IRON ORE – WESTERN AUSTRALIA

Rinehart dreams, rival falters

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Original article by Peter Ker, Julie-anne Sprague
The Age – Page: 23 : 11-Dec-15

Bulk carrier "MV Anangel Explorer" departed Port Hedland with the first shipment of iron ore from Gina Rinehart’s Roy Hill project on 10 December 2015. Despite the downturn in the iron price, Roy Hill CEO Barry Fitzgerald is confident that the $A10bn project will be profitable, while executive director Tad Watroba notes that the bulk of its output will be sold via supply contacts rather than on the spot market. Meanwhile, BC Iron has advised that a review of its Nullagine iron ore mine will have no impact on its other mines.

CORPORATES
ROY HILL IRON ORE PTY LTD, HANCOCK PROSPECTING PTY LTD, BC IRON LIMITED – ASX BCI, FORTESCUE METALS GROUP LIMITED – ASX FMG, SHAW AND PARTNERS LIMITED, POSCO, MARUBENI CORPORATION, CHINA STEEL CORPORATION, UBS HOLDINGS PTY LTD

On eve of triumph, Rinehart lashes out at sceptics

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Original article by Julie-anne Sprague
The Australian Financial Review – Page: 3 : 10-Dec-15

Bulk carrier "MV Anangel Explorer" is scheduled to leave Port Hedland with the first shipment from the Roy Hill iron ore project on 10 December 2015. Exports had initially been slated to commence by the end of the third quarter, and mining magnate Gina Rinehart has criticised the media for unduly focusing on the delays at Roy Hill rather than the project’s achievements. Rinehart’s Hancock Prospecting holds a 70 per cent stake in the project.

CORPORATES
ROY HILL IRON ORE PTY LTD, HANCOCK PROSPECTING PTY LTD, CITIGROUP PTY LTD, MERRILL LYNCH (AUSTRALIA) PTY LTD, SAMSUNG C&T CORPORATION, POSCO, MARUBENI CORPORATION, CHINA STEEL CORPORATION

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

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

Rinehart, Wright win legal battle against Rio Tinto

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Original article by Jonathan Barrett, Marianna Papadakis
The Australian Financial Review – Page: 10 : 15-Oct-15

The High Court of Australia has ruled in favour of Hancock Prospecting and Wright Prospecting in a case against Rio Tinto over some $A130 million in royalties. Lawyers for the litigants argued successfully that Rio Tinto owed royalties to Hancock Prospecting and Wright Prospecting, as the mining giant still controlled the mineral tenements and exploration licences in Western Australia’s Pilbara region.

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

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

Palmer sues CITIC for $A10b over iron ore project

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Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 1-Sep-15

Resources owner and federal MP Clive Palmer has filed a $A10 billion law suit against CITIC over its iron ore project in Western Australia. He alleges a breach of a commercial arrangement involving iron ore royalties. Palmer also launched a separate $A170 million claim against two directors of CITIC subsidiaries based in Perth and a CITIC Capital director in Hong Kong.

CORPORATES
CITIC LIMITED, SINO IRON PTY LTD, CITIC CAPITAL PARTNERS LIMITED, SUPREME COURT OF WESTERN AUSTRALIA, MINERALOGY PTY LTD, CITIC PACIFIC MINING MANAGEMENT PTY LTD, PALMER UNITED PARTY

Clay forces Hope Downs rethink

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Original article by Nick Evans
The West Australian – Page: online : 25-Aug-15

Rio Tinto is experiencing technical problems at the Hope Downs 1 iron ore project in Western Australia. The company found that ”clay-like geothetic material” at Hope Downs 1’s two main deposits clogs up processing equipment. The problem has an adverse impact on production rates at Hope Downs 1. Rio Tinto applied to the state’s Environmental Protection Authority to be allowed to mine the nearby Baby Hope deposit. Dry material from the deposit is suitable for blending with the clay that causes mechanical problems.

CORPORATES
RIO TINTO LIMITED – ASX RIO, WESTERN AUSTRALIA. ENVIRONMENTAL PROTECTION AUTHORITY, HANCOCK PROSPECTING PTY LTD, BC IRON LIMITED – ASX BCI, FORTESCUE METALS GROUP LIMITED – ASX FMG

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