B08 Metal Ore Mining

Rio, Japanese in Pilbara mine deal

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Original article by Mark Wembridge
The Australian Financial Review – Page: 16 : 8-Oct-25

Rio Tinto has secured state and federal government approvals to develop new iron ore deposits at the West Angelas hub in the Pilbara. Rio Tinto and its Robe River joint venture partners, Mitsui and Nippon Steel, will invest $US733m ($1.1bn) to expand the West Angelas mine, with Rio Tinto to contribute $US389m. The expansion of West Angelas will maintain its annual production capacity of 35 million tonnes. Rio Tinto launched its Western Range iron ore joint venture with China-based Baowu in June, as part of its ongoing commitment to the Pilbara.

CORPORATES
RIO TINTO LIMITED – ASX RIO, MITSUI AND COMPANY LIMITED, NIPPON STEEL AND SUMITOMO METAL CORPORATION, CHINA BAOWU STEEL GROUP CORPORATION LIMITED

BHP stays silent on China’s iron ore ban

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Original article by Brad Thompson
The Australian – Page: 15 : 1-Oct-25

State-run iron ore trader China Mineral Resources Group is said to have imposed a temporary ban on BHP’s shipments of the steel input due to an ongoing dispute over the renewal of long-term supply contracts. The dispute began in mid-September, when CMRG instructed steel mills not to accept delivery of a BHP product known as Jimblebar blend fines or to buy such shipments on the spot market; the ban has now been extended to all BHP iron ore shipments, according to Bloomberg. CMRG was established in 2022 to improve China’s ability to negotiate with iron ore miners, and it now represents more than half of China’s steelmakers in contract discussions. BHP has declined to comment on the import ban.

CORPORATES
BHP GROUP LIMITED – ASX BHP, CHINA MINERAL RESOURCES GROUP COMPANY LIMITED

MinRes chairman in line for $11m windfall

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Original article by Mark Wembridge
The Australian Financial Review – Page: 14 & 19 : 24-Sep-25

The annual salary of Mineral Resources’ non-executive chairman Malcolm Bundey comprises $750,000 in cash and shares. However, Bundey will also be entitled to 780,000 stock options, subject to approval by shareholders at the iron ore and lithium miner’s AGM in November. His stock options will vest between $30 and $40 a share, and they have an exercise price of $25.40. Bundey’s options will be worth about $11.39m if the company’s shares remain above $40 at certain points over the next three years. Mineral Resources’ shares are currently trading at around $40, having reached a low of $14 in April.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN

BHP chief issues warning on impact of Australia’s inflated energy costs

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Original article by Perry Williams
The Australian – Page: 13 & 19 : 16-Sep-25

BHP CEO Mike Henry has told a shareholder forum that the cost of electricity in Australia is much higher than in countries that it is competing with for investments, with Henry citing the US as a prime example. He said that Australia needs to have "stable, reliable and affordable energy on the path to net zero"; he also noted that the resurgence in demand for nuclear power has boosted demand for uranium, with BHP among the world’s top 10 uranium producers. On the question of copper, BHP is aiming to more than double production in South Australia over the next decade, although a final investment decision on a major smelter upgrade at its Olympic Dam mine is not expected until 2028.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Rio Tinto in sweetheart tax deal with Guinea junta

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Original article by Peter Ker, Mark Wembridge
The Australian Financial Review – Page: 14 & 18 : 10-Sep-25

Rio Tinto and its partners have negotiated a corporate tax rate of just 15 per cent for the rail and port component of the Simandou iron ore project in Guinea. This tax rate will apply for the first 17 years of operation of the port and rail infrastructure, before rising to 25 per cent; this compares with the standard corporate tax rate of 35 per cent in Guinea. The iron ore mines will have a different tax arrangement. Rio Tinto, Singapore-based Winning International and Chinese steelmaker Baowu are investing $US23.2 billion ($35.1 billion) on the two Simandou iron ore mines and the associated rail and port infrastructure. Iron ore shipments are slated to commence in November.

CORPORATES
RIO TINTO LIMITED – ASX RIO, WINNING INTERNATIONAL, CHINA BAOWU STEEL GROUP CORPORATION LIMITED

BHP pays $110m to settle dam class action

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Original article by Brad Thompson
The Australian – Page: 15 : 10-Sep-25

BHP has reached an out-of-court settlement over a class action that was launched on behalf of Australian investors who bought its shares in the three years or so before the collapse of an iron ore tailings dam in Brazil on 5 November 2015. BHP’s shares fell by 22 per cent in the wake of the disaster; amongst other things, BHP was accused of failing to disclose material information to the market and engaging in misleading or deceptive conduct by claiming that safety was its highest priority. BHP agreed to pay $110m shortly before the case was scheduled to be heard by the Federal Court. However, US-based litigation funder G&E KTMC Funding is expected to be entitled to a significant share of the payout.

CORPORATES
BHP GROUP LIMITED – ASX BHP, FEDERAL COURT OF AUSTRALIA, G&E KTMC FUNDING

High-grade threat to Australian iron ore

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Original article by Jennifer Hewett
The Australian Financial Review – Page: 2 : 3-Sep-25

Australia exported about $120 billion worth of iron ore from the Pilbara during 2024-25. However, Vale executive Rogerio Nogueira contends that Brazil has a key advantage over Australia because its iron ore is better suited to beneficiation; this process removes contaminants such as silicon or alumina to produce the higher-grade ore that will be needed to make steel using natural gas or hyrogen instead of coal. Australia’s iron ore miners are already facing the problem of decline ore grades in the Pilbara.

CORPORATES
VALE SA

South32 chief in blast over green tape

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Original article by Brad Thompson
The Australian – Page: 17 : 3-Sep-25

Diversified miner South32 battled the bureaucracy for more than seven years to secure approval to continue operating its Worley bauxite and alumina business in Western Australia. Meanwhile, difficulty in gaining approval for an extension to the Dendrobium coal mine in the Illawarra region of NSW prompted South32 to sell the asset in 2024. South32 CEO Graham Kerr says the Trump administration has made it much easier to gain environmental approval for US mining projects compared with Australia. The company is on track to gain all approvals for its Hermosa critical minerals project in less than four years; it was the first project to be added to the FAST-41 list.

CORPORATES
SOUTH32 LIMITED – ASX S32

Trump slams activists over Rio, BHP copper mine delay

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Original article by Jessica Gardner
The Australian Financial Review – Page: Online : 20-Aug-25

The US Department of Agriculture’s Forest Service division gave final environmental approval for the Resolute Copper project in June. However, the US 9th Circuit Court has granted a temporary administrative injunction to block the transfer of land that is necessary for the BHP and Rio Tinto project in Arizona to proceed to its next stage. President Donald Trump has criticised the coalition of activists that had sought the injunction; he has stated on the Truth Social platform that the activists are "anti-American" and represent other countries that compete in the copper sector. Trump also targeted the "radical left" court for delaying the copper project.

CORPORATES
BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, RESOLUTION COPPER MINING LLC, UNITED STATES. DEPT OF AGRICULTURE. FOREST SERVICE, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

BHP cuts spending, warns of job losses to weather slide in earnings

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Original article by Peter Ker
The Australian Financial Review – Page: 16 : 20-Aug-25

BHP has posted a 2024-25 underlying net profit of $US10.15bn ($15.63bn), which is 26 per cent lower than previously and slightly below analysts’ expectations. The result was marred by lower prices for iron ore and coal, although this was partially offset by a higher copper price. Meanwhile, BHP has advised that it will reduce capital expenditure by $US3bn between 2028 and 2030; a decision on the proposed expansion of its Olympic Dam copper mine in South Australia will also be pushed back to 2028. CEO Mike Henry has flagged the potential for job cuts, particularly at its Queensland coal mines due to the impact of lower prices and the state government’s royalties regime.

CORPORATES
BHP GROUP LIMITED – ASX BHP