IRON ORE – 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

Atlas adds $86m but well short of target

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Original article by Tess Ingram
The Australian Financial Review – Page: 17 : 21-Jul-15

The capital raising of Australian-listed Atlas Iron has fallen significantly short of its $A180m target. The iron ore producer has raised about $A30m from retail investors and around $A12m from institutional investors, while its contractors had previously agreed to subscribe to some $A44m worth of shares. Atlas shares were suspended from trading in April 2015, and the stock may resume trading on 27 July.

CORPORATES
ATLAS IRON LIMITED – ASX AGO, McALEESE LIMITED – ASX MCS, QUBE HOLDINGS LIMITED – ASX QUB, MACA LIMITED – ASX MLD, WESTERN ASSET MANAGEMENT COMPANY, FORTRESS INVESTMENT GROUP LLC, SANKATY ADVISORS LLC, MARATHON ASSET MANAGEMENT LIMITED

Atlas strikes deal to get Mt Webber mine going

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Original article by Tess Ingram
The Australian Financial Review – Page: 16 : 3-Jun-15

Atlas Iron expects to resume production at its Mt Webber iron ore mine in Western Australia in July 2015. Atlas has secured a new deal with mining contractor BGC Contracting, which will be paid both cash and shares, although the value of the deal will be linked to Atlas’s proposed capital raising. Atlas previously struck new deals with other contractors, including McAleese. Atlas anticipates that Mt Webber’s break-even price will be $US50 when mining resumes. Annual production is slated to be six million tonnes.

CORPORATES
ATLAS IRON LIMITED – ASX AGO, BGC CONTRACTING PTY LTD, McALEESE LIMITED – ASX MCS, MACA LIMITED – ASX MLD, QUBE HOLDINGS LIMITED – ASX QUB, MOODY’S INVESTORS SERVICE INCORPORATED

Fortescue CFO hits back at Vale

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Original article by Perry Williams
The Australian Financial Review – Page: 15 & 20 : 1-Jun-15

The break-even price for iron ore producer Fortescue Metals Group was about $US60 per tonne in late 2014, but the group aims to reduce this to $US41 during the next three months. CFO Stephen Pearce says Fortescue expects its break-even price to fall slightly below that of Brazilian rival Vale in the near-term. He has also rejected suggestions by the China Iron & Steel Association’s Li Xinchuang that Fortescue will need to take on an equity partner.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA, CHINA IRON AND STEEL INDUSTRY ASSOCIATION, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, DEUTSCHE BANK AG, MINERALS COUNCIL OF AUSTRALIA

It’s ‘inevitable’ Fortescue will need a Chinese equity partner

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Original article by Perry Williams
The Australian Financial Review – Page: 17 & 22 : 28-May-15

The China Iron & Steel Association’s deputy secretary Li Xinchuang believes that Fortescue Metals Group will eventually need an equity partner in order to be globally competitive. He argues that a Chinese partner would make sense for Fortescue, and notes that the iron ore producer’s high level of debt could become a problem unless it takes on an equity partner. Fortescue CEO Nev Power has stressed several times that an equity partner is not on the group’s agenda.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, CHINA IRON AND STEEL INDUSTRY ASSOCIATION, CHINA METALLURGICAL INDUSTRY PLANNING ASSOCIATION, SHANGHAI BAOSTEEL GROUP CORPORATION, CITIC LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, VALE SA, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO

Haoma Mining protects itself from Atlas Iron’s woes

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Original article by Tess Ingram
The Australian Financial Review – Page: 16 : 10-Apr-15

Australian-listed Haoma Mining has put a caveat on two of Atlas Iron’s iron ore tenements in the Pilbara region of Western Australia. Haoma holds the exploration rights for non-iron ore minerals, and chairman Gary Morgan says the group wanted to protect its interests should Atlas sell the tenements. Shares in Atlas Iron were placed in a trading halt in early April 2015, pending a review of its operations

CORPORATES
HAOMA MINING NL – ASX HAO, ATLAS IRON LIMITED – ASX AGO, BC IRON LIMITED – ASX BCI

Rinehart blames high costs on government

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Original article by Julie-Anne Sprague
The Australian Financial Review – Page: 19 & 24 : 12-Mar-15

Billionaire Gina Rinehart says high labour costs have a bigger impact on the profitability of Australian mining companies than low commodity prices. She stated on 11 March 2015 that the regulatory burden is too heavy and costly for companies. Roy Hill Holdings CEO Barry Fitzgerald revealed that the company had to seek more than 4,000 approvals for its iron ore mine in the Pilbara region of Western Australia

CORPORATES
ROY HILL HOLDINGS PTY LTD, POSCO AUSTRALIA PTY LTD, MARUBENI AUSTRALIA LIMITED, CHINA STEEL AUSTRALIA LIMITED, CLIFFS NATURAL RESOURCES INCORPORATED, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, VALE SA, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET