B08 Metal Ore Mining

Dane to replace Lynch at Rio Tinto

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Original article by Matt Chambers
The Australian – Page: 24 : 13-Jun-18

Rio Tinto has advised that CFO Chris Lynch will step down in September, after four years in the role. He will be succeeded by Jakob Stausholm, who has previously held executive roles at companies such as Shell and AP Moller-Maersk. Stausholm was also Shell’s representative on Woodside Petroleum’s board for several years. Rio Tinto CEO Jean-Sebastien Jacques has praised the contribution of Lynch, who had flagged his intention to retire in September 2017.

CORPORATES
RIO TINTO LIMITED – ASX RIO, ROYAL DUTCH SHELL PLC, AP MOLLER-MAERSK AS, WOODSIDE PETROLEUM LIMITED – ASX WPL, ISS A/S, UNITED STATES. SECURITIES AND EXCHANGE COMMISSION

Rio revs up driverless truck plan

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Original article by Matt Chambers, Cliona O’Dowd
The Australian – Page: 19 & 22 : 8-Jun-18

Rio Tinto employs about 12,000 people at its iron ore operations in the Pilbara, and its automation program is not expected to have any net effect on job numbers. An internal briefing from late 2016 flagged the loss of about 850 jobs over four years as a result of initiatives such as its AutoHaul project. However, Rio Tinto has advised that the figures have since been revised to take into account the retraining and redeployment of existing staff and the need to hire additional employees for new mining projects.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, OZ MINERALS LIMITED – ASX OZL, THE MELBOURNE MINING CLUB, ALPHABETA, NATIONAL ENERGY RESOURCES AUSTRALIA, METS IGNITED

Fortescue derails MinRes bid for Atlas

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Original article by Paul Garvey
The Australian – Page: 19 & 22 : 8-Jun-18

Fortescue Metals Group has paid $A0.04 per share for a 15 per cent stake in Atlas Iron. The pure-play iron ore miner also has an economic interest in about 4.9 per cent of Atlas’s shares via a cash-settled swap, effectively giving it a stake of 19.9 per cent. CEO Elizabeth Gaines has also advised that Fortescue will not support the proposed scheme of arrangement between Atlas and suitor Mineral Resources at present, although it remains open to doing so. Atlas shares closed 12 per cent lower at $A0.028 on 7 June. Haoma Mining sold its iron ore rights at the Mt Webber Dalton deposit to Atlas in April 2012.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, ATLAS IRON LIMITED – ASX AGO, MINERAL RESOURCES LIMITED – ASX MIN, ARGONAUT SECURITIES PTY LTD, FOSTER STOCKBROKING PTY LTD, AWE LIMITED, MITSUI AND COMPANY LIMITED, HAOMA MINING NL

Iron ore miners bend to China’s will

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Original article by Rhiannon Hoyle
The Australian – Page: 22 : 6-Jun-18

Global iron ore producers are responding to growing demand for higher-grade iron ore in China by shifting production away from low-grade ore. They include Fortescue Metals Group, Vale and Cleveland-Cliffs. Fortescue recently announced plans to develop the Eliwana mine in Western Australia, with its output to be blended with lower-grade ore from the company’s other mines in the Pilbara. BHP also intends to blend ore from its proposed South Flank project with lower-grade ore.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, VALE SA, CLEVELAND-CLIFFS INCORPORATED, RIO TINTO LIMITED – ASX RIO

Mining capex slow to move on big profits

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 5-Jun-18

The mining and construction sectors were a major contributor to the 5.9 per cent growth in the profits of Australian companies during the March quarter. However, data from PwC shows that the capital expenditure of the world’s 40 largest mining companies remains at its lowest level for a decade. Chris Dodd of PwC expects miners to continue to be cautious with regard to capital investment. Glencore CEO Ivan Glasenberg recently expressed a similar view.

CORPORATES
PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, GLENCORE PLC, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, AUSTRALIAN BUREAU OF STATISTICS

Junior miners lead surge in mergers

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Original article by Paul Garvey
The Australian – Page: 17 & 18 : 4-Jun-18

Australian-listed mining companies have been involved in nearly $US12 billion ($A15.8 billion) worth of mergers and acquisitions since the start of 2017-18, the highest level of activity since the 2012 financial year, when the mining boom was at its peak. Most deals involve small and medium-sized mining firms, with Eddie Rigg of advisory firm Argonaut saying it "has never been busier". He says some smaller firms are taking the view that the best way to "realise value" is to be acquired, rather than trying to develop deposits themselves.

CORPORATES
ARGONAUT SECURITIES PTY LTD, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, CITIGROUP PTY LTD, LION SELECTION GROUP LIMITED – ASX LSX, SOJITZ CORPORATION

Haoma establishes share trading hub Ecosystem with PrimaryMarkets for secondary trading of Haoma Mining Shares

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Original article by Roy Morgan
Haoma Mining NL Announcements – Page: Online : 29-May-18

Since being unnecessarily delisted by the ASX in February, Haoma has worked to identify a suitable and cost-effective platform for easy trading of Haoma’s shares and can now advise that this has been achieved with the appointment of PrimaryMarkets to establish on their platform a Haoma Mining NL private share trading hub known as the ‘EcoSystem’. Existing Haoma shareholders or prospective shareholders wishing to sell or purchase shares in Haoma Mining will be able to register buy and sell offers within the Ecosystem. Sell and buy offers will be transacted and settled in accordance with the Haoma share trading rules as published on the Ecosystem. The Ecosystem will open on Wednesday June 6, 2018. Further details on the benefits of using the Ecosystem are available at this PDF link.

CORPORATES
HAOMA MINING NL, PRIMARYMARKETS

Fortescue keeps focus on low costs as it approves new mine

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Original article by Matt Chambers
The Australian – Page: 28 : 29-May-18

Fortescue Metals Group will be able to supply higher-grade iron ore after its board approved the development of the Eliwana mine in the Pilbara. The $A1.7bn project, which also includes a rail component and a processing plant, will enable Fortescue to produce ore with 60 per cent iron content, compared with an average of 58 per cent at present. Eliwana will replace the Firetail mine, which is approaching the end of its mine life. Production at Eliwana is slated to commence in 2020, with annual output of about 30 million tonnes.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, RBC CAPITAL MARKETS

Australia’s iron ore age nears peak

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Original article by Peter Ker
The Australian Financial Review – Page: 10 : 28-May-18

Australia now accounts for about 62 per cent of all iron ore shipments to China, compared with 43 per cent in 2010. He Ming of Wood Mackenzie forecasts that Australia’s iron ore exports to China will peak at 895 million tonnes in 2020 and 2021, before holding steady at around 884 million tonnes beyond 2023. Tony Robson of Global Mining Research expects Chinese steel mills’ demand for Australian iron ore to fall in coming years, as annual steel production peaks. Factors such as increased iron ore production in Brazil are also expected to weigh on Australian producers.

CORPORATES
WOOD MACKENZIE, GLOBAL MINING RESEARCH PTY LTD, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, ROY HILL HOLDINGS PTY LTD, VALE SA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, UBS HOLDINGS PTY LTD

Rio warns Oyu Tolgoi a test case for investment in Mongolia

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 23-May-18

Rio Tinto executive Arnaud Soirat says the Mongolian Government must not seek changes to the 2009 investment agreement regarding the Oyu Tolgoi mine. He says the international business community will view the $US5.3bn expansion of the copper and gold mine as a "test case" for future investment in Mongolia. The nation’s deputy mining minister, Zagdjav Deleg, stated in March that the government could potentially move to full ownership of the mine if the investment agreement was found to have been secured as a result of corruption.

CORPORATES
RIO TINTO LIMITED – ASX RIO, OYU TOLGOI LLC, MONGOLIA. MINISTRY OF MINERAL RESOURCES AND ENERGY, TURQUOISE HILL RESOURCES LIMITED