B08 Metal Ore Mining

BHP to destroy at least 40 Aboriginal sites, up to 15,000 years old, to expand Pilbara mine

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Original article by Lorena Allam, Calla Wahlquist
The Guardian Australia – Page: Online : 11-Jun-20

A proposed expansion of BHP’s South Flank iron ore mine that will result in the destruction of rock shelters and other significant indigenous sites was approved by the Western Australian government on 29 May. This was just days after Rio Tinto attracted global criticism for destroying ancient rock shelters during blasting at its Brockman iron ore mine. WA’s Aboriginal Affairs Minister Ben Wyatt has urged BHP to work with the traditional owners to protect the heritage sites.

CORPORATES
BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, WESTERN AUSTRALIA. DEPT OF INDIGENOUS AFFAIRS

Iron ore exporters flag $21b tax boost from port

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Original article by Brad Thompson
The Australian Financial Review – Page: 3 : 10-Jun-20

A report produced by ACIL Allen Consulting has assessed the economic contribution of the Port Hedland export hub. It estimates that the port and its supply chain injected some $54bn into the Western Australian economy in 2019 and supported one in every 12 jobs in the state. The report forecasts that iron ore production linked to Port Hedland will top 547.5 million tonnes in 2022-23, compared with 524.9 million tonnes in 2019-20. It also estimates that increasing shipments via Port Hedland would boost government revenue from taxes and royalties by $21bn over the next decade.

CORPORATES
ACIL ALLEN CONSULTING PTY LTD, PORT HEDLAND INDUSTRY COUNCIL, PILBARA PORTS AUTHORITY, BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, ROY HILL HOLDINGS PTY LTD

Price rises lift Port Hedland iron ore exports

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Original article by Nick Evans
The Australian – Page: Online : 9-Jun-20

Data from the Pilbara Ports Authority shows that iron ore shipments via Port Hedland rose by four per cent year-on-year in May, to 47.8 million tonnes. Australian iron ore producers benefited from a rally in the price of the steel input during May, amid a downturn in stockpiles at Chinese ports as steel mills resumed production. They will also benefit from a court-ordered closure of Vale’s Itabira mining hub due to a coronavirus outbreak. Vale has maintained its revised full-year production guidance of 310-330 million tonnes.

CORPORATES
PILBARA PORTS AUTHORITY, BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, ROY HILL HOLDINGS PTY LTD, ATLAS IRON LIMITED, MINERAL RESOURCES LIMITED – ASX MIN, VALE SA

Iron ore surge a $100b elixir for coronavirus

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Original article by Brad Thompson
The Australian Financial Review – Page: 15 & 21 : 9-Jun-20

The rally in the price of iron ore to more than $US100 a tonne will boost federal government revenue by about $2.3bn. The 2019-20 Budget forecasts were based on the iron ore price averaging about $US62 when shipping costs are included, but it is currently averaging more than $80 a tonne. Australia’s export revenue from iron ore is set to top $100bn in 2019-20, eclipsing the previous annual record of $76bn in 2018-19. Meanwhile, shares in Australia’s three major iron ore producers have rallied since the end of March, and investors are set to receive big dividend payouts for the financial year.

CORPORATES
BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG

Aeris adds gold to copper with $125m Cracow buy

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Original article by Brad Thompson
The Australian Financial Review – Page: 24 : 5-Jun-20

Copper miner Aeris Resources has confirmed a $125 million deal to acquire Evolution Mining’s Cracow gold mine in Queensland. The Cracow mine is forecast to produce between 70,000 and 75,000 ounces of gold in fiscal 2021, while Aeris predicts that Cracow will yield net mine free cash flow of more than $100 million over the first two years of its ownership at the current price of gold. Aeris executive chairman Andre Labuschagne has described the deal as "transformational" for the company. Evolution’s executive chairman Jake Klein says it has no plans to sell other gold mines.

CORPORATES
AERIS RESOURCES LIMITED – ASX AIS, EVOLUTION MINING LIMITED – ASX EVN

Vale fights to meet iron ore guidance

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Original article by Brad Thompson
The Australian Financial Review – Page: 17 : 4-Jun-20

Macquarie Wealth Management’s analysis of port data shows that BHP, Rio Tinto and Fortescue Metals Group are on track to achieve their iron ore export guidance for 2020. However, Macquarie believes that Brazilian rival Vale will struggle to meet its full-year guidance of 310 million to 330 million tonnes, despite ramping up shipments in the last two weeks. Macquarie estimates that Vale will need to export more than six million tonnes per week to achieve the lower end of its guidance; its weekly shipments have averaged 4.5 million tonnes so far in the June quarter.

CORPORATES
BHP GROUP LIMITED – ASX BHP,RIO TINTO LIMITED – ASX RIO,FORTESCUE METALS GROUP LIMITED – ASX FMG,VALE SA,MACQUARIE WEALTH MANAGEMENT

Fortescue facing massive compo bill

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Original article by Brad Thompson
The Australian Financial Review – Page: 3 : 30-May-20

The High Court has rejected Fortescue Metals Group’s bid to overturn a previous Federal Court ruling in favour of the Yindjibarndi Aboriginal Corporation. The case centred on the traditional owners’ native title claim over some 2,700 sq km of land in Western Australia’s Pilbara region; the land in question contains Fortescue’s Solomon iron ore mining hub. The YAC is now expected to seek compensation from Fortescue; this is likely to comprise a percentage of Fortescue’s revenue from iron ore mining in WA.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, YINDJIBARNDI ABORIGINAL CORPORATION, HIGH COURT OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA

Rio Tinto blasting of Juukan Gorge Indigenous site prompts call for heritage protections

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Original article by Toby Hussey, Karen Michelmore, Holly Ferguson
abc.net au – Page: Online : 29-May-20

Rio Tinto recently destroyed two ancient rock caves in Western Australia’s Pilbara region as a result of blasting activity. It had secured permission for the blasting in 2013 under section 18 of the Aboriginal Heritage Act, which allows landowners to seek exemption from laws that ban work that is likely to impact Aboriginal sites. WA Mining and Pastoral Region MP Robin Chapple has called on Aboriginal Affairs Minister Ben Wyatt to review all approved Section 18 notices following the destruction of the caves. Chris Salisbury, the CEO of iron ore at Rio Tinto, says the company takes cultural heritage "very seriously".

CORPORATES
RIO TINTO LIMITED – ASX RIO, WESTERN AUSTRALIA. DEPT OF INDIGENOUS AFFAIRS

Iron ore price surge set to boost WA budget amid Brazil coronavirus crisis and Chinese demand

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Original article by James Carmody
abc.net.au – Page: Online : 29-May-20

The resilience of the iron ore price may provide some relief for the Western Australian government amid growing concern that the state faces a recession. Treasurer Ben Wyatt has indicated that mining royalties could be higher than forecast, which will help to offset a decline in the state’s revenue from other sources. WA’s iron ore industry has benefited from factors such as lower output in Brazil and the state’s closer proximity to China. Meanwhile, the remoteness of WA’s iron ore mines has traditionally been seen as a disadvantage, but it has been regarded as a positive during the coronavirus pandemic.

CORPORATES
WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE

Boom times back for iron ore

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Original article by Nick Evans
The Australian – Page: 13 & 20 : 22-May-20

Adrian Prendergast of Morgans Financial says continued strong demand from China could see the iron ore price rise above $US120 a tonne. Reduced output by Brazilian iron ore group Vale is also likely to boost the price of the steel input; Prendergast notes that Vale’s shipments have totalled just 91 million tonnes so far in 2020, and it will have to ramp up production to meet its revised full-year guidance of 310 to 330 million tonnes. Meanwhile, Australian iron ore miners have downplayed the impact of China’s new rules for inspecting iron ore imports, stressing that they had been planned for some time and were implemented after extensive consultation.

CORPORATES
MORGANS FINANCIAL LIMITED, VALE SA, BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG