B08 Metal Ore Mining

BHP’s Mackenzie bullish on China

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Original article by John Kehoe
The Australian Financial Review – Page: 20 : 18-Sep-15

The iron ore price fell by 3.2 per cent to $US62 per tonne on China’s Dalian Commodity Exchange on 17 September 2015. BHP Billiton CEO Andrew Mackenzie concedes that rising iron ore output could put further downward pressure on the price of the steel input. However, Mackenzie says he is much more upbeat about the economic outlook for China – the key market for Australian commodities – than he was earlier in 2015.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, DALIAN COMMODITY EXCHANGE, RIO TINTO LIMITED – ASX RIO, UNITED STATES CHAMBER OF COMMERCE, WORLD BANK, APPLE INCORPORATED, DEMOCRATIC PARTY (UNITED STATES)

Atlas Iron lifts, nickel miners slump

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Original article by Tess Ingram
The Australian Financial Review – Page: 19 : 11-Sep-15

Atlas Iron has reported higher margins for August 2015, while it has achieved its full-year iron ore production target four months ahead of schedule. Meanwhile, the sharp downturn in the nickel price over the last year has weighed heavily on smaller Western Australia-focused nickel producers. Some have scaled back production or closed mines, while there is speculation that others will do so as well.

CORPORATES
ATLAS IRON LIMITED – ASX AGO, INDEPENDENCE GROUP NL – ASX IGO, PANORAMIC RESOURCES LIMITED – ASX PAN, MINCOR RESOURCES NL – ASX MCR, POSEIDON NICKEL LIMITED – ASX POS, UBS HOLDINGS PTY LTD, GMP SECURITY PTY LTD, SIRIUS RESOURCES NL, BHP BILLITON LIMITED – ASX BHP, NICKEL WEST, McALEESE LIMITED – ASX MCS, QUBE HOLDINGS LIMITED – ASX QUB, MACA LIMITED – ASX MLD, PATERSONS SECURITIES LIMITED, WESTERN AREAS LIMITED – ASX WSA

BHP inches ahead of Rio in price race

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Original article by Amanda Saunders
The Australian Financial Review – Page: 17 : 7-Sep-15

UBS mining analyst Glyn Lawcock estimates that BHP Billiton’s iron ore division may have reduced its break-even price to around $US28 ($A40.50) per tonne. This would be slightly below the break-even price of rival Rio Tinto. In 2014, BHP had flagged plans to overtake Rio Tinto as the lowest-cost supplier of iron ore to the Chinese market. The iron ore price is currently trading at around $US55 per tonne.

CORPORATES
BHP BILLITON LIMITED – ASX BHP RIO TINTO LIMITED – ASX RIO UBS HOLDINGS PTY LTD FORTESCUE METALS GROUP LIMITED – ASX FMG ROY HILL HOLDINGS PTY LTD VALE SA DEUTSCHE BANK AG

Silver lining in mineral hunt cloud

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Original article by Tess Ingram
The Australian Financial Review – Page: 18 : 1-Sep-15

The national spend on exploration fell 33 per cent year on year to $A322 million in the June 2015 quarter, according to the Australian Bureau of Statistics. It fell to its lowest level in nine years as miners cut back on costs and expenditure in the face of declining commodities prices. But it was not all bad news. The number of metres drilled was down only nine per cent, suggesting the industry was getting more for its money as costs were slashed in the search for the next generation of mines.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, MINEX CONSULTING PTY LTD, ASSOCIATION OF MINING AND EXPLORATION COMPANIES

Palmer sues CITIC for $A10b over iron ore project

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Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 1-Sep-15

Resources owner and federal MP Clive Palmer has filed a $A10 billion law suit against CITIC over its iron ore project in Western Australia. He alleges a breach of a commercial arrangement involving iron ore royalties. Palmer also launched a separate $A170 million claim against two directors of CITIC subsidiaries based in Perth and a CITIC Capital director in Hong Kong.

CORPORATES
CITIC LIMITED, SINO IRON PTY LTD, CITIC CAPITAL PARTNERS LIMITED, SUPREME COURT OF WESTERN AUSTRALIA, MINERALOGY PTY LTD, CITIC PACIFIC MINING MANAGEMENT PTY LTD, PALMER UNITED PARTY

WA chilling as big miners cut $20b spending

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Original article by Julie-anne Sprague
The Australian Financial Review – Page: 4 : 31-Aug-15

In the past three years, BHP Billiton, Rio Tinto and Fortescue Metals have reduced operational spending by $US14.3 billion ($A19.9 billion). Most cuts were made in their iron ore operations in Western Australia. The mining giants intend to continue their cost-cutting initiatives. They are even raising their cost-cutting targets, with Rio Tinto’s lifting its target for 2015-16 from $US750 million to $US1 billion.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESFARMERS LIMITED – ASX WES, CBRE PTY LTD, JONES LANG LASALLE AUSTRALIA PTY LTD

BHP’s Mackenzie says China has ‘bottomed’

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Original article by James Chessell, Amanda Saunders
The Australian Financial Review – Page: 17 : 27-Aug-15

BHP Billiton CEO Andrew Mackenzie has played down fears about China’s economy, claiming it was showing signs of recovery. He agreed with Apple CEO Tim Cook that there was still solid demand in China. Mackenzie forecast its second half financial year would be better than the first. BHP posted a 51 per cent fall in underlying annual profit to $US6.4 billion ($A8.9 billion) because of a slump in commodity prices.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, APPLE INCORPORATED, GLENCORE AUSTRALIA PTY LTD

Update Report on Haoma’s Test Work at Bamboo Creek

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Original article by
Australian Stock Exchange Announcements – Page: Online : 26-Aug-15

Australian-listed minerals exploration company Haoma Mining has issued an update on progress on test work at its Bamboo Creek project in Western Australia. The company states in the announcement that, in its June 2015 Quarterly Activities Report, shareholders were informed that test work on Bamboo Creek Tailings and other ore samples had successfully produced concentrates which contained significant grades of precious metals – gold, silver and platinum group metals (PGM). Since the June Quarter Report test work has continued at both Bamboo Creek and the University of Melbourne on the two stages of recovering precious metals from Bamboo Creek Tailings and other ore samples. Samples of Bamboo Creek Tailings and various iron ore samples have been processed successfully using Haoma’s Elazac Process to produce concentrates which contain significant quantities of precious metals – without smelting and without acid digestion. Test work continues with a view to determining the best method of efficiently recovering the gold, silver and individual PGM from the concentrates produced; and the best partner for the commercial refining of those concentrates.

CORPORATES
HAOMA MINING NL – ASX HAO, THE ROY MORGAN RESEARCH CENTRE PTY LTD, UNIVERSITY OF MELBOURNE

Clay forces Hope Downs rethink

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Original article by Nick Evans
The West Australian – Page: online : 25-Aug-15

Rio Tinto is experiencing technical problems at the Hope Downs 1 iron ore project in Western Australia. The company found that ”clay-like geothetic material” at Hope Downs 1’s two main deposits clogs up processing equipment. The problem has an adverse impact on production rates at Hope Downs 1. Rio Tinto applied to the state’s Environmental Protection Authority to be allowed to mine the nearby Baby Hope deposit. Dry material from the deposit is suitable for blending with the clay that causes mechanical problems.

CORPORATES
RIO TINTO LIMITED – ASX RIO, WESTERN AUSTRALIA. ENVIRONMENTAL PROTECTION AUTHORITY, HANCOCK PROSPECTING PTY LTD, BC IRON LIMITED – ASX BCI, FORTESCUE METALS GROUP LIMITED – ASX FMG

Fortescue slumps but talks up asset values

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Original article by Amanda Saunders
The Australian Financial Review – Page: 15 : 25-Aug-15

Fortescue CFO Stephen Pearce says the company’s "world class" mining and port and rail assets in the Pilbara region of Western Australia are worth more than the $A20 billion it cost to develop them. Fortescue CEO Nev Porter put the 14.6 per cent fall in Fortescue’s share price down to a "flighty" market. UBS calculates the net valuation of the assets at $A12 billion.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, UBS HOLDINGS PTY LTD, CITIGROUP PTY LTD, HEBEL, TEWOO GROUP