Home » Posts tagged 'iron ore'

Tag Archives: iron ore

Iron ore price leaps into 2021 – Mining Dot Com

Iron ore prices started the new year with a bang on Monday as unprecedented demand from China counteracted government calls for sharp cuts in the country’s steel output.

According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $165.29 a tonne on Monday, up 3% on the day. In December, the steelmaking raw material hit its highest level since September 2011 after gaining nearly 80% during the year.

“Impact from the pandemic (on iron ore) was not as pessimistic as the market expected,” Zhuo Guiqiu, analyst with Jinrui Capital told Reuters: “The big jump came after Vale lowered its shipments expectations and a robust Chinese steel demand in the fourth quarter.”

China is expected to have forged more than 1 billion tonnes of crude steel in 2020 and imports of iron ore are also running at record levels of more than 1 billion tonnes per annum.

Link to Mining.com to view the full article

Cadence Minerals #KDNC CEO Kiran Morzaria discusses the latest updates at the Amapa Iron Ore Project on the Vox Markets podcast

Cadence Minerals #KDNC CEO Kiran Morzaria discusses the latest updates at the Amapa Iron Ore Project with Justin Waite on the Vox Markets podcast. Link on the image to go to the podcast link.

~Bank Creditor Settlement

~Operational Progress

~21% increase in Mineral Resource Estimate to 176.7Mt Fe

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) files Technical Report for Lake Giles Magnetite Mineral Resource.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has filed the technical report for the magnetite Mineral Resource update for its 100% owned Lake Giles Iron Project (”the Project”) in Western Australia. 

Highlights: 

·       Macarthur Minerals files NI43-101 Technical Report for the magnetite Mineral Resource at its Lake Giles Iron Project

·       Measured Mineral Resources totaling 53.9 Mt and Indicated Mineral Resources of 218.7 Mt

·       Inferred Mineral Resource of 997.0 Mt

·       Macarthur now has sufficient Mineral Resources in the appropriate categories to progress its Feasibility Study. 

The independent technical report, entitled “NI43-101 Technical Report, Magnetite Mineral Resource, Lake Giles Magnetite Project, Western Australia (“2020 Technical Report”) with an issue date of September 29, 2020 was prepared in accordance with the requirements of National Instrument 43-101 (“NI 43-101”).  The 2020 Technical Report is filed under the Company’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) website at www.sedar.com (filing date: October 1, 2020) and on the Company’s website at www.macarthurminerals.com . 

The Technical Report was completed by independent geological consultants CSA Global Pty Ltd (CSA Global). 

The previous Mineral Resource estimates presented to the market between 2009 and 2019 consisted entirely of Inferred resources, including 710 million tonnes (“Mt”) at the Moonshine deposits. During 2019 the Company completed a program of infill drilling across some of the Moonshine deposit to upgrade the Mineral Resource category to include Indicated and Measured resources.  The Mineral Resource upgrade has delivered sufficient resources in the appropriate categories to underpin the current Lake Giles Iron Project Feasibility Study. 

The updated Mineral Resource estimates incorporate the recent drill assays and has resulted in an increase in the size of the Moonshine mineral resources, including resource category upgrades to now include Measured and Indicated resources. Approximately 30% of the Moonshine resource is now classified as Indicated with approximately 7.5% classified in the Measured category. 

Highlights of Mineral Resource estimates: 

·       Measured resources of 53.9 Mt at 30.8% Fe head grade and 66.0% Fe DTR concentrate grade

·       Indicated resources of 218.7 Mt at 27.5% Fe head grade and 66.1% Fe DTR concentrate grade

·       Inferred resources of 997.0 Mt at 28.4% Fe head grade and 64.6% Fe DTR concentrate grade 

The full release can be found at: https://money.tmx.com/en/quote/MMS/news/8689535428398925/Technical_Report_for_Lake_Giles_Magnetite_Mineral_Resource 

Cadence Minerals Holding in Macarthur 

Cadence holds approximately 2% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

This news release is not for distribution to United States Services or for Dissemination in the United States. 

– Ends –

For further information:
Cadence Minerals plc                                                   +44 (0) 7879 584153
Andrew Suckling Kiran Morzaria   

WH Ireland Limited (NOMAD & Broker)                +44 (0) 207 220 1666
James Joyce James Sinclair-Ford   

Novum Securities Limited (Joint Broker)               +44 (0) 207 399 9400
Jon Belliss  

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as ”believe” ”could” “should” ”envisage” ”estimate” ”intend” ”may” ”plan” ”will” or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.

Iron Ore: Soaring And Roaring

Iron Ore: Soaring And Roaring

by Angelique Thakur, FN Arena

China’s economic growth strategy will be dominated by steel-intensive sectors and have led to a rebound in iron ore prices; Simandou’s impact on iron ore prices in the medium to long term.

-Implications of the China-led steel demand rebound 
-The Simandou project: a potential flashpoint
-Iron ore stocks to consider

The rebound in China’s steel demand, considerably faster than expected, has left Macquarie analysts surprised. But that’s not all. Citi economists expect China to set a growth target of 5.5% in its 14th five-year plan. Admittedly, it is less than the 6.5% rate of growth aimed for by China in its 13th five-year plan. But, as Citi points out, indicates moderation as opposed to collapse of growth as was feared.

China has also indicated this growth will mostly be led by its domestic market. But what pleases Citi is the how of it. It looks like China will be focusing on developing its infrastructure. In particular, steel-intensive sectors like infrastructure, property, and automotive will be the key pillars for China’s economic growth.

This leads Citi analysts to expect steel end-use demand to increase by 1-2% (year on year) per annum during 2021-23 versus the -1% decline that was forecast earlier.

There’s more. Macquarie points towards a steel demand recovery in the US, EU and Indian markets. According to Macquarie, the three catalysts for iron ore and steel include a continued recovery in the auto sector, stimulus by countries like China (focused on infrastructure development) and new proposed construction guidelines in China that could boost steel intensity in buildings (although there is no firm timeline for this).

Link here to read the full article

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) Esperance Bulk Port Rail Unloading Solution Advances with RCR Mining Technologies.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has provided an update on its continued progress towards completing its route to market for the flagship Moonshine magnetite deposits at Lake Giles.  Following the recent engagement of RCR Mining Technologies Pty Ltd (“RCR MT”) to provide a conceptual engineering and design solution for rail transport and unloading infrastructure of magnetite concentrate at the Port of Esperance, Macarthur and RCR MT completed a site visit to the port on 27 August 2020 in conjunction with representatives from Southern Ports Authority and Arc Infrastructure.

Highlights:

  • Macarthur and RCR Mining Technologies (“RCR MT”) have completed a site visit to the Port of Esperance in conjunction with representatives from Southern Ports Authority and Arc Infrastructure.
  • Subject to approval by Southern Ports Authority, RCR MT’s cutting edge ‘Helix Dumper Wagon’ (“Helix Dumper”) transport solution for Lake Giles Iron Project can be developed within the Port envelope at Esperance.
  • Macarthur’s market-lead proposal for the development of the Helix Dumper solution will allow optimisation of existing Berth 3 ship-loader capacity at the Port of Esperance, enhancing its current performance from the current 2,220tph throughput to over 4,500tph capacity.
  • RCR MT expects to complete its engineering design report on the Port of Esperance unloading infrastructure within weeks, creating a pathway (in collaboration with Southern Ports Authority and Arc Infrastructure) to select a preferred development option for the new rail unloading infrastructure system.
  • Reaching agreement on a preferred development option for the Helix Dumper and connected conveyor path will deliver the next material piece of the rapidly emerging ‘route to market’ solution for Macarthur’s Lake Giles Iron Project.

Following completion of the engineering design report by RCR MT in coming weeks, Macarthur will be engaging with key stakeholders to endeavour to agree a preferred option for the development of unloading infrastructure at the Port.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7383599247169787&qm_symbol=MMS

Macarthur President and Executive Chairman Cameron McCall commented: “Macarthur is continuing to forge ahead with a systematic approach to delivering every component of the infrastructure pathway that is necessary to bring Macarthur’s Lake Giles Iron Project into production and to see the first ore go over the ship’s rail.  The Board is confident that it has a Management team with the unique commercial and technical capabilities to get this over the line and take advantage of the current strength and resilience of the global iron ore market. 

There is a very real concerted energy building around the Lake Giles Iron Project and the Company is exceptionally excited to be working collaboratively with the great teams at Southern Ports Authority, RCR MT, Arc Infrastructure and above rail service providers to introduce cutting edge ‘Helix Dumper’ technology to the Port of Esperance.

With the added capacity that the ‘Helix Dumper’ technology can deliver, the Company considers that there is a real potential to facilitate increased trade through the Port of Esperance and to contribute to the future economic growth and job security for workers at the Port and in the Goldfields region.  Macarthur welcomes the opportunity to be part of that story and to contribute a positive legacy for the State of Western Australia.” 

Cadence Minerals Holding in Macarthur

Cadence holds approximately 2.2% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

This news release is not for distribution to United States Services or for Dissemination in the United States. 

– Ends –

For further information:Cadence Minerals plc                                                   +44 (0) 7879 584153Andrew Suckling Kiran Morzaria   WH Ireland Limited (NOMAD & Broker)                                +44 (0) 207 220 1666James Joyce James Sinclair-Ford   Novum Securities Limited (Joint Broker)                                +44 (0) 207 399 9400Jon Belliss  

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

Forward-Looking Statements:Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as ”believe” ”could” “should” ”envisage” ”estimate” ”intend” ”may” ”plan” ”will” or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.

Cadence Minerals #KDNC – Interim Results

Cadence Minerals plc (AIM/NEX: KDNC), is pleased to announce its interim results for the six months ended 30 June 2020.

The effects of the COVID-19 pandemic have been deep and fundamental. The pandemic has driven huge changes in the way we work and live the long-term effects of which are hard to predict with any great degree of accuracy. The reaction by governments around the world has for the large part involved economic stimuli with central banks cutting interests and the launch of huge quantitative easing schemes.  

It is the latter, and in particular, the stimulus packages in China that have been beneficial to our investment portfolio. . China’s impact in relation to the rapid increase in iron ore prices has been clear. It is still the world’s biggest buyer of industrial commodities, and the vast majority seaborne trade in iron ore goes there. Indeed, in the first week of June, China’s steel blast furnaces were operating at 92% of capacity, which is above the 80-85% rates considered normal. Currently, indicators of construction activity look strong and a pipeline of orders had already been building before the pandemic struck. In its aftermath, construction has been given an extra push by the Chinese Government’s stimulus package.[1]

With this macroeconomic background, the directors believe that  the Company’s investments have performed well. A detailed review of which was recently published in the annual report released in June 2020 and in further announcements subsequent to this date. We have provided some of the highlights from our investments over the period below.

The Company also raised £1.25 million of new funds (before expenses) from new and existing investors as announced on 21st August. These funds were raised for general working capital and to provide flexibility to the Company to repay loan notes from cash reserves rather than from its holdings in quoted investments. 

HIGHLIGHTS

Amapa, Iron Ore Mine (“Amapa”) 

· Amapa was owned by Anglo American plc and Cliffs Natural Resources and consists of a large-scale iron ore mine, beneficiation plant, railway, and private port.  In 2012 the operation produced 6.1 Mt of iron ore concentrate and reported operating profits from their 70% ownership in the Amapá Project of US$120 million (100% – US$171 million). Before its sale in 2012, Anglo American valued its 70% stake at US$462m in its 2012 Annual Report (100% – US$600m).

· The remaining major precondition for Cadence to make its initial investment into Amapa requires DEV Mineraço S.A’s (“DEV”) to reach a settlement agreement with the secured bank creditors (“Bank Creditors”). On completion of the conditions and the release of the Cadence escrow monies, Cadence will become a 20% shareholder in Amapa via our joint venture company which will own 99.9% of DEV.

· DEV, Cadence and Indo Sino Pty Ltd (“the Investors”) have continued a constructive dialogue with the secured the Bank Creditors, and the parties are currently negotiating the settlement terms as proposed by the Bank Creditors.

· Iron Ore Stockpile Shipment – as announced on the 21 August – Companhia Docas de Santana (“CDSA”), a public (municipal) company and the port operator requested some additional non-statutory contractual requirements and undertakings. DEV has provided the requested documentation and continues to liaise with the State of Amapa and SEMA (Secretaria de Estado de Meio Ambiente). Cadence understands that SEMA will provide the required documentation imminently. Cadence will provide an update once the first shipment is underway.

European Metals Holdings Limited (“EMH”)

 · In late April 2020, EMH advised that shareholders had approved the investment of EUR 29.1 million by CEZ a.s. (“CEZ”) for a 51% equity interest in Geomet, EMH’s Czech subsidiary and holder of the Cinovec licenses at the Extraordinary General Meeting held on 23 April 2020. The investment of EUR 29.1 million will see the Cinovec project fully funded to the decision to construct.

· In June 2020, EMH   European Metals advised that the Czech Ministry of the Environment had granted Geomet an updated Preliminary Mining Permit related to the Eastern part of the Cinovec deposit. The permit was issued for a period of 8 years. A Preliminary Mining Permit is a necessary legal pre-qualification before obtaining a Final Mining Permit and guarantees EMH the priority right to apply for and obtain a Final Mining Area and a Final Mining Permit.

Macarthur Minerals (“Macarthur”)

· Announced Moonshine Magnetite Mineral Resource upgrade 

· RCR Mining Technologies appointed to examine rail unloading infrastructure solution at Esperance Port

· Proposal for development of a Commercial Track Access Agreement received from Arc Infrastructure

· lodgement of applications for land access to develop a 93km haul road from its Lake Giles Iron Project to a proposed rail siding adjacent to the Perth to Kalgoorlie rail line 

· Finalisation of land tenure agreement for the development of its proposed Magnetite processing plant at Lake Giles

Bacanora Lithium Plc (“Bacanora”)

· Cadence owns a 30% stake in the Mexalit S.A. de CV (“Mexalit”) joint venture which forms part of the Sonora Lithium Project in Northern Mexico. 

· In late May 2020, Bacanora provided an update which included. The Sonora government continues to maintain measures to prevent the spread of Covid-19 which meant Bacanora’s Hermosillo pilot plant was placed in care and maintenance in late March 2020 after shipping samples to its engineering partners in order to maintain the Front End Engineering Design schedule. The pilot plant will remain closed until conditions are considered safe, and the Government lifts its restrictions. 

· As a result of the return to work in China in late April 2020, the Ganfeng lithium test plant and project team resumed work on the Sonora flowsheet optimisation and process engineering. After the completion of the flow sheet engineering Ganfeng will provide Bacanora with an Engineering, Procurement and Construction style engineering proposal to produce downstream battery-grade lithium products from the Sonora Lithium Project. 

Yangibana Rare Earth Project

· Cadence owns 30% of 3 Mining Leases, 6 Exploration Licences which form part of the Yangibana Rare Earth Deposit. Hastings Technology Metals owns the remaining 70%. 

· Hasting’s signed long term binding Master Agreement with German Automotive Tier 1 supplier, Schaeffler technologies AG. Hasting’s obligation is to supply a substantial volume of MREC over an initial period of 10 years 

· Total Yangibana Project CAPEX revised to A$449m from A$517mresulting in 13% or A$68M reduction in CAPEX based on Hydrometallurgical Plant relocation to the Pilbara 

FINANCIAL RESULTS:

During the period the Group made a loss before taxation of £1.26 million (6 months ended 30 June 2019: £0.29 million year ended 31 December 2019: £2.27 million). There was a weighted basic loss per share of 1.336p (30 June 2019: 0.331p, 31 December 2018: 2.544p).  As a result of unrealised foreign exchange differences, comprehensive loss for the period was £1.42 million (30 June 2019: £0.24 million, 31 December 2019: £2.04 million).

The total assets of the group decreased from £18.77 million at 31 December 2019 to £17.89 million. Of this amount £0.37 million represent the market value of our investments at the period end. Borrowings were reduced from £2.98m at 31 December 2019 to £2.08m at 30 June 2020.

During the period our net cash outflow from operating activities was £0.67 million, and our net cash position was up £0.12 million at £2.38 million.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information:

Cadence Minerals plc+44 (0) 7879 584153
Andrew Suckling 
Kiran Morzaria 
  
WH Ireland Limited (NOMAD & Joint Broker)+44 (0) 207 220 1666
James Joyce 
James Sinclair-Ford 
  
Novum Securities Limited (Joint Broker)+44 (0) 207 399 9400
Jon Belliss

Link here for the group financial statements

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) Moonshine Magnetite Resource Upgrade

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has presented an updated Mineral Resource estimate for the magnetite deposits at its Lake Giles Iron Project in Western Australia, which has been completed by CSA Global Pty Ltd (CSA Global).

Highlights:

  • RCR Mining Technologies (subsidiary of NRW Holdings ASX: NRH) appointed to examine rail unloading infrastructure solution at Esperance Port
  • Macarthur Minerals announces a resource upgrade for the Moonshine magnetite deposit at Lake Giles
  • Measured Mineral Resource of approximately 53.9 Mt and Indicated Mineral Resources of 218.7 Mt
  • Macarthur now has sufficient resources in the appropriate categories to progress its Feasibility Study
  • Resource upgrade follows recently announced Proposal for development of a Commercial Track Access Agreement received from Arc Infrastructure and the announcement of plans to develop haul road and rail siding infrastructure near Lake Giles

The previous Mineral Resource estimates presented to the market between 2009 and 2019 consisted entirely of Inferred resources, including 710 million tonnes (“Mt”) at the Moonshine deposits. During 2019 the Company completed a program of infill drilling across some of the Moonshine deposit to upgrade the Mineral Resource category to include Indicated and Measured resources.  The Mineral Resource upgrade has delivered sufficient resources in the appropriate categories to underpin the current Lake Giles Iron Project Feasibility Study.

The updated Mineral Resource estimates incorporate the recent drill assays and has resulted in an increase in the size of the Moonshine mineral resources including resource category upgrades to now include Measured and Indicated resources. Approximately 30% of the Moonshine resource is now classified as Indicated with approximately 7.5% classified in the Measured category.

Highlights of Mineral Resource estimates:

  • Measured resources of 53.9 Mt at 30.8% Fe head grade and 66.0% Fe DTR concentrate grade
  • Indicated resources of 218.7 Mt at 27.5% Fe head grade and 66.1% Fe DTR concentrate grade
  • Inferred resources of 997.0 Mt at 28.4% Fe head grade and 64.6% Fe DTR concentrate grade.

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7494834321094164&qm_symbol=MMS

Macarthur President and Executive Chairman Cameron McCall commented: “The completion of the updated Mineral Resource estimate for Macarthur’s magnetite deposits at its Lake Giles Iron Project is a major milestone for the Company as it progresses its Feasibility Study.  The updated estimate includes an increase in the size of the Moonshine and Moonshine North Mineral Resource, with category upgrades including Measured and Indicated resources.

With a Measured Mineral Resource totalling 53.9 Mt and Indicated Mineral Resources of 218.7 Mt, Macarthur now has sufficient resources in the appropriate categories to progress its Feasibility Study.

Recent announcements concerning the Company’s applications to develop haul road and rail siding infrastructure near Lake Giles and the announcement that the Company has received a Proposal for development of a Commercial Track Access Agreement from Arc Infrastructure means that the Company is now edging closer than ever to making this Project real for shareholders. 

The Company’s Board and Management are singularly focused on progressing through the key gateways to deliver the Project to maximise the opportunities presented in the current commodity cycle.  With our focus now on the many more successes which need to follow, we have committed to a pathway of responsible, respectful and sustainable development.  These are the principles and points of difference upon which the Company will focus as an emerging Australian iron ore producer.  This is a great outcome for Macarthur and its shareholders.”

Cadence CEO Kiran Morzaria added: “This new updated Mineral Resource estimate for the magnetite deposits at Lake Giles marks an important development for Macarthur as an emerging Australian iron ore producer, and adds material value for shareholders. We look forward to further developments.”

Cadence Minerals Holding in Macarthur

Cadence holds approximately 2.2% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

This news release is not for distribution to United States Services or for Dissemination in the United States.

– Ends –

 

For further information:

Cadence Minerals plc                                                   +44 (0) 7879 584153
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)                                 +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Novum Securities Limited (Joint Broker)                                 +44 (0) 207 399 9400
Jon Belliss

 

 

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

 

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as ”believe” ”could” “should” ”envisage” ”estimate” ”intend” ”may” ”plan” ”will” or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.

Cadence Minerals #KDNC Macarthur Minerals (TSX-V: MMS) (ASX: MIO) engages RCR Mining Technologies on rail wagon and rail unloading solution for Lake Giles Iron Project.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) continues its progress towards a route to market for its flagship Moonshine magnetite deposits at Lake Giles, targeting a +65% Fe beneficiated magnetite concentrate, with the engagement of RCR Mining Technologies Pty Ltd (“RCR MT”) to provide a conceptual engineering and design solution for rail transport and unloading infrastructure of magnetite concentrate at the Port of Esperance. RCR MT has been engaged to examine the potential to use cutting-edge rail unloading technology that has been successfully used in Scandinavian magnetite operations for several years.

The engineering concept will employ a ‘Helix Dumper’ unloading system and Helix Dumper wagons owned and developed by Kiruna Wagon in Sweden. The Kiruna Wagon system has been successfully utilised in transporting magnetite concentrate from northern Sweden to the Port of Narvik in Norway. The system was developed specifically for magnetite concentrates to provide efficient discharge of sticky product at rates up to 25,000 tonnes per hour, and provides the potential to optimise productivity with several advantages over conventional rotary car dumpers, such as:

  • Lightweight wagons, increasing gross payload;
  • High-capacity continuous discharge, reducing operating costs;
  • The potential for lower capital cost;
  • The potential for lower operating cost with unloading powered only by the locomotive’s forward motion; and
  • Wagon body shape optimised for wet concentrates.

Macarthur is currently working with Southern Ports Authority on the potential to develop this system at the Port of Esperance, in addition to negotiating access to develop a storage shed for its magnetite concentrate.

If constructed, the system will be capable of handling tonnages well in excess of Macarthur’s immediate requirements for stage 1 of its Lake Giles Iron Project, providing the potential for increased trade through Esperance, subject to capacity elsewhere within the Port. Macarthur intends to work collaboratively with the Port to ensure that the footprint of the system and associated conveyor infrastructure (which would feed directly into the storage shed) can work in with existing operations at the Port and without adversely affecting other users.

RCR MT is a subsidiary of ASX listed NRW Holdings (ASX: NWH), a leading provider of diversified services to the mining, energy and civil infrastructure sectors. RCR MT is a market leader in the design and manufacture of an extensive range of surface and bulk materials handling equipment with a reputation for delivering high quality mining technologies nationally and internationally. RCR MT holds an exclusive license to develop the Helix system in Australia and in combination with Kiruna Wagon have the ability to manufacture both the dumper and wagons in Western Australia.

Macarthur’s route to market progress:

The Company announced on 25 June 2020 details of applications lodged for haul road and rail loading tenure which maps out a solution to transport magnetite from site to the existing rail network that connects to the Port of Esperance.

The Company announced on 15 July 2020 it had received a Proposal for development of a Commercial Track Access Agreement from Arc Infrastructure, the owner of the below-rail network

Macarthur President and Executive Chairman Cameron McCall commented: “This is another positive step forward for Macarthur’s Lake Giles Iron Project and demonstrates the tenacity with which Management is progressing this essential component of project delivery. The Company’s recent announcements concerning its applications to develop haul road and rail siding infrastructure near Lake Giles and that the Company had received a Proposal for development of a Commercial Track Access Agreement from Arc Infrastructure means that the Company is now edging closer than ever to delivering its route-to-market solution and making this Project real for shareholders. 

With this new cutting-edge rail unloading technology having the potential to contribute to increased trade through Esperance Port, this can only be good for future economic growth and job security in the region. Macarthur welcomes the opportunity to be part of that story and to contribute a positive legacy for the State of Western Australia and workers in the Goldfields region.”

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=8680452246719917&qm_symbol=MMS

Cadence Minerals Holding in Macarthur 

Cadence holds approximately 3% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

This news release is not for distribution to United States Services or for Dissemination in the United States.

– Ends –

 

For further information:

Cadence Minerals plc +44 (0) 7879 584153
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Novum Securities Limited (Joint Broker) +44 (0) 207 399 9400
Jon Belliss

 

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as ”believe” ”could” “should” ”envisage” ”estimate” ”intend” ”may” ”plan” ”will” or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.

Financial Times – Iron ore outstrips gold as year’s best-performing major commodity

by Neil Hume, Natural Resources Editor

Iron ore has outpaced gold to rank as the best-performing major commodity this year, as a rebounding China sucks in vast amounts of the key steelmaking ingredient from mines in Australia and Brazil.

The price of the rust-coloured raw material has risen almost 21 per cent in 2020, just ahead of gold, which is up 19 per cent as central banks have introduced huge stimulus programmes to try to quell the coronavirus crisis. Such activities have pushed down yields on trillions of dollars of fixed-income assets, burnishing the relative appeal of gold, which yields nothing.

Meantime, signs that China, the world’s biggest producer of steel, is mounting a solid recovery have propelled iron ore prices, which rose above $112 a tonne on Wednesday, according to S&P Global Platts, up 9 per cent over the past month.

As part of plans to reinvigorate its economy, Beijing recently announced plans to boost spending on infrastructure through an increase in local government borrowing. A state-backed rally in Chinese equity markets has also played a big role, as investors looking for China-growth proxies have piled into iron ore derivatives


Tyler Broda, analyst at RBC Capital Markets, said long-term demand trends for steel remained uncertain, given China’s increasing dependence on debt to fund new investment. But the shorter-term outlook was bright, he said, because of policymakers’ clear focus on safeguarding jobs.

Data released this week showed China imported more than 100m tonnes of iron ore in June, up from 87m in May. That was the highest monthly figure since October 2017.

It also means that China’s steel production in June is likely to have surpassed May’s total of 92.3m tonnes. This would put the country on course to produce a record 1bn-plus tonnes this year, compared with just 750m tonnes for the rest of the world.

Analysts said the sustainability of Chinese demand would be the main factor determining the direction of prices in the second half of the year. But supply disruptions could also have an impact, and not just in Brazil where Covid-19 is still spreading rapidly.

In Australia, big operations that were running at full strength in June are planning maintenance work on rail and port facilities.

Shipbroker Braemar ACM noted that last month it saw record levels of shipments from Port Hedland, the world’s biggest iron ore loading facility, in the Pilbara region of Western Australia. But so far this month, it said, Australian iron ore listings had averaged slightly more than 2.2m tonnes a day, about 18 per cent lower than in June.

Brazilian exports have also stumbled, with shipments down 23 per cent week on week to 5.3m tonnes in the seven days to July 12, according to UBS.

The rally in prices comes as some of the world’s biggest iron ore producers are due to update the market on their production and shipments. UBS estimates Rio Tinto, which is due to issue a production report on Thursday, shipped 88.1m tonnes in the three months to the end of June, up more than one-fifth from the preceding quarter.

At current prices, analysts say the company could generate more than $10bn in free cash flow this year — potentially paving the way for a bumper dividend alongside half-year results in August.

Full FT story can be found here.
https://www.ft.com/content/5a51652f-7ce1-4537-b015-8c4c73a3fdde?sharetype=blocked

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS, ASX: MIO) Lake Giles Iron Project a step closer with Arc Infrastructure’s Proposal for Development of a Commercial Track Access Agreement.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (“Macarthur”) has received a Proposal that provides an agreed pathway to develop a Commercial Track Access Agreement (“Proposal”) from Arc Infrastructure (“Arc”)  for below rail capacity from its Lake Giles Iron Project in the Yilgarn Region of south-western Western Australia to the Port of Esperance.

Macarthur and Arc have worked collaboratively on the development of Arc’s Proposal, which is a material step forward in bringing Macarthur closer to securing a fully contracted route to market.  The Proposal will provide sufficient certainty to support Macarthur’s Feasibility Study for its Lake Giles Iron Project, as outlined in the Preliminary Economic Assessment Report which was prepared and released in June 2019.

Under the Proposal, the parties have agreed to work together in good faith to negotiate and agree the terms of a Commercial Track Access Agreement (“CTAA”) under which Arc would provide sufficient capacity on its Network to support the Macarthur task.  The Proposal also includes indicative track access pricing based on an agreed set of operational parameters that would be incorporated into the CTAA.

The successful development of the Lake Giles Iron Project and the export of its high grade magnetite through the Port of Esperance is fully supported by the Western Australian Branch of the Australian Rail, Tram and Bus Union (RTBU) and the Western Australian Branch of the Maritime Union of Australia (MUA).

In addition, the Company is continuing to progress discussions:

  • to secure an above rail haulage agreement;
  • to finalise arrangements for the design, development and funding of unloading infrastructure that will avoid current unloading infrastructure constraints at the Port of Esperance;
  • to secure rights to develop a 300kt iron ore storage shed and access ship-loader capacity at the Port.

Macarthur President and Executive Chairman Cameron McCall commented: “Today’s announcement is an important one for the Company. The Board considers that the Proposal received from Arc Infrastructure delivers the most substantial step forward for Macarthur in the last decade towards securing fully contracted train paths on the Kalgoorlie to Esperance rail line. 

The Company’s shareholders have been patient and loyal, investing in the vicinity of AUD80 million in the Lake Giles Iron Project to date. With a substantial body of exploration work undertaken, and analysis nearing completion to upgrade the magnetite resource to a measured and indicated category, it is pleasing to see that critical pieces of the infrastructure puzzle are also now finally starting to come together for Macarthur.

Following the recent announcement of the lodgement of applications to develop a haul road and rail siding near Lakes Giles, and with above rail discussions well progressed, Management will now turn its focus to furthering the Company’s engagement with Southern Ports to progress unloading infrastructure and ship-loader capacity options at the Port of Esperance. 

This is another positive step forward for Macarthur in what has been a prolific 12 months of important milestones for the Company.  We look forward to continuing our productive relationship with Arc as we move forward to delivering this important project for our shareholders and for Western Australia.”

 

The full release, along with comments from the RTBU and MUA can be found at: https://web.tmxmoney.com/article.php?newsid=7886775262297494&qm_symbol=MMS

Cadence Minerals Holding in Macarthur

Cadence holds approximately 3% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

This news release is not for distribution to United States Services or for Dissemination in the United States.

– Ends –

 

For further information:

Cadence Minerals plc                                                    +44 (0) 207 440 0647
Andrew Suckling
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker)                                 +44 (0) 207 220 1666
James Joyce
James Sinclair-Ford
Novum Securities Limited (Joint Broker)                                 +44 (0) 207 399 9400
Jon Belliss

 

 

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.  

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as ”believe” ”could” “should” ”envisage” ”estimate” ”intend” ”may” ”plan” ”will” or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.

I would like to receive Brand Communications updates and news...
Free Stock Updates & News
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.