Union bid to force Rio to negotiating table

March 14, 2025roymorgansocial Leave a comment

Original article by Ewin Hannan,(SPACE)Brad Thompson
The Australian – Page: Online : 14-Mar-25

The Western Mine Workers Alliance is to apply to the Fair Work Commission to have Rio Tinto forced into collective bargaining at its Paraburdoo iron ore mine operation in the Pilbara. The Alliance, which is made up of the Mining & Energy Union and the Australian Workers Union, claims that more than 400 workers at Paraburdoo had signed a petition in favour of having a collective agreement. The unions claim that members can earn on average 30 per cent more than non-union members as a result of collective bargaining, while Rio has reiterated that its existing employment model has helped to "drive productivity and wages growth".

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION,(SPACE)RIO TINTO LIMITED – ASX RIO,(SPACE)MINING AND ENERGY UNION,(SPACE)AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES

Unions blast Rio as they fight for foothold in Pilbara

March 4, 2025roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian – Page: Online : 4-Mar-25

Unions are seeking to establish a presence in Western Australia’s Pilbara iron ore region, and are trying to sign up workers at Rio Tinto’s Paraburdoo operations. The Western Mine Workers Alliance claims that Rio and other iron ore mining companies operating in the Pilbara are trying to discourage workers from making use of new industrial relations laws that have been introduced by the federal government, and the Alliance has accused Rio of running a scare campaign that includes telling employees that signing enterprise bargaining agreements will make mining unviable. The Alliance claims that on average that union members earn up to 30 per cent more than non-union workers, while a spokesperson for Rio said its existing approach to employee relations in the Pilbara has delivered strong growth in both wages and productivity.

CORPORATES
RIO TINTO LIMITED – ASX RIO

FIRB blamed as iron ore deal collapses

February 26, 2025roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian – Page: 18 : 26-Feb-25

Iron ore hopeful CZR Resources’ directors have endorsed a takeover offer from Fenix Resources which is priced at $0.85 per share. This will increase to $0.98 if Fenix gains acceptances for 75 per cent of CZR’s shares before 21 March. CZR announced the bid from Fenix after abandoning a deal to sell its 85 per cent stake in the Robe Mesa deposit in the Pilbara to Miracle Iron Resources, which is owned by a Chinese company. CZR cited delays in gaining Foreign Investment Review Board approval for the decision to walk away from the Miracle Iron deal. Veteran prospector Mark Creasy is the major shareholder in CZR; he also owns a 15 per cent stake in the Robe Mesa project.

CORPORATES
CZR RESOURCES LIMITED – ASX CZR, FENIX RESOURCES LIMITED – ASX FEX, MIRACLE IRON RESOURCES, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Red Hawk backs $254m Fortescue takeover bid

January 29, 2025roymorgansocial Leave a comment

Original article by Giuseppe Tauriello
The Australian – Page: 16 : 29-Jan-25

Red Hawk Mining’ board has unanimously endorsed a $254m takeover offer from pure-play iron ore miner Fortescue. The off-market cash bid values Red Hawk at $1.05 per share, although this will rise to $1.20 if Fortescue secures at least 75 per cent of the target’s shares by 4 February. Fortescue says its offer represents a ‘significant and attractive premium’ for Red Hawk shareholders, while Red Hawk’s ND Steven Michael describes the offer as an ‘attractive outcome’ for the company’s shareholder. Red Hawk’s Blacksmith iron ore project is located near Fortescue’s Solomon hub.

CORPORATES
FORTESCUE LIMITED – ASX FMG, RED HAWK MINING LIMITED – ASX RHK

Fortescue posts record tonnes amid tariff threat

January 24, 2025roymorgansocial Leave a comment

Original article by Elouise Fowler
The Australian Financial Review – Page: 13 : 24-Jan-25

Pure-play iron ore miner Fortescue has advised that its shipments from the Pilbara rose to a record 97.1 million tonnes in the first half of 2024-25. This includes 49.4 million tonnes in the three months to 31 December. Fortescue has maintained its full-year guidance of 190-200 million tonnes. Fortescue’s shares have shed four per cent in recent days, amid fears that the tariff policies of US President Donald Trump will dampen the Chinese steel industry’s demand for iron ore.

CORPORATES
FORTESCUE LIMITED – ASX FMG, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Rio counts cost as Pilbara iron ore operations are flooded

January 21, 2025roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian – Page: 15 : 21-Jan-25

Rio Tinto states it is still assessing the impact of Cyclone Sean on its iron ore operations in the Pilbara, with a spokesman noting that its port and rail infrastructure had been hit by flooding. Observing that Rio’s first priority is the safety of its workers, the spokesman noted that the town of Karratha had experienced 274mm of rain in a 24-hour period. The flooding comes less than a week after Rio disclosed that heavy rain had impacted its iron ore operations in the December quarter and forced it to make use of stockpiles, while it has remained silent about any discussions it may have held with Glencore about a merger between the two big mining companies

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC

Ellison’s delayed exit will harm undervalued MinRes share price

November 6, 2024roymorgansocial Leave a comment

Original article by Mark Wembridge, Tom Rabe, Peter Ker
The Australian Financial Review – Page: 13 & 17 : 6-Nov-24

Sources close to Mineral Resources have suggested that MD Chris Ellison may continue to be either directly or indirectly involved with the company after he steps down within the next 18 months. Bradley Watson from Bell Potter notes that Ellison is the largest shareholder in MinRes, and there could be speculation about the future of his stake in the company when he leaves. Other market observers believe that the relatively long leadership transition could weigh on the company’s share price.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, BELL POTTER SECURITIES LIMITED

Fortescue execs face bonus backlash

November 6, 2024roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian – Page: 16 : 6-Nov-24

Fortescue shareholders will be given a vote on a proposal to grant performance rights to mining division CEO Dino Otranto and clean energy arm CEO Mark Hutchinson. However, Fortescue notes that granting performance rights does not require shareholder approval under the Corporations Act or ASX listing rules; the company has indicated that it will issue the performance rights even if investors vote against the resolution at its AGM on Wednesday. Three large US pension funds will oppose the resolution, with SBA Florida contending that there has been insufficient disclosure of performance targets.

CORPORATES
FORTESCUE LIMITED – ASX FMG, SBA FLORIDA

Bat with bite puts end to ore plan

October 15, 2024roymorgansocial Leave a comment

Original article by Paul Garvey
The Australian – Page: 6 : 15-Oct-24

Rio Tinto has advised that it will not proceed with the Giles Mini iron ore mine, which was to be part of the broader Rhodes Ridge project in the Pilbara. Rio Tinto and its partners in Giles Mini have withdrawn their application to develop the deposit due to concerns about its impact on the habitat of the ghost bat, which is classified as a vulnerable species. However, the Rhodes Ridge project will still go ahead, despite also being home to a sub-population of the carnivorous ghost bat.