IRON ORE – WESTERN AUSTRALIA

Rio reveals 80-year plan for Pilbara iron ore mines

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Original article by Brad Thompson
The Australian – Page: 13 & 19 : 29-Jul-25

Rio Tinto is seeking environmental approval from the Western Australian government for its East Pilbara Strategic Proposal. Rio Tinto has stated that the EPSP covers potential future developments in the region over the next eight decades, including iron ore mining and renewable energy projects, as well as supporting infrastructure. BHP secured approval for a similar proposal in the Pilbara in 2019, which enabled project approvals to be streamlined. Rio Tinto’s long-term commitment to the Pilbara is in contrast to recent warnings from Fortescue’s founder Andrew Forrest that the region is at risk of becoming a ‘wasteland’

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP GROUP LIMITED – ASX BHP, FORTESCUE LIMITED – ASX FMG

MinRes softens on exit of Ellison

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Original article by Brad Thompson
The Australian – Page: 13 & 19 : 9-Jul-25

Mineral Resources’ MD Chris Ellison had been expected to leave the iron ore and lithium miner by April 2026. However, the company has told investors that chairman Malcolm Bundey is reviewing its leadership transition plan, which was put in place in late 2024 after Ellison was embroiled in a tax evasion scandal. MinRes indicated that the review will take into consideration the best interests of shareholders. MinRes is also under scrutiny over its dealings with Kali Metals and a deal to award a contract to a company that has links to Ellison’s daughter.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, KALI METALS LIMITED – ASX KM1

MinRes sells troubled Yilgarn iron ore projects

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Original article by Elouise Fowler
The Australian Financial Review – Page: 19 : 1-Jul-25

Perth-based Yilgarn Iron Investments has secured a deal to buy the mothballed Yilgarn iron ore projects in Western Australia from Mineral Resources. The Yilgarn mines in the state’s Goldfields region were shut down in late 2024, and more than 800 workers were redeployed to the company’s other projects. Mineral Resources has advised that the commercial terms of the deal are ‘confidential and immaterial’. The deal only comprises the Yilgarn hub’s iron ore assets, and Mineral Resources will retain the rights to gold and lithium deposits.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, YILGARN IRON INVESTMENTS PTY LTD

New mine firms up Rio, Rinehart partnership

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

Rio Tinto and Hancock Prospecting will proceed with the the Hope Downs 2 iron ore project in the Pilbara, after it received the final regulatory approvals from the federal and Western Australian governments earlier in June. The project is part of the broader Hope Downs joint venture between Rio Tinto and the Gina Rinehart-controllled Hancock Prospecting. The two companies will split the cost of developing the new mine, which comprises the Hope Downs 2 and Bedded Hilltop deposits; annual production of about 31 million tonnes is scheduled to begin in 2027.

CORPORATES
RIO TINTO LIMITED – ASX RIO, HANCOCK PROSPECTING PTY LTD

MinRes slices into iron ore guidance

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Original article by Brad Thompson
The Australian – Page: 14 : 28-May-25

Mineral Resources has advised that its Onslow Iron project has shipped 1.7 million tonnes of iron ore so far in May, and shipments for the full month are expected to total 1.9 million tonnes. This compares with 1.3 million tonnes in April, while the company expects shipments for June to be within the range of 2.3 million to 2.6 million tonnes. However, Mineral Resources has indicated that the Onslow Iron project’s full-year output for 2024-25 is now expected to be within the range of 7.8 to 8 million tonnes, compared with previous guidance of 8.5 million to 8.7 million tonnes.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN

Rio Tinto’s declining iron ore blend to hit revenues

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Original article by Peter Ker
The Australian Financial Review – Page: 14 : 14-May-25

Rio Tinto has advised Asian steel mills that the iron content in each tonne of its flagship ‘Pilbara Blend Fines’ product will be permanently reduced from 61.6 per cent to 60.8 per cent. The change is scheduled to take effect in the September quarter, and reflects a decline in the quality of Rio Tinto’s iron ore. The downgrade will affect the company’s earnings, while independent economist Saul Eslake says it is also likely to have an impact on the federal and Western Australian governments’ budgets. Rio Tinto has also indicated that its Pilbara Blend Fines will also have higher levels of impurities.

CORPORATES
RIO TINTO LIMITED – ASX RIO

MinRes losses last person on board ethics committee

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Original article by Mark Wembridge
The Australian Financial Review – Page: 27 : 24-Apr-25

Iron ore and lithium producer Mineral Resources is under futher scrutiny after the resignation of a third independent director in the last week. Denise McComish has stepped down from the board with immediate effect, following the recent departure of Jacqueline McGill and Susie Corlett. The three women had solely comprised Mineral Resources’ ethics and governance committee, which had been established in late 2024 in response to a series of scandals involving MD Chris Ellison. The debt-laden company will also shortly have to appoint a successor to outgoing chairman James McClements.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN

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