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Mijnen,Rio...bhp

2.098 Posts
Pagina: «« 1 ... 26 27 28 29 30 ... 105 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 24 mei 2013 16:44
    Rio Tinto rejects bauxite mine shipping claims

    ABC reported that Rio Tinto Alcan has responded to claims a new bauxite mine on Queensland's Cape York would result in an additional 900 shipping movements.

    The mining company said that the claims from the Australian Marine Conservation Society are wrong and the South of Embley project would only have an extra 60 bauxite shipping movements at most. Bauxite from the development will be shipped to Gladstone for use in the alumina industry.

    Source - ABC.net
  2. forum rang 10 voda 27 mei 2013 15:37
    Rio Tinto starts off downsizing at its Utah mine

    Mining giant Rio Tinto has cut nearly 100 jobs at its Kennecott Utah copper mine and warned further positions will be slashed later this month to lower operating costs after a pit wall collapse inside Bingham Canyon in April.

    The company continues to take steps to reduce the impact on its workforce and doesn't yet have a figure for the total number of employees who will be affected.

    Mr Kyle Bennett spokesman of Kennecott said that "In order to make our business financially sustainable moving forward, we have to look at all costs, and unfortunately that also means people costs. The actions that we are taking today are a direct result of the slide on April 10."

    He said that the layoffs were permanent and that those affected can choose between using vacation time taking unpaid leave or retiring, the last with a one time USD 20,000 resignation incentive.

    He added that Kennecott, which estimates 2013 production will drop by half, is delivering ore from parts of the mine not impacted by the slide and is sending stockpiled low grade ore through the refinery process. There is some fluctuation but we are around the 50% mark we had estimated.

    Source - Mining.com

  3. forum rang 10 voda 28 mei 2013 16:38
    Rio Tinto start talks begin on reopening Bougainville mine

    ABC reported that formal talks are being held on the reopening of the Rio Tinto owned copper mine on Papua New Guinea's island of Bougainville. It is the first time landowners will be formally consulted about the mine's future.

    Rio Tinto's Panguna copper mine was the spark that lit the civil war but now it is being touted as the island's best chance for development.

    The Autonomous Bougainville Government is holding a series of Mining Forums to consult the island's population before starting negotiations for the reopening of the mine.

    Hundreds of landowners from the Panguna area are expected for the two day meeting in Arawa. The consultations come after 3 years of lead up talks and are part of a series of forums across the island. The government has held three previous mining forums.

    Mr Theresia Jaintong deputy chairperson of the Panguna and Affected Resource Owners Association said that many people in the community will be attending. All the landowners and all the Council of Elders, the chiefs, the women, the churches, the disabled, the youths, everybody will be there.

    He said that “It is the way forward for the Panguna mine to be reopened and also the people must speak. We will encourage them to speak positively about what they think and with a lot of common sense, looking into the future for the younger generation."

    Source - ABC.net
  4. forum rang 10 voda 30 mei 2013 17:44
    Rio Tinto HIsmelt pilot plant goes to China

    Rio Tinto’s HIsmelt pilot plant at Kwinana in Australia is to be dismantled and moved to China’s Shandong province.

    In 2011, an agreement was signed with India’s Jindal Steel & Power Ltd to relocated it to its steelworks at Angul, Odisha (Orissa), but this was cancelled as it involved making too many changes. The Chinese company Molong will develop the technology with Rio Tinto. Start-up of the 500,000 tonne per year pilot plant is planned for 2014.

    JSPL will still have an interest in developing the process and plans to build a larger 1 to 1.2 million tonne per year unit at Angul after the pilot runs in China. This is envisaged for construction in 2015, with production starting in the following year. The plant will be locally built with some components imported. A consortium has been formed by JSPL, the Chinese company and Rio Tinto and stakes in the pilot plant in China are now being worked out.

    Molong’s normal supply of liquid pig iron have been stopped for environmental reasons and it is not permitted to build a conventional blast furnace. HIsmelt is claimed to be the only technology capable of producing liquid pig iron at the required capacity and environmental standard.

    HIsmelt (High Intensity smelting) is a technology owned by Rio Tinto and is said to be ideal for India as it can directly use iron ore fines and noncoking coal, abundantly available in India. It is said to be environmentally friendly and more economical than traditional methods. However, it is not easy to stabilise a new technology, especially one that was not commercially proven, and one where there was a high cost of dismantling a plant and shipping it to India.

    Source - Strategic Research Institute
  5. forum rang 10 voda 30 mei 2013 17:48
    Rio Tinto seeks Q3 aluminium premium of USD 254 per tonne from Japan buyers

    Reuters reported that Rio Tinto Alcan has written to Japanese buyers asking for a premium of USD 254 per tonne over the LME cash price for July to September primary aluminium shipments.

    A source involved in quarterly pricing talks said that compares with average premiums of USD 248 per tonne to USD 250 per tonne in the previous quarter.

    Source -Reuters

  6. forum rang 10 voda 30 mei 2013 17:53
    BHPB sees India as significant driver of coking coal demand

    In a presentation made during BHP Billiton analysts’ briefing on its Coal business and tours of its Queensland Coal operations, it said “Industrialization and urbanization of China has underpinned strong global steel demand growth. Chinese crude steel production is expected to peak at ~1.1 billion tonnes by ~2025. Steel production growth in China is expected to moderate as steel intensity per unit of GDP declines. Pig iron growth rates will decline further as scrap use increases.”

    BHPB sees that growth excluding China is expected to be driven by India and, to a lesser extent, Latin America, the CIS and South East Asia although the Indian steel outlook is less certain as steel production growth has been slower than expected

    BHPB said “Long-term seaborne metallurgical coal demand will transition towards other emerging markets. China is expected to remain a significant importer, however much of China’s future demand growth will be met by domestic coals. Global metallurgical coal demand growth rates will moderate as demand transitions towards other emerging markets. India is expected to be the most significant source of new seaborne demand. Rest of world demand growth will be driven by Turkey and South East Asia. Limited growth is expected in developed markets such as Europe and Japan.”

    Source - Strategic Research Institute
  7. forum rang 10 voda 31 mei 2013 16:14
    Scrap usage in China will increase substantially - BHPB

    BHPB said

    1. Scrap availability in China is expected to quadruple from 2010 to 2030

    2. Increased usage of scrap in basic oxygen furnaces will see pig iron growth rates decline

    3. Electric arc furnaces are expected to contribute a significant share of total Chinese steel production by 2030.

    Source - Strategic Research Institute
  8. forum rang 10 voda 4 juni 2013 16:42
    Rio Tinto draws up shortlist for Canada iron ore sale - Report

    Reuters reported that Global miner Rio Tinto has received 13 to 15 initial bids for its majority stake in Canada's largest iron ore producer and has drawn up a shortlist of roughly half that number.

    Sources with knowledge of the situation said that along with rivals, Rio has promised to focus on its key assets and sell off non core operations as, it wrestles with USD 19 billion debt burden sluggish demand and weaker prices.

    Source said that the shortlist had been whittled down to 5 to 6 suitors after initial bids were submitted for Rio's 59% holding in Iron Ore Company of Canada last month.

    He said that it was unclear when binding bids would be due, as Rio was still seeking additional interest in the coming weeks from buyers including some of China's largest players, so far absent.

    Source - Reuters
  9. forum rang 10 voda 4 juni 2013 16:47
    Blackstone may bid for Rio Tinto unit - Report

    Mining reported that Glencore Xstrata and Blackstone may be close to bidding on Rio Tinto's 59% stake in Iron Ore of Canada.

    Blackstone is considered by some more likely to go ahead with the purchase as Glencore has its hands full integrating Xstrata.

    Rio put its stake in the Canadian company up for sale earlier in 2013. The company appointed investment banks Credit Suisse and CIBC to lead the sale of most of it shares in IOC. Sale of the stake is estimated to fetch roughly USD 1.7 billion.

    Source - Mining.com
  10. forum rang 10 voda 4 juni 2013 16:48
    Ms Rinehart biggest concerns as steel producers and steely resolve

    Gina Rinehart may still stand head and shoulders above the Rich 200 list with USD 22 billion fortune but there are signs that the forces that lopped USD 7 billion off her valuation this year are gathering momentum.

    The biggest variables in Rinehart’s valuation are the royalties and profits she receives from Rio Tinto’s iron ore mines in the Pilbara; she receives 1.25% of the revenue generated by Rio Tinto’s Hamersley Iron business and half of the profits from the Hope Down 1 and Hope Downs 4 mine both of which are also operated by Rio.

    Any movement in the price Rio receives for its iron ore, or the profit margins the mining giant can extract, affect the profitability of these mines and the cash that flows to Rinehart. In recent days, spot iron ore prices have fallen to about USD 112 on news that Chinese steel mills are destocking because of concerns about falling steel prices and oversupply in the market.

    Iron ore prices are now about 22% lower than the market quarter average of USD 145 per tonne and The Australian newspaper has estimated that based on annual production of Australia’s iron ore industry of 550 million tonnes, the lower price could wipe USD 18 billion off industry revenues for the year.

    No doubt Rinehart will be watching the iron ore price closely, given its impact on the Rio royalties and the business case for the mine she is trying to build on her own, Roy Hill.

    Rinehart’s other big worry has to be the progress of her court battle with her children Bianca Rinehart and John Hancock, who are fighting over control of a trust that holds a 23.4% stake in Rinehart’s mining giant, Hancock Prospecting.

    Source - Brw.com
  11. forum rang 10 voda 5 juni 2013 17:55
    Glencore said to study bid for Rio Canada iron ore operations

    Bloomberg reported that Glencore Xstrata Plc is studying a bid for the Canadian iron ore operations Rio Tinto Group is seeking to sell.

    People familiar with situation said that Glencore’s interest is at an early stage and there’s no certainty it will submit a formal bid.

    Rio hired Credit Suisse Group AG and Canadian Imperial Bank of Commerce to sell all or part of its 59% stake in Iron Ore Company of Canada. Deutsche Bank AG analysts valued the stake at USD 1.8 billion in a March 8 note.

    Iron Ore Company operations are located in Labrador City, Newfoundland and Labrador, Canada’s easternmost province. About a quarter of its output is shipped to steel mills in Asia, the Pacific region and the Middle East. Its owns 420 kilometer railway and port on the Gulf of St Lawrence.

    Glencore completed the all share USD 29 billion takeover of Xstrata Plc last month to add coal, copper, zinc and nickel mines to its commodities trading operations. The company invested in Brazil’s Ferrous Resources Limited in February, its first investment in a producing iron ore asset.

    Rio Tinto is seeking to dispose of more mining operations after selling more than 20 assets for USD 12 billion to help cut debt. IOC’s reserves are sufficient for more than 20 years at current production rates.

    Source - Bloomberg
  12. forum rang 10 voda 6 juni 2013 16:40
    Rio Tinto seeks final bids for copper mine in June

    Reuters reported that Rio Tinto Limited is seeking final bids for its majority stake in the Northparkes copper mine in Australia this month with at least two bidders expected to be in the running.

    People familiar with the process said that the 80% stake in Northparkes is one of several assets Rio has put on the block with new CEO Mr Sam Walsh aiming to raise what he has called significant cash proceeds to cut debt and protect the global miner's single-A credit rating.

    OZ Minerals Limited and China's MMG Limited are expected to submit final bids for the stake that Rio hopes could fetch around USD 800 million.

    People said that Rio is keen to complete the bid process by the end of June. Its other, larger assets up for sale, including majority stakes in Iron Ore Company of Canada and Coal & Allied in Australia are seen as more difficult to sell in a volatile commodities market in which trade buyers have become cautious and capital has dried up.

    OZ Minerals needs production to fill a gap between declining output at its Prominent Hill mine and the ramp up of its Carapateena mine and it would give it experience in the block caving technique which it could then use at Carapateena.

    The timing of the Northparkes sale will hinge on whether Rio's 20% in the mine, Sumitomo Metal Mining Company Limited with Sumitomo Corporation exercises its rights to match the winning bid which could stretch out the process.

    Sumitomo Metal Mining said that in February it is looking to more than double its copper interests to 330,693 tonnes a year within the next nine years, a target that a takeover of Northparkes would help it meet.

    Rio is not certain to get the price it wants. The company tried to sell the same asset for more than USD 700 million in 2009 but scrapped the auction after receiving lower bids. Still, copper prices were weaker then than they are now, and the mine was awaiting expansion at the time. That expansion has since been completed.

    Source - Reuters
  13. forum rang 10 voda 6 juni 2013 16:42
    BHP owned copper mine fined over spill

    AAP reported that BHP Billiton has been fined as part owner of one of the world's largest zinc and copper mines for a toxic slurry spill last year that sickened dozens of villagers in Peru.

    Mr Manuel Pulgar Vidal environment minister of Peru said that the Antamina consortium was fined USD 77,000 for infractions that included a delay in alerting authorities. Immediately after the July 25 spill, he had called for the maximum penalty of USD 13 million.

    Mr Pulgar Vidal said that under standards set since the spill, Antamina would have faced a higher fine. The new rules set a maximum fine of $US41 million for a single incident of environmental contamination.

    Antamina's owners are BHP Billiton, Glencore-Xstrata, Teck Cominco and Mitsubishi Corporation. The slurry caused nosebleeds, nausea, blurred vision and headaches. Some villagers complain of recurring symptoms.

    Source - AAP
  14. forum rang 10 voda 12 juni 2013 16:31
    Indiase en Chinese bedrijven tonen interesse in delen Rio Tinto


    SYDNEY (Dow Jones)--Rio Tinto plc (RIO.AU) heeft interesse ontvangen van de Indiase bedrijven Coal India Ltd. (533278.BY) en Aditya Birla Group, en het Chinese Shenhua Group Corp. op Australische koolmijn activiteiten die ongeveer $3 miljard waard zijn, meldt een persoon die bekend is met de kwestie dinsdag.

    Volgens de persoon moeten de eerste biedingen deze week uitgebracht worden.

    In April maakte The Wall Street Journal al bekend dat Rio Tinto Deutsche Bank heeft ingehuurd voor de verkoop van delen in verschillende thermische koolmijnen ter waarde van ongeveer $3 miljard. Het betreft daarbij een 29%-belang in het op de staat New South Wales gerichte Coal & Allied Unit, waar ook het Japanse Mitsubishi Corp. (8058.TO) een belang in heeft, en deelnemingen in Rio's Clermont en Blair Athol thermische koolmijnen in het naburige Queensland.

    De internationale mijnbouwers reageren hiermee op de gedrukte vraag naar grondstoffen zoals kolen door de verkoop van kleinere of minder winstgevende activiteiten.

    Ook het metallurgische kolen complex Gregory Crinum, in bezit van BHP Billiton Ltd. (BHP) en Mitsubishi, in Queensland staat op het moment te koop, terwijl het Braziliaanse Vale sa (VALE) graag het minderheidsbelang in twee niet ontwikkelde steenkoollagen in Queensland wil verkopen.

    Stappen om de offshore levering van kolen zeker te stellen passen bij de recente strategische guidance van bedrijven als Coal India Ltd., 's werelds grootste kolenbedrijf op basis van productie, die steeds meer vraag ziet vanuit consumenten zoals de Indiase energiebedrijven.

    Een week eerder rapporteerde The Wall Street Journal op basis van een niet nader genoemd bestuurslid dat Coal India ongeveer $1 miljard apart heeft gezet voor buitenlandse overnames voor het fiscale jaar dat eindigt in maart 2014. Op dit moment zijn de enige activiteiten buiten India twee kolenblokken in Mozambique.

    Het in Mumbai gevestigde Aditya Birla onderzocht eind 2011 de mogelijkheden om de in Australie beursgenoteerde kolen mijnwerker New Hope Corp. (NHC.AU) over te nemen, maar zette dit niet door. E e n van de gelieerde ondernemingen, het op koper gerichte Aditya Birla Minerals Ltd. (ABY.AU) heeft een notering in Australie en kent een marktwaarde van ongeveer $120 miljoen.

    De belangrijkste Australische activiteit van Shenhua is het thermische kolenproject Watermark in New South Wales.

    Chief executive Wang Ningbo van Shenhua Australia, alsmede ook de woordvoerders van Rio Tinto, Aditya Birla Group, en Coal India, wilden allemaal geen commentaar geven.


    - Door Gillian Tan, vertaald en bewerkt door Elco van Groningen; Dow Jones Newswires; +31 20 571 52 00; elco.vangroningen@dowjones.com

  15. forum rang 10 voda 13 juni 2013 17:20
    Mine shutdowns help BHP cap copper processing fees

    Reuters reported that global miner BHP has agreed a rise of around 3% in the fees it will pay to Japan smelters to process its copper concentrate in the H2 after a string of mine shutdowns cut into global supply and dealt it a stronger hand in talks.

    The global copper market is expected to swing into a surplus this year after several years of deficit but shutdowns at Indonesia's huge Grasberg mine and a rockslide at Rio Tinto’s operations in Utah have unleashed a short term scramble for concentrate supply.

    The miner has agreed terms with Japan smelters at USD 72 per tonne and 7.2 cents a pound up from the January benchmark of USD 70 per tonne and 7 cents a pound. This is lower than spot market fees of USD 75 and 7.5 cents won by Chinese smelters at the end of April.

    Mr Stephen Briggs analyst at BNP Paribas in London said that "I have no doubt the higher fees largely reflect the losses from Grasberg and Bingham Canyon, especially Grasberg. Without those, it would be safe to assume smelters would have had a bigger rise in fees. Everybody knows there is a lot of growth in new mine supply going forward."

    Global miners pay TC and RC to smelters to convert concentrate into refined metal with the charges deducted from the sale price based on LME copper prices. Higher charges are typically seen when concentrate supply rises or when smelter capacity thins. The fees are a key part of the global copper industry's earnings.

    Source - Reuters
  16. forum rang 10 voda 13 juni 2013 17:20
    Rio Tinto invests in French aluminum plant to cut power costs

    Reuters reported that Rio Tinto has invested nearly EUR 80 million in its Dunkirk aluminum plant in the past 18 months and plans to invest at least that much again over the next 5 years on energy saving and efficiency improvements.

    The largest aluminum plant in the European Union with 2012 production of 286,600 tonnes, seaside Dunkirk is the biggest single point user of electricity in France, consuming 485 MW per hour or half the output of one nuclear reactor at the nearby Gravelines site.

    As Rio Tinto's 25 year contract with French utility EDF expires at the end of 2016, its electricity bill which adds up to 23% of production costs could rise as much as 80% from 2017, as contract prices catch up. But Rio Tinto is investing heavily to improve efficiency.

    Mr Colin McGibbon Plant director of Rio Tinto said that the firm's main challenge is to avoid this increase but he is confident about reaching a deal with EDF. We need an energy agreement that gives us sufficient visibility and value so that we can keep investing here. We think that is achievable.

    Source - Reuters

  17. forum rang 10 voda 13 juni 2013 17:22
    Rio Tinto releases pink diamond and gold ingot

    Rio Tinto announced that the release of a limited edition pink diamond ingot in honour of its Australian Argyle underground mine opening.

    Crafted by the Perth Mint, 168 individually numbered ingots will be sold worldwide at a price of about USD 4,200.

    The ingot is set with seven rare pink diamonds embedded in a one ounce bar of 22 carat pink gold, with an emblem of the boab tree on the reverse side.

    The Argyle mine in Western Australia produces more than 90% of the world's pink diamonds.

    Source - Mining.com
  18. forum rang 10 voda 14 juni 2013 17:09
    Rio Tinto agrees sale of Eagle project

    Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated USD 325 million in cash. This transaction is expected to close in the Q3 of 2013 and is subject to regulatory approval.

    The Eagle project in the Upper Peninsula of Michigan in the United States includes a high grade underground nickel and copper mine and mill. Construction commenced in June 2010 and is approximately 55% complete.

    Mr Chris Lynch CFO of Rio Tinto said that "The sale of Eagle demonstrates our renewed focus and discipline in the way we allocate capital. We are making good progress on a number of other potential divestments as part of our goal to achieve substantial proceeds from divesting non-core assets.”

    He said that "We believe Eagle will have a sound future under its new ownership given Lundin's commitment to the development of the project. Rio Tinto will continue to manage Eagle to the highest safety and environmental standards during the transition to the new owner."

    Source - Strategic Research Institute

  19. forum rang 10 voda 18 juni 2013 15:45
    Rio Tinto hopes raised on stalled Guinea mine

    Brisbane Times reported that Rio Tinto appears set to find a more flexible attitude from the government of Guinea this week when the two parties meet for talks over the stalled Simandou iron ore project.

    The Guinean government set the tone for the meeting at the weekend when it revealed a willingness to allow a third party to build the railway for the giant iron ore project, which could cost up to USD 20 billion.

    Mr Alpha Conde president of Guinea could help advance the project which has been delayed by Guinea's inability to secure finance to cover its share of costs.

    Mr Conde said that ''What's important to us is that the railway is built, so we're open to any solution that allows the construction of the railway. We are open to a partner financing 51% or all of it; that depends on the agreement we have with Rio Tinto.''

    The project has been frozen for several months as Guinea struggles to secure funding for its share and while Rio completes a major cost cutting and divestment program. Just last week, another Guinean minister revealed that Rio would not have the mine in production by 2015 as planned.

    Source - Brisbane Times.com
  20. forum rang 10 voda 19 juni 2013 16:44
    Rio Tinto sacking staff at iron ore operations in WA

    The ABC has confirmed that Rio Tinto is sacking more staff at its iron ore operations in Western Australia.

    The jobs that are going include executives at the general manager and manager level. Up to 50 manager and general manager roles, based mostly in Perth, will go as Australia's biggest iron ore miner looks to restructure.

    A number of roles will be cut from the Perth office as the iron ore business is restructured under the unit's new boss, Andrew Harding.

    Staff will be made redundant or offered jobs elsewhere at the company.

    Source - ABC
2.098 Posts
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