Original article by Matt Chambers, Barry FitzGerald
The Australian – Page: 19 : 19-Sep-14
The share price of steel and iron ore miner Arrium fell on 18 September 2014 after its capital raising. The company wanted to raise $A754 million. However, only 79 per cent of institutional shareholders participated, raising $A465 million. Arrium’s stock dropped by $A0.0165 to a record low of $A0.40
CORPORATES
ARRIUM LIMITED – ASX ARI, BHP BILLITON LIMITED – ASX BHP, ALLAN GRAY AUSTRALIA PTY LTD
Original article by Leo Shanahan
The Australian – Page: 21 : 17-Sep-14
A court decision will reduce iron ore royalties for Hancock Prospecting and Wright Prospecting by $A80 million. The companies wanted $A200 million from Rio Tinto, in a dispute stemming from royalty agreements made in the 1960s with Hamersley Iron, now a subsidiary of Rio Tinto. Part of Rio’s appeal was dismissed, but the court found that the joint venture Hanright was not entitled to royalties from the Channar agreement
CORPORATES
RIO TINTO LIMITED – ASX RIO, HANCOCK PROSPECTING PTY LTD, WRIGHT PROSPECTING PTY LTD, HAMERSLEY IRON PTY LTD, HIGH COURT OF AUSTRALIA
Original article by Sarah-Jane Tasker
The Australian – Page: 20 : 17-Sep-14
The iron price gained four per cent in overnight trading on 15 September 2014, rising to $US85 per tonne. Shares in Australian-listed iron ore producers rallied in response. However, independent market strategist David Scutt notes that sharp gains in the iron ore price often occur between September and November
CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, BC IRON LIMITED – ASX BCI, ATLAS IRON LIMITED – ASX AGO, MOUNT GIBSON IRON LIMITED – ASX MGX, DFP RECRUITMENT SERVICES PTY LTD
Original article by Barry FitzGerald
The Australian – Page: 19 : 11-Sep-14
Government revenue and the profits of major Australian-listed mining companies will be hit by the downturn in the iron ore price, which is currently trading at around $US83.20 per tonne. Macquarie Group has responded by reducing its profit forecasts for BHP Billiton, Rio Tinto and Fortescue Metals Group by a combined $US3.93bn in 2015 and $US4.76bn in 2016. Macquarie expects the iron ore price to trade at $US92/tonne in 2015
CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, MACQUARIE GROUP LIMITED – ASX MQG, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, STANDARD AND POOR’S CORPORATION, ATLAS IRON LIMITED – ASX AGO, CLIFFS NATURAL RESOURCES INCORPORATED
Original article by Barry FitzGerald
The Australian – Page: 19 : 11-Sep-14
Government revenue and the profits of major Australian-listed mining companies will be hit by the downturn in the iron ore price, which is currently trading at around $US83.20 per tonne. Macquarie Group has responded by reducing its profit forecasts for BHP Billiton, Rio Tinto and Fortescue Metals Group by a combined $US3.93bn in 2015 and $US4.76bn in 2016. Macquarie expects the iron ore price to trade at $US92/tonne in 2015
CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, MACQUARIE GROUP LIMITED – ASX MQG, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, STANDARD AND POOR’S CORPORATION, ATLAS IRON LIMITED – ASX AGO, CLIFFS NATURAL RESOURCES INCORPORATED
Original article by Barry FitzGerald
The Australian – Page: 19 : 11-Sep-14
Government revenue and the profits of major Australian-listed mining companies will be hit by the downturn in the iron ore price, which is currently trading at around $US83.20 per tonne. Macquarie Group has responded by reducing its profit forecasts for BHP Billiton, Rio Tinto and Fortescue Metals Group by a combined $US3.93bn in 2015 and $US4.76bn in 2016. Macquarie expects the iron ore price to trade at $US92/tonne in 2015
CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, MACQUARIE GROUP LIMITED – ASX MQG, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, STANDARD AND POOR’S CORPORATION, ATLAS IRON LIMITED – ASX AGO, CLIFFS NATURAL RESOURCES INCORPORATED
Original article by Jenny Wiggins
The Australian Financial Review – Page: 17 : 9-Sep-14
Falling iron ore prices have had a negative impact on engineering and mining contractors providing services to iron ore mining companies. Analysts have downgraded their ratings, and the share prices of companies such as Mineral Resources, NRW Holdings and Macmahon Holdings are likely to be under pressure. The stock of Mineral Resources fell 1.8 per cent on 8 September 2014 after it was downgraded by RBC Capital Markets from "outperform" to "sector perform"
CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, NRW HOLDINGS LIMITED – ASX NWH, MACMAHON HOLDINGS LIMITED – ASX MAH, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTERN DESERT RESOURCES LIMITED – ASX WDR, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, LEIGHTON HOLDINGS LIMITED – ASX LEI, DOWNER EDI LIMITED – ASX DOW, MONADELPHOUS GROUP LIMITED – ASX MND, AUSTIN ENGINEERING LIMITED – ASX ANG, BRADKEN LIMITED – ASX BKN, EMECO HOLDINGS LIMITED – ASX EHL, RBC CAPITAL MARKETS
Original article by Andrew Burrell
The Australian – Page: 15 : 8-Sep-14
The owners of Super Pit operator Kalgoorlie Consolidated Gold Mines (KCGM), US-based Barrick Gold and Newmont Mining, have been criticised by residents of the Western Australian town. They note that no information on any expansion plans by KCGM for the mine has been released to them, while the parent companies have mentioned promising new drilling data to investors overseas. The main issue is potential underground work in the Central Corridor area, where high-grade ores are said to have been encountered
CORPORATES
KALGOORLIE CONSOLIDATED GOLD MINES PTY LTD, BARRICK GOLD CORPORATION, NEWMONT MINING CORPORATION
Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 16 : 8-Sep-14
A number of prominent Australian business leaders are among the shareholders of failed iron ore producer Western Desert Resources. They include Bruce Mathieson, Roger Corbett, Scott Perrin and chairman Rick Allert. Shares in Western Desert last traded at $A0.145, compared with $A0.82 in October 2014. The company has advised that the sharp decline in the iron ore price contributed to its collapse
CORPORATES
WESTERN DESERT RESOURCES LIMITED – ASX WDR, MACQUARIE BANK LIMITED – ASX MBL, KORDA MENTHA AND COLLEAGUES PTY LTD, FERRIER HODGSON AND COMPANY, THIESS PTY LTD, BILLABONG INTERNATIONAL LIMITED – ASX BBG, COLES MYER LIMITED, TOURISM AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, FAIRFAX MEDIA LIMITED – ASX FXJ, BHP BILLITON LIMITED – ASX BHP, SHERWIN IRON LIMITED – ASX SHD, TERRITORY RESOURCES LIMITED, MEIJIN ENERGY GROUP COMPANY LIMITED, NOBLE RESOURCES NL
Original article by Jacob Greber, Angela Macdonald-Smith, Vesna Poljak
The Australian Financial Review – Page: 1 & 4 : 8-Sep-14
The iron ore price has fallen to $US83.60 per tonne, and has now shed 38 per cent so far in 2014. The downturn has forced Northern Territory-focused Western Desert Resources into administration. Meanwhile, former federal government minister Peter Reith has warned that Australia will eventually face another recession and reforms should be implemented now in order to reduce the impact of any economic downturn
CORPORATES
WESTERN DESERT RESOURCES LIMITED – ASX WDR, RESERVE BANK OF AUSTRALIA, FAIRFAX MEDIA LIMITED – ASX FXJ
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