B08 Metal Ore Mining

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

‘No regrets’: Rio Tinto’s outgoing CEO marks his scorecard

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Original article by Eric Johnston
The Australian – Page: 13 & 14 : 13-Aug-25

Rio Tinto’s head of iron ore Simon Trott will formally succeed Jakob Stausholm as CEO on 25 August. Stausholm says he is proud of what he has achieved at Rio Tinto since taking up the role in 2021; amongst other things, he addressed the resources group’s cultural issues, rebuilt trust in the company in the wake of the Juukan Gorge scandal and increased its exposure to the copper and lithium sectors. Stausholm has defended Rio Tinto’s move to ramp up exposure to lithium, arguing that it is very clear that the world needs more lithium.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Forrest-backed Greatland loses $1b on guidance

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Original article by Mark Wembridge
The Australian Financial Review – Page: 17 : 30-Jul-25

Greatland Resources has downgraded its 2025-26 production forecast just one month after listing on the Australian sharemarket. The gold miner had previously expected to produce up to 340,000 ounces of gold in the current financial year, but this will now be within the range of 260,000 to 310,000 ounces. MD Shaun Day has attributed the downgrade to Greatland’s "conservative approach" to guidance. The company’s shares fell 22 per cent to $5.36 on Tuesday, compared with an issue price of $6.60 in the recent IPO. Greatland’s investors include Wyloo, the private company of Andrew and Nicola Forrest.

CORPORATES
GREATLAND RESOURCES LIMITED – ASX GGP, WYLOO METALS PTY LTD

Rio reveals 80-year plan for Pilbara iron ore mines

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Original article by Brad Thompson
The Australian – Page: 13 & 19 : 29-Jul-25

Rio Tinto is seeking environmental approval from the Western Australian government for its East Pilbara Strategic Proposal. Rio Tinto has stated that the EPSP covers potential future developments in the region over the next eight decades, including iron ore mining and renewable energy projects, as well as supporting infrastructure. BHP secured approval for a similar proposal in the Pilbara in 2019, which enabled project approvals to be streamlined. Rio Tinto’s long-term commitment to the Pilbara is in contrast to recent warnings from Fortescue’s founder Andrew Forrest that the region is at risk of becoming a ‘wasteland’

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

Trott faces a tough Rio agenda

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Original article by Brad Thompson
The Australian – Page: 13 & 19 : 16-Jul-25

Rio Tinto veteran Simon Trott will succeed outgoing CEO Jakob Stausholm on 25 August; other internal contenders had included chief commercial officer Bold Baatar and aluminium division boss Jerome Pecresse. Trott has been Rio Tinto’s head of iron ore for four years, and chairman Dominic Barton has praised his contribution to the flagship division; Trott in turn has praised Jakob Stausholm’s leadership and guidance since he replaced Jean-Sebastien Jacques as CEO in 2021. Trott’s immediate challenges in his new role will include Rio Tinto’s big investment in lithium during Stausholm’s tenure and its Oyu Tolgoi copper mine in Mongolia.

CORPORATES
RIO TINTO LIMITED – ASX RIO

MinRes softens on exit of Ellison

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Original article by Brad Thompson
The Australian – Page: 13 & 19 : 9-Jul-25

Mineral Resources’ MD Chris Ellison had been expected to leave the iron ore and lithium miner by April 2026. However, the company has told investors that chairman Malcolm Bundey is reviewing its leadership transition plan, which was put in place in late 2024 after Ellison was embroiled in a tax evasion scandal. MinRes indicated that the review will take into consideration the best interests of shareholders. MinRes is also under scrutiny over its dealings with Kali Metals and a deal to award a contract to a company that has links to Ellison’s daughter.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, KALI METALS LIMITED – ASX KM1

Fortescue pair strike gold with Greatland

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Original article by Brad Thompson
The Australian – Page: 13 & 15 : 2-Jul-25

Greatland Resources’ recent Australian sharemarket float has been a financial boon for chairman Mark Barnaba and deputy chair Elizabeth Gaines. Their stakes in Greatland are estimated to be worth about $10.3m and $5.4m respectively. Barnaba and Gaines are also directors of pure-play iron ore miner Fortescue; Wyloo, the private company of Fortescue’s founder Andrew Forrest, has an 8.2 per cent stake in Greatland, which is now dual-listed on the ASX and London’s AIM sub-market. A third Greatland director, Yasmin Broughton, was appointed to Fortescue’s board yesterday.

CORPORATES
GREATLAND RESOURCES LIMITED – ASX GGP, FORTESCUE LIMITED – ASX FMG, WYLOO METALS PTY LTD

MinRes sells troubled Yilgarn iron ore projects

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Original article by Elouise Fowler
The Australian Financial Review – Page: 19 : 1-Jul-25

Perth-based Yilgarn Iron Investments has secured a deal to buy the mothballed Yilgarn iron ore projects in Western Australia from Mineral Resources. The Yilgarn mines in the state’s Goldfields region were shut down in late 2024, and more than 800 workers were redeployed to the company’s other projects. Mineral Resources has advised that the commercial terms of the deal are ‘confidential and immaterial’. The deal only comprises the Yilgarn hub’s iron ore assets, and Mineral Resources will retain the rights to gold and lithium deposits.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, YILGARN IRON INVESTMENTS PTY LTD

New mine firms up Rio, Rinehart partnership

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

Rio Tinto and Hancock Prospecting will proceed with the the Hope Downs 2 iron ore project in the Pilbara, after it received the final regulatory approvals from the federal and Western Australian governments earlier in June. The project is part of the broader Hope Downs joint venture between Rio Tinto and the Gina Rinehart-controllled Hancock Prospecting. The two companies will split the cost of developing the new mine, which comprises the Hope Downs 2 and Bedded Hilltop deposits; annual production of about 31 million tonnes is scheduled to begin in 2027.

CORPORATES
RIO TINTO LIMITED – ASX RIO, HANCOCK PROSPECTING PTY LTD