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Mijnen,Rio...bhp

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Pagina: «« 1 ... 25 26 27 28 29 ... 105 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 11 mei 2013 17:04
    Carlyle bids for Rio Tinto stake in Australian copper mine - Report

    Reuters reported that US private equity firm Carlyle Group has submitted a bid for Anglo Australian miner Rio Tinto's 80% stake in the Northparkes copper mine in Australia.

    Northparkes is one of several assets Rio Tinto is looking to sell as it seeks to pare USD 5 billion in costs and focus on its best assets to help protect its single-A credit rating in a weakened commodities market.

    Analysts have speculated Rio Tinto could fetch as much as USD 1 billion for the mine. BHP Billiton recently agreed a higher than expected price of USD 650 million for the sale of its Pinto Valley copper mine and a railroad in Arizona to Canada's Capstone Mining Corporation.

    Carlyle, which has no mine investments in Asia is the second private equity firm to be linked to the Northparkes stake following reports that KKR & Company was looking to bid. But KKR is no longer in the running. Private equity giants have so far typically shunned the sector, because of its exposure to the risky commodities cycle.

    Bankers and analysts see base metals miner OZ Minerals and Chinese controlled MMG Limited which is looking for assets between USD 1 billion and USD 7 billion to expand into one of the world's top diversified miners, as likely bidders for Northparkes.

    Source - Reuters
  2. forum rang 10 voda 11 mei 2013 17:08
    Rio Tinto expects China demand for iron ore to rise in 2013

    Global miner Rio Tinto expects that China's demand for iron ore to rise this year.

    Mr Alan Smith president of Rio Tinto Iron Ore Asia said that China's demand for steel is expected to rise at a compound annual growth rate of 3% in the next decade.

    Rio Tinto's iron ore sales to China were 147 million tonnes in 2012, a record total that Mr Smith expects to be beaten this year. China has imported the highest amount of iron ore in four months in April as greater steel production boosted demand.

    China imported 67.15 million tonnes of iron ore in April an increase of 16.4% from the same month last year. April imports rose 4% on month. It imported 253.6 million tonnes of iron ore in the first 4 months up 3.9% on year.

    Source - Reuters
  3. forum rang 10 voda 11 mei 2013 17:10
    Probe may spur race for USD 50 billion mine in Guinea

    Bloomberg reported that a corruption probe into how a group run by Israel’s richest person secured rights to a Guinea iron ore project is set to spark interest from rival companies looking to swoop on one of the world’s most valuable deposits.

    Mr Richard Knights analyst said that Rio Tinto Group may be interested in regaining the ground it lost in 2008 should licenses held by Beny Steinmetz’s BSG Resources Limited and Vale SA be revoked, Liberum Capital Limited.

    Mr Alpha Conde president of Guinea said that Guinea is seeking a way for Vale to resume work at Simandou.

    A joint US Department of Justice and Guinea investigation has led to the arrests of two BSGR executives in the African country and the detention of a French citizen indicted to stand trial in New York. At stake is untapped ore in the iron laden mountains of Guinea’s south east with an estimated value of USD 50 billion.

    Mr Paul Gait a mining analyst at Sanford C Bernstein Limited said that “It’s a prize worth fighting for. With an estimated 26.5 billion tonnes of iron ore resources the deposit is one of the most prospective in the world. All that it lacks is the infrastructure and the political stability to bring it to market.”

    BSGR said that allegations that there was anything improper about the manner in which BSGR obtained mining rights in Guinea are entirely baseless. It will defend its reputation and its mining rights in Guinea through whatever legal means prove necessary, including international arbitration, if the government of Guinea continues with its illegal efforts to expropriate BSGR's interests.

    Guinea’s rich iron ore deposits have been fiercely contested since the end of the last decade as mining companies sought to gain from prices pushed to near records by Chinese demand.

    Rio Tinto has so far spent USD 2.3 billion on its part of Simandou which it describes as having the potential to be Africa’s biggest iron ore mine. BHP Billiton Limited also has an iron ore project in Guinea.

    Source - Bloomberg
  4. forum rang 10 voda 11 mei 2013 17:11
    Mr Mackenzie takes over as CEO of BHP Billiton

    Mr Andrew Mackenzie is set to take over as CEO of BHP Billiton Limited promising to improve shareholder returns and focus on productivity amid commodity price fluctuations.

    Mr Mackenzie will spend his first day as chief executive at BHP's iron ore operations in the Pilbara, promising productivity improvements but no sudden changes in direction.

    He said that “Ultimately, we won't be changing much of it at all. We will probably just be even more clear that our future prosperity is going to be based on a small number of world class tier one orebodies. We are likely to invest less and therefore the principal way we intend to grow the returns from our business is by driving productivity.”

    Mr Mackenzie said that he is confident efforts to improve productivity, which might be seen by unions as cost-cutting measures, will not cause friction with BHP's workforce, adding that there is a new realism about the challenge to remain competitive.

    He said that he is confident that Asian markets will remain hungry for iron ore, representing a key growth market for the miner. The Chinese are looking a long time forward. It is a big responsibility that we, as the largest company, and the country has on its shoulders.

    Source - Business Spectator.com

  5. forum rang 10 voda 13 mei 2013 16:43
    Glencore Xstrata voert koperproductie op

    Gepubliceerd op 13 mei 2013 om 08:46 | Views: 1.362

    BAAR (AFN) - Grondstoffenreus Glencore Xstrata heeft zijn productie van onder meer koper flink opgevoerd in het eerste kwartaal. Dat blijkt uit productiecijfers die het concern maandag naar buiten bracht. Eerder deze maand werd de fusie tussen grondstoffenhandelaar Glencore en mijnbouwgroep Xstrata na een proces van 15 maanden officieel afgerond. Het bedrijf heeft een marktwaarde van 70 miljard dollar en is de op 3 na grootste grondstoffendelver ter wereld.

    De koperproductie uit eigen mijnen steeg met 18 procent op jaarbasis tot 321,800 ton. Uit bronnen van derden kwam daar nog eens 215.500 ton bij. De stijging is voor een deel te danken aan de mijnen in Afrika, die 44 procent meer produceerden voor een totaal van 83.600 ton.

    De productie van zink steeg mede dankzij de ingebruikname van een nieuwe mijn met 11 procent tot 147.700 ton. Glencore Xstrata haalde 32,7 miljoen ton kolen uit de grond, een stijging van 1 procent op jaarbasis.
  6. forum rang 10 voda 13 mei 2013 16:56
    Rio Tinto looks bullish on expansion plans

    The Age reported that Rio Tinto looks set to push ahead with USD 5 billion of expansion plans at its iron ore business in the Pilbara despite growing calls for the money to be redirected to shareholders.

    While confirmation of the expansion won't come until a board decision in the December quarter comments made at Rio's annual meeting of Australian shareholders suggest management is inclined to approve the project.

    The expansion would see Rio's iron ore exports rise from 290 million tonnes per year to 360 million tonnes per year and some commentators are concerned the extra supply could help force down iron ore prices.

    Mr Evy Hambro fund manager in control of the second biggest holding of Rio shares, BlackRock said that a cancellation or deferral of the expansion would be consistent with the culture of reducing costs and increasing shareholder returns that has been promised by Mr Sam Walsh CEO of Rio. He looked forward to meeting Rio's management team to further explore the exact dynamics behind that investment.

    Mr Walsh indicated expansion plans would remain on track so long as market conditions did not deteriorate significantly. We need to invest in the best projects, these need to be robust projects and in the Pilbara we do come with an advantage that we are the lowest cost producer proximate to the largest growth market China.'

    Mr Jan du Plessis chairman of Rio Tinto hinted he, too was inclined to allow more money to be spent in the Pilbara, saying the iron ore division would be given the capital they need despite a broader desire to diversify the company beyond its heavy reliance on iron ore.

    Source - The Age.com
  7. forum rang 10 voda 13 mei 2013 16:57
    BHP Mr Mackenzie has long to do list

    And so it begins. Mr Andrew Mackenzie's long wait to run a multinational corporation finally came to an end at a hot and dusty iron ore mine in Western Australia's Pilbara region. His first official day in charge of BHP Billiton came 79 days after his appointment but there is evidence he has been plotting this moment for much longer than that.

    If the 2001 manifesto he penned with colleague David Rice, ''Ethics and the Multinational Corporation is any guide his time as chief executive will be marked by a desire to use mining to deliver social and environmental progress, not to mention the occasional profit. But he will have to do so in a far more sober era than the one his predecessor Mr Marius Kloppers enjoyed.

    BHP now suffers the relative indignity of being Australia's second most valuable company by market capitalization. Its margins are under pressure from cooling commodity prices and rising costs and the millions of people who own the business are demanding more of its spare cash be returned to their pockets.

    Awaiting Mr Mackenzie's attention are a host of pressing issues and challenges many of which will demand huge portions of his time and the company's money.

    Here are just a few of the problems, challenges and opportunities that will cross his desk in the early months of his tenure.

    The Shale Spend;
    When BHP bought two lots of shale gas acreage in the United States during 2011, they committed to spending much more than just the USD 20 billion total purchase price. US shale will soak up about one third of BHP's total capital spending over the next five years, according to the plan mapped out by departing chief executive Mr Kloppers and departing petroleum chief Mr Mike Yeager. Mr Mackenzie has a big decision to make over whether to continue that ongoing capital spend, given the meagre returns coming from the division at present.

    BHP's shale business has been loss making in recent times, and the massive capital spend was designed to lift it up into a profitable position by financial year 2014. Mr Mackenzie's ego and reputation are less tied to the success of the shale division than his predecessor was and with shareholders screaming for better dividend flows he will be tempted to reduce spending on the division.

    Locking down Petrochina;
    A significant step in BHP's campaign to divest non-core assets was claimed in December when it signed a definitive agreement with Petrochina to sell its stake in the controversial Browse gas JV. The deal was supposed to deliver USD 1.63 billion of cash into BHP's coffers but five months later finalization of the agreement remains elusive. Petrochina is rumoured to be concerned that it is not getting the project it signed up for, since the JV decided in April to abandon plans to develop the project at James Price Point.

    The JV is investigating other ways to extract the gas and seems likely to use new floating technology developed by Royal Dutch Shell. That's likely to make the project cheaper and less offensive to environmentalists, yet Petrochina is thinking long and hard before it finalises the purchase. Mackenzie and his new petroleum chief, Tim Cutt, will be keen to complete the sale at the previously stated price within the next seven weeks.

    The mining tax;
    There are uncomfortable aspects to this old chestnut looming on the horizon. The Australian Tax Office is closely investigating the amounts paid to date by BHP and Rio Tinto to see if they have been correctly calculating their obligations. Given the highly complex nature of the tax, it is possible the Tax Office will ask the companies to pay more when final tax receipts are lodged. The second issue is how BHP will approach the mining tax if a Coalition government takes power. As one of the companies that helped create the minerals resource rent tax out of the ashes of Kevin Rudd's resource super profits tax BHP is awkwardly positioned as part creator and part critic of the tax.

    Opposition Leader Mr Tony Abbott has vowed to repeal the tax should he win power in four months' time, yet during a recent Senate inquiry BHP representatives conspicuously avoided answering questions as to whether the tax should be repealed. With yields from the tax far below what the Gillard government expected, Mr Mackenzie and the rest of the mining sector may find some of their other tax breaks under pressure in Tuesday's federal budget.

    The port;
    Despite widespread pessimism about the future of the iron-ore sector, the ancient deposits in the Pilbara are still BHP's biggest revenue-spinner by a comfortable margin. But the corporate landscape of this vast region is set to change in the first couple of months of Mackenzie's tenure.

    Iron ore rival Fortescue Metals Group is likely to open its railway line to third parties, and many expect to see Atlas Iron take advantage of the freer attitude towards sharing transport infrastructure. BHP will be an interested spectator on the process, not least because it will increase dramatically traffic through Port Hedland, where BHP is seeking to find more export capacity. Could that be why Mackenzie spent Thursday and Friday of this week inspecting BHP's iron ore port facilities, and the Yandi mine in the Pilbara?

    The next big thing;
    In BHP's world there are projects and then there are mega projects. The latter have been out of fashion over the past 18 months, as cooling commodity prices made big projects such as Olympic Dam look too difficult. Canada's Jansen potash deposit falls into the mega project category, but with an estimated USD 13 billion price tag, it only just makes the grade.

    For that reason it may be the first to reappear when the company's self-imposed freeze on approving big new projects thaws after June 30. Despite still being at the feasibility stage of planning, BHP's chief financial officer, Mr Graham Kerr, recently said Mr Jansen will probably come to the board next financial year. That means a busy 14 months of development work and perhaps, searching for a joint venture partner.

    The other side of the world;
    The United Kingdom has been BHP's second home ever since the 2001 merger with Billiton left the company a second listing on the London Stock Exchange. It also is where several of the company's biggest investors are based, including BlackRock's Evy Hambro, who controls the biggest holding in the company. Yet for the first time in many years, not a single member of the company's 11 person Group Management Committee' will be based there.

    Source - SMH.com
  8. forum rang 10 voda 14 mei 2013 16:57
    Glencore Xstrata production report for Q1

    Following the successful completion of the Glencore Xstrata merger on 2 May 2013, production information for Q1 2013 has been presented on a combined basis.

    Highlights

    1. Total own sourced copper production up 18% over the prior year.

    2. African copper own sourced production up 44% over the comparable period to 83,600 tonnes, with strong sequential quarter on quarter growth at Katanga and Mutanda.

    3. Strong ramp up in own sourced copper production at Antapaccay and Mount Margaret (Ernest Henry) following commissioning in H2 2012.

    4. Strong growth in own sourced zinc production from the Australian operations, up 11% to 147,700 tonnes, driven by higher volumes from Mount Isa, including the commissioning of the new Lady Loretta mine and the expansion project at McArthur River.

    .5. Koniambo generated first commercial grade ferronickel during April 2013, following line 1 furnace heat up during February 2013.

    6. Prodeco coal production up 19% to 5.0 million tonnes, reflecting the current expansion plan.

    7. Alen oil field development project in Block O Equatorial Guinea is nearing completion and remains on track for expected first production in Q3 2013.

    Source - Strategic Research Institute
  9. forum rang 10 voda 14 mei 2013 16:59
    Australian export finance group to fund Rio Mongolian mine expansion

    EBR reported that Australian Export Finance and Insurance Corporation have extended financial aid for Rio Tinto's USD 5.1 billion mine expansion in Mongolia.

    The funds were being raised by the company for its Oyu Tolgoi copper and gold mine located nearly 235 kilometers east of the Omnogovi province capital Dalanzadgad. Rio has stated that the company has secured about half of the funds for its billion dollar expansion plan that also includes funds from EFIC.

    Although EFIC spokesperson has not confirmed the amount it plans to lend, the group is known to finance tens of millions or hundreds of millions of dollars.

    The funding, which was reportedly pocketed from Australian taxpayers, comes amidst the growing pressure on the group to help small exporters rather than big companies such as Rio.

    Rio Tinto, nevertheless claimed that Oyu Tolgoi mine has the potential to account for half of the country's exports by 2019.

    Meanwhile, Mr Sam Walsh CEO of Rio said that the first production from the mine is scheduled before 30 June 2013. Copper production is expected to reach 450,000 tons per annum.

    Source - Energy-business-review.com
  10. forum rang 10 voda 14 mei 2013 17:03
    Rio Tinto ordered to pay old royalties to Wright and Rinehart families

    It is reported that Rio Tinto has been ordered to pay royalties expected to total about USD 200 million to Ms Gina Rinehart, Ms Angela Bennett and her brother Mr Michael Wright stemming from an iron ore agreement dating back to 1970.

    The Supreme Court ruled last Friday that Rio Tinto must pay Rinehart's Hancock Prospecting and its former partner Wright Prospecting royalties on production from two iron ore deposits in West Australia state's Pilbara region.

    Justice David Hammerschlag said that "WPPL and HPPL are entitled to be paid and Mount Bruce Mining is obliged to pay them, the royalty under the 1970 Agreement in respect of ore mined in Eastern Range and Channar."

    The Wright and Rinehart families, who have been bitter rivals in the past, sued Rio Tinto over the rights to iron ore beneath as much as 150 square kilometers of the Pilbara. They argued Rio owed them royalties dating back more than 20 years to an agreement struck on May 5, 1970 by Lang Hancock and Peter Wright. The agreement related to royalties from iron ore from the Channar mine and the Eastern Range mine. Since 1970 these areas have become highly profitable mines and Hancock has been credited as having discovered the massive iron deposits.

    Rio Tinto said that it was examining the judgment by the Supreme Court of New South Wales and considering its options.

    Source - theaustralian.com
  11. forum rang 10 voda 15 mei 2013 17:07
    Rio Tinto iron ore delivery dilemma - Mr Andy Home opinion

    Reuters reported that is a telling sign of the times when one of the world's largest lowest cost producers of a commodity has to defend its expansion plans to shareholders.

    Mr Jan du Plessis chairman of Rio Tinto said that the company will not be trapped into under investing in iron ore. He was responding to calls from investors such as BlackRock to slow down the pace of expansion at its Pilbara iron ore operations.

    In part this is symptomatic of the new age of austerity in the mining sector, with shareholders pushing for greater investment discipline in the face of slowdown in the Chinese engine room of industrial commodities demand. In part, though it reflects specific fears about the coming supply surge in the seaborne iron ore market.

    Source - Reuters
  12. forum rang 10 voda 16 mei 2013 16:52
    Rio Tinto scouts for spot copper concentrate for US plant

    Reuters reported that Rio Tinto Limited has started scouting the North American spot market for copper concentrate for its Kennecott copper smelter in Utah as it tries to recover from a devastating landslide at its nearby mine.

    Sources said that Rio has been forced to look for third party concentrate for Kennecott, its largest copper smelter and the second largest copper producer in the United States after a devastating landslide last month shuttered the company's nearby Bingham Canyon mine.

    Bingham supplies Kennecott with concentrate an intermediate product that smelters use to make refined metals. Rio restarted delivering ore to its concentrator on April 27, but it has warned it will lose 150,000 tonnes of mined output and 100,000 tonnes of metal due to the landslide. That is 92% of Kennecott's mined output last year and 61% of its metal production.

    According to early plans, the company wants to partially offset the loss of internal feed by buying 30,000 dry tonnes of third party concentrate each month from June until October. While that is not significant tonnage for the global concentrate market and Kennecott does sometimes use external feed, such large purchases over a prolonged period are rare. It supplements the small amount of concentrate they're producing themselves so the smelter can operate at a reduced capacity.

    A spokesman confirmed the company is looking for new concentrate supplies but declined to comment on contracts under discussion as they are commercially confidential. With reduced volumes, we have said that we would be seeking additional sources of concentrate for the downstream operations to supplement internal concentrate production.

    Source - Reuters
  13. forum rang 10 voda 16 mei 2013 16:53
    Rio Tinto on track to cut USD 2 billion costs this year - Mr Walsh

    Rio Tinto Group is on track to cut USD 2 billion in costs this year across its mining and corporate offices joining BHP Billiton Limited and Vale SA in trimming spending.

    Mr Sam Walsh CEO of Rio Tinto said that “I can tell you we are on track to save USD 2 billion in 2013. Rio’s coal unit in Australia alone has cut spending on goods and services by USD 370 million this year.

    Since Walsh 63 took over in January, Rio has announced plans to sell assets and reduce USD 5 billion of total costs as lower commodity prices cut revenue. Mr Walsh said the company was looking to make further assets sales beyond those announced after BHP’s new CEO Mr Andrew Mackenzie said he’s targeting an 18% cut in capital spending in fiscal 2014.

    Mr Walsh said that Rio is seeking savings of USD 750 million on mineral exploration spending this year adding that the company had the option of expanding its Australian iron ore operations at much lower capital intensity than by developing new mines.

    He said that we are targeting significant cash proceeds from divestments this year and are looking at further disposals of potential non core assets in addition to those we’ve already announced. The company had generated almost USD 14 billion selling assets over the past 5 years.

    Source - Bloomberg
  14. forum rang 10 voda 16 mei 2013 16:55
    Rio Tinto should press on with Pilbara - UBS

    UBS has trimmed its price target for Rio Tinto but remains a buyer of the mining heavyweight’s shares, despite doubts over its capital expenditure plans for the Pilbara iron ore operations.

    Rio has approved expenditure to lift port and rail capacity at Pilbara in Western Australia to 360 million tonnes per annum by the H1 of 2015 but some pundits are suggesting delaying this expenditure would free up USD 5 billion in capital which could be returned to shareholders.

    UBS calculated that our analysis suggests that a USD 5 billion buyback would result in 3.9% lift in 2014E EPS all else remaining equal but a 0.4% reduction in 2015E EPS. Our NPV without 360 but with a buyback is EUR 43.02ps, 4.4% below our current NPV. Return on capital is lifted in 2014/15E but is lower post 2015E due to reduced earnings.

    While it concedes a share buyback will give a short term lift to EPS, return on capital and the iron ore price the latter because it will see less capacity in the market it believes investors should also give thought to what a higher short-term iron ore price may do to the market.

    It said that a higher price is likely to see more infrastructure built, which will always carry iron ore. As such we believe the best course of action is for Rio to proceed with 360.

    Source - Proactive Investors

  15. forum rang 10 voda 17 mei 2013 15:24
    Australia approves Rio Tinto USD 1 billion bauxite mine

    Reuters reported that Australia approved miner Rio Tinto's USD 1 billion plus South of Embley bauxite mine and port project in Queensland after a year's delay due to concerns about ships harming the Great Barrier Reef.

    Mr Tony Burke environment minister of Australia said that the project on the Cape York Peninsula could go ahead subject to several strict conditions that will protect marine life and the Great Barrier Reef from shipping movements.

    The South of Embley project could produce up to 50 million dry product tonnes a year of bauxite which could supply the company's alumina refineries in Gladstone and Yarwun and boost Rio Tinto's bauxite exports.

    Major miners are looking to step up bauxite exports to China, whose appetite has risen sharply as it has boosted production of alumina. It takes four tonnes of bauxite to make two tonnes of alumina and one tonne of aluminium.

    Rio Tinto said that it would comment on the government's approval later on Wednesday. The Anglo Australian company has long said that it would only decide on whether to go ahead with the South of Embley project after receiving all government approvals.

    Source - Reuters
  16. forum rang 10 voda 17 mei 2013 15:32
    Global iron ore miners accelerate integration into China

    Vale
    In March this year, Vale CFO Luciano Siani signed a 100 million dollar worth contract with China Harbor Engineering Company Limited and Shanghai Zhenhua Heavy Industry Co Ltd to support expansion in iron ore expansion project in Carajas and coal expansion work in Mozambique.

    In the past five years, Vale had bought from China around 10 billion dollars of products and services and in the future, Vale said will enlarge purchases from China.

    Rio Tinto
    Over the past three years, Rio signed a lot of contracts with Chinese businesses like state run CNR Qiqihar Railway Rolling Stock Co., Ltd, Xiangdian Electric Manufacturing Group Co Ltd, Dalian Bihai Environmental Protection Equipment Co, Ltd, with purchase rising to 1.5 billion dollars in 2012 or 25.94% out of its net earnings in 2011.

    Rio Tinto has been increasing purchase from China since 2001. In 2011, Rio purchased more than 1 billion dollars from China, including USD 300 million of raw material, USD 200 million of chemical products and USD 500 million equipment purchase. In 2012, the purchased stayed at 1.7 billion dollars on raw material and equipment, or 9% of its global purchase. The figure will continue to increase in 2013, Ramsay Chu, head of the miner's procurement department was quoted by China Daily on January 12, who declined to elaborate.

    Equipment purchases from China would lower cost by at least 20% compared to purchases from other countries, Mark Rivers, General Manager Emerging Markets (China and India) at Rio Tinto, was quoted as saying.

    BHP
    BHP purchases in China would rise to 1 billion dollars in 2012, Dirk Van De Putte, BHP’s head of procurement said on December 15, 2011 in Shanghai, noting that the company "plans to spend USD 6 billion in China to purchase infrastructure facilities and consumables in the next five years.”

    In China, BHP’s annual purchase was not more than 100 million dollars in 2007, 800 million dollars in 2011.

    Source - www.steelhome.cn/en
    China steel information centre and industry database
  17. forum rang 10 voda 21 mei 2013 17:11
    Rio faces union push in iron ore

    The Age reported that two powerful Australian unions have joined forces to try to take on Rio Tinto at its iron ore mines where workers have not had union representation for around two decades.

    The Australian Workers' Union and the Construction, Forestry, Mining and Energy Union confirmed that they have put aside years of conflict and decided to launch a campaign to attract workers at the world No.2 iron ore miner's Western Australian mines.

    The push could pose a new challenge for Rio Tinto just as it is trying to cut USD 5 billion in costs across its operations amid a downturn in commodity prices and a clamour from shareholders to improve returns.

    In the mining sector, the CFMEU has largely been focused on coal mines on Australia's east coast, where it led a campaign against BHP Billiton in Queensland with rolling work stoppages hitting production at mines for more than a year until an agreement was reached in 2012.

    Mr Tony Maher mining and energy division president of CFMEU said that the AWU would also free up resources from the east coast, where it recently succeeded in winning rights for workers to bargain at Rio Tinto's Bell Bay aluminium smelter in Tasmania following an aggressive 2 year campaign.

    Mr Maher said that “The iron ore it's something that's been unfinished business for decades now. Rio's Pilbara mines and rail network are considered the most efficient in the world, helped by driverless trucks and trains run from a NASA like center, 1000 kilometers away in Perth.

    He said that "My experience is that employees want to be properly consulted and not just told, This is it. And they want to look at the safety considerations. A very big machine running around on their own does raise questions of safety."

    Source - The Age.com
  18. forum rang 10 voda 22 mei 2013 15:52
    BHP sells interests in Guinea alumina

    The Australian reported that there has been a change to BHP Billiton's long held plan to exit what was once trumpeted as USD 5.2 billion alumina development opportunity in bauxite rich Guinea.

    A plan in which BHP would have sold its one third stake to the original promoter of the alumina project, Canada's Global Alumina Corporation has been replaced with a deal under which the Middle Eastern partners in the project will pick up the stakes of BHP and Global Alumina.

    BHP confirmed that Dubai Aluminium and Abu Dhabi state owned Mubadala would be jointly acquiring its stake on undisclosed terms. Global Alumina was more forthcoming, saying the pair would be acquiring its matching stake at a cost of USD 38 million.

    Dubai Aluminium owns 25% of the project and Mubadala 8.33%. Although there has been no substantive work on the project since 2009 because of tough times in the aluminium industry, the BHP led JV did spend more than USD 700 million on preparatory work including moving two villages from the bauxite lease, building roads and bridges, clearing the site for the alumina refinery and export port upgrade work.

    Source - The Australian
  19. forum rang 10 voda 22 mei 2013 15:58
    Rio flags another step towards 360 million tonnes per annum

    The West Australian reported that Rio Tinto has opened up a new option for its push for a 360 million tonne a year Pilbara iron ore export rate, flagging a plan to double the size of its Western Turner Syncline hub to as much as 32 million tonne per annum.

    Developed as a feeder for its Tom Price operations, only 30km away, Rio is expanding WTS to be a 15 million tonne per annum producer. However, under plans ticked off by the Environmental Approval Authority Rio could more than double WTS to provide a potentially cheaper production option to developing new mines.

    A Rio spokesman said that no plans had yet been submitted to the company's investment committee or board. A corporate presentation released late last year put the development of the project's next stage by mid 2015, ahead of new mines at Silvergrass and Koodaideri. Rio's infrastructure is largely in place to reach a 290 million tonne per annum run rate and the company's board is due to make a decision by the end of the year on whether to push ahead with an expansion to 360 million tonne per annum.

    Investors have questioned the need for Rio to spend the estimated USD 5 billion to achieve its 360 million tonne per annum aim pointing to uncertainty in the global economy and the fact other miners led by BHP Billiton have shelved big ticket developments.

    Mr Sam Walsh CEO of Rio Tinto had multiple pathways to 360 million tonne per annum that included developing new mines or conserving cash and sourcing incremental tonnes from existing mines at much lower capital intensity.

    Source - The West Australian
  20. forum rang 10 voda 22 mei 2013 15:59
    Australia unions seek to re unionise Rio Pilbara iron ore mines

    Australian Mining reported that two of Australia’s largest unions will put aside their differences in an effort to re unionise Rio Tinto’s iron ore operations.

    The historic pact ends 30 years of hostility between the right wing Australian Workers Union and the left wing Construction Forestry Mining and Energy Union which officials concede helped the mining house build its non union fortress in Western Australia’s Pilbara The Australian reports.

    The newly forged alliance is aimed directly at Rio’s 15,000 non unionised workforce which is currently engaged in individual staff agreements, a strategy Rio has embarked on since the early 1990s.

    Mr Paul Howes AWU national secretary said that the alliance with the CFMEU's mining and energy division follows 30 years of demarcation and conflict which has been successfully exploited by the company to de unionise their operations. I have no doubt in my mind that disputes like Hamersley Iron and Robe River would not have been successful for the company had it not been for the fact that our two unions had been fighting.

    Mr Paul Howes said that "The reality is those sites which were de unionised were de unionised on the back of pretty nasty internal demarcation disputes . The only people that win out of demarcation disputes are the employers and that's what occurred in the North West. Thirty years of conflict between our two unions has paid enormous dividends for the employers at the expense of workers in that industry."

    The two unions' MoU is modelled on a 2003 alliance struck between the AWU and the Maritime Union of Australia that has resulted in the unions working together in an attempt to organize the offshore oil and gas sector.

    Mr Maher said that both unions have their work set out for them with a lot of history to overcome. The other thing you have got to bear in mind with the employees of Rio Tinto is a lot of them have never had a say in their wages and working conditions.

    Source – Mining Austraia.com

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