high and delivered bumper returns to shareholders of BHP, Rio Tinto and Fortescue, S&P Global on Friday upgraded its price assumption ...

Iron ore’s ‘sleeping giant’ viable but grade challenge looms Save Share The “sleeping giant” of Australian iron ore would deliver a 10 per cent return on investment over the next two decades if the original $7.4 billion mine, rail and port plan were adopted, according to Wood Mackenzie analysis that warns product quality would be the project’s biggest challenge. Proponents of the long-dormant Australian Premium Iron (API) project – China’s Baowu, Koreaâ�...