IRON ORE – WESTERN AUSTRALIA

Fortescue sets ambitious new hydrogen goals

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Original article by Nick Evans
The Australian – Page: 16 : 6-Oct-21

Iron ore miner Fortescue Metals Group has set a net-zero target date of 2040 for its scope 3 emissions. Fortescue’s plans to become a major player in the global hydrogen industry will be central to achieving the ambitious target. Buyers of Fortescue’s iron ore account for about 98 per cent of the group’s scope 3 emissions; this equates to around 246.1 million tonnes of carbon dioxide equivalent in 2020-21. Fortescue has also set a target of 2030 for its mining operations to become carbon-neutral, while it has outlined plans to decarbonise its fleet of ore carriers.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG

Fortescue, ANZ link to bribes tycoon

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Original article by Liam Walsh, Neil Chenoweth
The Australian Financial Review – Page: 1 & 2 : 6-Oct-21

The Pandora Papers have revealed that several prominent Australian companies have links to Chinese businessman Du Shuanghua, who had testified in 2010 that he had paid bribes to secure Australian iron ore. The documents released by the International Confederation of Investigative Journalists show that Fortescue Metals Group had sold iron ore to Bright Ruby Resources, a commodities trading hub that is controlled by Du. Fortescue has stated that it has a "zero tolerance" approach to bribery and corruption. The Pandora Papers also show that the ANZ Bank has been providing banking services to Bright Ruby Resources since 2013, via its office in Singapore. Du was not prosecuted for his role in the alleged bribery scandal that involved former Rio Tinto executive Wang Yong.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, INTERNATIONAL CONSORTIUM OF INVESTIGATIVE JOURNALISTS, BRIGHT RUBY RESOURCES PTE LTD, RIO TINTO LIMITED – ASX RIO

Forrest speech on handouts earns rebuke

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Original article by Brad Thompson, Peter Ker
The Australian Financial Review – Page: 19 : 2-Sep-21

Iron ore magnate Andrew Forrest says welfare and mining royalties have contributed to the "wanton destruction" of the culture and livelihoods of indigenous Australians. He has told a conference that Fortescue Metals Group is focused on giving indigenous people a hand up rather than a hand out, by providing them with training and employment opportunities. However, his comments have been criticised by Yindjibarndi Aboriginal Corporation CEO Michael Woodley, who says Fortescue’s priority should be fair compensation for indigenous communities.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, YINDJIBARNDI ABORIGINAL CORPORATION

BHP flags long China coal ban

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Original article by Nick Evans
The Australian – Page: 13 & 16 : 21-Jul-21

BHP has advised that it produced a record 284.1 million tonnes of iron ore in the Pilbara region of Western Australia during 2020-21. The resources group shipped 283.9 million tonnes of iron ore from the Pilbara, compared with 283.3 million tonnes for the previous financial year. BHP expects to produce 278 to 288 million tonnes of iron ore in the Pilbara in 2021-22, while the group has warned that China’s ban on Australian coal imports is likely to remain in place for some time.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Rio feels pinch as labour hit slows exports

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Original article by Nick Evans
The Weekend Australian – Page: 25 : 17-Jul-21

Rio Tinto’s iron ore shipments fell 12 per cent to 76.3 million tonnes in the June quarter, while its half-year shipments were down three per cent to 154.1 million tonnes. Rio cited a range of factors for the fall in shipments, including labour shortages and the need to revamp mine plans around Pilbara heritage sites. Rio’s previous full year guidance for shipments was between 325 to 340 million tonnes, and it now expects shipments to be at the lower end of its forecast. However, to even achieve that will require it to ship 171 million tonnes in the second half of 2021

CORPORATES
RIO TINTO LIMITED – ASX RIO

Fortescue vindicated on hydrogen

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Original article by Brad Thompson
The Australian Financial Review – Page: 14 : 7-Jul-21

Fortescue Metals Group has outlined the progress it has achieved in its goal of making its iron ore operations carbon-neutral by 2030. The pure-play producer has advised that it has produced high-purity ‘green’ iron from its Pilbara iron ore via a trial decarbonisation project that is being run by its Fortescue Future Industries subsidiary. The trials have also resulted in the production of ‘green’ cement by combining waste from the green iron process with other materials.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, FORTESCUE FUTURE INDUSTRIES PTY LTD

BHP to overtake Rio in premium iron ore

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Original article by Peter Ker
The Australian Financial Review – Page: Online : 7-Jun-21

BHP could soon become Australia’s biggest exporter of ‘lump’ iron ore following the recent start of production at its new South Flank mine in the Pilbara. Lump iron ore is a premium product that attracts a higher price than ‘fines’, which is Australia’s biggest iron ore export. Lump iron ore can be used in steel-making without first undergoing the sintering process, which is both energy-intensive and generates carbon emissions. The South Flank mine will increase the proportion of lump in BHP’s iron ore exports to 30-33 per cent, compared with 24-25 per cent in recent years.

CORPORATES
BHP GROUP LIMITED – ASX BHP

BHP hiring as it faces critical lack of drivers

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 27-May-21

BHP plans to hire an additional 200 train drivers for its iron ore operations in the Pilbara, in response to what has been described as a ‘critical’ shortage in the sector. BHP’s iron ore asset president Brandon Craig says the new trainees will have "rewarding careers" at the resources group, which suggests that BHP will not follow Rio Tinto in shifting to driverless trains. BHP uses automated trucks at its Jimblebar iron ore mine, while the Gina Rinehart-backed Roy Hill aims to fully automate its fleet of trucks by 2023.

CORPORATES
BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, ROY HILL HOLDINGS PTY LTD

Super quick payback looms on BHP’s South Flank mine

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Original article by Peter Ker
The Australian Financial Review – Page: Online : 21-May-21

BHP commenced production at its new South Flank iron ore mine on 20 May, less than three years after the $US3.6bn project was approved. South Flank is slated to produce about 40 million tonnes of iron ore in fiscal 2022, and the mine is scheduled to reach full capacity of 80 million tonnes in its third year of operation. The iron ore price is currently trading above $US210 per tonne, compared with just $US66 per tonne when BHP’s board approved the project in June 2018.

CORPORATES
BHP GROUP LIMITED – ASX BHP

Record production in sight for BHP

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Original article by Nick Evans
The Australian – Page: 16 : 22-Apr-21

BHP’s quarterly activities report shows that it shipped 66 million tonnes of iron ore from the Pilbara in the March quarter. This compares with 70.8 million tonnes in the December quarter and 68.5 million tonnes during the first three months of 2020. However, the fall in export volumes had been flagged by BHP in early 2021. The resources giant will only need to ship 73.1 million tonnes in the June quarter to exceed its 2019-20 export total of 283.3 million tonnes. BHP’s full-year profits will be boosted by the continued strength of the iron ore price, which has reached a 10-year high of $US189.61 a tonne.

CORPORATES
BHP GROUP LIMITED – ASX BHP