MINING CORPORATIONS – AUSTRALIA

Trott faces a tough Rio agenda

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Original article by Brad Thompson
The Australian – Page: 13 & 19 : 16-Jul-25

Rio Tinto veteran Simon Trott will succeed outgoing CEO Jakob Stausholm on 25 August; other internal contenders had included chief commercial officer Bold Baatar and aluminium division boss Jerome Pecresse. Trott has been Rio Tinto’s head of iron ore for four years, and chairman Dominic Barton has praised his contribution to the flagship division; Trott in turn has praised Jakob Stausholm’s leadership and guidance since he replaced Jean-Sebastien Jacques as CEO in 2021. Trott’s immediate challenges in his new role will include Rio Tinto’s big investment in lithium during Stausholm’s tenure and its Oyu Tolgoi copper mine in Mongolia.

CORPORATES
RIO TINTO LIMITED – ASX RIO

BHP pay ruling leaves very wide grey zone

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 6 : 9-Jul-25

The Minerals Council of Australia has responded to the ‘same job, same pay’ ruling with regard to employees of BHP’s Operation Services division. The MCA says the the mining industry’s "worst fears" about the federal government’s industrial relations laws have been confirmed; it has also warned that there will continue to be "grey areas" regarding the application of the ‘same job, same pay’ laws. The Fair Work Commission’s former vice-president Graeme Watson says the wording of the legislation deliberately sets a low bar, and many more applications aimed at equalising rates of pay across worksites can be expected in response to this ruling.

CORPORATES
BHP GROUP LIMITED – ASX BHP, OPERATION SERVICES, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION

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

Fortescue pair strike gold with Greatland

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Original article by Brad Thompson
The Australian – Page: 13 & 15 : 2-Jul-25

Greatland Resources’ recent Australian sharemarket float has been a financial boon for chairman Mark Barnaba and deputy chair Elizabeth Gaines. Their stakes in Greatland are estimated to be worth about $10.3m and $5.4m respectively. Barnaba and Gaines are also directors of pure-play iron ore miner Fortescue; Wyloo, the private company of Fortescue’s founder Andrew Forrest, has an 8.2 per cent stake in Greatland, which is now dual-listed on the ASX and London’s AIM sub-market. A third Greatland director, Yasmin Broughton, was appointed to Fortescue’s board yesterday.

CORPORATES
GREATLAND RESOURCES LIMITED – ASX GGP, FORTESCUE LIMITED – ASX FMG, WYLOO METALS PTY LTD

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

Rio: D-day looms for Tassie smelter

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 29-Apr-25

The future of Rio Tinto’s aluminium smelter in Tasmania is under renewed scrutiny, with the plant’s electricity supply deal set to expire at the end of 2025. Rio Tinto has warned that the Bell Bay smelter could potentially be closed if the company fails to negotiate a new supply deal with the state-owned Hydro Tasmania; the smelter directly employs about 500 people. The future of Rio Tinto’s Tomago aluminium smelter in NSW is also uncertain, with its power supply deal scheduled to expire in 2028.

CORPORATES
RIO TINTO LIMITED – ASX RIO, HYDRO TASMANIA

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