{SPAC}IRON MINES AND MINING – WESTERN AUSTRALIA

Rinehart shakes up Hancock leadership

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Original article by Brad Thompson
The Australian Financial Review – Page: 17 : 7-Dec-22

Hancock Prospecting has unveiled changes to the leadership structure of its core iron ore business that will take effect from 30 January. The dual CEO structure for Roy Hill and Atlas Iron will be abolished, with Roy Hill CEO Gerhard Veldsman to assume responsibility for Hancock’s entire iron ore operations. Atlas Iron’s current CEO Sanjiv Manchanda will take up a new role as CEO of growth projects at Hancock, while Roy Hill’s inaugural CEO Barry Fitzgerald will become technical director for iron ore.

CORPORATES
HANCOCK PROSPECTING PTY LTD,{SPAC}ROY HILL HOLDINGS PTY LTD,{SPAC}ATLAS IRON LIMITED

Latest results show Fortescue has finally become unshakeable

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Original article by Tess Ingram
The Australian Financial Review – Page: 13 & 22 : 29-Aug-16

Fortescue Metals Group’s free cash flow increased by 93 per cent in 2015-16, to $US2.7bn, while its debt was slashed by $A2.9bn. Fortescue’s production cost averaged $US50 per tonne several years ago, but this was reduced to $US13.10 in June 2016 and the group aims to further reduce this in 2016-17. A number of factors have contributed to the reduction in production costs, such as the lower Australian dollar, the fall in the crude oil price, increased production and a significantly lower strip ratio.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG,{SPAC}VALE SA,{SPAC}PATERSONS SECURITIES LIMITED,{SPAC}CITIGROUP PTY LTD,{SPAC}MORNINGSTAR PTY LTD,{SPAC}MACQUARIE GROUP LIMITED – ASX MQG