Eurobench.com

voda 16 april 2014 16:42

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Rio Tinto update on iron ore production in Q1 of 2014

Global iron ore production of 66.4 million tonnes (Rio Tinto share 52.3 million tonnes) and shipments of 66.7 million tonnes set new Q1 records. Rio Tinto’s share of production was 8% higher than in the same period of 2013.

Pilbara operations
Q1 production of 63.4 million tonnes (Rio Tinto share 50.6 million tonnes) was 10% higher than the same period in 2013 and set a new Q1 record, driven by productivity improvements and the continued ramp up towards 290Mt/a.

Production in the first quarter was below fourth quarter levels due to disruption caused by seasonal weather patterns. Severe tropical cyclone Christine closed Rio Tinto’s Pilbara ports and coastal rail operations in late December. Heavy rainfall associated with this cyclone and other adverse weather conditions in January and February impacted across mine, rail and port operations.

Following early completion of infrastructure works associated with the 290 Mt/a project last year, the ramp up to nameplate capacity of 290 Mt/a continued in the first quarter of 2014. The newly commissioned system achieved daily equivalent run rates at or above nameplate capacity on certain days in the Q1 although performance of the integrated system remains variable. The commissioning remains on schedule to be complete by the end of the H1 of 2014.

Pilbara marketing
Q1 sales of 64.2 million tonnes (100% basis) were 17% higher than the same period of 2013, setting a new Q1 record. Sales in the Q1 continued to exceed production due to the drawdown of iron ore inventories built at Pilbara mine sites in previous years to facilitate the rapid ramp up of shipments to 290 MT per annum.

Pilbara expansion;
Expansion of the port, rail and power infrastructure capacity to 360 MT per annum remains on track for completion by the end of the H1 of 2015. In November 2013, Rio Tinto set out its breakthrough pathway to optimize the growth of mine capacity towards 360 MT per annum at a target all in capital intensity of between USD 120 per tonne to USD 130 per tonne (100% basis), significantly lower than originally planned. A series of low cost brownfield expansions will bring on additional tonnes to feed the expanded infrastructure. From a base run rate of 290 MT per annum by the end of the H1 of 2014, mine production capacity is planned to increase by more than 60 million tonnes a year between 2014 and 2017. The majority of the low cost growth will be delivered in the next two years, with mine production of more than 330 million tonnes (100% basis) expected from the Pilbara in 2015.

Iron Ore Company of Canada (IOC);
Q1 saleable production was 12% lower than the same period of 2013 due to the exceptionally cold weather associated with a polar vortex experienced in North America. Pellet sales were 14% higher than in the Q1 of 2013. Concentrate sales were 33% lower than the Q1 of 2013 as a result of the unusually cold weather.

2014 production guidance;
2014 production guidance remains unchanged. Rio Tinto expects to produce approximately 295 million tonnes (100% basis) from its global operations in Australia and Canada, subject to weather constraints. The full ramp up in the Pilbara to nameplate capacity of 290 Mt/a is expected to be delivered by the end of the first half of 2014. The drawdown of iron ore inventories at the Pilbara mines will continue to allow shipments to ramp up ahead of production, with around five million tonnes of inventory drawdown expected during the year.

Source - Strategic Research Institute

voda 16 april 2014 16:45

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General Steel signs direct iron ore supply agreement with Rio Tinto

General Steel Holdings Inc , a leading non state owned steel producer in China, announced that its principal manufacturing facility, Shaanxi Longmen Iron and Steel Company Limited has signed a supply agreement with Rio Tinto Iron Ore Asia Pte Limited for procurement of imported iron ore in 2014.

Under this agreement, Rio Tinto will directly provide Longmen JV at least 1.5 million tonnes of imported iron ore at a favorable price based on the average monthly iron ore index upon delivery.

Mr Henry Yu chairman and CEO of General Steel said that "We are thrilled to sign our first direct supply agreement with Rio Tinto. The ability to directly procure from one of the world's largest supplier will significantly lower our sourcing costs and ensure timely delivery of the highest quality imported iron ore. We believe the large guaranteed supply coupled with pre determined favorable pricing terms provides us with more operational flexibility and greater cost advantages. Importantly, our commitment to the large purchase volume demonstrates confidence in our leading position in Western China and optimism of a turnaround in our core marketplace and return to revenue growth in 2014."

Source - Strategic Research Institute

voda 17 april 2014 15:58

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BHP Billiton update on operational review

BHP Billiton maintained strong momentum in the nine months ended March 2014 with record production achieved for four commodities and at 10 operations.

Strong operating performance throughout the period, the relatively limited impact of the wet season and the continued ramp up of Jimblebar underpinned record production at Western Australia Iron Ore of 163 million tonnes (100% basis). Full year production guidance has been raised by a further 5 million tonnes to 217 million tonnes (100% basis).

Queensland Coal achieved record annualized production of 69 million tonnes (100% basis) in the March 2014 quarter. A sustainable improvement in productivity and the successful ramp up of Daunia has underpinned an increase in total metallurgical coal production guidance to 43.5 million tonnes for the 2014 financial year.

Petroleum liquids production increased by 16% to 77 million barrels of oil equivalent for the nine months ended March 2014, underpinned by a 71% increase at Onshore US. As a result of the successful divestment of Liverpool Bay and well remediation activities in the Hawkville that are now complete, total petroleum production for the 2014 financial year is expected to be approximately 245 million barrels of oil equivalent. The overall reduction in full year guidance has been mitigated by an increased contribution from higher margin crude and condensate.

Full year copper production guidance remains unchanged at 1.7 million tonnes with a strong June 2014 quarter anticipated.

Mr Andrew Mackenzie CEO of BHP Billiton said that “Our productivity agenda continues to deliver outstanding results, underpinning a 10% increase in production so far this year. Having achieved record iron ore and metallurgical coal production during the first nine months of this year, we have raised full year guidance for both commodities. The strong contribution from our high margin Gulf of Mexico operations and the predictability of Escondida’s performance is also pleasing. We continue to expect cumulative production growth of 16% over the two years to the end of the 2015 financial year.”

Mr Mackenzie said that “During the period, the fourth pellet plant at Samarco achieved first production and commissioning at Caval Ridge commenced ahead of schedule. Our newest hard coking coal mine will add to our uniquely diversified and opportunity rich portfolio of large mining and petroleum operations. Group capital and exploration expenditure remains on track to decline by 25% in the 2014 financial year, before declining again next year. By maintaining strict financial discipline and a focus on our four pillars of Iron Ore, Copper, Coal and Petroleum, we continue to believe that an average rate of return of greater than 20%2 is achievable for our major development options.”

Source – Strategic Research Institute

voda 17 april 2014 16:01

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BHPB Billiton update on iron ore production

Iron ore production for the nine months ended March 2014 increased by 21% to a record 147 MT and included 23% increase in WAIO production. This record result was underpinned by strong operating performance, the relatively limited impact of the wet season and the continued ramp up of Jimblebar. The significant improvement in equipment and labour productivity achieved during the period will also enable Orebody 18, the last of our contractor run sites, to transition to be owner operated early in the 2015 financial year.

Despite tie in activities associated with the commissioning of the first replacement shiploader scheduled for the June 2014 quarter, we have raised production and sales guidance for the 2014 financial year to 217 MT (100% basis). In total, we have raised production guidance for this high margin business by 10 MT (100% basis) during the course of the year.

The ramp up of phase one capacity at Jimblebar to 35 million tonne per annum(100% basis) is expected to be completed by the end of the 2015 financial year. Longer term, a low cost option to expand Jimblebar to 55 Mtpa (100% basis) and the broader debottlenecking of the supply chain are expected to underpin further capital-efficient growth in capacity to approximately 260 million tonne per annum to 270 million tonne per annum(100% basis).

Samarco production of 4.6 MT (100% basis) in the March 2014 quarter was affected by tie in activities associated with the Fourth Pellet Plant project, which achieved first production during the period. Total iron ore production for the 2014 financial year is now expected to be 197 MT.

Source – Strategic Research Institute

voda 17 april 2014 16:11

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Rio Tinto under fire for safety after deaths in Indonesia

Rio Tinto was accused by unions and protestors of neglecting safety, leading to the deaths of 33 people in Indonesia last year.

Trade union IndustriAll, which represents 50m industrial workers worldwide, said that Rio had committed very wide breaches of fundamental rights and could have done more to prevent the deaths of the gold miners. The miners died when a tunnel collapsed at the Grasberg mine, Rio’s JV with US company Freeport, last May.

Mr Kemal Ozkan assistant general secretary of IndustriAll claimed that the Indonesian human rights commission found that the operators of the mine had the ability to prevent this from happening but didn’t. The lack of effort jeopardised the lives of others. The gravity of this case is serious.

Mr Jan du Plessis chairman of Rio Tinto called it a tragedy and said that the company was working to improve safety. We’ve got to be by far one of the leaders in this field safety.

He confessed that the Grasberg mine, the world’s largest gold mine, was far from perfection but said that Rio’s board believed both safety and environmental issues were unable to be resolved by pulling out of the operation in Papua.

Source – Ifamagazine.com

voda 17 april 2014 16:41

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Rio Tinto sees volatility only as a short term feature

The Australian reported that Rio Tinto has warned of increasing uncertainty in the global markets that drive its profits and play a huge part in the nation’s fortunes, indicating a bounce back in growth it predicted two months ago looks less certain.

Mr Jan du Plessis chairman of Rio Tinto warned the miner was still operating in a challenging and volatile environment. While the outlook is now brighter (than last year) in some parts of the world, we believe that volatility looks set to remain in the short to medium term as a number of structural deficiencies remain unresolved.”

The miner said that volatility was seen only as a short term feature and that positive signs of recovery were appearing in developed nations that would underpin an increase in global growth this year and next.

Mr du Plessis said that “Tensions remain in Europe, and the pace of reform and structural readjustments is slow. The combination of low interest rates, low growth and low inflation leaves that continent with considerable challenges. In the US the unwinding of quantitative easing represents uncharted territory. China could also provide uncertainty.

He said that “While the fundamental drivers of the Chinese economy remain intact, we can expect some variability in the near term as authorities endeavour to steer the economy along a more sustainable and steady path of growth. There is no question, however that the Chinese leadership remains committed to pursuing economic reform, which offers potential benefits for the global economy in the long term, even if there is some variability along the way.”

Source – The Australian.com

voda 17 april 2014 16:42

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China plan for iron ore giants hard to make the grade

Reuters reported that China's bid to slash its dependence on foreign iron ore miners by creating its own mega producers risks running aground before it starts due to high costs and poor quality of ore. Instead, overseas suppliers may end up shipping more to their top market.

For two decades, China has been trying to reduce its reliance on iron ore supplied by top producers Vale, Rio Tinto and BHP Billiton without much success because the price of the ore it produces is higher.

These global miners are boosting output to capture more of the Chinese market through massive expansion schemes to increase their dominance. BHP lifted its annual iron ore production guidance to 217 million tonnes, while Rio Tinto is close to mining 300 million tonnes a year and Brazil's Vale is targeting more than 360 million tonnes.

In an effort to make its own iron ore mining more efficient, China which buys more than two thirds of the world's iron ore, is drafting a plan to create 6 to 8 domestic iron ore miners by 2025, each with an annual capacity of more than 30 million tonnes.

Beijing wants Anshan Iron & Steel Group, a steelmaker with its own iron ore mines, and the Metallurgical Mines' Association of China to lead the plan. A draft is expected by year end to be submitted to the State Council for approval.

However, combined production would at best amount to only a third of total demand, making a target to cut imports to below half of China's requirement within 10 years look impossible and suggests big global miners may have to ship even more.

A senior official said that rhe only way for the new integrated miners to compete against top miners is if they can slash their costs, but I do not expect this can happen.Chinese resources require deeper and deeper digging, and grades are falling, meaning both mining and beneficiation (crushing and separating ore) costs are increasing.

Source - Reuters.com

voda 18 april 2014 14:56

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Bad news in China is good for BHP

BHP Billiton has lifted its full year guidance for iron ore output on a day bad Chinese economic news was good news for the mining giant.

The release of weaker quarterly economic growth figures in China including a five year low in industrial production growth sparked predictions it would combat that with an infrastructure spending stimulus package.

Shares in BHP fell after the morning release of its quarterly production update but then jumped as did fellow iron ore miners Rio Tinto and Fortescue Metals on the release of China's data.

A boost in infrastructure spending in China would increase iron ore demand to make steel, reducing the risk of a supply glut currently predicted.

BHP has raised its 2013 to 2014 guidance for iron ore output in Western Australia's Pilbara by five million tonnes to 217 million tonnes or more than 227 million tonnes globally when its Brazilian operations are included.

BHP is the world's largest diversified resources company and third largest iron ore producer for export. It beat expectations in the March quarter, lifting production by 23% to 57.6 million tonnes and growing sales by 21% to 57 million tonnes.

The Pilbara's wet season had a limited impact, unlike for rival Rio Tinto which on Tuesday blamed wet weather and tropical cyclone Christine for it missing quarterly targets.

Mr Andrew Mackenzie CEO of BHP said that the company's productivity agenda was delivering outstanding results, underpinning a 10% increase in production so far this financial year. We continue to expect cumulative production growth of 16% over the two years to the end of the 2015 financial year."

Source – SMH.com

voda 24 april 2014 16:54

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BHP Billiton opens Jimblebar iron ore mine in WA

BHP Billiton celebrated the official opening of its new Jimblebar iron ore mine 40 kilometres east of Newman in the Pilbara region of Western Australia.

Mr Jimmy Wilson president iron ore for BHP Billiton was joined by the Premier of Western Australia, the Hon. Colin Barnett, and JV participants ITOCHU Corporation and Mitsui & Company Limited to open the USD 3.2 billion (BHP Billiton share) Jimblebar mine.

Jimblebar delivered first production in the quarter ending September 2013 and is expected to deliver phase one capacity of 35 million tonnes per annum by the end of the 2015 financial year. Together with the installation of four mobile crushers, this will increase total Western Australia Iron Ore (WAIO) supply chain capacity to in excess of 220 million tonnes per annum (100 per cent basis).

Longer term, a low cost option to expand Jimblebar to 55 million tonnes per annum and the broader debottlenecking of the supply chain is expected to underpin capital efficient growth in WAIO capacity to approximately 260 million tonnes per annum to 270 million tonnes per annum (100% basis).

Mr Jimmy Wilson said that “Extensive planning and research went into designing Jimblebar’s mining operation, with productivity measures and technology central to the design plan. Mobile crib rooms and fuelling stations have been positioned closer to the mine pits so our trucks and equipment spend more time moving earth and less time travelling or parked out of action.”

Mr Wilson said that “Our pursuit of productivity gains and operational excellence is delivering significant value at Western Australia Iron Ore. The business is now well positioned to deliver high margin volume growth at a substantially lower cost. We are also pleased to announce we are extending our Jimblebar autonomous truck trial to the neighbouring Wheelarra operations using six Caterpillar 793-F trucks in the second trial.”

Mr Wilson acknowledged the positive relationships between employees, Indigenous land owners and joint venture participants ITOCHU and Mitsui that have been crucial to the success of the Western Australian business. The agreement we have with the traditional owners will build on our existing relationship and will ensure that the Nyiyaparli people can share in the benefits of the new mine.”

He said that “Over the past two years alone, we have invested over AUD 1.3 billion in the Western Australian community, including community projects, town servicing infrastructure, training opportunities and regional development activities and accommodation.”

Source – Strategic Research Institute

voda 24 april 2014 17:02

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BHP Billiton to cut aluminum output at Brazil's smelter

It is reported that BHP Billiton has announced plans to cut output at Brazil’s Alumar smelter.

The company is planning to curtail capacity by 58,000 tonnes, starting in June. The move is followed by the suspension of 45,000 tonnes output at Alumar in September 2013.

Alumar’s aluminum production dropped by 30% to 260,000 tonnes in the first quarter compared to the previous quarter. Meanwhile, output of alumina registered an increase of 4% to 314,000 tonnes.

The company is expected to produce more iron ore production due to a strong performance from a new Australian mine.

Source - www.yieh.com

voda 26 april 2014 16:07

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Roy Hill would not end iron ore in WA - BHP Billiton

SMH cited Mr Jimmy Wilson iron ore president BHP Billiton as saying that greenfield mine developments are still possible in Western Australia this decade, even though the sector has crimped capital spending to shift focus on boosting production from existing assets.

Mr Wilson officially opened BHP Billiton's USD 3.2 billion Jimblebar mine in the Pilbara capping off an extraordinary expansion for the world's biggest miner and the broader resources sector. It is one of the last mines to open, with just Gina Rinehart's 55 million tonne per annum Roy Hill project left to complete, which is expected next year.

Mr Wilson said that miners across WA were going to chase down efficiency but this did not mean no new mines would be built in the coming decade. To say this will be the last greenfields mine outside of Gina's (Rinehart) facility going up I think would be a bit of stretch.

He said that raw steel production in China grew at 24% in the H1 of the last decade, slipping to 12% and forecast to grow this decade by 3.4%.

Jimblebar delivers 35 million tonnes per annum of ore but has capacity to generate 55 million tonnes. This additional 20 million tonnes is part of a broader push by BHP to boost production to between 260 million tonnes to 270 million tonnes from its current mine operations. BHP anticipates producing 217 million tonnes of ore by June 30.

In 2002 BHP's annual production was just 72.5 million tonnes. It has upgraded its iron ore production guidance twice this year after improving its operations generated better than expected production output.

Mr Wilson said that "We certainly have an aspiration to get there as soon as we practically can. That will require some capital investment within our organisation. He continues to expect the iron ore price to weaken in the face of lower cost production displacing high cost producers.”

Source – SMH.com

voda 26 april 2014 16:09

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New water source switched on for Pilbara iron ore operations

ABC reported that West Australian Premier Mr Colin Barnett has opened a new water source in the Pilbara, which he says will save the Government the cost of building a desalination plant.

The AUD 310 million Bungaroo Valley bore, near Pannawonica, will supply up to 10 gigalitres a year for Rio Tinto's coastal operations and for domestic use in Wickham and Dampier. The bore relieves pressure on the Millstream aquifer, which supplies the general water needs of the West Pilbara.

Mr Barnett said that he was relieved because the new bore meant the Government would no longer be required to build the desalination plant it had budgeted for in 2011. We're broke, so AUD 370 million on a desalination plant that wouldn't have produced a great deal of water was not an attractive solution."

He said that but the Government was, at the time prepared to go down that path. The towns had to have water. Rio Tinto has now essentially got its own water supply, so the Millstream resource is now free to be used by the Water Corporation to service the towns in the West Pilbara area. That's terribly important for the development Karratha, Dampier, Roebourne and so on."

Mr Warwick Smith acting CEO of iron ore operations of Rio Tinto said that “The miner would make use of nearly all of the water derived from Bungaroo. Expanding our business to the extent we are, we will require about eight gigalitres or thereabouts of water. So yes, we'll need it and we'll use it. When you get cyclonic rainfall in the Robe Valley region where Bungaroo is, it's amazing how much water is there. So, as a source of water it's very hard to beat and it's closer to the coast than other sources."

Source – ABC.net

voda 30 april 2014 17:12

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Rio Tinto to test driverless iron ore trains in the Pilbara

Rio Tinto is gearing up to start testing driverless trains in Western Australia's Pilbara, in what it believes is a world first for mining.

A locomotive fitted out with auto-haul technology will cart iron ore to port along the Tom Price railway next month.

The train will initially be manned to ensure the new equipment runs smoothly.

Rio Tinto hopes that by early next year most of its trains will not require drivers.

Acting chief executive of iron ore operations, Mr Warwick Smith, said that the initiative was part of the company's plan to export 360 million tonne of iron ore a year from the Pilbara by 2017.

He said that "We've been doing engineering work on that now for many years, so we've done a lot of preparation and we'll soon move into an execution phase. Effectively, you're taking a driver off the train and you have an algorithm that basically is running the train."

Mr Smith said that the project has been years in the making.

He said that "It'll be a ramp up process, we won't be doing it overnight. It will be steady. We're already commissioning some of the trains. That's quite a process. It will probably take all year to commission the number of locos we've got."

Source - www.abc.net.au

voda 2 mei 2014 19:38

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Rio Tinto flags job cuts at Hails Creek coal mine

Bloomberg reported that Rio Tinto will cut an undisclosed number of jobs at its Hails Creek coal mine, as low coal prices continue to weigh on the miner's operations.

Rio Tinto said that a number of roles were no longer required at the Australian coal mine, as the operation undergoes some changes to ensure its sustainability.

The mining giant reportedly added that it was working to improve its overall productivity and to reduce costs across all of its mines.

Source – Bloomberg

voda 6 mei 2014 16:43

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Koperwinning GlencoreXstrata stijgt een kwart

DINSDAG 6 MEI 2014, 09:03 uur | 108 keer gelezen

BAAR (AFN/BLOOMBERG) - GlencoreXstrata heeft in het eerste kwartaal 24 procent meer koper gedolven dan een jaar eerder. Dat maakte de mijnbouwer en grondstoffenhandelaar dinsdag bekend.

Het concern haalde 382.000 ton uit zijn eigen mijnen in vergelijking met 307.000 ton een jaar eerder. De productie van kolen steeg ondanks een staking bij een mijn in Colombia met 4 procent tot 34,1 miljoen ton.

De productie van zink daalde met 18 procent tot 306.000 ton en de productie van nikkel nam met 15 procent af tot 22.300 ton.

voda 8 mei 2014 17:00

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BHP Billiton on track to lift iron ore capacity to up to 270 million tonnes

Reuters reported that BHP Billiton is on track to increase its annual capacity to between 260 million and 270 million tonnes.

BHP last month lifted its iron ore output guidance this year by 5 million tonnes to 217 million as it pushes ahead with new mine work in Australia.

Mr Michiel Hovers VP for marketing at BHP Billiton said that “The miner expects China's steel production to peak at 1.1 billion tonnes by the middle of the next decade. Globally, BHP sees steel demand growth remaining strong over the next 10 years and to moderate after that. We see strong global steel demand to continue to underpin demand for iron ore."

Source – Reuters

voda 9 mei 2014 16:33

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Global iron ore glut threatens Chinese miners

Reuters quoted BHP Billiton as saying that mainland iron ore miners face a rising challenge from increased overseas supplies of raw material for steel and some higher cost capacity will probably be forced to close.

Mr Michiel Hovers VP of iron ore marketing at BHP said that “The gain in global production is being led by Australia and Brazil and their new, low cost output will displace marginal suppliers in China.”

Mr Hovers said that "Seaborne supply growth will come largely from Australia and Brazil. This new supply will be low cost seaborne and displace marginal supply from high cost domestic Chinese producers and other lower-quality iron ore imports into China."

Mr Claudio Alves global marketing and sales director for Vale said that “The company plans to raise output by almost 50% by 2018. The biggest producers, including Vale, BHP, Rio Tinto and Fortescue Metals, have invested billions of dollars to expand output, betting on sustained growth in demand from China, the biggest buyer. Iron ore fell into a bear market in March amid forecasts for a global glut.”

According to data from The Steel Index, ore with 62% content delivered to Tianjin has lost 21% this year to USD 106 per dry tonne. The benchmark price fell to USD 104.70 on March 10, the lowest level since October 2012. Prices may decline to USD 95 in the Q4.

According to Australia's Bureau of Resources and Energy Economics, if prices drop to USD 100, supplies in China may be hurt as mainland mines with high production costs are forced to cut output or close. By comparison, Rio Tinto can be profitable above USD 36 and BHP's break even is USD 38.

Global seaborne supplies will increase by 114 million tonnes to 1.25 billion tonnes this year, Morgan Stanley estimated in a report. That would increase the worldwide surplus to 71 million tonnes this year from 900,000 tonnes last year.

Mr Alves said that "What's happening now is the major iron ore producers are bringing considerable new capacity. Citing a rise of about 108 million tonnes this year and 90 million next year. Most of the tonnage is very competitive."

He said that it would take time to absorb that pickup in iron ore supply, forecasting that China's imports will rise to more than 816 million tonnes this year from about 743 million tonnes last year. It will make some pressure in terms of price, create some volatility.

Source – Reuters

voda 9 mei 2014 16:45

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Rio Tinto to test driverless heavy-haul iron ore trains in Pilbara

Rio Tinto is to start tests of driverless heavy-haul iron ore trains on the Tom Price railway in the Pilbara region of Western Australia this month as it moves towards completion of its AutoHaul automation project.

Rio Tinto is investing around USD 518 million in what is the world's first automated long-distance heavy haul system, which is part of its Mine of the Future programme that also includes driverless trucks and automated drills. The trains will be manned initially to ensure the effective operation of the automation equipment but Rio Tinto hopes to install completely automated operations on its entire 1500 kilometer heavy haul network by the end of the year. Around 500 drivers are expected to be affected by the upgrade.

Ansaldo STS won the AUD 317.5 million contract for the development and delivery of an automated train management system in 2012, which includes the supply of a vital safety server for the safe and flexible management of train movements and an on-board driving module. The system utilises existing wayside infrastructure with the contract awarded under the 2010 Rio Tinto-Ansaldo STS Framework Agreement.

Rio Tinto said that AutoHaul is a key part of its plans to export 360 million tonne of iron ore from the Pilbara by 2017, an increase of around 50%. It has also invested in updated locomotive control systems which allow the introduction of electronic-controlled pneumatic braking. Ansaldo STS was awarded this AUD 44.7 million contract under Rafa in July 2012.

Source - www.railjournal.com

voda 13 mei 2014 16:22

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BHP Billiton close to selling Guinea iron ore stake - Report

Business Spectator reported that ArcelorMittal is in discussions with BHP Billiton to acquire the Australian mining company’s stake in a major Guinean iron ore deposit.

A deal, potentially worth as much as USD 500 million, would bring an end to BHP’s months long attempt to find a buyer for its 41.3% stake in Mount Nimba, a rich deposit located close the Liberian border.

ArcelorMittal is already heavily invested in iron ore projects in neighbouring Liberia. Crucially, it operates a Liberian rail line to the Atlantic port of Buchanan, the only existing way of carrying the ore mined at Mount Nimba to export markets. As things stand, any company that buys BHP’s stake in Nimba would need to come to an agreement with ArcelorMittal, Liberia and Guinea to use the railway.

With little or no other infrastructure available, negotiating access to the railway is essential for profitable mining at current iron ore prices. For BHP Billiton, selling out of Mount Nimba would hasten its plans to exit West Africa and focus its investments elsewhere in the world.

Mr Andrew MacKenzie CEO of ArcelorMittal has made streamlining the company one of his main priorities, which includes cutting back spending on big, capital intensive projects. Although ArcelorMittal had initially been one of a group of suitors when BHP Billiton opened sales talks in late 2012, Brazilian firm B&A Mineraçao, emerged as an early frontrunner. However, lengthy negotiations with B&A, founded by former Vale boss Roger Agnelli, collapsed earlier this year.

Source - Businessspectator.com

voda 13 mei 2014 16:30

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Tugboat workers' strike at Port Hedland could affect iron ore exports

BHP Billiton has warned that a potential strike involving tugboat workers at Port Hedland, the world's biggest bulk export port, could significantly affect Australia's iron ore exports.

The company issued a statement describing the possible industrial action, over pay and conditions, as irresponsible, saying it could cost iron ore suppliers about USD 100 million a day.

The deckhands, who are members of the Maritime Union, have supported a ballot to take protected industrial action for up to a week at the Pilbara port if negotiations on a new enterprise bargaining agreement do not reach a resolution.

The ballot gives them 30 days to lawfully take action under the Fair Work provisions.

The workers would have to give Teekay Shipping three days notice of any stop work action.

2 other maritime unions, the marine engineers and maritime officers, are also considering strike action.

BHP said that the state and federal governments also stand to lose royalty and tax revenue as a result of a strike.

The company said in a statement that "We estimate this will cost suppliers who ship out of Port Hedland around USD 100 million a day. Significant royalty and tax revenue will be lost to the Western Australian and federal governments. Mining companies like BHP Billiton are not able to make up lost volume of this nature and governments cannot recover these lost royalties and taxes."

Mr Nev Power CEO of Fortescue Metals issued a statement saying that the export of iron ore through Port Hedland was critical to the company, the mining industry and the Australian economy.

He said that "There is a need to reform the outdated industrial laws that allow a handful of workers to hold to ransom the jobs of thousands of people, threaten state revenue, jeopardise the sustainability of local communities and damage our international trade reputation."

BHP said that the conciliation process is still progressing through the Fair Work Commission and they are hopeful the union and workers can reach an agreement.

Mr Will Tracey from the Maritime Union said industrial action was considered a last resort and workers hoped to come to an agreement without striking.

He said that the main issue of contention related to leave.

Tugboat workers work on a 4 week on, 4 week off roster and do not get annual leave.

Mr Tracey said that "We are pursuing a claim of four weeks' leave a year. We think this is very reasonable, given our members work 12 hours a day for 28 days straight in very tough conditions."

The union is also seeking a pay rise and said that it had already agreed to a number of tradeoffs to secure its claims.

Mr Tracey said that 100% of the vote supported a 24-hour strike, and there was 98 per cent support for a 48 hour strike and a week long strike.

He said that "We've had a number of meetings but when the company continues to slide backwards on what we thought was a previously agreed position, workers have no other option but to go down that path."

The 2 parties will appear before the Fair Work Commission again on May 20th.

Source - www.abc.net.au

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