B08 Metal Ore Mining

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

Gold and iron ore prices set to drop, Citi warns

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Original article by David Rogers
The Australian – Page: 19 : 18-Jun-25

US investment bank Citi is bearish about the price of both gold and iron ore. The gold price has risen by about 30 per cent so far in 2025, and peaked at a record $US3,500 an ounce in April. However, Citi has forecast that it will fall around $US2,5000 to $US2,700 an ounce by the end of 2026, due to factors such as lower investment demand, an improving outlook for the global economy and US interest rate cuts. The iron ore price in turn has shed about five per cent in the year-to-date, and is currently trading at around $US93 per tonne; Citi expects it to fall to around $US90 per tonne over the medium-term.

CORPORATES
CITIGROUP INCORPORATED

BHP-Rio US copper mine clears environment hurdle

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Original article by Jessica Gardner
The Australian Financial Review – Page: 18 : 18-Jun-25

The US Department of Agriculture has granted environmental approval for the Resolution Copper project in Arizona. The publication of the final environmental impact statement for the underground copper mine will allow the transfer of federal land to occur, which is the next step in the long-running battle to develop the Resolution deposit. Joint venture partners BHP and Rio Tinto have yet to make a final investment decision on the project, which has faced strong opposition from environmentalists and Indigenous groups.

CORPORATES
BHP GROUP LIMITED – ASX BHP. RIO TINTO LIMITED – ASX RIO. UNITED STATES. DEPT OF AGRICULTURE

MinRes slices into iron ore guidance

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Original article by Brad Thompson
The Australian – Page: 14 : 28-May-25

Mineral Resources has advised that its Onslow Iron project has shipped 1.7 million tonnes of iron ore so far in May, and shipments for the full month are expected to total 1.9 million tonnes. This compares with 1.3 million tonnes in April, while the company expects shipments for June to be within the range of 2.3 million to 2.6 million tonnes. However, Mineral Resources has indicated that the Onslow Iron project’s full-year output for 2024-25 is now expected to be within the range of 7.8 to 8 million tonnes, compared with previous guidance of 8.5 million to 8.7 million tonnes.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN