IRON MINES AND MINING – WESTERN AUSTRALIA

Rio Tinto flags $150m storm hit to iron ore exports

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Original article by Peter Ker
The Australian Financial Review – Page: 27 : 17-Apr-25

Rio Tinto shipped just 70.7 million tonnes of iron ore from the Pilbara during the March quarter, which is 17 per cent lower than the last three months of 2024. Production was affected by four cyclones during the period, putting Rio Tinto about 13 million tonnes behind schedule on achieving its full-year target of shipping between 323 million and 338 million tonnes. Rio Tinto expects to incur mitigation costs of about $150m as it seeks to reach the lower end of its guidance. Meanwhile, the Pilbara Ports Authority has advised that 133.62 million tonnes of iron ore was shipped through Port Hedland during the March quarter, an increase of 1.3 per cent year-on-year; Port Hedland is used by BHP, Fortescue and Hancock Prospecting.

CORPORATES
RIO TINTO LIMITED – ASX RIO, PILBARA PORT AUTHORITY, BHP GROUP LIMITED – ASX BHP, FORTESCUE LIMITED – ASX FMG, HANCOCK PROSPECTING PTY LTD

Fortescue racks up $350m drill bill in net zero emissions push

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Original article by Brad Thompson
The Australian – Page: 13 & 19 : 16-Apr-25

Pure-play iron ore miner Fortescue expects the deployment of electric drill rigs at its Pilbara mines to reduce diesel fuel usage by about 35 million litres per year and carbon dioxide emissions by more than 90,000 tonnes. Fortescue will pay about $350m for 50 electric drill rigs that are manufactured by Sweden-based Epiroc. Fortescue has also commenced construction of a 190-megawatt solar farm at its Cloudbreak mine, as part of its strategy to achieve a net-zero emissions target of 2030. The Cloudbank solar farm will boast almost double the capacity of Fortescue’s only existing solar farm.

CORPORATES
FORTESCUE LIMITED – ASX FMG

Barnett: secret Chevron deal never meant to cover iron ore

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Original article by Brad Thompson
The Australian – Page: 13 & 16 : 15-Apr-25

US energy giant Chevron could potentially gain up to $1bn from an infrastructure levy via a confidential deal with the Western Australian government. Mineral Resources is challenging a decision to impose the levy for exporting iron ore via the Chevron-built Port of Ashburton and a shipping channel that was dredged as part of its Wheatstone LNG project. Chevron subsequently transferred ownership of the port and shipping channel to the government, but retained the right to receive a levy for their use. Former WA premier Colin Barnett says Chevron is entitled to such revenue, but he contends that the figures being mooted are excessive because nobody had expected iron ore to be shipped from Ashburton.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, CHEVRON CORPORATION

Unions to target MinRes after milestone BHP win

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 11 : 8-Apr-25

The push to reunionise the Pilbara has received a boost after BHP agreed to commence enterprise bargaining negotiations for electrical workers at its mines in Western Australia. The Electrical Trades Union’s state branch says BHP’s decision to formally concede that a majority of its power workers want an enterprise agreement is a "massive win". The ETU has submitted a separate application to the Fair Work Commission for an order requiring BHP to bargain on behalf of its rail signal technicians in WA. Unions are also targeting rival iron ore producers Rio Tinto and Mineral Resources.

CORPORATES
BHP GROUP LIMITED – ASX BHP, ELECTRICAL TRADES UNION, AUSTRALIA. FAIR WORK COMMISSION, RIO TINTO LIMITED – ASX RIO, MINERAL RESOURCES LIMITED – ASX MIN

Juukan payments stay secret

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Original article by Peter Ker
The Australian Financial Review – Page: 3 : 1-Apr-25

The Juukan Gorge Legacy Foundation has been given permission by the Australian Charities & Not-For-Profits Commission to redact most of the information from its annual accounts. The Foundation was established by Rio Tinto and the Puutu Kunti Kurrama and Pinikura people in 2023 as part of an agreement to remedy the iron ore miner’s destruction of Indigenous heritage at Juukan Gorge in 2020, with the Foundation receiving a multimillion-dollar payment from Rio each year. Confirming that the Australian Charities and Not-For-Profits Commission had given it permission to redact its accounts, a Foundation spokesman said it was done to "avoid pricing heritage destruction".

CORPORATES
JUUKAN GORGE LEGACY FOUNDATION, AUSTRALIAN CHARITIES AND NOT-FOR-PROFITS COMMISSION, RIO TINTO LIMITED – ASX RIO

Union bid to force Rio to negotiating table

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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

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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

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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

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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

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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