B08 Metal Ore Mining

Rio Tinto satisfied with Autohaul fix

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Original article by Peter Ker
The Australian Financial Review – Page: 18 : 11-Oct-16

The head of Rio Tinto’s iron ore division, Chris Salisbury, says the performance of its Autohaul driverless technology is meeting expectations. Rio has been using driverless trucks for a number of years, but a project to roll out autonomous trains at its Western Australian iron ore mines has been delayed due to software issues. This has prompted Rio Tinto to scale back its iron ore production forecast for fiscal 2017. Salisbury said the group will also seek to retrofit its existing haulage equipment with automated technology.

CORPORATES
RIO TINTO LIMITED – ASX RIO, KOMATSU MINING SYSTEMS INCORPORATED, BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, ROY HILL HOLDINGS PTY LTD, CATERPILLAR, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, NATIONAL PARTY OF AUSTRALIA

Mining boss backs Grylls’ levy plan

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Original article by Tess Ingram
The Australian Financial Review – Page: 20 : 7-Oct-16

A proposal to increase the Western Australian iron ore levy paid by BHP Billiton and Rio Tinto has received some support from former Atlas Iron MD Ken Brinsden. He says there should be public debate on the issue, noting that BHP and Rio have benefited significantly from the iron ore lease agreements that were struck in the 1950s and 1960s. He adds that other iron ore producers have state agreements with less favourable terms than those of BHP and Rio.

CORPORATES
BHP BILLITON LIMITED – ASX BHPRIO TINTO LIMITED – ASX RIOATLAS IRON LIMITED – ASX AGONATIONAL PARTY OF AUSTRALIAWESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINETFORTESCUE METALS GROUP LIMITED – ASX FMGHANCOCK PROSPECTING PTY LTDPILBARA MINERALS LIMITED – ASX PLSDAKOTA MINERALS LIMITED – ASX DKOALTURA MINING LIMITED – ASX AJMLITHIUM AUSTRALIA NL – ASX LIT

Gold will shine: Evolution chair

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Original article by Barry FitzGerald
The Australian – Page: 22 : 7-Oct-16

The sharp fall in the gold price in early October 2016 has weighed on the shares of Australian gold producers. However, Evolution Mining executive chairman Jake Klein remains upbeat about the precious metal, arguing that historical analysis suggests that the bull market for gold stocks may not be over. Speculation about an interest rate rise in the US has contributed to the bearish sentiment toward gold, but Klein notes that a mooted rate rise in December would be only the second since 2007.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVNTHE MELBOURNE MINING CLUBUNITED STATES. FEDERAL RESERVE BOARD

Iron ore exporters unlikely to meet shipment guidance

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Original article by David Stringer
The Australian Financial Review – Page: 24 : 6-Oct-16

Macquarie Group forecasts that Rio Tinto’s Western Australian iron ore shipments for 2016 will fall slightly short of its guidance for 330 million tonnes. Macquarie also says BHP Billiton also may not meet its production guidance. Macquarie had forecast that shipments from the state’s major iron ore export terminals would total 216 million tonnes in the September quarter, but new data shows that about 209 million tonnes were shipped.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, MACQUARIE GROUP LIMITED – ASX MQG, ROY HILL HOLDINGS PTY LTD, VALE SA, METAL BULLETIN LIMITED, CITIGROUP PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, DBS GROUP HOLDINGS LIMITED, BLOOMBERG LP

Arrium pushes to free itself from state grid

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Original article by Sid Maher
The Australian – Page: 6 : 5-Oct-16

The Whyalla steelworks could become energy self-sufficient if plans put forward by Arrium’s administrator Mark Korda come to fruition. Full power has yet to be restored to the steelworks and Arrium’s iron ore mining operations following South Australia’s state-wide power outage. Korda is holding talks with the State Government and the Clean Energy Finance Corporation about financing to convert the steelworks’ energy supply to a combination of natural gas and its own waste gases.

CORPORATES
ARRIUM LIMITED – ASX ARI, KORDA MENTHA AND COLLEAGUES PTY LTD, AUSTRALIA. CLEAN ENERGY FINANCE CORPORATION, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES

BHP, Rio spurn WA plan for upfront tax

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Original article by Tess Ingram, Julie-anne Sprague
The Australian Financial Review – Page: 3 : 5-Oct-16

Western Australian Premier Colin Barnett has again ruled out adopting a WA National Party proposal to increase the iron ore levy on BHP Billiton and Rio Tinto from $A0.25 per tonne to $A5. However, Treasurer Mike Nahan has described the levy as an anomaly, and he has held discussions with BHP and Rio regarding alternatives such as an upfront lump-sum payment. Both companies have indicated that they would not support an upfront payment.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, NATIONAL PARTY OF AUSTRALIA, FORTESCUE METALS GROUP LIMITED – ASX FMG, HANCOCK PROSPECTING PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, REACHTEL PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

Miners face $150m hit from blackout

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Original article by Matt Chambers
The Australian – Page: 17 & 27 : 4-Oct-16

OZ Minerals has advised that electric power is unlikely to be restored at its Prominent Hill mine in South Australia for at least another week, while its 2016-17 gold production forecast may not be met as a result. The recent state-wide power outage also halted production at BHP Billiton’s Olympic Dam mine and Arrium’s Whyalla steelworks. Meanwhile, the suspension of production at Nyrstar’s lead smelter at Port Pirie is believed to have contributed to a spike in the price of lead on the London Metal Exchange.

CORPORATES
OZ MINERALS LIMITED – ASX OZL, BHP BILLITON LIMITED – ASX BHP, ARRIUM LIMITED – ASX ARI, NYRSTAR AUSTRALIA PTY LTD, LONDON METAL EXCHANGE LIMITED, KORDA MENTHA AND COLLEAGUES PTY LTD

Miners left reeling as Philippines suspend three-quarters of mines

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Original article by Peter Ker
The Australian Financial Review – Page: 13 : 28-Sep-16

Shares in OceanaGold were suspended from trading on 27 September 2016. The stock had fallen in response to reports that its Didipio mine in the Philippines may be one of 20 that could be forced to halt production after failing an environmental audit. OceanaGold has advised the market that the mine is still operating and the company has not received any formal communication from the Philippines Government regarding the status of the mine. Just 25 per cent of the mines in the Philippines are believed to have passed the audit.

CORPORATES
OCEANAGOLD CORPORATION – ASX OGC, RED 5 LIMITED – ASX RED, WESTERN AREAS LIMITED – ASX WSA, INDEPENDENCE GROUP NL – ASX IGO, PANORAMIC RESOURCES LIMITED – ASX PAN

BHP faces US minimum wage dispute

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Original article by Peter Ker
The Australian Financial Review – Page: 18 : 26-Sep-16

BHP Billiton has been accused of underpaying security personnel in the US. A former employee of BHP contractor Chapa Gate Guard Service has claimed that the two companies did not pay the minimum wage or the correct amount of overtime pay to staff who worked at BHP’s shale sites in Texas. The woman has filed a class action and is seeking the payment of all entitlements and damages. Chesapeake Energy and Chapa Gate Guard Services are also the subject of such legal action.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, CHAPA GATE GUARD SERVICES, CHESAPEAKE ENERGY CORPORATION

US investors take a shine to Aussie gold

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Original article by Tess Ingram
The Australian Financial Review – Page: 19 : 23-Sep-16

Newcrest Mining, Evolution Mining and Saracen Mineral Holdings are among the Australian-listed gold producers to have reported a sharp rise in US-based shareholders over the last 12 months. Resolute Mining MD John Welborn says US investors have shown more interest in Australian gold stocks than usual at the 2016 Denver Gold Forum. Metals X CEO Peter Cook warns that Australian gold producers’ shares are likely to be heavily sold down when offshore investors eventually rebalance their portfolios.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, EVOLUTION MINING LIMITED – ASX EVN, SARACEN MINERAL HOLDINGS LIMITED – ASX SAR, RESOLUTE MINING LIMITED – ASX RSG, METALS X LIMITED – ASX MLX, DORAY MINERALS LIMITED – ASX DRM, GLOBAL MINING RESEARCH PTY LTD, VANECK VECTORS GOLD MINERS ETF – ASX GDX, NORTHERN STAR RESOURCES LIMITED – ASX NST, ST BARBARA LIMITED – ASX SBM