B08 Metal Ore Mining

CME rejects divide with Rio Tinto on Indigenous heritage protection

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Original article by Stuart McKinnon
The West Australian – Page: Online : 16-Mar-22

Rio Tinto has expressed support for moves at both state and federal level to strengthen cultural heritage protection laws. Rio Tinto has been under intensive scrutiny in the wake of its destruction of ancient indigenous rock shelters at Juukan Gorge in May 20202. The Australasian Centre for Corporate Responsibility has welcomed Rio Tinto’s support for legislative action at federal level, which has put the resources giant at odds with the Chamber of Minerals & Energy of Western Australia; the CME is of the view that indigenous heritage protection should be addressed at state level.

CORPORATES
RIO TINTO LIMITED – ASX RIO, THE CHAMBER OF MINERALS AND ENERGY OF WESTERN AUSTRALIA INCORPORATED, AUSTRALASIAN CENTRE FOR CORPORATE RESPONSIBILITY

Aussie gold production set to grow

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Original article by Stuart McKinnon
The West Australian – Page: Online : 16-Mar-22

Fitch Solutions is upbeat regarding the near-term outlook for Australian gold producers. The research house has forecast that local gold production will grow by an average of one per cent over 2022-2026, and gold output will rise from 10.8 million ounces in 2021 to at least 11.15 million ounces in 2031. The firm now expects the gold price to average $US1,900/oz in 2022, compared with its previous forecast of $US1,700/oz; it notes that the invasion of Ukraine has prompted renewed interest in gold as a ‘safe haven’ asset.

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FITCH SOLUTIONS

China’s iron ore platform could trigger a shift in pricing power

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Original article by Alex Gluyas
The Australian Financial Review – Page: 25 : 23-Feb-22

The Chinese government is developing a centralised state-backed platform for the nation’s steel industry to buy iron ore, according to a report from Bloomberg. Tyler Broda of RBC Capital Markets says the implications of such a move could be "wide-ranging and material". Vivek Dhar from the Commonwealth Bank adds that a centralised platform could potentially reduce iron ore prices in the medium to longer term. Chinese steel producers have long argued that large iron ore miners hold too much pricing power.

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BLOOMBERG LP, RBC CAPITAL MARKETS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Fortescue plans huge wind and solar farm

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Original article by Nick Evans
The Australian – Page: 18 : 10-Feb-22

Fortescue Metals Group’s clean energy arm has revealed plans to build a wind and solar energy farm to provide renewable energy for the Eliwana iron ore mine in the Pilbara. The proposed renewable energy hub will be partially built on the Uaroo pastoral station, which is owned by a subsidiary of Andrew Forrest’s private investment arm, Tattarang. Fortescue Future Industries plans to commence work on the project as soon as it receives environmental approval from the Western Australian government.

CORPORATES
FORTESCUE FUTURE INDUSTRIES PTY LTD, FORTESCUE METALS GROUP LIMITED – ASX FMG, TATTARANG PTY LTD

Unions weigh in on Rio’s woes

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Original article by Peter Ker, David Marin-Guzman, Sally Patten
The Australian Financial Review – Page: 3 : 3-Feb-22

Mining & Energy Union president Tony Maher says the deunionisation of Rio Tinto’s workforce in the 1990s contributed to the toxic culture that has been exposed by former sex discrimination commissioner Elizabeth Broderick. Her review of Rio Tinto’s culture found that conduct such as bullying, sexual harassment and racism are rife within the resources giant. Brad Gandy from the Australian Workers’ Union says it has been warning Rio Tinto of problems with its culture for many years; he adds that bullying occurs at Rio Tinto’s iron ore operations on a daily basis.

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RIO TINTO LIMITED – ASX RIO, MINING AND ENERGY UNION, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES

Relief as almost all BHP workers from Yandi mine test negative for Covid

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Original article by Danielle Le Messurier
The West Australian – Page: Online : 3-Feb-22

BHP appears to have avoided a large outbreak of COVID-19 at its Yandi iron ore mine in the Pilbara. BHP had ordered 78 workers to self-isolate at its Spinifex accommodation village after a rail maintenance contactor tested positive and spread the virus to a close contact. Most of the workers have now been cleared of the virus and have been released from isolation. However, 18 close contacts of the two positive cases must remain in isolation for 14 days, while BHP has not yet received the test results for one casual contact.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Iron ore miners win port export boost

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Original article by Peter Ker
The Australian Financial Review – Page: 1 & 22 : 2-Feb-22

Some 523 million tonnes of iron ore were shipped through Port Hedland in 2020-21. The Western Australian government has approved a development plan that could see the port’s iron ore export capacity increase to around 660 million tonnes a year. The government has advised that BHP, Fortescue Metals Group and Roy Hill are each likely to receive a 25 per cent increase in their port allocations. In addition, Hancock Prospecting and Mineral Resources have won the right to build a new berth at Port Hedland.

CORPORATES
BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, ROY HILL HOLDINGS PTY LTD, HANCOCK PROSPECTING PTY LTD, MINERAL RESOURCES LIMITED – ASX MIN

Report damns Rio’s culture of bullying

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Original article by Peter Ker
The Australian Financial Review – Page: 15 & 22 : 2-Feb-22

A review of Rio Tinto’s internal culture by former sex discrimination commissioner Elizabeth Broderick has revealed that inappropriate conduct is rife within the resources giant. More than 48 per cent of employees who participated in the review said they had experienced bullying at work, with workers in the company’s Pilbara iron ore division reporting the highest levels of bullying. In addition, about 28 per cent of female employees said that they had been subjected to sexual harassment, while nearly 40 per cent of indigenous Australian employees said they had been subject to racism within the last five years. Rio Tinto CEO Jakob Stausholm has committed to implementing all of Broderick’s recommendations.

CORPORATES
RIO TINTO LIMITED – ASX RIO

BHP reports second COVID-positive case at Yandi mine

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Original article by Stuart McKinnon
The West Australian – Page: Online : 1-Feb-22

BHP has advised that a close contact of a rail maintenance contractor at its Yandi iron ore mine in the Pilbara has also tested positive for COVID-19. All casual and close contacts of the contractor are now self-isolating at the nearby Spinifex accommodation village; casual contacts will be permitted to return to work if they return a negative PCR test, but 14 workers who are close contacts of the contractor must remain in quarantine for two weeks. Ten close contacts of a Covid-positive worker at 29Metals’ Golden Grove polymetallic mine in Western Australia are also in isolation.

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BHP GROUP LIMITED – ASX BHP29METALS LIMITED – ASX 29M

Privacy fight for BHP vax order as miners caught faking jabs

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 6 : 19-Jan-22

BHP has defended its decision to require all employees to provide proof of their COVID-19 vaccination status by 31 January. The resources group says it needs all relevant information to ensure that employees are not faking their vaccination status. A spokesman says that immunisation history statements and COVID-19 digital certificates will only be viewed by members of BHP’s health and medical teams. The CFMEU has expressed concern about the privacy implications of BHP’s policy, and has taken the matter to the Fair Work Commission.

CORPORATES
BHP GROUP LIMITED – ASX BHP, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA