IRON MINES AND MINING – WESTERN AUSTRALIA

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

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

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

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

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

Fortescue up after Forrest buys shares

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Original article by Peter Ker
The Australian Financial Review – Page: 19 : 2-Nov-18

Fortescue Metals Group chairman Andrew Forrest has increased his stake in the pure-play iron ore miner from 32.46 per cent to 33.87 per cent after buying 3.95 million shares in late October. Fortescue’s shares closed at a 10-week high of $4.11 on 1 November, and the stock has gained 13 per cent since Forrest’s on-market share transaction. Fortescue has also repurchased about $7m worth of share since it announced a $500 million share buyback in mid-October.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, MINDEROO PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, RIO TINTO LIMITED – ASX RIO

Billionaires battle over small change

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Original article by Brad Thompson
The Australian Financial Review – Page: 18 : 30-Oct-18

Hancock Prospecting and Wright Prospecting have been involved in a dispute over the Rhodes Ridge iron ore deposit for more than 15 years. The deposit has estimated reserves of 5.3 billion tonnes of high-grade iron ore, and it is valued in the billions of dollars. It is owned by Wright Prospecting and Rio Tinto, and it could be developed in the next 10 years. The Western Australian Court of Appeal has ruled that Hancock Prospecting does not have to pay Wright Prospecting special costs.

CORPORATES
HANCOCK PROSPECTING PTY LTD, WRIGHT PROSPECTING PTY LTD, RIO TINTO LIMITED – ASX RIO, COURT OF APPEAL (WESTERN AUSTRALIA), SUPREME COURT OF WESTERN AUSTRALIA

Relief looms for lower-grade ore miners

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Original article by Peter Ker
The Australian Financial Review – Page: 18 : 30-Oct-18

The price of benchmark iron ore with 62 per cent iron content has risen to its highest level for eight months in late October. Macquarie attributes the recent rally to factors such as an increase in Chinese steel production ahead of government-mandated winter cutbacks and growing demand for lower-grade iron ore amid falling margins. Macquarie notes that stockpiles of lower-grade Australian ore have fallen in recent weeks. Meanwhile, the discount for lower-grade ore is expected to narrow, which will benefit companies such as Fortescue Metals Group and Mineral Resources.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, MINERAL RESOURCES LIMITED – ASX MIN, MACQUARIE GROUP LIMITED – ASX MQG, JP MORGAN AUSTRALIA LIMITED, BCI MINERALS LIMITED – ASX BCI, CLEVELAND-CLIFFS INCORPORATED, ATLAS IRON LIMITED – ASX AGO, BROCKMAN MINING LIMITED – ASX BCK