B08 Metal Ore Mining

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

BHP train wreck hits contracts

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Original article by Brad Thompson
The Australian Financial Review – Page: 17 & 22 : 8-Nov-18

BHP Billiton hopes to partially resume rail operations in the Pilbara in the next week, after it was forced to deliberately derail a train that was carrying iron ore to Port Hedland. BHP is using its iron ore stockpiles at Portland to meet its contractual obligations, but the resources giant has conceded that they will be exhausted before rail shipments resume. Glyn Lawcock of UBS says the benchmark price of iron ore could rally, depending on the length of BHP’s supply disruption.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, AUSTRALIAN TRANSPORT SAFETY BUREAU, AUSTRALIA. OFFICE OF THE NATIONAL RAIL SAFETY REGULATOR

China’s steel mills thriving

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Original article by Glenda Korporaal
The Australian – Page: 20 : 8-Nov-18

Fortescue Metals Group Elizabeth Gaines says the trade war with the US has not affected China’s steel production, which was higher than expected in September. Gaines adds that China’s infrastructure investment program has been a key driver of the high level of steel production, which in turn has prompted a rally in the iron ore price. Fortescue has signed memorandums of understanding with eight public and private steel mills at the China import expo in Shanghai.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BAOWU STEEL GROUP, HEBEI WENFENG IRON AND STEEL COMPANY LIMITED

BHP derails 268-car Pilbara iron ore train which travelled 92km without driver

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Original article by Peter Milne
The West Australian – Page: Online : 6-Nov-18

The Australian Transport Safety Bureau will investigate an incident on 5 November in which BHP Billiton lost control of a train carrying iron ore from Newman to Port Hedland. The train travelled for 92km without anyone on board after the driver alighted to inspect a wagon. BHP was forced to deliberately derail the train about 120 km from Port Hedland. The company has suspended all of its train operations in the Pilbara pending the outcome of the investigation.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, AUSTRALIAN TRANSPORT SAFETY BUREAU

Rinehart claims she sits top of nation’s tax table

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Original article by Brad Thompson
The Australian Financial Review – Page: 19 : 2-Nov-18

The annual report of Gina Rinehart’s Hancock Prospecting shows that its profit rose by 28 per cent to $1.37m in 2017-18, with revenue from its Roy Hill iron ore project rising from $4.45bn to more than $6bn. Hancock paid $860 million in federal and state taxes during 2017-18, compared with $698m in the previous financial year, and it has paid $5 billion in taxes over the last eight years. Rinehart has issued a statement claiming that she pays more tax than any other Australian.

CORPORATES
HANCOCK PROSPECTING PTY LTD, ATLAS IRON LIMITED – ASX AGO, FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIAN OUTBACK BEEF, S KIDMAN AND COMPANY PTY LTD, SIRIUS MINERALS PLC, RIVERSDALE RESOURCES LIMITED, RIO TINTO LIMITED – ASX RIO, WRIGHT PROSPECTING PTY LTD, SUPREME COURT OF WESTERN AUSTRALIA, FEDERAL COURT OF AUSTRALIA