B08 Metal Ore Mining

Gold beats coal as iron ore drives export record

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Original article by Nick Evans
The Australian – Page: 13 & 18 : 19-Dec-19

The Department of Industry, Innovation & Science now expects Australia’s resources exports to top $281bn in 2019-20. This is $4bn lower than was forecast in June, although it will still be a new record. Resources exports are forecast to fall to around $256bn in 2020-21, due to factors such as an expected fall in the iron ore price and the resumption of shipments from Brazil. This will see Australia’s iron ore exports fall to $65.5bn in 2020-21, compared with expectations of $84bn in the current financial year. Gold exports are tipped to reach a new high of $27.8bn in 2019-20, before falling to $25.9bn in 2020-21.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Haoma Mining – Chairman’s address to shareholders, by Gary Morgan, Wednesday December 18, 2019

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Original article by
Haoma Mining NL Announcements – Page: Online : 19-Dec-19

Yesterday at Haoma Mining’s AGM, Chairman Gary Morgan presented information on Haoma’s activities, including recent Test Work at Bamboo Creek. Included in the information was the report that over the last 7 days a Vat Leach Trial at Bamboo Creek processed a sample of 1.425 tonnes of course (+180 microns to -3mm) Kitchener Low Grade Ore using the Elazac Leach Process. The ‘calculated’ gold grade (based on the Elazac Assay Method) was 37.39 g/t gold. Shareholders were reminded that the Bamboo Creek Vat contains 28,000 tonnes of crushed course Kitchener Low Grade ore and leaching should be operating early next year.

CORPORATES
HAOMA MINING NL

Northern Star shines in $1.2bn Super Pit

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Original article by Nick Evans
The Australian – Page: 13 & 16 : 18-Dec-19

Northern Star Resources will finance the acquisition of Newmont Goldcorp’s 50 per cent stake in Kalgoorlie’s Super Pit gold mine via a $765m share placement, a $50m share purchase plan and a $480m debt facility. Executive chairman Bill Beament says Northern Star hopes to bring forward an underground expansion of the mine, subject to approval from new joint venture partner Saracen Mineral Holdings. The latter recently acquired Barrick Gold’s stake in the Super Pit.

CORPORATES
NORTHERN STAR RESOURCES LIMITED – ASX NST, NEWMONT GOLDCORP CORPORATION, SARACEN MINERAL HOLDINGS LIMITED – ASX SAR, BARRICK GOLD CORPORATION

Cyber squatters nab South32, poke their tongue at BHP

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Original article by Paul Smith
The Australian Financial Review – Page: 3 : 10-Dec-14

BHP Billiton has ruled out buying the South32.com domain name, which is owned by a company based in Malibu. It is believed to have demanded $A10m to surrender the name. BHP recently revealed South32 as the name of the spin-off that will hold its non-core assets, and says it was not willing to pay the price being sought by the domain name’s owner. Experts say BHP should have ensured that it owned the .com domain as well as related domain names

CORPORATES
BHP BILLITON LIMITED – ASX BHP, .AU DOMAIN ADMINISTRATION LIMITED, FABULOUS DOMAINS, DARK BLUE SEA LIMITED, KARI BIAN FILM COMPANY, SOUTH32 LIMITED, NTEGRITY PTY LTD

Rio cool on Albanese solar smelter talk

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Original article by Brad Thompson
The Australian Financial Review – Page: 21 : 16-Dec-19

Rio Tinto has indicated that it is considering all options to ensure the viability of its aluminium smelters in Australia and New Zealand, amid growing concern that they may be closed. However, the resources giant has downplayed suggestions that it may seek to switch the carbon-intensive smelters from coal to solar energy. Labor leader Anthony Albanese recently visited the Boyne smelter in Queensland, and said he had been told that Rio was looking at transitioning the plant to renewables.

CORPORATES
RIO TINTO LIMITED – ASX RIO, AUSTRALIAN LABOR PARTY

China appetite for ore strong, says Fortescue

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Original article by Brad Thompson
The Australian Financial Review – Page: 21 : 16-Dec-19

Fortescue Metals Group CEO Elizabeth Gaines is upbeat about the outlook for the iron ore price in 2020. She says the benchmark price will continue to benefit from inventory restocking ahead of the Chinese New Year, while she does not expect the price gap between benchmark iron ore and the lower-grade ore produced by Fortescue to widen much. Fortescue received 89 per cent of the benchmark price during the September 2019 quarter, after the gap had widened significantly in mid-2018.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG

Andrew Forrest’s $500m payday as iron ore rallies

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Original article by Julie-anne Sprague
The Australian Financial Review – Page: 29 : 12-Dec-19

Shares in Fortescue Metals Group closed $0.14 higher at $10.38 on 11 December, after peaking at a record $10.45. The pure-play iron ore miner’s shares have gained nearly 150 per cent in the year to date; the rally has seen the stake of founder Andrew Forrest rise to around $11.3bn, with the iron ore price trading at around $US93 per tonne. BHP’s share price is currently trading at its highest level since August, while Rio Tinto is trading at a four-month high.

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

Forrest locks horns with WA government over native title court fight

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Original article by Brad Thompson
The Australian Financial Review – Page: 20 : 11-Dec-19

Fortescue Metals Group is seeking special leave to appeal against a Federal Court ruling with regard to its Solomon iron ore mining hub in the Pilbara. Western Australia’s State Solicitors Office wants the High Court to dismiss Fortescue’s application, arguing that there are major flaws in its case. The Federal Court dismissed Fortescue’s appeal against a 2017 ruling in early October, effectively stating that it had constructed the mining hub without the consent of traditional land owners.

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

Rio Tinto’s hold on Oyu Tolgoi deal firms with Mongolian court win

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Original article by Peter Ker
The Australian Financial Review – Page: 21 : 9-Dec-19

Rio Tinto and the Mongolian government entered into an agreement in 2015 regarding a $US5.3 billion expansion of the Oyu Tolgoi mine. The Mongolian First Administrative Court upheld a claim in November that proper parliamentary process may not have been followed when striking the agreement. However, a statement issued on the Court’s official website on 5 December indicated that the ruling is not likely to impact on the 2015 agreement.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Rio wears cash drain to bet on copper

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Original article by Peter Ker
The Australian Financial Review – Page: 19 : 5-Dec-19

Rio Tinto will extend the life of its Kennecott copper mine in the US until at least 2032 after unveiling plans to spend $US1.5bn on a new pit wall cutback. Rio Tinto is also widely tipped to spend some $US1.5bn on the expansion of its Oyu Tolgoi copper mine in Mongolia in 2020. The capital investment programs have raised doubts as to whether Rio Tinto’s copper and diamonds division will generate free cash flow in 2020. Copper and diamonds have accounted for the bulk of its expenditure on exploration in 2019.

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