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Mijnen,Rio...bhp

1. voda 9 maart 2016 17:26

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   Mining executives warn that iron ore price rally won’t last
   
   The Australian reported that the eye-popping surge in iron ore prices that underpinned a wave of buying support for the previously unloved iron ore miners is likely to be short-lived, the industry’s senior leaders have warned. Iron ore executives cautioned against seeing the rally as anything more than an aberration.
   
   Speaking on the sidelines of the Global Iron and Steel Forecast conference in Perth yesterday, BHP Billiton’s recently appointed head of Australian mineral operations, Mike Henry, said the company’s views on the long-term outlook for iron ore was unchanged in the wake of the rally. He said “What we saw happen in price on Monday wasn’t reflective of underlying strong uptick in steel production or iron ore demand; it was based on market sentiment and market expectations around what was going to happen. If the mid to long-term outlook plays out as we expect it to, you will see a flattening of the cost curve, lower prices, and high-cost tonnes will respond accordingly as they have by leaving the market.”
   
   Mr Henry’s thoughts were echoed by Barry Fitzgerald, chief executive of Gina Rinehart’s Roy Hill Holdings, operator of the new 45 million-tonne-a-year Roy Hill mine in the Pilbara. He said “I was talking to my staff last week and said I was expecting the iron ore price to decrease, so it was a very unexpected surprise. My personal view is that the future does hold some lower points and I think it’s an aberration.”
   
   Source : The Australian

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2. voda 10 maart 2016 17:12

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   Mr Andrew Forrest pushes for investigation into BHPB and Rio
   
   Sydney Morning Herald reported that Fortescue Metals Group chairman Mr Andrew Forrest has reignited his call for an investigation into an iron ore supply side strategy that has crushed the Australian economy.
   
   Speaking on the sidelines of the Global Iron Ore and Steel Forecast conference in Perth, Mr Forrest said an investigation into the iron ore price volatility, which he has been lobbying for since early 2015, was still warranted.
   
   Mr Forrest, joined by the heads of many smaller West Australian miners including Mr Goncalves, last year blamed major iron ore miners Rio Tinto and BHP Billiton for signalling overproduction to drive down prices and put smaller players out of business.
   
   BHP and Rio have defended their strategies by arguing cutting back production wouldn't be in their shareholders' interests as other suppliers around the world would fill the void.
   
   Source : Sydney Morning Herald
3. voda 16 maart 2016 13:40

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   Unsuccessful wage negotiations at Rio Tinto aluminium plant in Straumsvík
   
   A meeting between representatives of the workers at the Rio Tinto Alcan aluminium smelter in Straumsvík, South-West Iceland and Rio Tinto Alcan at the state negotiator's office was unsuccessful.The strike has been on since February 2th.
   
   "We were negotiating, talking to see if we could come to an agreement and when it was clear that we were not getting anywhere, Rio Tinto asked for a short break of five minutes and came back with a formal offer," says Gylfi Ingvarsson, representative of the aluminium factory workers. The offer has not been responded to yet.
   
   "It's clear that this offer set us back. To turn up for negotiations to find solutions and to keep an offer like this in their backpocket according to instructions from abroad, that's no way to find a resolution," said Ingvarsson. He adds that its very unlikely that the offer will be accepted.
   
   Source : Árvakur hf
4. voda 17 maart 2016 11:38

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   Mijnbouwer Rio Tinto krijgt nieuwe topman
   
   Gepubliceerd op 17 mrt 2016 om 09:08 | Views: 1.031
   
   LONDEN (AFN/BLOOMBERG) - Rio Tinto, het op een na grootste mijnbouwbedrijf ter wereld, heeft een nieuwe bestuursvoorzitter benoemd. Jean-Sébastien Jacques zal in juli het roer overnemen van huidig topman Sam Walsh, zo maakte Rio Tinto donderdag bekend.
   
   Jacques is nu nog topman van de koper- en steenkooldivisie van Rio Tinto. Walsh staat sinds januari 2013 aan het hoofd van de Brits-Australische mijnbouwonderneming. Vanwege de sterk gedaalde grondstofprijzen is het concern bezig fors te snijden in de uitgaven en kosten en wordt het dividendbeleid aangepast.
   
5. voda 21 maart 2016 17:10

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   BHPB improving our Environmental Management in Western Australia
   
   BHP Billiton Western Australia Iron Ore has lodged a Strategic Environmental Assessment (SEA) of its central Pilbara iron ore assets to contribute to the long term environmental planning and management of its operations. The SEA is the first of its kind in the Australian mining industry and gives an overview of the regional environmental footprint of all of the Company’s current and potential future Pilbara-based iron ore operations.
   
   BHP Billiton Western Australia Iron Ore Asset President, Edgar Basto said the Company had been operating in the Pilbara for almost 50 years and understood the environmental impacts of its operations in the region. He said “We are proud to be the first mining company to use our environmental knowledge to prepare and submit a Strategic Environmental Assessment in Australia which could help build a long-term sustainable future for not only WAIO, but also the Western Australian community.”
   
   Mr Basto said “The SEA provides greater visibility of our potential environmental footprint over the next 50 to 100 years, improving our ability, as well as the Government and others in the industry, to plan for future operations. It outlines where we may develop in the future so any potential impacts on the environment can be assessed and adequately managed for future generations.”
   
   Mr. Basto said the Company would still be required to work with relevant departments to ensure necessary approvals were sought for individual projects, but the SEA takes a look at the Company’s environmental plan over the long term in a more considered and complete way.
   
   He said “Previously, we worked through the approval process for individual projects in isolation. We can now look at how future developments may interact and think about what we need to do to manage any impacts in advance. It gives the Company, industry, the community and regulators a more comprehensive understanding of the region, which ultimately helps everyone to more effectively manage our natural resources. It’s about being transparent in our future plans and recognising that environmental impacts are not confined to one particular mining project and should be looked at more holistically.”
   
   The SEA will be made public and open for comment from 21 March 2016 and Mr Basto said the Assessment would provide a readily available source of environmental information for others to draw on.
   
   The SEA will be submitted to both the Commonwealth and WA State Governments for their endorsement.
   
   Decisions on production volumes and the development or execution of further greenfield or expansion projects remain independent commercial decisions that are separate from the SEA.
   
   Source : Strategic Research Institute
6. voda 15 april 2016 17:08

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   Rio Tinto drops plan to revise supplier terms
   
   Rio Tinto PLC RIO has abandoned plans to double the length of its payment terms with suppliers, a move aimed at freeing up cash amid a market downturn, following backlash from contractors and politicians.
   
   The company said on Saturday it would transition to longer payment terms that could have led to suppliers waiting up to 90 days to be paid, from 45 days currently. The new policy was intended to apply to all suppliers with contracts of more than 3 million Australian dollars (US$2.3 million) each.
   
   The move prompted an outcry. Speaking to Australia’s public radio broadcaster on Tuesday, Brendon Grylls, a lawmaker in Australia’s Nationals party, described the proposed move as “blatantly unfair.” Prime Minister Malcolm Turnbull said he would speak to Rio Tinto after concerns were raised with him by mining suppliers in Western Australia state, home of Rio Tinto’s vast iron-ore mining hub.
   
   On Thursday, the miner backtracked on the plan.
   
   A spokesman said that “We value our partnerships with our suppliers and their feedback, so we have taken the decision to maintain our payment terms for those suppliers with contracts in place, as they were at March 30.”
   
   Rio Tinto, which has been grappling with a sharp fall in the value of its commodities, including iron ore, swung to an annual loss in 2015, as it wrote down the value of assets in places including Australia, Canada and Guinea.
   
   Source : MarketWatch
7. voda 19 april 2016 17:06

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   Rio Tinto ziet productie stijgen
   
   Mijnbouwer wel last van volatiele grondstofprijzen.
   
   De Britse mijnbouwreus Rio Tinto heeft in het eerste kwartaal van 2016 betere productieresultaten gepresenteerd dan een jaar eerder. Dat meldt het bedrijf dinsdag voorbeurs in een trading update.
   
   Volgens topman Sam Walsh van Rio Tinto blijft de onderneming evenwel in alle markten last houden van volatiele grondstofprijzen.
   
   Rio Tinto zag de productie van verschillende grondstoffen in het eerste kwartaal van 2016 stijgen ten opzichte van dezelfde periode een jaar eerder. Onder meer de productie van aluminium steeg in het eerste kwartaal met 10 procent ten opzichte van een jaar eerder. De productie van koper daalde evenwel met 2 procent.
   
   De productie van ijzererts wereldwijd steeg met 13 procent naar 84 miljoen ton, waarvan de mijnen van de Australische regio Pilbara een productie realiseerden in het eerste kwartaal van 79,9 miljoen ton.
   
   
   Door ABM Financial News. Info@abmfn.nl: +31(0)20-26 28 999
8. voda 20 april 2016 16:24

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   BHP Billiton produceert minder ijzererts
   
   Ook de koperproductie is gedaald in eerste negen maanden van het gebroken boekjaar.
   
   Mijnbouwer BHP Billiton verwacht in de loop van het huidige boekjaar minder ijzererts te produceren. Dit meldde het bedrijf woensdag in een productie-update over de eerste negen maanden van het gebroken boekjaar.
   
   Na een daling van de ijzerertsproductie in het fiscale derde kwartaal verwacht de Brits-Australische mijnbouwer dat de ijzerertsproductie in het boekjaar, dat loopt tot eind juni, zal uitkomen op 229 miljoen ton, waar eerder nog werd uitgegaan van een productie van 237 miljoen ton.
   
   Daarnaast meldde BHP Billiton dat de wereldwijde productie van ijzererts in de eerste drie maanden van 2016 op kwartaalbasis met zeven procent is gedaald tot 53 miljoen ton. Ten opzichte van dezelfde periode een jaar eerder daalde de productie in het eerste kwartaal met 10 procent.
   
   De koperproductie daalde in de eerste negen maanden van zijn boekjaar met 8 procent ten opzichte van dezelfde periode een jaar eerder tot 1,2 miljoen ton. In de eerste drie maanden van 2016, het fiscale derde kwartaal, steeg de koperproductie echter met 5 procent. Voor het volledige boekjaar voorziet de mijnbouwgigant een koperproductie van 1,5 miljoen ton.
   
   BHP Billiton kondigde tevens een exploratie-programma voor de divisie petroleum aan van circa 640 miljoen dollar om de "toekomstige groeimogelijkheden te onderzoeken", aldus het bedrijf.
   
   Door ABM Financial News. Info@abmfn.nl: +31(0)20-26 28 999
9. voda 20 april 2016 20:34

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   BHP Billiton update on iron ore segment for 9 month
   
   Total iron ore production for the nine months ended March 2016 was broadly unchanged at 171 Mt. Production for the 2016 financial year is now expected to be approximately 229 Mt, three per cent below prior guidance, and reflects a reduction in guidance at WAIO.
   
   WAIO production for the nine months ended March 2016 increased by two per cent to a record 193 Mt (100 per cent basis) and reflected the Jimblebar mining hub operating at full capacity and improved ore handling plant utilisation at Newman. This was partially offset by one-off operational issues in the December 2015 quarter, along with the impact of adverse weather conditions and the initiation of an accelerated rail network maintenance program in the March 2016 quarter. WAIO production of approximately 260 Mt is now anticipated for the 2016 financial year, four per cent below prior guidance, however unit cost guidance remains unchanged at US$15 per tonne.
   
   Our WAIO business remains focused on productivity in our integrated supply chain and this is further supported by the 24 month rail renewal and maintenance program that has been initiated. These improvements in our supply chain along with the ramp-up of additional capacity at the Jimblebar mining hub, will deliver an increase in system capacity to 290 Mtpa over time.
   
   Samarco production for the nine months ended March 2016 was 11 Mt (100 per cent basis). Mining and processing operations at Samarco remain suspended following the failure of the Fundão tailings dam and Santarém water dam on 5 November 2015. Sales from the final shipment of pellets from stockpiles will be settled in the June 2016 quarter.
   
   Source : Strategic Research Institute
10. voda 20 april 2016 20:35

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    BHP Billiton update on copper segment for 9 month
    
    Total copper production for the nine months ended March 2016 decreased by eight per cent to 1.2 Mt as continued strong operating performance across the business was offset by grade decline at Escondida, as anticipated. Guidance for the 2016 financial year remains unchanged at 1.5 Mt.
    
    Escondida copper production for the nine months ended March 2016 decreased by 20 per cent to 711 kt, despite an 18 per cent increase during the March 2016 quarter. Strong operating performance, including improvements in truck availability, utilisation and maintenance, and record material mined, was more than offset by a 28 per cent decline in grade. Production increased by 18 per cent from the December 2015 quarter as higher concentrator throughput was achieved as a result of improved water availability. The Escondida Bioleach Pad Extension project, which includes the expansion of the leach pad to four layers, was completed as planned during the March 2016 quarter.
    
    Production guidance for Escondida remains unchanged at approximately 940 kt for the 2016 financial year as the ramp up of Organic Growth Project 1 progresses ahead of plan and is expected to reach full capacity in the June 2016 quarter. The Los Colorados concentrator was placed on care and maintenance in the March 2016 quarter. In the medium term, completion of the Escondida Water Supply project and the potential life extension of Los Colorados will enable the utilisation of three concentrators(2).
    
    Pampa Norte copper production for the nine months ended March 2016 decreased by three per cent to 186 kt as record ore milled at Spence and Cerro Colorado, and higher grades at Spence, were offset by the impact of planned maintenance at Spence and industrial action at Cerro Colorado in the March 2016 quarter. Production at Pampa Norte for the 2016 financial year is expected to be ahead of the prior year. In the short to medium term, the Spence Recovery Optimisation project will enable the full utilisation of approximately 200 ktpa of tankhouse capacity. The Spence Growth Option remains in feasibility with the potential to extend mining operations by more than 50 years and increase copper capacity by approximately 200 ktpa.
    
    Olympic Dam copper production for the nine months ended March 2016 increased by 46 per cent to a record 162 kt and reflects improved smelter and mill utilisation, and the Svedala mill outage in the prior period. Copper production decreased by 13 per cent from the December 2015 quarter following planned mill maintenance. Olympic Dam copper production remains on track to exceed 200 kt for the 2016 financial year with planned smelter maintenance scheduled for the June 2016 quarter.
    
    Antamina copper production for the nine months ended March 2016 increased by 35 per cent to 108 kt as higher grades and recoveries, supported by record material mined and milled, more than offset the impact of planned maintenance in the March 2016 quarter. Antamina copper production of 136 kt is forecast for the 2016 financial year.
    
    Source : Strategic Research Institute
12. voda 20 april 2016 20:35

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    BHP Billiton operational review for 9 months
    
    On track to deliver an average unit cost improvement of 14% across our major assets as productivity gains co tinue to be realised
    
    Full year production guidance aintained for Petroleum, Copper and Coal
    
    Guidance at Wester Australia Iron Ore (WAIO) reduced by 10 Mt to approxiately 260 t (100% basis) as a result of adverse weather and the initition of an ccelerated rail network maintenace program
    
    In Petroleum, a US$640 million exploration program is now planned for the 2 016 financial year to fund additional access and testing of our future growth opportunities.
    
    Four major projects under development are tracking to plan. The Escondid a Bioleach Pad Extension project was completed as planned during the March 20 16 quarter.
    
    Petroleum (MMboe) 184 (4%)
    Strong Conventional performance offset by deferral of development activity in Onshore US
    
    Copper (Mt) 1.2 (8%)
    Increased throughput at Escondida and strong operating performance across the business partially offset lower grades at Escondida.
    
    Iron ore (Mt) 171 (1%)
    Record WAIO volumes offset by the sus pension of operations at Samarco.
    
    Metallurgical coal (Mt) 31 (1%)
    Record production at six Queensland C oal mines offset by the planned closure of Crinum
    
    Energy coal (Mt) 27 (10%)
    Unfavourable weather conditions at NS WEC and Cerrejón and divestment of the San Juan Mine.
    
    BHP Billiton Chief Executive Officer, Mr Andrew Mackenzie, said: “The productivity of our Company continues to improve notwithstanding the disruption largely caused by adverse weather this quarte r. Over the last 12 months, we have taken a number of steps to strengthen BHP Billiton, including as et sales an d the deferral of investment for long-term value. While these measures will reduce our output this year, they have increased our focus on our highest-quality operations and will support stronger margins and returns.”
    
    “We have the potential to significantly grow the value of our Company. Our simpler organisational structure will promote greater efficiency, rapid sharing of best practice and adoption of new technolo gy to deliver the next level of safe productivity. Debottlenecking our assets at very low cost will generate high returns and substantial value. We have a pipeline of projects in copper and oil that allow us to br ng high-margin volumes to market when the time is right. And as others cut back on exploration, our investment will go further and help create new options for the future.”
    
    Source : Strategic Research Institute
    
13. voda 21 april 2016 16:58

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    Productie Anglo American overwegend omlaag
    
    Gepubliceerd op 21 apr 2016 om 10:17 | Views: 1.527
    
    LONDEN (AFN) - Mijnbouwer Anglo American heeft in het eerste kwartaal zijn productie van de meeste grondstoffen verlaagd in verband met de sterk gedaalde prijzen. Dat maakte het bedrijf donderdag bekend.
    
    Zo zakte de productie van diamanten bij dochterbedrijf De Beers met 10 procent in vergelijking met vorig jaar. De productie van ijzererts bij de grote Kumba-mijn in Zuid-Afrika werd stevig verlaagd, evenals de steenkoolproductie. Wel werd iets meer platina en fors meer nikkel uit de grond gehaald. De koperproductie bleef onveranderd.
    
    Anglo American is bezig op grote schaal onderdelen te verkopen en duizenden banen te schrappen vanwege de moeizame marktomstandigheden in de mijnbouwsector.
    
14. voda 25 april 2016 19:57

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    Iron ore prices won’t be sustained - BHPB and Rio Tinto
    
    The Australian reported thatwhile a weaker US dollar and evidence of economic recovery in China has helped generate a massive rise in commodity prices and resources equities this year, the supply side of the equation is potentially still a concern for iron ore miners in particular, as is the sustainability of the debt-fuelled re-acceleration in China.
    
    Rio Tinto and BHP Billiton have both lowered their annual production targets this week, but while that appears to have contributed to the surge in iron ore prices and their share prices, neither company is cutting production because iron ore prices are too low for their liking.
    
    Executives from both companies continue to warn that these iron ore prices won’t last.
    
    BHP’s head of Australian operations, Mr Mike Henry, said that he did not think prices could be sustained because he saw more low-cost supply coming on to the market, and he expected steel demand in China to slow. He reiterated that on Bloomberg TV, saying iron ore could fall in the short-to-medium term, although its long-term outlook remained quite positive. Henry said he saw oil recovering quicker than other commodities.
    
    Rio Tinto’s CEO Mr Sam Walsh has warned earlier that iron ore prices could fall in the second half of 2016 on the back of a demand-supply imbalance. Bloomberg quoted Mr Walsh as saying that “I’ve said all along that we expect the iron ore prices will be volatile. That’s what we’re seeing.”
    
    Source : The Australian
    

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15. voda 24 mei 2016 16:14

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    Rio Tinto benoemt nieuw hoofd technologie en innovatie
    
    Greg Lilleyman vertrekt na 25 jaar.
    
    Rio Tinto heeft Stephen McIntosh benoemd tot hoofd van technologie en innovatie en opvolger van Greg Lilleyman. Dit meldde de mijnbouwer dinsdag.
    
    De Anglo-Amerikaanse mijnbouwer, de naar marktkapitalisatie gemeten op één na grootste mijnbouwer, gaf geen reden voor het vertrek van Lilleyman. De bestuurder verlaat Rio Tinto na een dienstverband van 25 jaar.
    
    McIntosh is al bijna dertig jaar verbonden aan Rio Tinto met projecten in meer dan 45 landen. De meest recente functie van de nieuwbakken bestuurder voor technologie en innovatie was als hoofd van exploratie, waar McIntosh een team van 450 mensen leidde in twintig landen.
    
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16. voda 13 juni 2016 17:04

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    Brazil Dam Burst - Police investigation finds BHP-Vale JV ignored risk of collapse
    
    ABC reported that Brazil's federal police have formally accused mining company Samarco, a JV between Vale SA and BHP Billiton, of wilful misconduct in relation to a deadly dam burst last November.
    
    The official police investigation said the company had ignored clear signs the dam was at risk of collapsing. The case will now be passed to prosecutors to decide whether to press charges.
    
    The investigation found Samarco had skimmed on safety spending, focusing instead on increasing production despite obvious indications, like cracks, that the dam was in danger of a breach.
    
    Four Corners reveals evidence of problems at the mine dating back almost a decade.
    
    Police also accused Vale — because it deposited its own mining waste into the dam — and VogBR, the service company that checked the safety of the dam, of wilful misconduct.
    
    Eight executives were also accused, although police did not disclose their names.
    
    Samarco in a statement said that it rejected any speculation it was aware of an imminent risk of collapse at the dam, which held waste — known as tailings — from its iron ore mine.
    
    The company said that "The dam was always declared stable," adding that increases to the dam's size were done in accordance with the project's design.
    
    It said that the dam's height was below the size allowed by its licensing when it collapsed.
    
    Meanwhile, all of the accused, excluding one individual, were first informed by the police in January.
    
    Source : ABC

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17. voda 22 juni 2016 16:16

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    BHP Billiton gaat olieproductie opvoeren
    
    Hogere olieprijs zorgt voor in gebruik nemen putten.
    
    BHP Billiton is begonnen met het in productie nemen van reeds geboorde oliebronnen in Texas en is van plan nieuwe bronnen aan te boren als de olieprijs boven de 50 dollar per vat blijft noteren. Dit meldde CEO Andrew Mackenzie van de energie- en mijnbouwgigant dinsdag.
    
    BHP neemt "een aantal" geboorde maar nog niet in productie genomen putten van het Black Hawk-olieveld in Texas in gebruik, zei Mackenzie. Daarnaast heeft het bedrijf circa 1.400 putten in bezit, die met een olieprijs onder de 60 dollar per vat winstgevend zouden zijn, meldde het bedrijf tijdens een presentatie in mei.
    
    "Maar we zijn behoorlijk kritisch over wat we willen investeren", aldus Mackenzie, eraan toevoegend dat het bedrijf meer is gericht op het verbeteren van de balans en het uitkeren van dividend. In februari verlaagde BHP het dividend met maar liefst 74 procent tot 0,16 dollar per aandeel.
    
    De bloeiende schalie-olie-productie in de Verenigde Staten was een belangrijke reden voor de daling van de olieprijzen sinds half 2014. Olieproducenten sneden vanwege de enorme prijsdaling in hun investeringen. De olieproductie in Amerika daalde echter langzamer dan de meeste beleggers hadden verwacht, omdat producenten in staat bleken in de kosten te snijden en de efficiëntie te verhogen.
    
    Veel producenten kozen er de afgelopen twee jaar voor om reeds geboorde putten niet in gebruik te nemen en te wachten op een herstel van de prijzen. Aangezien de olieprijzen de afgelopen maanden zijn gestegen, van minder dan 30 dollar naar meer dan 50 dollar per vat, overwegen een aantal producenten de ongebruikte putten in productie te nemen. Bovendien is het aantal operationele boorputten drie opeenvolgende weken gestegen, meldde oliedienstverlener Baker Hughes. Dit is wel een signaal dat het wereldwijde overaanbod vermoedelijk in stand blijft.
    
    Door: ABM Financial News.
    
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18. voda 22 juni 2016 16:54

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    BHP joins remote revolution drilling across its Pilbara iron ore mines
    
    The West Australian reported that BHP Billiton has taken a major step in the march to automated mining by rolling out remotely operated drilling across its Pilbara iron ore mines.
    
    The resources giant has begun the staged introduction of autonomous blasthole drills after about 15 months of trialling at its Yandi mine.
    
    Twenty retrofitted drills across five mine sites will be controlled from BHP’s integrated remote operation centre at its Perth headquarters by July next year. It says the move will increase drill capacity by one-third.
    
    Mr Edgar Basto, WA iron ore asset president, said that the trial had hit the targets of BHP’s business case for the switch.
    
    Mr Basto said that “We decided to go and press the button and go to operations. We’re quite pleased with the way the technology’s working.”
    
    He said that the Atlas Copco technology would make operations safer and cut costs by about 27 per cent. There are no job losses but we are moving people to other areas.
    
    However, twenty-nine people would be based in Perth and a similar number in the field. There were now about 100 manual operators for both blasthole and contour drilling.
    
    BHP said that the converted Pit Viper 271 drills would initially be controlled at the mine site before switching to Perth around the end of the year.
    
    Mr Dustin Penn, Atlas Copco business line manager drilling solutions, said that “We delivered our autonomous drilling technology to BHP as basically an off-the-shelf product and collaborated with BHP to implement that into their Pilbara application.”
    
    BHP has also been trialling 12 driverless haul trucks at its Jimblebar mine. Mr Basto said that program was making good progress and would be assessed at year’s end.
    
    Mr Penn said that the miner was not considering driverless trains but instead was advancing rail signalling technology. BHP is playing catch-up on automation to rival Rio Tinto, which introduced its first self-driving haul truck about eight years ago.
    
    Mr Andrew Harding, Rio Tinto iron ore chief executive, said that autonomous drills were 10 per cent more productive than their manual equivalent and cut 8 per cent from operational costs.
    
    Source : The West Australian
    
19. voda 5 juli 2016 17:00

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    Rio Tinto shelves USD 20millon Guinea iron ore project
    
    The company's new Chief Executive Mr Jean-Sebastien Jacques said in an interview with The Times newspaper that Rio Tinto has shelved its $20 billion Simandou iron ore project in Guinea because of a sustained slump in prices.
    
    Simandou would have provided Rio Tinto access to one of the world’s largest untapped high-grade iron ore resources, and was expected to sustain a mine life in excess of 40 years.
    
    The world's second biggest miner by market capitalization had been seeking financing for Simandou, even after a $1.1 billion writedown on the project in February. Last month the Anglo-Australian company submitted a feasibility study to the Guinean government.
    
    But global oversupply of iron ore made the project inviable at this time, Jacques told The Times.
    
    However, Simandou would have comprised an iron ore mine in central Guinea, a 650-kilometer (404-mile) railway and a deepwater port on the West African country's Atlantic Coast.
    
    Rio said that the project would generate about $7.5 billion in revenues and add $5.6 billion to Guinea's GDP, making Guinea the fastest growing economy in the world.
    
    Source : Maritime Executive

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20. voda 5 juli 2016 17:56

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    New Rio Tinto boss Mr Jacques signals end of iron ore wars
    
    Financial Review reported that Rio Tinto's new chief executive, Jean-Sébastien Jacques, has signalled the era of accelerated iron ore production is over with the world's second-largest exporter less concerned about chasing market share at a time when Chinese attempts to remove overcapacity from domestic steelmaking could take longer than expected.
    
    Mr Jacques, who formally replaced previous Rio boss Sam Walsh on Saturday, also played down the prospect of the London-based miner using its relative position of strength in the resources sector to embark on an acquisition spree, arguing prices paid for quality mining projects in 2016 were high despite the worst commodities downturn in decades.
    
    The 44-year-old Frenchman takes over the role at an uncertain time for iron ore - a commodity that accounted for 87 per cent of Rio's underlying earnings in 2015. Prices have gyrated in the past two years as miners controversially increased production while Chinese demand for the key-steelmaking ingredient cooled.
    
    Mr Jacques said that the financial turmoil following Britain's historic decision to leave the European Union did not support the case he should "diversify away from iron ore" through copper acquisitions because prices of key Rio commodities, with the exception of gold, all moved "the same way at the same time, more or less".
    
    He said that "The fundamentals of the industry are good. However, the market conditions are challenging because there is overcapacity, there is oversupply. We expect market conditions to remain challenging with a high level of uncertainty even before Brexit."
    
    Challenging market conditions appear to have contributed to a shift in strategy under Mr Jaques, who argues Rio should create "value" by focussing on productivity and operational improvements at its Pilbara operations rather than rapidly ramping up production at the expense of profit margins.
    
    The world's three largest seaborne iron ore producers - Rio, BHP Billiton and Brazil's Vale — have been accused of damaging the Australian economy, flattening prices and deliberately putting higher-cost producers out of business by ramping up production and announcing plans to add more than 110 million tonnes of extra annual capacity. Rio and BHP argued production cuts would not be in their shareholders' interests as other suppliers would fill the void.
    
    Mr Jacques indicated shareholders would be better served by increasing profits from existing production levels. In April, Rio said Pilbara production was expected to be between 330 million and 340 million tonnes in 2017 compared with previous guidance of 350 million tonnes "subject to final productivity and capital expenditure plans".
    
    He said that "It's about value and performance. It's not about volume. It's not about market share. Value will be what we are judged on."
    
    Rio's shift away from chasing volume reflects concerns that Chinese plans to reduce overcapacity by restructuring the domestic steel, coal and iron ore industries could be delayed. After meeting with Xiao Yaqing, chairman of China's State-owned Assets Supervision and Administration Commission, which oversees 106 Chinese government-owned companies, as well as big steel makers in China, Mr Jacques warned the process would be "very complicated".
    
    He added that "The pace of the restructuring is uncertain and that's important for us, because we when we look at all [Rio's] commodities, they all suffer from over capacity. I believe in the fundamentals but there is clearly uncertainty about the pace of restructuring in China."
    
    Around 40-50 per cent of Rio's revenues are derived from China, making it the company's most important customer.
    
    The iron ore price began the year at around $US40 a tonne before climbing to $US70 in April. The price has since retreated to around $US53 a tonne and Mr Jacques said he expected the price "to remain subdued in the short term, with material volatility".
    
    While Rio's competitors such as Anglo American, Freeport and erstwhile suitor Glencore are offloading assets or entering into joint ventures to reduce debt, Rio currently boasts one of the strongest balance sheets in the mining sector. The appointment of Mr Jaques, a relatively-young head of Rio's copper division, prompted speculation the Anglo-Australian mining house was preparing to target acquisitions.
    
    Source : Financial Review

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21. voda 19 juli 2016 15:17

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    Rio Tinto plans expansion of Mongolian mine Oyu Tolgoi
    
    IB Times reported that while mining giant Rio Tinto has shelved aside its $20-billion Simandou project in Guinea because of the huge iron ore overcapacity, it plans to expand the Oyu Tolgoi mine in Mongolia. The expansion plan comes amid reports on Tuesday that the mine’s copper and gold output declined.
    
    For the second quarter of 2016, copper production in concentrate went down to 51,700 tonnes compared with 55,300 tonnes for the same quarter in 2015. Gold production drastically was reduced to only 70,000 ounces in Q2 from 238,000 ounces in Q2 2015.
    
    With areas being mined for the second half of 2016 having reduced grades, Rio Tinto (ASX: RIO) expects lower gold production for the period, says Mr Jeff Tygesen, chief executive of Turquoise Hill, a subsidiary of Rio Tinto which owns the majority in Oyu Tolgoi. He says the lower production was expected because of reduced mining in Phase 2’s open pit.
    
    For Q3 and Q4 of 2016, Rio Tinto’s guidance for copper production is between 175,000 and 195,000 tonnes, while it is between 255,000 and 285,000 ounces of gold. But silver production logged an increase to 391,000 ounces compared to Q2 2015’s 297,000 ounces.
    
    Also, the giant miner reported lower shipment of iron ore of 80.9 million tonnes from the Pilbara region. Analysts’ expectation was 83.3 million tonnes.
    
    With its Q1 shipment of 80.8 million tonnes, it would be a challenge for Rio Tinto to meet its full year goal to ship 350 million tonnes of iron ore from its global operations. Iron ore prices slightly improved to US$56.86 (A$75.09) per tonne from the six-month average of US$52.16 (A$68.92).
    
    Source : IB Times

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