MINING CORPORATIONS – AUSTRALIA

Elliott lurks as BHP slumps on unification plan

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Original article by Peter Ker
The Australian Financial Review – Page: 13 & 18 : 19-Aug-21

BHP’s proposal to scrap its dual-listed structure has had a lukewarm reaction from Australian investors, with its local shares falling by seven per cent on 18 August. In contrast, BHP’s London-listed shares rose by four per cent in response to the proposal. Don Hamson of Plato Investment Management says this indicates that the Australian-listed shares’ traditional premium is being erased. BHP CEO Mike Henry contends that shifting to a primary listing in Australia will make the resources giant more efficient and agile. Activist hedge fund Elliott Management has previously pushed for the dual-listed structure to be abolished.

CORPORATES
BHP GROUP LIMITED – ASX BHP, PLATO INVESTMENT MANAGEMENT LIMITED, ELLIOTT MANAGEMENT CORPORATION

Vaccine targets essential: Roy Hill

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Original article by Nick Evans
The Australian – Page: 17 : 4-Aug-21

Roy Hill CEO Gerhard Veldsman addressed the annual Diggers and Dealers conference in Kalgoorlie on 3 August. He warned that the skilled labour shortage in Western Australia will continue while coronavirus-induced interstate travel restrictions remain in place. Veldsman also stressed the need for about 80 per cent of the nation’s population to be vaccinated, arguing that Australia risks falling behind the rest of the world. He added that the national cabinet’s latest four-stage plan to re-open the economy must include firm target dates for each of these stages.

CORPORATES
ROY HILL HOLDINGS PTY LTD, DIGGERS AND DEALERS FORUM

London judges backtrack to revive $9.43-billion Brazil dam lawsuit against mining giant BHP

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Original article by
abc.net.au – Page: Online : 28-Jul-21

BHP faces renewed legal action over the collapse of the Samarco iron ore tailings dam in Brazil in 2015, after London’s Court of Appeal ruled that a $9.4bn lawsuit can proceed. A lower court had struck it out the lawsuit by 200,000 claimants in 2020, ruling that the UK legal action was an abuse of process. The Court of Appeal had upheld this ruling in March. BHP has contended that the case should not proceed in the UK as the tailings dam disaster is also subject to legal action in Brazil.

CORPORATES
BHP GROUP LIMITED – ASX BHP, COURT OF APPEAL (GREAT BRITAIN), SAMARCO MINERACAO SA

BHP’s Tesla nickel deal a boost for carbon transition

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Original article by Brad Thompson
The Australian Financial Review – Page: 1 & 25 : 23-Jul-21

BHP has struck an agreement with electric vehicle maker Tesla to supply it with nickel from its mines and refinery in Western Australia. BHP’s chief commercial officer Vandita Pant said it was delighted to sign the agreement with Tesla, and noted that demand for nickel in batteries is tipped to rise by more than 500 per cent over the next decade. The agreement with Tesla has led to further speculation that BHP plans to divest its oil and gas assets, in addition to the sale of its remaining interests in energy coal mines.

CORPORATES
BHP GROUP LIMITED – ASX BHP, TESLA INCORPORATED

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

‘Legacy of sadness’: Glencore says sorry to traditional owners over NT mine as it seeks expansion

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Original article by Lorena Allam
The Guardian Australia – Page: Online : 7-Jul-21

Steven Rooney, the general manager of Glencore’s McArthur River mine in the Northern Territory, has appeared before a federal parliamentary inquiry into the destruction of ancient indigenous rock shelters at Juukan Gorge in Western Australia. He told the inquiry that Glencore has apologised to the traditional owners for the lead and zinc mine’s impact on cultural sites and the environment. Rooney also said that Glencore is in the early stages of negotiating a land use agreement with the traditional owners.

CORPORATES
GLENCORE PLC, McARTHUR RIVER MINING PTY LTD

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

No more welcome to country for Rio Tinto, Indigenous owners say

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Original article by Lorena Allan
The Guardian Australia – Page: Online : 6-Jul-21

The Eastern Guruma people have told Rio Tinto that they will no longer perform ‘welcome to country’ ceremonies at any of its events or any events that it sponsors. They have also refused to have any meetings with Rio Tinto for at least three months. The Eastern Guruma people are angry with Rio Tinto after it was revealed that priceless cultural materials rescued from their sacred sites were thrown in a rubbish tip in the 1990s, and that Rio did not tell them of the error. Forty per cent of Rio’s Pilbara mine holdings in Western Australia are on Eastern Guruma traditional lands.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Coal mine gets $175m federal loan

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Original article by Mark Ludlow
The Australian Financial Review – Page: 10 : 2-Jul-21

The $5 billion Northern Australian Infrastructure Facility has approved a $175 million loan to Pembroke Resources for its proposed Olive Downs coking coal mine in Queensland. The mine will support up to 700 jobs during its construction phase and over 500 jobs when it is up and running. Approval of the loan for the Olive Downs project comes only two months after federal Resources Minister Keith Pitt vetoed a $280 million loan by the NAIF for a wind farm project in North Queensland.

CORPORATES
NORTHERN AUSTRALIA INFRASTRUCTURE FACILITY, PEMBROKE RESOURCES PTY LTD, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES