IRON MINES AND MINING – WESTERN AUSTRALIA

Roy Hill yield delayed in shipping

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Original article by Sarah-Jane Tasker, Andrew Burrell
The Australian – Page: 21 : 4-Dec-15

The first shipment of iron ore from Gina Rinehart’s Roy Hill project in Western Australia was slated to leave on 4 December 2015. However, Roy Hill has advised that the departure of the cargo ship will be delayed by a week due to the requirements of the Port Hedland Port Authority. The iron ore price is edging towards $US40 per tonne, compared with around $US120 a tonne when work on the Roy Hill project commenced. Meanwhile, the Sydney Mining Club has named Rinehart its Miner of the Decade.

CORPORATES
ROY HILL IRON ORE PTY LTD, HANCOCK PROSPECTING PTY LTD, SYDNEY MINING CLUB, PORT HEDLAND PORT AUTHORITY

Fortescue tips iron ore demand, as price falls

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Original article by Peter Ker, Tess Ingram
The Australian Financial Review – Page: 25 : 19-Nov-15

The iron ore price fell by 4.5 per cent to $US45.68 per tonne on 18 November 2015. However, Fortescue Metals Group CEO Nev Power is upbeat about the outlook for iron ore, saying there are signs of an improvement in China’s housing construction market. Power adds that Fortescue is not "actively" considering asset sales at present, and says Chinese steel mills are more likely to look at investing in the sector when the iron ore price begins to rebound.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, ATLAS INTERNATIONAL TRAVEL, BC IRON LIMITED – ASX BCI, MOUNT GIBSON IRON LIMITED – ASX MGX, GRANGE RESOURCES LIMITED – ASX GRR, ROY HILL IRON ORE PTY LTD, VALE SA, SAMARCO MINERACAO SA, CLIFFS NATURAL RESOURCES INCORPORATED, RBC CAPITAL MARKETS

Twiggy predicts iron ore prices will fall further

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Original article by Julie-anne Sprague
The Australian Financial Review – Page: 21 & 28 : 12-Nov-15

The iron ore price is currently trading at around $US48 per tonne, and Fortescue Metals Group chairman Andrew Forrest has forecast that it could remain below $US50 in the near-term. He has again criticised BHP Billiton and Rio Tinto for ramping up iron ore production during a period of price weakness. Meanwhile, 19.3 per cent of shareholders at Fortescue’s 2015 AGM voted against its remuneration report.

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

Fortescue offers BC Iron some rail access slack

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Original article by Tess Ingram
The Australian Financial Review – Page: 31 : 28-Oct-15

The iron ore price was trading at $US51.03 per tonne on 27 October 2015. A new rail tariff deal between Fortescue Metals Group and BC Iron will reduce the latter’s costs by about $A2.3m if the price remains at around this level. The partners in the Nullagine joint venture will trial a new rail access regime whereby the tariff rate is linked to the iron ore price.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BC IRON LIMITED – ASX BCI

Atlas Iron lifts, nickel miners slump

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Original article by Tess Ingram
The Australian Financial Review – Page: 19 : 11-Sep-15

Atlas Iron has reported higher margins for August 2015, while it has achieved its full-year iron ore production target four months ahead of schedule. Meanwhile, the sharp downturn in the nickel price over the last year has weighed heavily on smaller Western Australia-focused nickel producers. Some have scaled back production or closed mines, while there is speculation that others will do so as well.

CORPORATES
ATLAS IRON LIMITED – ASX AGO, INDEPENDENCE GROUP NL – ASX IGO, PANORAMIC RESOURCES LIMITED – ASX PAN, MINCOR RESOURCES NL – ASX MCR, POSEIDON NICKEL LIMITED – ASX POS, UBS HOLDINGS PTY LTD, GMP SECURITY PTY LTD, SIRIUS RESOURCES NL, BHP BILLITON LIMITED – ASX BHP, NICKEL WEST, McALEESE LIMITED – ASX MCS, QUBE HOLDINGS LIMITED – ASX QUB, MACA LIMITED – ASX MLD, PATERSONS SECURITIES LIMITED, WESTERN AREAS LIMITED – ASX WSA

Atlas Iron shares slide after return to trading

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Original article by Peter Ker, Tess Ingram
The Australian Financial Review – Page: 16 : 28-Jul-15

More than 266 million Atlas Iron shares changed hands on 27 July 2015, after the stock traded for the first time since April. The iron ore producer’s shares closed at $A0.036 after reaching an intra-day low of $A0.031, and Matthew Keane of Argonaut believes that the stock could fall further Atlas shares were placed in a trading halt at $A0.12 in April, and the latest slump has reduced its market capitalisation to just $A95.9m.

CORPORATES
ATLAS IRON LIMITED – ASX AGO, ARGONAUT SECURITIES PTY LTD, BGC CONTRACTING PTY LTD, McALEESE LIMITED – ASX MCS

Rinehart lieutenant bullish on ore, flags Roy Hill delays

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Original article by Perry Williams
The Australian Financial Review – Page: 13 & 18 : 27-Jul-15

Iron ore was trading at $US51 per tonne on 24 July 2015, but Hancock Prospecting executive director Tad Watroba expects it to rebound to $US80, due to factors such as continued strong demand from China. Meanwhile, Watroba has indicated that factors such as inclement weather and safety concerns will delay the start of production at the Roy Hill iron ore project until early October. Production had been initially slated to commence in September.

CORPORATES
HANCOCK PROSPECTING PTY LTD, ROY HILL HOLDINGS PTY LTD, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, VALE SA, FORTESCUE METALS GROUP LIMITED – ASX FMG, CHINA IRON AND STEEL INDUSTRY ASSOCIATION, POSCO, MARUBENI CORPORATION, CHINA STEEL CORPORATION, CREDIT SUISSE (AUSTRALIA) LIMITED

Atlas adds $86m but well short of target

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Original article by Tess Ingram
The Australian Financial Review – Page: 17 : 21-Jul-15

The capital raising of Australian-listed Atlas Iron has fallen significantly short of its $A180m target. The iron ore producer has raised about $A30m from retail investors and around $A12m from institutional investors, while its contractors had previously agreed to subscribe to some $A44m worth of shares. Atlas shares were suspended from trading in April 2015, and the stock may resume trading on 27 July.

CORPORATES
ATLAS IRON LIMITED – ASX AGO, McALEESE LIMITED – ASX MCS, QUBE HOLDINGS LIMITED – ASX QUB, MACA LIMITED – ASX MLD, WESTERN ASSET MANAGEMENT COMPANY, FORTRESS INVESTMENT GROUP LLC, SANKATY ADVISORS LLC, MARATHON ASSET MANAGEMENT LIMITED

Rio sticks to strategy amid weather woes

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 18 : 17-Jul-15

Rio Tinto expects to export 340 million tonnes of iron ore in 2015, compared with previous expectations of 350 million tonnes. Rio has attributed the downgrade to the impact of adverse weather events during the first half of the calendar year, which disrupted production and reduced port capacity. Citigroup estimates that Rio will have to increase its iron ore shipments and fall back on stockpiles to achieve its revised full-year export target. The group’s shares closed 0.3 per cent higher at $A53.31 on 16 July.

CORPORATES
RIO TINTO LIMITED – ASX RIO, CITIGROUP PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP

Mt Gibson iron ore mine may close if prices stay low

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Original article by Tess Ingram
The Australian Financial Review – Page: 22 : 16-Jul-15

Mount Gibson Iron achieved a 15 per cent reduction in costs at its Extension Hill iron ore mine in Western Australia during the second half of 2014-15. The group aims to further reduce costs in 2015-16, with production slated to rise from three million tonnes per annum to at least 3.5 million tonnes. However, CEO Jim Beyer has not ruled out closing the mine if the iron ore price remains subdued. The steel input is trading at around $US50 per tonne.

CORPORATES
MOUNT GIBSON IRON LIMITED – ASX MGX