B08 Metal Ore Mining

Twiggy’s hydrogen kickstart

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Original article by Mark Ludlow
The Australian Financial Review – Page: 5 : 23-Nov-18

Fortescue Metals Group chairman Andrew Forrest says the iron ore miner is keen to be involved in the development of hydrogen as a low-emissions fuel. Fortescue and the CSIRO have signed a $20 million agreement to develop and commercialise CSIRO technology that extracts pure hydrogen from ammonia. Mercedes-Benz, Honda, Hyundai and Toyota are all developing hydrogen-powered cars. Forrest has described hydrogen fuel as an "energy revolution".

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, CSIRO, MERCEDES-BENZ AG, HONDA MOTOR CORPORATION, HYUNDAI MOTOR COMPANY LIMITED, TOYOTA MOTOR CORPORATION, TESLA INCORPORATED

BHP weighs options in pursuit of growth

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Original article by Paul Garvey
The Australian – Page: 20 : 22-Nov-18

BHP’s CFO Peter Beaven has told investors that the resources group has made changes to its capital allocation policy over the last five years, after several ill-fated investments. He added that BHP is ready to start investing again and stressed the need to ensure a balance between over-investing and under-investing, as both can destroy shareholder value. Beaven also indicated that BHP is looking at a number of growth options for its existing portfolio.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, AUSTRALIAN TAXATION OFFICE

BHP acts on Singapore loophole

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Original article by Paul Garvey
The Australian – Page: 21 : 21-Nov-18

The case for abolishing BHP’s dual-listed structure has strengthened after the resources group agreed to transfer full ownership of its Singapore trading hub to its Australian division. BHP will do so as part of a settlement with the Australian Taxation Office regarding the payment of back taxes associated with the trading hub. The settlement is likely to significantly reduce the cost to BHP of reverting to a single primary listing on the Australian sharemarket.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, AUSTRALIAN TAXATION OFFICE, RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, SHAW AND PARTNERS LIMITED, ELLIOTT MANAGEMENT CORPORATION, TAX JUSTICE NETWORK

Rio find could spark a copper rush

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Original article by Paul Garvey
The Australian – Page: 18 : 19-Nov-18

The mining sector’s interest in the Paterson Range region of Western Australia has increased in the wake of speculation of a major copper find by Rio Tinto. Although Rio Tinto has yet to comment, it has established a mining camp in the region and taken up a number of exploration leases. WA Mines Minister Bill Johnston says he has had no talks with Rio Tinto with regard to its presence in the Paterson Range. Fortescue Metals Group, Metalicity and Carawine Resources are among the companies to have acquired mining leases in the region in the wake of the Rio Tinto speculation.

CORPORATES
RIO TINTO LIMITED – ASX RIO, WESTERN AUSTRALIA. DEPT OF MINES, INDUSTRY REGULATION AND SAFETY, FORTESCUE METALS GROUP LIMITED – ASX FMG, METALICITY LIMTED – ASX MCT, CARAWINE RESOURCES LIMITED – ASX CWX, INDEPENDENCE GROUP NL – ASX IGO, ENCOUNTER RESOURCES LIMITED – ASX ENR, ASSOCIATION OF MINING AND EXPLORATION COMPANIES, SOLGOLD PLC, BHP BILLITON LIMITED – ASX BHP, NEWCREST MINING LIMITED – ASX NCM, WEST WITS MINING LIMITED – ASX WWI

Forrest says Fortescue will embrace new energy, AI

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Original article by Peter Ker
The Australian Financial Review – Page: 22 : 16-Nov-18

Fortescue Metals Group chairman Andrew Forrest says the pure-play iron ore miner views thermal coal as a 20th century energy source and it will only invest in "new energy". Forrest adds that Fortescue is also committed to investing in automation and artificial intelligence, and says such technology should be embraced rather than feared. Fortescue is deploying automated haulage trucks at its iron ore mines in the Pilbara. A decision on a proposed expansion of its Iron Bridge magnetite concentrate joint venture is expected by the end of 2018.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, CHINA BAOWU STEEL GROUP CORPORATION LIMITED, FORMOSA PLASTICS CORPORATION

Consolidation frenzy grips gold industry

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Original article by Brad Thompson
The Australian Financial Review – Page: 19 : 15-Nov-18

Further consolidation among Australian gold producers is expected following Silver Lake Resources’ deal to acquire Doray Minerals. Other activity in the sector includes Ramelius Resources’ bid for Explaurum and Northern Star Resources’ offer to buy out its partners in the East Kundana project. Meanwhile, Newcrest Mining CEO Sandeep Biswas says the company would be open to selling the Telfer gold mine at the right price.

CORPORATES
SILVER LAKE RESOURCES LIMITED – ASX SLR, DORAY MINERALS LIMITED – ASX DRM, RAMELIUS RESOURCES LIMITED – ASX RMS, EXPLAURUM LIMITED – ASX EXU, NORTHERN STAR RESOURCES LIMITED – ASX NST, NEWCREST MINING LIMITED – ASX NCM, TRIBUNE RESOURCES LIMITED – ASX TBR, RAND MINING LIMITED – ASX RND, AUSTRALIA. TAKEOVERS PANEL

Mystery still shrouds BHP derailment

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Original article by Brad Thompson
The Australian Financial Review – Page: 18 : 13-Nov-18

BHP Billiton has resumed rail operations in Western Australia’s Pilbara region after it was forced to detail an iron ore train on 5 November. The cause of the incident is still being investigated, but sources within BHP have suggested that the problem may have been linked to maintenance issues. Meanwhile, heavy rain and flash flooding is believed to have contributed to the derailing of an empty iron ore train that was returning to Mineral Resources’ Koolyanobbing mine on 11 November. The company does not expect the incident to affect the mine’s output.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, MINERAL RESOURCES LIMITED – ASX MIN, BROOKFIELD ASSET MANAGEMENT INCORPORATED, ARC INFRASTRUCTURE

Rio still upbeat on Chinese demand

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Original article by Perry Williams
The Australian – Page: 20 : 13-Nov-18

Rio Tinto CEO Jean-Sebastien Jacques says the Chinese steel industry’s demand for higher-grade iron ore remains strong in the wake of production capacity cutbacks and measures aimed at reducing air pollution. He has also told the UBS Australasia conference in Sydney that structural changes in the aluminium sector will take longer to have an impact

CORPORATES
RIO TINTO LIMITED – ASX RIO, UBS HOLDINGS PTY LTD

Job risk from $100bn mine rehab charge

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Original article by Perry Williams
The Australian – Page: 17 & 20 : 12-Nov-18

Modelling by EY suggests that mining rehabilitation laws that have been proposed by Queensland’s Treasurer Jackie Trad could lead to the closure of 16 mines and have a $100 billion impact on the state’s mining sector. The Queensland division of the CFMMEU and the Queensland Resources Council have jointly called on the state government to split its proposed legislation and enter into further negotiations over disputed aspects of the bill.

CORPORATES
QUEENSLAND. TREASURY, ERNST AND YOUNG, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, QUEENSLAND RESOURCES COUNCIL LIMITED, BHP BILLITON LIMITED – ASX BHP, ANGLO AMERICAN AUSTRALIA LIMITED, PEABODY RESOURCES LIMITED, GLENCORE AUSTRALIA PTY LTD

BHP expects to resume iron ore exports in mid-November after WA derailment

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Original article by Peter Ker, Simon Evans
The Australian Financial Review – Page: Online : 9-Nov-18

BHP CEO Andrew Mackenzie told its AGM on 8 November that he expected its iron ore exports from Western Australia to resume in mid-November. Deliveries from its mines to Port Hedland have been halted after BHP was forced to deliberately derail an iron ore train that had departed without any driver. Mackenzie said it was too early to determine the financial impact of the incident. BHP chairman Ken MacKenzie told shareholders it had no plans to sell either its Mount Arthur thermal coal mine in New South Wales or its Olympic Dam copper mine in South Australia.

CORPORATES
BHP BILLITON LIMITED – ASX BHP