B08 Metal Ore Mining

Critical minerals bonanza might be hidden in waste

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Original article by Mark Wembridge
The Australian Financial Review – Page: 20 : 14-May-25

The Mine Reuse Project has been launched by the Geological Survey of NSW, Geoscience Australia and the University of Queensland. The project is analysing the waste deposits of current and defunct mines in NSW to determine if they contain critical minerals that had previously been overlooked. Analysis of 1,200 samples of mine waste has found elevated concentrations of 11 critical minerals and metals across 28 current and abandoned mines. The project could potentially lead to the reopening of mines across NSW, and provide a new source of the minerals that are crucial to the energy transition and whose global supply is dominated by China at present.

CORPORATES
GEOLOGICAL SURVEY OF NEW SOUTH WALES, GEOSCIENCE AUSTRALIA, UNIVERSITY OF QUEENSLAND

Rio Tinto’s declining iron ore blend to hit revenues

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Original article by Peter Ker
The Australian Financial Review – Page: 14 : 14-May-25

Rio Tinto has advised Asian steel mills that the iron content in each tonne of its flagship ‘Pilbara Blend Fines’ product will be permanently reduced from 61.6 per cent to 60.8 per cent. The change is scheduled to take effect in the September quarter, and reflects a decline in the quality of Rio Tinto’s iron ore. The downgrade will affect the company’s earnings, while independent economist Saul Eslake says it is also likely to have an impact on the federal and Western Australian governments’ budgets. Rio Tinto has also indicated that its Pilbara Blend Fines will also have higher levels of impurities.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Rio: D-day looms for Tassie smelter

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 29-Apr-25

The future of Rio Tinto’s aluminium smelter in Tasmania is under renewed scrutiny, with the plant’s electricity supply deal set to expire at the end of 2025. Rio Tinto has warned that the Bell Bay smelter could potentially be closed if the company fails to negotiate a new supply deal with the state-owned Hydro Tasmania; the smelter directly employs about 500 people. The future of Rio Tinto’s Tomago aluminium smelter in NSW is also uncertain, with its power supply deal scheduled to expire in 2028.

CORPORATES
RIO TINTO LIMITED – ASX RIO, HYDRO TASMANIA

MinRes losses last person on board ethics committee

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Original article by Mark Wembridge
The Australian Financial Review – Page: 27 : 24-Apr-25

Iron ore and lithium producer Mineral Resources is under futher scrutiny after the resignation of a third independent director in the last week. Denise McComish has stepped down from the board with immediate effect, following the recent departure of Jacqueline McGill and Susie Corlett. The three women had solely comprised Mineral Resources’ ethics and governance committee, which had been established in late 2024 in response to a series of scandals involving MD Chris Ellison. The debt-laden company will also shortly have to appoint a successor to outgoing chairman James McClements.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN

Rio Tinto flags $150m storm hit to iron ore exports

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Original article by Peter Ker
The Australian Financial Review – Page: 27 : 17-Apr-25

Rio Tinto shipped just 70.7 million tonnes of iron ore from the Pilbara during the March quarter, which is 17 per cent lower than the last three months of 2024. Production was affected by four cyclones during the period, putting Rio Tinto about 13 million tonnes behind schedule on achieving its full-year target of shipping between 323 million and 338 million tonnes. Rio Tinto expects to incur mitigation costs of about $150m as it seeks to reach the lower end of its guidance. Meanwhile, the Pilbara Ports Authority has advised that 133.62 million tonnes of iron ore was shipped through Port Hedland during the March quarter, an increase of 1.3 per cent year-on-year; Port Hedland is used by BHP, Fortescue and Hancock Prospecting.

CORPORATES
RIO TINTO LIMITED – ASX RIO, PILBARA PORT AUTHORITY, BHP GROUP LIMITED – ASX BHP, FORTESCUE LIMITED – ASX FMG, HANCOCK PROSPECTING PTY LTD

Fortescue racks up $350m drill bill in net zero emissions push

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

Pure-play iron ore miner Fortescue expects the deployment of electric drill rigs at its Pilbara mines to reduce diesel fuel usage by about 35 million litres per year and carbon dioxide emissions by more than 90,000 tonnes. Fortescue will pay about $350m for 50 electric drill rigs that are manufactured by Sweden-based Epiroc. Fortescue has also commenced construction of a 190-megawatt solar farm at its Cloudbreak mine, as part of its strategy to achieve a net-zero emissions target of 2030. The Cloudbank solar farm will boast almost double the capacity of Fortescue’s only existing solar farm.

CORPORATES
FORTESCUE LIMITED – ASX FMG

De Grey takeover looms as gold soars

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Original article by Brad Thompson
The Australian – Page: 16 : 15-Apr-25

Northern Star Resources’ shares reached a record high of $21.49 on Monday after a key shareholder of takeover target De Grey Mining backed the deal. Gold Road Resources advised that it will vote in favour of Northern Star’s bid at a meeting of De Grey shareholders on Wednesday; Gold Road has a 17.3 per cent stake in De Grey. Northern Star’s all-scrip bid was worth $5bn when it was launched in late 2024, but a surge in the price of gold and gold stocks has seen the value of the offer rise to $6.1bn. Gold Road Resource recently rejected a takeover approach from South Africa-based Gold Fields, which is its partner in the Gruyere gold mine.

CORPORATES
NORTHERN STAR RESOURCES LIMITED – ASX NST, DE GREY MINING LIMITED – ASX DEG, GOLD ROAD RESOURCES LIMITED – ASX GOR, GOLD FIELDS LIMITED

Barnett: secret Chevron deal never meant to cover iron ore

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Original article by Brad Thompson
The Australian – Page: 13 & 16 : 15-Apr-25

US energy giant Chevron could potentially gain up to $1bn from an infrastructure levy via a confidential deal with the Western Australian government. Mineral Resources is challenging a decision to impose the levy for exporting iron ore via the Chevron-built Port of Ashburton and a shipping channel that was dredged as part of its Wheatstone LNG project. Chevron subsequently transferred ownership of the port and shipping channel to the government, but retained the right to receive a levy for their use. Former WA premier Colin Barnett says Chevron is entitled to such revenue, but he contends that the figures being mooted are excessive because nobody had expected iron ore to be shipped from Ashburton.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, CHEVRON CORPORATION

Nuclear power ‘not cool’, declares Forrest, as iron ore threat looms

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Original article by Brad Thompson
The Australian – Page: 15 : 11-Apr-25

Mining magnate and philanthropist Andrew Forrest has told a business breakfast in Perth that nuclear power is not the best energy option for Australia. Amongst other things, he questioned why taxpayers should fund nuclear power stations via the Coalition’s plans if the private sector is not willing to take on the "massive risk". The founder of Fortescue also warned that Australia’s iron ore industry is facing challenges such as the low grade and high impurities of Pilbara iron ore, as well as imminent competition from the higher-grade ore that will soon be produced in Africa.

CORPORATES
FORTESCUE LIMITED – ASX FMG

New mine boosting BHP’s iron ore strategy

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Original article by Dylan Brown
Australian Resources and Investment – Page: Online : 9-Apr-25

BHP CEO Mike Henry recently advised shareholders that production at its South Flank iron ore mine in Western Australia has been ramped up since the resources group decided to proceed with in 2017. He said South Flank has reached full production, adding that the project has allowed BHP to increase its average iron ore content and secure higher prices for its ore. BHP aims to increase production in the Pilbara to 305 million tonnes a year in the medium-term, and Henry said the company is assessing its options to lift output to around 330 million tonnes per year.

CORPORATES
BHP GROUP LIMITED – ASX BHP