Glossary

Glossary

A B C D E F G H I K L M N O P R S T U
  • Alumina
    Aluminum oxide. It is the main component of bauxite, and extracted from bauxite ore in a chemical refining process. It is the principal raw material in the electro-chemical process from which aluminum is produced.
  • Aluminum
    A white metal that is obtained in the electro-chemical process of reducing aluminum oxide.
  • Anthracite
    The hardest coal type, which contains a high percentage of fixed carbon and a low percentage of volatile matter. Anthracite is the highest ranked coal and it contains 90% fixed carbon, more than any other form of coal. Anthracite has a semi-metallic luster and is capable of burning with little smoke. Mainly used for metallurgical purposes.
  • Austenitic stainless steel
    Steel that contains a significant amount of chromium and sufficient nickel to stabilize the austenite microstructure, giving to the steel good formability and ductility and improving its high temperature resistance. They are used in a wide variety of applications, ranging from consumer products to industrial process equipment, as well as for power generation and transportation equipment, kitchen appliances and many other applications where strength, corrosion and high temperature resistance are required.
  • A$
    The Australian dollar.
  • Bauxite
    A rock composed primarily of hydrated aluminum oxides. It is the principal ore of alumina, the raw material from which aluminum is made.
  • Beneficiation
    A variety of processes whereby extracted ore from mining is reduced to particles that can be separated into ore-mineral and waste, the former suitable for further processing or direct use.
  • CAD
    The Canadian dollar.
  • CFR
    Cost and freight. Indicates that all costs related to the transportation of goods up to a named port of destination will be paid by the seller of the goods.
  • Coal
    Coal is a black or brownish-black solid combustible substance formed by the decomposition of vegetable matter without access to air. The rank of coal, which includes anthracite, bituminous coal (both are called hard coal), sub-bituminous coal, and lignite, is based on fixed carbon, volatile matter, and heating value.
  • Cobalt
    Cobalt is a hard, lustrous, silver-gray metal found in ores, and used in the preparation of magnetic, wear-resistant, and high-strength alloys (particularly for jet engines and turbines). Its compounds are also used in the production of inks, paints, catalysts and battery materials.
  • Coke
    Coal that has been processed in a coke oven, for use as a reduction agent in blast furnaces and in foundries for the purposes of transforming iron ore into pig iron.
  • Coking coal
    See metallurgical coal.
  • Concentration
    Physical, chemical or biological process to increase the grade of the metal or mineral of interest.
  • Copper
    A reddish brown metallic element. Copper is highly conductive, both thermally and electrically. It is highly malleable and ductile and is easily rolled into sheet and drawn into wire.
  • Copper anode
    Copper anode is a metallic product of the converting stage of smelting process that is cast into blocks and generally contains 99% copper grade, which requires further processing to produce refined copper cathodes.
  • Copper cathode
    Copper plate with purity higher than or equal to 99.9% that is produced by an electrolytic process.
  • Copper concentrate
    Material produced by concentration of copper minerals contained in the copper ore. It is the raw material used in smelters to produce copper metal.
  • DRI
    Direct reduced iron. Iron ore lumps or pellets converted by the direct reduction process, used mainly as a scrap substitute in electric arc furnace steelmaking.
  • DWT
    Deadweight ton. The measurement unit of a vessel’s capacity for cargo, fuel oil, stores and crew, measured in metric tons of 1,000 kg. A vessel’s total deadweight is the total weight the vessel can carry when loaded to a particular load line.
  • Electrowon copper cathode
    Refined copper cathode is a metallic product produced by an electrochemical process in which copper is recovered by dissolving copper anode in an electrolyte and plating it onto an electrode. Electrowon copper cathodes generally contain 99.99% copper grade.
  • Embedded derivatives
    A financial instrument within a contractual arrangement such as leases, purchase agreements and guarantees. Its function is to modify some or all of the cash flow that would otherwise be required by the contract, such as caps, floors or collars.
  • Emissions trading
    Emissions trading is a market-based scheme for environmental improvement that allows parties to buy and sell permits for emissions or credits for reductions in emissions of certain pollutants.
  • Fe unit
    A measure of the iron grade in the iron ore that is equivalent to 1% iron grade in one metric ton of iron ore.
  • Ferroalloys
    Ferroalloys are alloys of iron that contain one or more other chemical elements. These alloys are used to add these other elements into molten metal, usually in steelmaking. The principal ferroalloys are those of manganese, silicon and chromium.
  • FOB
    Free on board. It indicates that the purchaser pays for shipping, insurance and all the other costs associated with transportation of the goods to their destination.
  • Gold
    A precious metal sometimes found free in nature, but usually found in conjunction with silver, quartz, calcite, lead, tellurium, zinc or copper. It is the most malleable and ductile metal, a good conductor of heat and electricity and unaffected by air and most reagents.
  • Grade
    The proportion of metal or mineral present in ore or any other host material.
  • Hard metallurgical coal
    Metallurgical coking coal with the required properties to produce a stronger/harder metallurgical coke.
  • Hematite Ore
    Hematite is an iron oxide mineral, but also denotes the high-grade iron ore type within the iron deposits.
  • Iridium
    A dense, hard, brittle, silvery-white transition metal of the platinum family that occurs in natural alloys with platinum or osmium. Iridium is used in high-strength alloys that can withstand high temperatures, primarily in high-temperature apparatus, electrical contacts, and as a hardening agent for platinum.
  • Iron ore pellets
    Agglomerated ultra-fine iron ore particles of a size and quality suitable for particular iron making processes. Our iron ore pellets range in size from 8 mm to 18 mm.
  • Itabirite Ore
    Itabirite is a banded iron formation and denotes the low-grade iron ore type within the iron deposits.
  • Kaolin
    A fine white aluminum silicate clay derived from rock composed chiefly of feldspar, which is used as a coating agent, filler, extender and absorbent in the paper, paint, ceramics and other industries.
  • Lump ore
    Iron ore or manganese ore with the coarsest particle size in the range of 6.35 mm to 50 mm in diameter, but varying slightly between different mines and ores.
  • Manganese
    A hard brittle metallic element found primarily in the minerals pyrolusite, hausmannite and manganite. Manganese is essential to the production of virtually all steels and is important in the production of cast iron.
  • Metallurgical coal
    A bituminous hard coal with a quality that allows the production of coke. Normally used in coke ovens for metallurgical purposes.
  • Methanol
    An alcohol fuel largely used in the production of chemical and plastic compounds.
  • Mineral deposit(s)
    A mineralized body that has been intersected by a sufficient number of closely spaced drill holes and/or underground/surface samples to support sufficient tonnage and grade of metal(s) or mineral(s) of interest to warrant further exploration-development work.
  • Mineral resource
    A concentration or occurrence of minerals of economic interest in such form and quantity that could justify an eventual economic extraction. The location, quantity, grade, geological characteristics and continuity of a mineral resource are known, estimated or interpreted from specific geological evidence through drill holes, trenches and/or outcrops. Mineral resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured Resources.
  • Mtpy
    Million metric tons per year.
  • Nickel
    A silvery white metal that takes on a high polish. It is hard, malleable, ductile, somewhat ferromagnetic, and a fair conductor of heat and electricity. It belongs to the iron-cobalt group of metals and is chiefly valuable for the alloys it forms, such as stainless steel and other corrosion-resistant alloys.
  • Nickel laterite
    Deposits are formed by intensive weathering of olivine-rich ultramafic rocks such as dunite, peridotite and komatite.
  • Nickel limonitic laterite
    Type of nickel laterite located at the top of the laterite profile. It consists largely of goethite and contains 1-2% nickel. Also contains concentrations on cobalt.
  • Nickel matte
    An intermediate smelter product that must be further refined to obtain pure metal.
  • Nickel pig iron
    A low-grade nickel product, made from lateritic ores, suitable primarily for use in stainless steel production. Nickel pig iron typically has a nickel grade of 1.5-6% produced from blast furnaces. Nickel pig iron can also contain chrome, manganese, and impurities such as phosphorus, sulfur and carbon. Low grade ferro-nickel (FeNi) produced in China through electric furnaces is often also referred to as nickel pig iron.
  • Nickel saprolitic laterite
    Type of nickel laterite located at the bottom of the laterite profile and contains on average 1.5-2.5% nickel.
  • Nickel sulfide
    Formed through magmatic processes where nickel combines with sulphur to form a sulphide phase. Pentlandite is the most common nickel sulphide ore mineral mined and often occurs with chalcopyrite, a common copper sulphide mineral.
  • Ntk
    Net ton (the weight of the goods being transported excluding the weight of the wagon) kilometer.
  • Open-pit mining
    Method of extracting rock or minerals from the earth by their removal from an open pit. Open-pit mines for extraction of ore are used when deposits of commercially useful minerals or rock are found near the surface; that is, where the overburden (surface material covering the valuable deposit) is relatively thin or the material of interest is structurally unsuitable for underground mining.
  • Oxides
    Compounds of oxygen with another element. For example, magnetite is an oxide mineral formed by the chemical union of iron with oxygen.
  • Ozpy
    Troy ounces per year.
  • Palladium
    A silver-white metal that is ductile and malleable, used primarily in automobile-emissions control devices, jewelry, electrical and chemical applications.
  • PCI
    Pulverized coal injection. Type of coal with specific properties ideal for direct injection via the tuyeres of blast furnaces. This type of coal does not require any processing or coke making, and can be directly injected into the blast furnaces, replacing lump cokes to be charged from the top of the blast furnaces.
  • Pellet feed fines
    Ultra-fine iron ore (less than 0.15 mm) generated by mining and grinding. This material is aggregated into iron ore pellets through an agglomeration process.
  • Pelletizing
    Iron ore pelletizing is a process of agglomeration of ultra-fines produced in iron ore exploitation and concentration steps. The three basic stages of the process are: (i) ore preparation (to get the correct fineness); (ii) mixing and balling (additive mixing and ball formation); and (iii) firing (to get ceramic bonding and strength).
  • PGMs
    Platinum group metals. Consist of platinum, palladium, rhodium, ruthenium, osmium and iridium.
  • Phosphate
    A phosphorous compound, which occurs in natural ores and is used as a raw material for primary production of fertilizer nutrients, animal feeds and detergents.
  • Pig iron
    Product of smelting iron ore usually with coke and limestone in a blast furnace.
  • Platinum
    A dense, precious, grey-white transition metal that is ductile and malleable and occurs in some nickel and copper ores. Platinum is resistant to corrosion and is used primarily in jewelry, and automobile-emissions control devices.
  • Potash
    A potassium chloride compound, chiefly KCl, used as simple fertilizer and in the production of mixture fertilizer.
  • Precious metals
    Metals valued for their color, malleability, and rarity, with a high economic value driven not only by their practical industrial use, but also by their role as investments. The widely-traded precious metals are gold, silver, platinum and palladium.
  • Primary nickel
    Nickel produced directly from mineral ores.
  • Probable (indicated) reserves
    Reserves for which quantity and grade and/or quality are computed from information similar to that used for proven (measured) reserves, but the sites for inspection, sampling and measurement are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven (measured) reserves, is high enough to assume continuity between points of observation.
  • Proven (measured) reserves
    Reserves for which (a) quantity is computed from dimensions revealed in outcrops, trenches, working or drill holes; grade and/or quality are computed from the results of detailed sampling and (b) the sites for inspection, sampling and measurement are spaced so closely and the geologic character is so well defined that size, shape, depth and mineral content of reserves are well-established.
  • Real, reais or R$
    The official currency of Brazil is the real (singular) (plural: reais).
  • Reserves
    The part of a mineral deposit that could be economically and legally extracted or produced at the time of the reserve determination.
  • Rhodium
    A hard, silvery-white, durable metal that has a high reflectance and is primarily used in combination with platinum for automobile-emission control devices and as an alloying agent for hardening platinum.
  • ROM
    Run-of-mine. Ore in its natural (unprocessed) state, as mined, without having been crushed.
  • Ruthenium
    A hard, white metal that can harden platinum and palladium used to make severe wear-resistant electrical contacts and in other applications in the electronics industry.
  • Seaborne market
    Comprises the total ore trade between countries using ocean bulk vessels.
  • Secondary or scrap nickel
    Stainless steel or other nickel-containing scrap.
  • Silver
    A ductile and malleable metal used in photography, coins and medal fabrication, and in industrial applications.
  • Sinter feed (also known as fines)
    Iron ore fines with particles in the range of 0.15 mm to 6.35 mm in diameter. Suitable for sintering.
  • Sintering
    The agglomeration of sinter feed, binder and other materials, into a coherent mass by heating without melting, to be used as metallic charge into a blast furnace.
  • Slabs
    The most common type of semi-finished steel. Traditional slabs measure 10 inches thick and 30-85 inches wide (and average 20 feet long), while the output of the recently developed ‘‘thin slab’’ casters is two inches thick. Subsequent to casting, slabs are sent to the hot-strip mill to be rolled into coiled sheet and plate products.
  • Stainless steel
    Alloy steel containing at least 10% chromium and with superior corrosion resistance. It may also contain other elements such as nickel, manganese, niobium, titanium, molybdenum, copper, in order to improve mechanical, thermal properties and service life. It is primarily classified as austenitic (200 and 300 series), ferritic (400 series), martensitic, duplex or precipitation hardening grades.
  • Stainless steel scrap ratio
    The ratio of secondary nickel units (either in the form of nickel-bearing, stainless steel scrap, or in alloy steel, foundry and nickel-based alloy scrap) relative to all nickel units consumed in the manufacture of new stainless steel.
  • Thermal coal
    A type of coal that is suitable for energy generation in thermal power stations.
  • Troy ounce
    One troy ounce equals 31.103 grams.
A B C D E F G H I K L M N O P R S T U