Iron Ore – Page 6 – Republic of Mining

Some in Nunavut community question where money from mining company has gone – by Emma Tranter (CBC News North – April 29, 2022)

April 29, 2022

https://www.cbc.ca/news/canada/north/

Baffinland offering no details on how it spent $42.9 million in Sanirajak, pop. 850

A company that runs the largest mining operation in Nunavut says it has given tens of millions of dollars in contracts to Inuit firms in the hamlet of Sanirajak, but some residents say they don’t know where that money has gone.

An Oct. 18, 2021, memo from Baffinland Iron Mines, which runs the Mary River iron ore mine near Pond Inlet, summarizes community engagement with its neighbours. A section of the memo highlights direct benefits to Sanirajak, a community of about 850 people, including $42.9 million awarded to Inuit firms there since 2018.

Guinea junta halts Rio Tinto’s Simandou iron ore project – by Cecilia Jamasmie (Mining.com – March 11, 2022)

March 11, 2022

https://www.mining.com/

Guinea’s ruling junta has ordered a full halt of Rio Tinto’s (ASX, LON, NYSE: RIO) vast Simandou iron ore project in the country’s southeast, with interim president Mamady Doumbouya saying it is not clear how the mine will preserve national interests.

The current government, who took power in a military coup in September, said in a statement that Doumbouya had not seen any progress in that direction, despite having discussed the matter with Rio’s boss Jakob Stausholm in December.

Deadline for Mary River Phase Two expansion extended; lingering environmental concerns remain – by Trevor Wright (Nunavut News – February 14, 2022)

February 15, 2022

https://www.nunavutnews.com/

On Jan. 31, Baffinland Iron Mines filed its closing statement to the Nunavut Impact Review Board in support of its proposed phase two expansion of the Mary River Mine.

The proposed timeline for the Nunavut Impact Review Board (NIRB) to reach its decision and forward findings to the federal minister of Northern Affairs was 45 days from Baffinland’s closing statement being submitted. However, due to the “overwhelming’”quantity of information to digest, the regulatory body concluded an additional 60 days is required.

COLUMN-Iron ore fundamentals appear at odds with Beijing’s lower price wish – by Clyde Russell (Nasdaq.com – February 10, 2022)

February 11, 2022

https://www.nasdaq.com/

LAUNCESTON, Australia, Feb 10 (Reuters) – China is once again trying to talk down the price of iron ore, with the state planner warning that market players “should not fabricate or publish any false price information.”

The problem for the authorities in Beijing is that iron ore prices seem perfectly capable of rallying on actual supply and demand fundamentals.

China’s plan to end its Australian iron ore dependency – by Michael Smith (Australian Financial Review – December 2, 2021)

December 3, 2021

https://www.afr.com/

Tokyo | China will boost domestic iron ore production by 30 per cent, significantly ramp up investments in overseas mines and strengthen scrap steel recycling under a plan designed to break Beijing’s dependency on Australia’s most valuable commodity export.

China’s top steel industry executives and senior government officials outlined a strategy for achieving the five-year targets in an article published this week, which highlights the Chinese government’s frustration with volatile iron ore prices and its desire to follow Japan’s lead by investing heavily in offshore mines.

Greenland strips Chinese mining firm of licence to iron ore deposit (South China Morning Post – November 23, 2021)

November 23, 2021

https://www.scmp.com/

Greenland said on Monday it has stripped a Chinese mining company of its licence to an iron ore deposit near the capital Nuuk, dealing a blow to attempts by Chinese companies to gain a foothold on the resource-rich Arctic island.

General Nice, a Chinese coal and iron ore importer, took control of the Isua mine project in 2015, replacing previous owner London Mining, which went bankrupt.

Vale unit to invest US$800mn in dry iron ore processing technology (bnamericas.com – November 9, 2021)

November 15, 2021

https://www.bnamericas.com/en/

Brazilian iron ore mining giant Vale, through its tech subsidiary New Steel, signed a protocol of intent with southeast state Minas Gerais to invest 4.4bn reais (US$795mn) in technology that eliminates the need for tailings dams.

The funds will be used to implement an innovative dry iron ore processing technology that drastically reduces the environmental impact and extends the life of mines, the state government said in a release. The process also will also create jobs and more revenue for three municipalities, it added.

Mining magnate Gina Rinehart looks to expand iron ore empire into WA’s Goldfields region – by Jarrod Lucas (Australian Broadcasting Corporation – November 15, 2021)

November 15, 2021

https://www.abc.net.au/

Mining magnate Gina Rinehart has struck a deal to buy into an iron ore project in WA’s northern Goldfields, further expanding her iron ore empire which includes the Roy Hill mine in the Pilbara.

A subsidiary of Ms Rinehart’s Hancock Prospecting has struck a deal to form new joint venture agreement with the owners of the Mt Bevan project, 100 kilometres west of Leonora.

Fortescue Metals Group warns of further iron ore price volatility, Twiggy defends ‘crazy’ green ambitions – by Rebecca Le May (News.com.au – November 9, 2021)

November 9, 2021

https://www.news.com.au/

Fortescue Metals Group has defended its “crazy” green ambitions, saying the bold plans are a commercial imperative, not just environmental.

The miner’s new Fortescue Future Industries division has been inking deals around the world to look into massive “green” hydrogen and renewable energy projects, with founder and chair Andrew ‘Twiggy’ Forrest flagging potential costs worth more than $US100bn ($134.6bn).

Hearings on Baffinland expansion in Nunavut close with criticism from Pond Inlet – by Jane George (CBC News Canada North – November 6, 2021)

November 8, 2021

https://www.cbc.ca/news/canada/north/

After three years, four hearings, two cancellations and other restrictions imposed by COVID-19, the fate of Baffinland Iron Mines Corporation’s proposed Mary River expansion project is now in hands of the Nunavut Impact Review Board (NIRB).

The most affected Nunavut community does not embrace the mining company’s plans for growth. “We don’t want to sacrifice our culture and tradition for jobs and benefits,” said Enookie Inuarak, of Pond Inlet’s hunters and trappers organization, on the final day of the NIRB hearing in Iqaluit.

Pond Inlet woman’s barrage of criticism shakes up Baffinland hearings – by Jane George (CBC News Canada North – November 4, 2021)

November 5, 2021

https://www.cbc.ca/news/canada/north/

A Pond Inlet, Nunavut, woman managed to lambaste the Baffinland Iron Mines Corp. on several fronts Wednesday, despite being about 1,000 kilometres north of the Nunavut Impact Review Board hearing underway in Iqaluit.

Anita Uuttuvak sat alone in a chair in front of a microphone, while speaking by videoconference in her home community. She looked straight into the camera, and spoke in Inuktitut and English about the mining company and its proposed expansion of the Mary River iron mine, now in its final assessment by regulators.

Baffinland works to woo support for its iron mine expansion in 1st day of community roundtables – by Jane George CBC News Canada North – November 3, 2021)

November 4, 2021

https://www.cbc.ca/news/canada/north/

Baffinland Iron Mines Corporation hopes to smooth the way forward for its expanded Mary River iron mine proposal during this week’s Nunavut Impact Review Board (NIRB) hearings in Iqaluit. But concerns over wildlife and the mine’s overall impact surfaced during the first day of community roundtable sessions held in Iqaluit, and remotely from Pond Inlet, Nunavut.

These contrasted with the mining company’s promises of increased environmental controls, more involvement for Inuit and attention to traditional knowledge, community improvements — and new cash for the community.

Green light on expansion of Baffinland’s Mary River mine ‘critical,’ company says – by Jane George (CBC News Canada North – November 2, 2021)

November 3, 2021

https://www.cbc.ca/news/canada/north/

Baffinland Iron Mines Corp. says mine could go into care and maintenance if expansion is denied

The next five days of hearings under the Nunavut Impact Review Board could prove critical to the future of the Mary River iron mine.

Baffinland, which owns the mine, is looking to come out of the review in Iqaluit with a positive recommendation for its Phase 2 expansion. This could lead to the federal northern affairs minister to grant a new project certificate to the mine, with conditions.

Fortescue iron ore shipments hit all-time high – by Michael Philipps (Australian Mining – October 28, 2021)

October 29, 2021

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Fortescue Metals Group has reported record first quarter iron ore shipments of 45.6 million tonnes (Mt), a three per cent increase on the same period last year.

Ore processed and railed also achieved record first quarter volumes, reflecting strong operational performance across the supply chain and expanded system capacity following the ramp up of Eliwana.

Iqaluit city councillor calls for support of Baffinland mine expansion – by David Venn(Nunatsiaq News – October 28, 2021)

October 29, 2021

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Iqaluit Coun. Kyle Sheppard says he plans to take another run at persuading his council colleagues to support the proposed expansion of the Mary River iron mine.

Baffinland Iron Mines Corp. wants to build a 110-kilometre railway from its Mary River mine to Milne Inlet, double its iron ore shipments through the Tallurutiup Imanga marine conservation area and add another dock to its port.