IRON MINES AND MINING – WESTERN AUSTRALIA

Rio, FMG ramp up production rates

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Original article by Amanda Saunders
The Australian Financial Review – Page: 17 & 19 : 17-Jul-14

Both Rio Tinto and Fortescue Metals Group on 16 July 2014 announced promising output data for the quarter ending 30 June, with Rio even ahead of forecasts. Iron ore production at its operations in the Pilbara region of Western Australia was up 11% year-on-year to reach 73.1 million tonnes. Fortescue meanwhile has achieved an annualised iron ore shipments figure of 155 million tonnes. However the price per tonne in the three months was a fifth below the benchmark price, at just $US82

CORPORATES
RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, DEUTSCHE BANK AG

Rinehart feud risks iron ore project: daughter

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Original article by Andrew Burrell
The Australian – Page: 6 : 24-Jun-14

Supreme Court of New South Wales judge Paul Brereton will on 24 June 2014 hear more on the suit brought by John Hancock and Bianca Rinehart against their mother, mining heiress Gina Rinehart. The issue is the latter’s control of a family trust that owns 23.4% of Hancock Prospecting and a stake worth $A10bn in the Hope Downs iron ore tenements. The daughter will argue that she is qualified to act as the new trustee after her mother has stepped down, and that to appoint someone from outside the family may trigger a clause under which partner Rio Tinto would acquire all of Hope Downs

CORPORATES
RIO TINTO LIMITED – ASX RIO, HANCOCK PROSPECTING PTY LTD, HOPE DOWNS IRON ORE PTY LTD, HOPE MARGARET HANCOCK TRUST, SUPREME COURT OF NEW SOUTH WALES