Engineering & Mining Journal

NOV 2017

Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr

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IRON ORE REPORT 36 E&MJ • NOVEMBER 2017 www.e-mj.com The final capacity is projected to be 90 million mt/y to be achieved by 2020. By the end of 2017, capacity is estimated to be 22.5 million mt/y. Other than that, Vale is expected to focus on other metals in the near-term future. Rio Tinto has two interesting projects: the Koodaideri at a feasibility stage and the 10-million-mt/y Silvergrass mine, which was officially opened at the end of August. The Koodaideri project aims to sustain the quality and tonnage of the company's Pil- bara blend product. The project includes a 40-million-mt/y dry crushing and screening plant and a 170-km railway line linking up the mine with Rio Tinto's main railway line. BHP continues to develop the South Flank Mines, which will sustain produc- tion levels of the company. The mine that could start production sometime after 2020 has seen revisions of its costs as estimates are being shifted upward. Roy Hill is continuing the develop- ment of its 50-million-mt/y iron ore mine in Australia. Fortescue Metals Group, the fourth largest iron ore producer, has com- municated that the company will slow growth and focus on production. Market Outlook Global GDP growth in 2016 was lower than expected at the start of the year. This is part- ly due to the Brexit vote in the U.K., but also uncertainties related to the U.S. policies and a lower than expected growth in many developing countries. However, according to the IMF October 2017 World Economic Outlook, the global upswing in economic activity is strengthening, with global growth projected to rise to 3.6% in 2017 and 3.7% in 2018. This includes broad-based upward revisions in the euro area, Japan emerging Asia, other Europe, and Russia, which more than offsets downward revisions for the U.S. and the U.K. In China, healthy GDP growth is expected at 6.8% in 2017. During 2016, world crude steel pro- duction increased by 0.6% or 9.6 million mt. For the first nine months of 2017, growth was 67 million mt, up 5.6% com- The S11D mine, located in Canna dos Carajas, Para, Brazil, relies on conveyors rather than trucks to move ore. Scan for more information

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