Kenmare Resources plc , one of the leading global producers of titanium minerals and zircon, which operates the Moma Titanium Minerals Mine (the "Mine" or "Moma") in northern Mozambique, is pleased to provide a trading update for the quarter and half year ending 30 June 2018.

Statement from Michael Carvill, Managing Director:   
“I am pleased to report that production in Q2 2018 increased from Q1 2018, in line with expectations and guidance for the full year. Final product shipment also achieved new records, whilst average product prices received increased, resulting in strong cash flow generation in H1 2018. Our net debt has consequently been reduced by a further US$25.0 million.  

This strong cash flow has been achieved in spite of planned spending on capital projects to expand mining capacity. I have been encouraged by the progress of the WCP B upgrade, which is currently commissioning, ahead of time and below budget.

Kenmare looks forward to providing more clarity on our plans for the future at a Capital Markets Day scheduled for October this year. The focus will be on our drive to increase production and reduce unit costs by 2021, funded by internally generated cashflow. We will also provide an outline of our dividend policy.”

Heavy Mineral Concentrate production increased by 5% to 377,900 tonnes (Q2 2017: 359,200 tonnes). Ilmenite production decreased by 4% to 238,500 tonnes (Q2 2017: 248,300 tonnes) but increased 13% on Q1 2018 figures. Primary zircon production decreased by 9% to 11,700 tonnes (Q2 2017: 12,900 tonnes) but increased 4% relative to Q1 2018.

Total shipments increased 15% to 322,000 tonnes (Q2 2017: 279,600 tonnes) setting a new quarterly record. Wet Concentrator Plant B (“WCP B”) upgrade currently being commissioned, ahead of time and under budget. Average received final product prices increased in Q2 2018, led by zircon. Net debt reduced to US$9.1 million (31 December 2017: US$34.1 million), with cash on hand of US$84.2 million. Capital Markets day scheduled for 16 October 2018.


Production from the Moma Mine in Q2 & H1 2018 was as follows:

During Q2 2018, Kenmare mined 8.4 million tonnes of ore at an average grade of 4.68%, producing 377,900 tonnes
of HMC. Finished product volumes for the period included 238,500 tonnes of ilmenite, 16,800 tonnes of zircon and 2,000 tonnes of rutile.  
The tonnage of ore excavated was up 8% in comparison to Q1 2018, as dredge and supplementary mining benefitted from higher throughput and utilisation rates and were less impacted by planned stoppages. Grades increased slightly in comparison to Q1 2018 to 4.68%, up 4%. Capacity improvements have been implemented at WCP A supplementary dry mining to increase throughputs, and a similar programme is currently underway at WCP B.

Ilmenite production for the quarter was 238,500 tonnes, down 4% on Q2 2017, but up 13% compared to Q1 2018, reflecting higher HMC production levels and availability. Despite improved plant reliability in Q2 2018, production utilisations in the Mineral Separation Plant (“MSP”) were impacted by reduced reliability in the power network as unplanned outages, normally associated with the wet season, continued for longer than expected this year.

We are
liaising closely with Electricidade de Moçambique, our electricity provider, to seek resolution on these matters. Zircon production of 16,800 tonnes for the period was broadly in line with Q1 2018 (16,900 tonnes), yet declined 13% in comparison to Q2 2017 (19,200 tonnes). Zircon production in Q2 2017 was supported by an additional 26,900 tonnes of zircon rich spillage material that was reprocessed.  

The upgrade of WCP B, from 2,000 tonnes per hour to 2,400 tonnes per hour, is being commissioned ahead of schedule and the project is currently under budget of US$16 million. Further details will be provided as part of the H1 2018 interim results, due to be announced on 20 August 2018.  

Grades are forecast to be lower in H2 2018 and mining conditions are expected to become more challenging,
particularly at WCP A. These issues will be addressed by higher levels of supplemental mining and increased production at WCP B. Production of final products will also be supported by HMC stock, which has increased during the quarter.

Kenmare shipped 322,000 tonnes of finished products in Q2 2018, comprising 298,300 tonnes of ilmenite, 21,300 tonnes of zircon (including 8,300 tonnes of secondary grade zircon) and 2,400 tonnes of rutile. This represents a new quarterly record, which benefitted from good demand and favourable shipment variations at the beginning and end of the period. As product inventories have substantially reduced, it is expected that shipping volumes will be lower in H2 2018 Closing stock of HMC at the end of Q2 2018 was 52,300 tonnes, compared with 24,200 tonnes at the beginning of the quarter. Closing stock of finished products at the end of Q2 2018 was 129,600 tonnes (Q2 2017: 202,500 tonnes, Q1 2018: 194,200 tonnes).

Strong demand for Kenmare ilmenite continued into Q2, with record volumes shipped for the quarter and half year, resulting in a further drawdown of inventory at Moma. This was driven by steady sales to the China spot market as well as some accelerated shipments to contracted customers as western pigment plants maintained high utilisation rates.  

As in previous years, we are seeing some seasonal weakness in the Chinese ilmenite market over the summer months. Coupled with ongoing disruption to pigment plant operating rates driven by the implementation of environmental regulations, this is leading to a slowdown in ilmenite purchasing activity. Domestic ilmenite production in China has increased, as has the supply of ilmenite concentrates from Africa, which has rebalanced the market and led to some softening of prices in recent weeks.

Global pigment demand growth was favourable in the first half of 2018, driving increased feedstock demand, but there are some signs of demand growth slowing outside North America.  

The zircon market continues to benefit from steady demand and constrained supply, driving higher prices. Further price increases were achieved in Q2 2018 and are being implemented in Q3 2018 in line with the prevailing movement in the market.

Finance Update

Following the first principal debt repayment on 1 February 2018, gross bank loans, including accrued interest, amounted to US$93.3 million at 30 June 2018 (31 December 2017: US$102.9 million). Cash and cash equivalents were US$84.2 million (31
December 2017: US$68.8 million). Consequently, net debt stands at US$9.1 million (31 December 2017: US$34.1 million).
The Company's half-yearly results in respect of the six months ended 30 June 2018 will be issued on 20 August 2018. Kenmare will also be holding a Capital Markets Day in London on 16 October 2018, providing further information on the Company’s development projects and dividend policy.

T.A. Cook Conferences and SAP are delighted to announce the International SAP Conference for Mining and Metals will be taking place on 16-18October, 2018 in Prague, Czech Republic.

This unique business-focussed event will bring together over 250 business and IT professionals from across the full SAP mining and metals ecosystem – including partners, users, and solution experts, all under one roof at one time.

Event Format

The event will kick off with 12 simultaneous half-day and full-day pre-conference workshops taking place on October 16, topics include SAP Leonardo, Digital Supply Chain, Intelligent Asset Management, SAP Customer Experience, Connected Worker and more.

At these workshops you will review product functionality, dive deeper into topics, get practical examples, take part in discussions, go through online demonstrations, and determine the business benefits of each solution. Each workshop offers you a unique opportunity to address challenges, discuss them with your peers, and gain valuable guidance from some of the most knowledgeable experts on SAP applications.

At the conference itself, hear from SAP experts bringing you the latest mining and metals solutions and future roadmap. Attend live demos, interactive microforums and enjoy multiple networking opportunities. Hear the latest market trend analyses, industry updates and case studies from leading Mining and Metal companies from across the globe, including;  ArcelorMittal, Fortescue Metals Group, NLMK, Roy Hill, Vale, Vedanta and more.

Event Hot Topics include:

•    Customer Centricity
•    Transportation Management
•    Digital Transformation
•    Supply Chain
•    Machine Learning
•    Cloud
•    Artificial Intelligence
•    Asset Management
•    And more . . .

Benefits of Attending

5 reasons you should attend:

1.    Benchmark your performance: Assess strengths, uncover areas for improvement, and keep up to date with the industry. Also, identify key IT strategies that generate tangible business value

2.    See it in action: Seize the unique opportunity to take part in our practical workshops which give you the chance to dive deeper into SAP’s various solutions. Designed for all knowledge levels, the workshops will offer an unparalleled opportunity to get instant answers to your burning questions.

3.    Learn from the experts: Hear customer case studies, lessons learned, and strategic advice from leading mining and metals companies.

4.    Network: Connect and build long-term working relationships with industry peers, SAP experts, and partners.  Plus join us for our celebration evening event at the stunning Covent of St. Agnes of Bohemia - the oldest Gothic building in Prague. Relax and unwind whilst enjoying delicious food and drink - a not to be missed event!

5.    Gain new ideas: Engage in live demos and casual discussions, and learn about partner innovations and predictions of things to come, to get a fresh perspective and valuable ideas to apply to your business

Moreover, this year’s event is co-located with three other industry events, the International SAP Conferences for Chemicals, Building Materials and Forest Products, Paper and Packaging. Register for one event and move freely between all agendas. Benefit from combined industry learning and multiple networking opportunities with the wider energy and natural resources community. Find out more about our co-located events below:

-    International SAP Conference for Chemicals
-    International SAP Conference for Building Materials
-   International SAP Conference for Forest Products, Paper and Packaging

Our early bird discount is available until Friday 24th August, 2018 and if you are interested in bringing your team, register for our 4 for 3 group offer. Visit


Event Name:      International SAP Conference for Mining and Metals
Dates:               16-18October, 2018 – Prague, Czech Republic
Contact:            Jessica Duffy - This email address is being protected from spambots. You need JavaScript enabled to view it. +44 (0)121 200 3810
Twitter:             #SAPmmconf / @TACookEvents
LinkedIn Group:


Anaconda Mining Inc is pleased to announce plans for a resource expansion and exploration program for the summer/fall of 2018 at the Company's wholly owned Point Rousse Project in the Baie Verte Mining District of Newfoundland, which includes the fully-operational Pine Cove Mill and tailings storage facility.

The Exploration Program consists of 5,000 metres of diamond drilling at three priority targets at Point Rousse: expansion drilling at the Argyle Deposit, and exploration drilling at the Anoroc and Deer Cove Prospects. The Exploration Program will also include 30-line kilometres of ground magnetic and Induced Polarization ("IP") geophysical surveys.

"Since 2010, the Point Rousse Project has produced 118,028 ounces of gold and generated approximately $50 million in Project-level EBITDA*. In that time, Anaconda has developed two mining operations and is in the process of developing a third at Argyle.

The Exploration Program will focus on resource expansion at the Argyle Deposit as well as drilling at the Anoroc and Deer Cove Prospects, where we believe there is high potential for the discovery of more gold deposits. Our goal is to continue to extend our production profile at Point Rousse, which currently includes two years of mineral reserves from Pine Cove and Stog'er Tight, with expected throughput to follow from Argyle, which is currently in the permitting process. The Exploration Program supports our growth strategy in Atlantic Canada, leveraging the Company's extensive mine and mill infrastructure."

Significant exploration and development attributes of the Point Rousse Project include:

Ore production from two mining areas, three mineral deposits, numerous prospects and showings;

A 1,300 tonne per day mill, in-pit tailings facilities with 15 years of storage at current throughput rates, and a deep-water port able of docking Panamax size vessels;
Three mineralized trends with approximately 20 kilometres of prospective geology including the Scrape, Goldenville and the Deer Cove Trends;
The Pine Cove, Stog'er Tight and Argyle Deposits are located within the Scrape Trend and define a 5-kilometre strike of fertile geology and cumulatively contain 119,570 ounces of Indicated Resources (1,610,600 tonnes at 2.30 g/t) and 78,090 ounces of Inferred Resources (1,245,300 tonnes at 1.95 g/t)**;
Highly prospective for the discovery of gold through expansion of existing deposits or the discovery of new deposits; and
Well understood geological and exploration model.

As outlined in Anaconda's recent NI 43-101 Technical Report, dated February 26, 2018, the Company has over two years of reserves from the Pine Cove and Stog'er Tight mines at the Point Rousse Project. This includes 191,500 tonnes of higher grade mineral reserves from the Stog'er Tight mine and the addition of two pushbacks at the Pine Cove mine, scheduled for 2019.

The Argyle Deposit is anticipated to be the next available feed source to the Pine Cove Mill, with permitting underway. The Argyle Deposit remains open for expansion with the potential to increase in size over the next year, because of an improved geological understanding of the mineralized areas leading to more efficient drilling.

In addition to Argyle, two other key drill targets, the Anoroc and Deer Cove prospects, have the potential to provide additional resources for development, as they have similar geological characteristics and setting to the Pine Cove, Stog'er Tight and Argyle deposits.

The Exploration Program will begin in late June and is expected to continue into the early fall of 2018. Drill results will be released as they are available and interpreted.


The Argyle Deposit contains a NI 43-101 resource including 38,300 ounces Indicated Resources (543,000 tonnes grading 2.19 g/t gold) and 30,300 ounces of Inferred Resource (517,000 tonnes grading 1.82 g/t gold) **. The deposit is hosted within the Argyle Gabbro and trends easterly and remains open for expansion in all directions (Exhibit B). The Exploration Program at Argyle will include 3,000 metres of diamond drilling, 15 line kilometres of IP and magnetic surveying as well as detailed soil geochemistry and geological mapping. Drilling is designed to follow up on the high-grade results from drilling in winter 2018 that intersected 12.47 g/t gold over 5.0 metres and 7.87 g/t gold over 7.0 metres in drillholes AE-17-38 and AE-17-74 respectively.


The Anoroc Prospect is hosted within the same geological setting and host rocks as the Pine Cove Deposit and includes approximately 500 metres of strike between Anoroc and the Pine Cove Mine. Drilling at Anoroc will test for the westerly continuation of mineralization between the west end of the Pine Cove Pit and the Anoroc Prospect to the southwest where previous drilling has outlined gold mineralization including 2.68 g/t gold over 15.9 metres in drillhole PC-15-257 (see news release dated January 25, 2016) and 9.9 g/t gold over 2.0 metres in historical drillhole AN-90-01. A 15 line kilometer ground magnetic survey is also contemplated to be completed at Anoroc (Exhibit C).

Deer Cove

The Deer Cove Prospect includes all showings associated with a similar geological setting and host rocks as at the Pine Cove Mine and includes a gold bearing quartz vein explored by Noranda with an exploration adit in the 1980s (Exhibit D). The Exploration Program at Deer Cove will comprise compilation of historic IP geophysical surveys and drill testing of combined geochemical and geophysical targets along the Deer Cove Trend. Historic drilling associated with the quartz vein at Deer Cove includes the following select drill results:

    22.74 g/t gold over 5.0 metres in drillhole DC-86-001;
    11.97 g/t gold over 4.1 metres and 26.12 g/t gold over 3.6 metres, and 5.80 g/t gold over 3.4 metres in drillhole DC-87-073;
    29.60 g/t gold over 1.7 metres in drillhole DC-88-100; and
    24.39 g/t gold over 2.3 metres in drillhole DC-10-122.


Anaconda is a TSX-listed gold mining, development, and exploration company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia. The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland, comprised of the Stog'er Tight Mine, the Pine Cove open pit mine, the Argyle Mineral Resource, the fully-permitted Pine Cove Mill and tailings facility, and approximately 5,800 hectares of prospective gold-bearing property. Anaconda is also developing the Goldboro Project in Nova Scotia, a high-grade Mineral Resource, with the potential to leverage existing infrastructure at the Company's Point Rousse Project.

The Company also has a pipeline of organic growth opportunities, including the Great Northern Project on the Northern Peninsula of Newfoundland and the Tilt Cove Property on the Baie Verte Peninsula, also in Newfoundland.

CIMIC Group company, CPB Contractors, has been selected by BHP Iron Ore to deliver the construction of bulk earthworks, concrete and underground services for the South Flank project in Western Australia’s Pilbara region.

Revenue to CPB Contractors for this construct-only contract is approximately $260 million, with construction scheduled to commence in July and conclude in September 2020.

CIMIC Group Chief Executive Officer Michael Wright said: “CIMIC Group has delivered significant resources infrastructure projects for the major mining clients in the iron ore industry, with our team continuing to contribute to Australian mining across all sectors.

“The South Flank development works will help to ensure that the Mining Area C precinct becomes one of the largest standalone iron ore processing centres in the world, and it is our privilege to again be working with BHP to deliver high-quality assets of long-term value.”

CPB Contractors Managing Director Juan Santamaria said: “Our extensive mining and resources experience and long history in the Pilbara mean we can offer comprehensive construction capabilities, certainty of delivery, and high standards of safety and quality.

“In addition, we are focused on a procurement strategy that provides participation, employment and training opportunities for Indigenous enterprises and local businesses, towards broader community benefits.”

The South Flank development is one component of BHP’s strategy to increase the mining, processing and out-loading capacity of the Mining Area C hub. As part of the South Flank Project, CPB Contractors will undertake works in and around the existing rail loop, including:

    • Earthworks and concrete works to support the expansion and duplication of the existing rail loop and stockyard;

    • Earthworks and concrete works for the development of a new ore processing plant and train load-out facilities; and
    • Underground services, including electrical and water services, for the above work.

The Mining Area C precinct is located approximately 120km north west of Newman in the Pilbara region of Western Australia.

Kinross Gold Corporation is pleased to  announce that it is proceeding with the initial Gilmore expansion project at its Fort Knox mine in Alaska.

The initial Gilmore project is expected to extend mining at Fort Knox by six years to 2027, and leaching to 2030, at a low initial capital cost of approximately $100 million, and increase life-of-mine production by approximately 1.5 million Au eq. oz.

The project is expected to generate an internal rate of return (IRR) of 17% and net present value (NPV) of $130 million based on a $1,200/oz. gold price, and an IRR of 26% and NPV of $239 million based on a $1,300/oz. gold price.

“We are pleased to proceed with the initial Fort Knox Gilmore project, a low-risk, low-cost brownfield expansion that is expected to extend mine life to 2030 at one of our top performing operations and contribute 1.5 million gold equivalent ounces to strengthen our long-term U.S. production profile.

“The Gilmore project offers an attractive IRR and NPV and adds to our suite of quality development projects at Tasiast, Round Mountain, Bald Mountain and Kupol to enhance our globally diverse portfolio. The project’s low initial capital cost is expected to be funded by Fort Knox’s cash flow, helping preserve our strong balance sheet and financial flexibility.

“With additional upside potential at Gilmore and beyond, Fort Knox is a significant asset in our portfolio located in an excellent mining jurisdiction. The Gilmore project and the addition of estimated mineral resources improves value and is expected to be a key contributor to the future growth of our Company.”


  1. Based on a $1,200 per ounce gold price assumption and $55/bbl oil price assumption. 2018-2030 unless noted otherwise.
  2. Incremental to pre-Gilmore mine plan and estimated mineral reserves previously disclosed by Kinross in its news release dated February 14, 2018.
  3. Throughout this news release, forecast site-level all-in sustaining cost excludes corporate overhead costs. This is a non-GAAP measure and is not defined under IFRS. Refer to “Reconciliation of non-GAAP financial measures” section in the Company’s Q1 2018 MD&A.
  4. Throughout this news release, calculated from July 1, 2018 forward and after tax.
  5. Throughout this news release, calculated based on a 5% discount rate from July 1, 2018 and after tax.

Gilmore feasibility study

The Gilmore feasibility study contemplates the first two phases of a potential multi-phase layback of the existing Fort Knox pit and construction of a new heap leach pad. The Company expects to continue leveraging its extensive experience and knowledge operating cold weather, sub-arctic heap leaching, having successfully operated Fort Knox’s current heap leach during the past 10 years.

The project plan requires minimal construction of new infrastructure and new equipment purchases, and has been optimized for lower initial capital costs. This includes continuing mining using Fort Knox’s current fleet and leveraging assets from the Company’s other North American operations as replacement equipment is required. Kinross expects to finance the initial capital costs of the project using Fort Knox’s cash flow.  

Early construction work on the new heap leach and dewatering is expected to begin in Q3 2018, with stripping commencing in 2019. Initial production from Gilmore is expected in early 2020, with approximately 5% of Gilmore ore expected to be stacked on the existing pad. Approximately 95% of Gilmore ore is expected to be stacked on the new heap leach pad, with stacking commencing in late 2020. Currently, milling at Fort Knox is expected to end in late 2020.

The project team has now been established and contracting is underway. Engineering is largely complete and the permitting process is proceeding as planned. Permits are now in place to start work on the new heap leach pad.

About Kinross Gold Corporation

Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Kinross’ focus is on delivering value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining.

ALROSA, the world’s largest diamond mining company, will hold the auctions for the sale of special size rough diamonds (weighing over 10.8 carats) in Hong Kong and Vladivostok this June.

The auction in Hong Kong will take place on June 13-27; the results will be summed up on June 28. The company will auction 105 gem-quality lots with total weight of 1620 carats.

The second auction will be held on June 18-29 in Vladivostok. The company plans to bring there 130 gem-quality lots with total weight 2149 carats. The results of the auction will appear on June 29.

ALROSA invited 150 companies representing Belgium, Hong Kong, Israel, India, China, UAE, Russia and the USA to participate in the auctions. The diamonds to be put up for the auctions belong to ALROSA, and its subsidiaries –ALROSA-Nyurba and Severalmaz.

“Interaction with the Asia-Pacific countries is one of ALROSA’s key activities today. Vladivostok and Hong Kong are two excellent sites for attracting customers from these regions. Moreover, thanks to the good demand noted at the previous auctions, we decided to revise the previously approved schedule and to hold not two but four auctions in Vladivostok in 2018,” said Evgeny Agureev, the Member of the Executive committee, Director of the USO ALROSA.

In September 2018, ALROSA will hold an auction in Hong Kong as part of the Hong Kong Jewelery & Gem Fair. Before the end of the year, there will be two more auctions in Vladivostok, except that in June; their results will be announced in September and November, respectively.

ArcelorMittal has begun construction of new premises at its site in Ghent, Belgium, to house a pioneering new installation which will convert carbon-containing gas from its blast furnaces into bioethanol. If proved successful, the new concept has the potential to revolutionise blast furnace carbon emissions capture and support the decarbonisation of the transport sector.

The technology in the gas conversion process was pioneered by Chicago-based company, LanzaTech, with whom ArcelorMittal has entered a long-term partnership. The technology licensed by LanzaTech uses microbes that feed on carbon monoxide to produce bioethanol. The bioethanol will be used as transport fuel or potentially in the production of plastics.


This is the first installation of its kind on an industrial scale in Europe and once complete, annual production of bioethanol at Ghent is expected to reach around 80 million litres, which will yield an annual CO2 saving equivalent to putting 100,000 electrical cars on the road. The new installation will create up to 500 construction jobs over the next two years and 20 to 30 new permanent direct jobs. Commissioning and first production is expected by mid-2020.

The application of this microbial gas conversion system significantly advances ArcelorMittal’s carbon capture and storage (CCS) and carbon capture and utilisation (CCU) capabilities and enhances steel’s role in the circular economy. ArcelorMittal’s long-term aspiration is to become a zero-waste business, with all materials used or generated during steel production recuperated, treated and reused in the production chain or becoming the raw materials for other industries.

"We are excited that after several years of research and engineering, we are now progressing with the largest project of its kind within the ArcelorMittal group. This is the first application of a viable new business case where re-use of carbon is possible at large scale. We will achieve significant carbon reduction and we hope that this will lead us to a lower carbon economy," says Carl De Maré, vice president of Technology Strategy at ArcelorMittal. "This new Carbon Smart technology illustrates ArcelorMittal’s commitment to transforming steel production and it will also further strengthen steel’s standing in the circular economy, particularly compared to other higher carbon metals like aluminium.”

"Single use carbon must become a thing of the past,” said Jennifer Holmgren, CEO of LanzaTech. “In order to succeed in decarbonizing our economy, we will need the commitment of large companies and governments from around the world to ensure carbon reuse is part of the solution. This facility in Europe embodies the key principles of the circular economy and drives to a zero-waste steel production world. We are excited to work with ArcelorMittal and are grateful for the support of the European Commission.”

ArcelorMittal will work with specialized partners to roll out this bioethanol technology. Funding was obtained from various sources, including the European Union's Horizon 2020 program, to carry out further research and development and scale up the project.

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and an industrial footprint in 18 countries. Guided by a philosophy to produce safe, sustainable steel, we are the leading supplier of quality steel in the major global steel markets including automotive, construction, household appliances and packaging, with world-class research and development and outstanding distribution networks.

Through our core values of sustainability, quality and leadership, we operate responsibly with respect to the health, safety and wellbeing of our employees, contractors and the communities in which we operate.

For us, steel is the fabric of life, as it is at the heart of the modern world from railways to cars and washing machines. We are
actively researching and producing steel-based technologies and solutions that make many of the products and components people use in their everyday lives more energy efficient.

We are one of the world’s five largest producers of iron ore and metallurgical coal. With a geographically diversified portfolio of iron ore and coal assets, we are strategically positioned to serve our network of steel plants and the external global market. While our steel operations are important customers, our supply to the external market is increasing as we grow.

In 2017, ArcelorMittal had revenues of $68.7 billion and crude steel production of 93.1 million metric tonnes, while own iron ore production reached 57.4 million metric tonnes.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).


For more information about ArcelorMittal please visit:

About LanzaTech

LanzaTech has developed a unique microbial capability that captures and recycles a broad spectrum of gases for fuel and chemical production with over 50 different molecules demonstrated. Proprietary microbes combined with innovative approaches in bioreactor design and process development have enabled rapid scale up to take place. The first European demonstration facility with ArcelorMittal, the world’s largest steel company is under construction in Belgium.

Across the supply chain, LanzaTech promotes a “Carbon Smart™” circular economy, where both gas providers and end users can choose to be resource efficient by recycling or “sequestering” carbon into new products rather than making them from fossil reserves. Founded in New Zealand, LanzaTech has raised more than US$250 million from investors including Khosla Ventures, K1W1, Qiming Venture Partners, Petronas, Mitsui, Primetals, China International Capital Corp, Suncor, China International Investment Corporation (CITIC) and the New Zealand Superannuation Fund.

Newmont Mining Corp announced that it has entered into an agreement to sell its royalty portfolio (the Transaction) to Maverix Metals Inc. , an emerging precious metals royalty and streaming company.

In connection with the Transaction, Newmont will receive 60 million Maverix common shares, representing an ownership interest of approximately 28 percent; $17 million in cash; and warrants for an additional 10 million common shares.

Newmont’s royalty portfolio includes 54 precious metals and industrial minerals royalties, including royalties at TMAC Resources’ Hope Bay mine in Canada and Premier Gold’s McCoy Cove project in Nevada.

“Our strategic partnership and equity interest in Maverix generates value for both companies’ shareholders,” said Randy Engel, Executive Vice President, Strategic Development. “Maverix’s management team has a strong track record of managing and growing high-quality royalty and streaming assets in favorable mining districts on four continents.”

In connection with the Transaction, the parties will enter into a shareholder agreement which will entitle Newmont to a seat on Maverix’s Board of Directors and pre-emptive rights to participate in future financings to maintain the Company’s ownership stake. Newmont’s strategic partnership will provide ongoing exposure to Maverix’s growing portfolio, which currently includes 27 high-quality royalties and streams, 10 of which are on producing mines. Closing of the Transaction is expected to occur in the second quarter of 2018.

About Newmont

Newmont is a leading gold and copper producer. The Company’s operations are primarily in the United States, Australia, Ghana, Peru and Suriname. Newmont is the only gold producer listed in the S&P 500 Index and was named the mining industry leader by the Dow Jones Sustainability World Index in 2015, 2016 and 2017. The Company is an industry leader in value creation, supported by its leading technical, environmental, social and safety performance. Newmont was founded in 1921 and has been publicly traded since 1925.

Fortescue Metals Group (Fortescue) continues to successfully implement its innovation projects with the relocatable conveyor at Cloudbreak coming online.

A key productivity initiative, the five kilometre conveyor includes a semi-mobile primary crushing station and feeds directly into the Cloudbreak ore processing facility. The relocatable conveyor and semi-mobile crushing facilities can be positioned approximate to pits and relocated once mined.

By providing greater flexibility and increased accessibility to remote mine pits, the relocatable conveyor will reduce haulage costs, offsetting rising strip ratios and delivering sustained efficiency improvements across the business.

Chief Executive Officer Elizabeth Gaines said Fortescue has a proud history of embracing technology and innovation.

“The long and shallow nature of the ore body at the Chichester Hub presents unique challenges and opportunities. Since Fortescue first began operation with strip miners, the team has consistently brought new ideas and solutions to deliver the most from our ore bodies,” Ms Gaines said.

“In partnership with RCR Tomlinson, we have been able to adapt the relocatable conveyor technology frequently used in underground mining operations, allowing our team to respond to the requirements of the mine plan with greater flexibility.

“Together with the rollout of autonomous haulage technology (AHS) across the Chichester Hub, this innovative conveyor system will contribute to further productivity and efficiency improvements and maintain our cost leadership position.

“I would like to thank the entire Fortescue team for the safe and successful completion of the project.”


Nornickel is the only Russian company on the annual Forbes’ Top-100 Most Innovative list.The list is a ranking of companies investors think will create profitable new ideas.

The assessment is based on innovation premium the difference between capitalisation and discounted cash flow which reflects the growth potential. To be included on the list, firms need seven years of public financial data and USD 10 bn in market cap.

The strategy of Nornickel the global leader in palladium and high grade nickel production is focused on the development of Tier-1 assets, upgrade of the existing capacities and launch of new facilities for a more efficient, environmentally-friendly and safe production process.

Nornickel’s portfolio has a number of promising growth projects seeking to develop the vast reserves of non-ferrous and precious metals in the Norilsk Industrial District. The company is committed to digitisation of every production stage, with Technology Breakthrough programme introduced in 2015 to digitise and automate most processes by 2020. It is currently implemented by over 50%.

This year’s Forbes #1 World’s Most Innovative Company is ServiceNow, a company providing IT support automation solutions. Workday, a cloud service to track finance and HR resources, scores the second. Top-10 also includes Netflix, Incyte, Hindustan Unilever, Naver and Facebook, and only two non-American companies — India-based cosmetics company Hindustan Unilever and South Korean search engine Naver.

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