IRON ORE – WESTERN AUSTRALIA

Twiggy’s hydrogen kickstart

roymorgansocial Leave a comment

Original article by Mark Ludlow
The Australian Financial Review – Page: 5 : 23-Nov-18

Fortescue Metals Group chairman Andrew Forrest says the iron ore miner is keen to be involved in the development of hydrogen as a low-emissions fuel. Fortescue and the CSIRO have signed a $20 million agreement to develop and commercialise CSIRO technology that extracts pure hydrogen from ammonia. Mercedes-Benz, Honda, Hyundai and Toyota are all developing hydrogen-powered cars. Forrest has described hydrogen fuel as an "energy revolution".

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, CSIRO, MERCEDES-BENZ AG, HONDA MOTOR CORPORATION, HYUNDAI MOTOR COMPANY LIMITED, TOYOTA MOTOR CORPORATION, TESLA INCORPORATED

Forrest says Fortescue will embrace new energy, AI

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 22 : 16-Nov-18

Fortescue Metals Group chairman Andrew Forrest says the pure-play iron ore miner views thermal coal as a 20th century energy source and it will only invest in "new energy". Forrest adds that Fortescue is also committed to investing in automation and artificial intelligence, and says such technology should be embraced rather than feared. Fortescue is deploying automated haulage trucks at its iron ore mines in the Pilbara. A decision on a proposed expansion of its Iron Bridge magnetite concentrate joint venture is expected by the end of 2018.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, CHINA BAOWU STEEL GROUP CORPORATION LIMITED, FORMOSA PLASTICS CORPORATION

Mystery still shrouds BHP derailment

roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian Financial Review – Page: 18 : 13-Nov-18

BHP Billiton has resumed rail operations in Western Australia’s Pilbara region after it was forced to detail an iron ore train on 5 November. The cause of the incident is still being investigated, but sources within BHP have suggested that the problem may have been linked to maintenance issues. Meanwhile, heavy rain and flash flooding is believed to have contributed to the derailing of an empty iron ore train that was returning to Mineral Resources’ Koolyanobbing mine on 11 November. The company does not expect the incident to affect the mine’s output.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, MINERAL RESOURCES LIMITED – ASX MIN, BROOKFIELD ASSET MANAGEMENT INCORPORATED, ARC INFRASTRUCTURE

Rinehart claims she sits top of nation’s tax table

roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian Financial Review – Page: 19 : 2-Nov-18

The annual report of Gina Rinehart’s Hancock Prospecting shows that its profit rose by 28 per cent to $1.37m in 2017-18, with revenue from its Roy Hill iron ore project rising from $4.45bn to more than $6bn. Hancock paid $860 million in federal and state taxes during 2017-18, compared with $698m in the previous financial year, and it has paid $5 billion in taxes over the last eight years. Rinehart has issued a statement claiming that she pays more tax than any other Australian.

CORPORATES
HANCOCK PROSPECTING PTY LTD, ATLAS IRON LIMITED – ASX AGO, FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIAN OUTBACK BEEF, S KIDMAN AND COMPANY PTY LTD, SIRIUS MINERALS PLC, RIVERSDALE RESOURCES LIMITED, RIO TINTO LIMITED – ASX RIO, WRIGHT PROSPECTING PTY LTD, SUPREME COURT OF WESTERN AUSTRALIA, FEDERAL COURT OF AUSTRALIA

Fortescue up after Forrest buys shares

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 19 : 2-Nov-18

Fortescue Metals Group chairman Andrew Forrest has increased his stake in the pure-play iron ore miner from 32.46 per cent to 33.87 per cent after buying 3.95 million shares in late October. Fortescue’s shares closed at a 10-week high of $4.11 on 1 November, and the stock has gained 13 per cent since Forrest’s on-market share transaction. Fortescue has also repurchased about $7m worth of share since it announced a $500 million share buyback in mid-October.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, MINDEROO PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, RIO TINTO LIMITED – ASX RIO

Billionaires battle over small change

roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian Financial Review – Page: 18 : 30-Oct-18

Hancock Prospecting and Wright Prospecting have been involved in a dispute over the Rhodes Ridge iron ore deposit for more than 15 years. The deposit has estimated reserves of 5.3 billion tonnes of high-grade iron ore, and it is valued in the billions of dollars. It is owned by Wright Prospecting and Rio Tinto, and it could be developed in the next 10 years. The Western Australian Court of Appeal has ruled that Hancock Prospecting does not have to pay Wright Prospecting special costs.

CORPORATES
HANCOCK PROSPECTING PTY LTD, WRIGHT PROSPECTING PTY LTD, RIO TINTO LIMITED – ASX RIO, COURT OF APPEAL (WESTERN AUSTRALIA), SUPREME COURT OF WESTERN AUSTRALIA

Iron ore shipments drop 8.6pc as Fortescue Metals Group starts $500m buyback

roymorgansocial Leave a comment

Original article by Rushil Dutta
The West Australian – Page: Online : 26-Oct-18

Pure-play iron ore miner Fortescue Metals Group still expects its 2018-19 production to be within the range of 165 million to 173 million tonnes. This is despite its shipments for the first quarter falling by 8.6 per cent year-on-year to 40.2 million tonnes. Fortescue has also advised that its cash production costs rose by nine per cent in the September quarter, to an average of $US13.19 per wet metric tonne. Costs for the full year are expected to be within its previous guidance of $US12 to $US13 per wet metric tonne.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG

BHP digs deep to make new Pilbara mine female friendly

roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian Financial Review – Page: 17 : 26-Oct-18

BHP Billiton has awarded about $1.5 billion worth of contracts associated with its new South Flank iron ore mine in the Pilbara. BHP has required contractors to demonstrate their track record with regard to gender and cultural diversity when bidding for South Flank contracts, as part of its push for the project to have a gender-balanced workforce. Women comprise about 35 per cent of workers at South Flank, which is slated to commence production in 2021.

CORPORATES
BHP BILLITON LIMITED – ASX BHP

Frustrated CITIC drags WA into Palmer stoush

roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian Financial Review – Page: 20 : 23-Oct-18

CITIC is pursuing Federal Court action in a bid to end the long-running stand-off with Clive Palmer’s Mineralogy over the Sino Iron magnetite project in Western Australia. China-based CITIC is seeking new approvals for the project, as well as additional land to use for tailings and waste storage. Perth-based subsidiary CITIC Pacific Mining has argued that the additional approvals are needed to allow mining and processing at the site to continue. CITIC’s claims have been disputed by Mineralogy.

CORPORATES
CITIC LIMITED, MINERALOGY PTY LTD, SINO IRON PTY LTD, CITIC PACIFIC MINING MANAGEMENT PTY LTD, KOREAN STEEL PTY LTD, FEDERAL COURT OF AUSTRALIA, SUPREME COURT OF WESTERN AUSTRALIA

BHP dials down copper target after unplanned outages

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 19 & 24 : 18-Oct-18

BHP Billiton’s production report for the September quarter shows that the resources giant has scaled back its forecast for copper output in 2018-19. BHP expects full-year production to be within the range of 1.62 million to 1.705 million tonnes, compared with previous guidance of 1.67 million to 1.77 million tonnes. The downgrade has been attributed to disruptions at the Olympic Dam mine in South Australia and the Spence project in Chile. Meanwhile, BHP’s iron ore shipments totalled 69.42 million tonnes during the quarter, and the company still expects Pilbara iron ore volumes of 273 million to 283 million tonnes for the full year.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, RBC CAPITAL MARKETS