IRON MINES AND MINING – CANADA

Rio puts Canada IPO plan on hold

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Original article by Rhiannon Hoyle
The Australian – Page: 20 : 1-Oct-19

Mining giant Rio Tinto has advised that it is longer seeking to divest its controlling stake in Iron Ore Co of Canada via a trade sale or IPO. The recent volatility in the price of iron ore has affected the potential sale price of the business, in which Rio Tinto has a 59 per cent stake. Rio Tinto first flagged plans to sell the Canadian business in 2013, and CEO Jean-Sebastien Jacques indicated in 2017 that the resources giant would not hold a "fire sale" of unwanted assets.

CORPORATES
RIO TINTO LIMITED – ASX RIO, IRON ORE COMPANY OF CANADA, MITSUBISHI CORPORATION, LABRADOR IRON ORE ROYALTY INCOME CORPORATION

Bargain buy of Canadian iron mine pays off for O’Keefe

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Original article by Paul Garvey
The Australian Financial Review – Page: 20 : 7-Dec-17

Australian-listed Champion Iron aims to commence iron ore shipments from the Bloom Lake project in Canada in March 2018, having paid less than $US10m for it in 2016. Previous owner Cliffs had invested some $US2.4bn in the project, which it had acquired as part of its $US5bn purchase of Consolidated Thompson in 2011. Champion Iron is headed by Michael O’Keefe, who estimates that Bloom Lake’s higher-grade iron ore to fetch about $US80 per tonne at current prices. He is the former head of Riversdale Mining, which was acquired by Rio Tinto in 2011.

CORPORATES
CHAMPION IRON LIMITED – ASX CIA, CLIFFS NATURAL RESOURCES INCORPORATED, RIVERSDALE MINING LIMITED, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG

O’Keefe ready to ride iron ore’s upswing

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Original article by Brian Robins
The Sydney Morning Herald – Page: 23 : 13-Jun-16

Champion Iron chairman Michael O’Keefe hopes the iron ore group can replicate the success he had at coal producer Riversdale Mining, which Rio Tinto bought for $A4bn during the resources boom. Champion Iron was created via the merger of Australian-listed Mamba Minerals and Canada’s Champion Mines. The group paid $C10.5m for the Bloom Lake iron ore project, which boasts 66 per cent iron. In contrast, most Australian iron ore has an iron content of 62 per cent or less. O’Keefe has targeted late 2017 for the first shipment from Bloom Lake.

CORPORATES
CHAMPION IRON LIMITED – ASX CIA, RIO TINTO LIMITED – ASX RIO, RIVERSDALE MINING LIMITED, CLIFFS NATURAL RESOURCES INCORPORATED, IRON ORE COMPANY OF CANADA

Rio eases off its iron ore expansion

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Original article by Matt Chambers
The Australian – Page: 18 : 20-Jan-16

Rio Tinto expects to produce 350 million tonnes of iron ore in Western Australia and Canada in 2016, which is slightly below market forecasts of 355 million tonnes. Total production was 327 million tonnes in 2015, with the Pilbara region accounting for 310 million tonnes. However, Rio had initially flagged Pilbara output of 330 million tonnes. The latest guidance suggests that Rio Tinto may not achieve its Pilbara production target of 335 million tonnes in 2016.

CORPORATES
RIO TINTO LIMITED – ASX RIO, MACQUARIE GROUP LIMITED – ASX MQG, UBS HOLDINGS PTY LTD, BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, CITIGROUP PTY LTD, IRON ORE COMPANY OF CANADA, DEUTSCHE BANK AG