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Mijnen,Rio...bhp

1. voda 20 juli 2016 15:42

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   BHP Billiton produceert minder ijzererts
   
   Ook productie olie, koper en steenkool lager.
   
   BHP Billiton heeft in het afgelopen gebroken boekjaar onder andere minder ijzererts geproduceerd. Dit heeft de mijnbouwer woensdag bekendgemaakt.
   
   BHP Billiton schreef de daling in zijn operationele overzicht over het gebroken boekjaar met 2 procent toe aan de stillegging van de operaties in Samarco, terwijl de ijzerertsproductie in West-Australië, de zogeheten WAIO-volumes, wel stegen.
   
   Ook bij koper, aardolie en energiekolen zag BHP Billiton de volumes in het volledige boekjaar dat eindigde op 30 juni afnemen. Bij metallurgische kolen werd een kleine stijging van 1 procent door de Australiërs opgetekend. De productie van koper daalde met 8 procent.
   
   Het bedrijf verwacht dat de onderliggende winst over het eerste halfjaar van afgelopen boekjaar een extra voorziening van 175 miljoen Amerikaanse dollar bevat.
   
   BHP Billiton voorziet verder dat de doelstellingen voor de kostenbeheersing voor het afgesloten boekjaar zijn gehaald, met een verdere daling van de kosten voor het nieuwe boekjaar. Er zijn vier grote projecten in ontwikkeling genomen, die allen op schema liggen.
   
   Door: ABM Financial News.
   
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   Redactie: +31(0)20 26 28 999
   
   Copyright ABM Financial News. All rights reserved
   
   (END) Dow Jones Newswires
2. voda 25 juli 2016 17:06

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   Bougainville wants international pressure on Rio Tinto
   
   It is reported that a special meeting of the parliament on Bougainville has strongly condemned the way Rio Tinto walked away from its obligations to the province.
   
   The multi-national mining company, which had had the controlling interest in Bougainville Copper Ltd, split its shares between Bougainville and the Papua New Guinea governments.
   
   It said that it was no longer obliged to fix the environmental and other issues resulting from the shut down Panguna mine. But Bougainville President John Momis said the region needed to unite to demand that all of the Rio Tinto shareholding be given to Bougainville.
   
   And he wants an international campaign to pressure Rio Tinto to accept its responsibility for the mine legacy issues.
   
   Mr Momis said Bougainville must also try and persuade the PNG Government to accept its responsibilities for those same legacy issues.
   
   The Bougainville Mining Minister Robin Wilson is calling for the establishment of a Task Force to lead a campaign to look into possible legal action against Rio Tinto or have the company censured by international bodies.
   
   Source : radionz.co
   

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3. voda 28 juli 2016 16:38

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   BHP Billiton boekt provisie van meer dan 1 miljard dollar
   
   Joint venture partner Vale neemt voorziening van 1,2 miljard dollar.
   
   BHP Billiton neemt een eenmalige last van meer dan 1 miljard dollar in verband met de dodelijk dambreuk vorig jaar bij zijn ijzererts-mijnbouw-activiteiten in Brazilië. Dit meldde 's werelds grootste mijnbouwer op basis van marktwaarde donderdag.
   
   BHP Billiton zei een voorziening te nemen variërend van 1,1 miljard tot 1,3 miljard dollar, circa de helft van de geschatte financiering, die de Samarco Mineracao joint venture nodig heeft onder een overeenkomst die het bedrijf tekende met de Braziliaanse autoriteiten.
   
   Vale, de partner van BHP Billiton in de Samarco Mineracao joint venture, meldde in een aparte verklaring een eenmalige voorziening te nemen van 3,7 miljard Braziliaanse real, ofwel 1,2 miljard dollar.
   
   Bij het ongeluk in november vorig jaar kwamen 19 mensen om het leven en werden kilometers aan rivieren vervuild.
   
   Door: ABM Financial News.
   
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   Redactie: +31(0)20 26 28 999
   
   Copyright ABM Financial News. All rights reserved
   
   (END) Dow Jones Newswires
4. voda 3 augustus 2016 16:52

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   Rio Tinto boekt hogere winst
   
   Investeringen bijna gehalveerd.
   
   Rio Tinto heeft in de eerste zes maanden van dit jaar een hogere nettowinst geboekt, terwijl de kapitaalinvesteringen fors afnamen. Dit meldde de Brits-Australische mijnbouwer woensdagochtend voorbeurs.
   
   CEO Jean-Sébastien Jacques sprak van een aanhoudende volatiliteit en lagere grondstofprijzen, terwijl Rio Tinto zich blijft richten op het creëren van waarde voor de aandeelhouders.
   
   In de eerste zes maanden van het jaar steeg de nettowinst van 806 miljoen naar 1,7 miljard dollar. Onderliggend daalde de winst evenwel van 2,9 miljard naar 1,6 miljard dollar. De geconsolideerde omzet daalde met 2,5 miljard tot 15,5 miljard dollar. Dit had deels te maken met de zwakke grondstofprijzen.
   
   De kapitaaluitgaven halveerden bijna, van 2,5 miljard naar 1,3 miljard dollar. De nettoschuld daalde ten opzichte van eind december met 6 procent tot 12,9 miljard dollar.
   
   Rio Tinto maakte woensdag verder bekend een interimdividend uit te keren van 0,45 dollar, tegenover ongeveer 1,08 dollar een jaar eerder. Het concern streeft naar een jaarlijkse dividenduitkering van niet minder dan 1,10 dollar per aandeel.
   
   Door: ABM Financial News.
   
   Info@abmfn.nl
   
   Redactie: +31(0)20 26 28 999
   
   Copyright ABM Financial News. All rights reserved
   
   (END) Dow Jones Newswires
5. voda 16 augustus 2016 16:23

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   Correctie: BHP Billiton lijdt grootste verlies uit geschiedenis
   
   Slecht resultaat vooral door miljarden aan afwaarderingen.
   
   BHP Billiton heeft het grootste verlies uit zijn geschiedenis geboekt, vooral als gevolg van miljarden aan afwaarderingen. Dit maakte de Australische mijnbouwer dinsdag bekend.
   
   Het concern realiseerde in het op 30 juni geëindigde boekjaar een verlies van 6,39 miljard dollar (5,72 miljard euro)N tegen een nettowinst van 1,91 miljard dollar een jaar geleden. Analisten waren gemiddeld uitgegaan van een verlies van 5,8 miljard dollar.
   
   Het dividend werd verlaagd naar 0,14 dollar per aandeel van 0,62 dollar een jaar geleden.
   
   Het verlies was vooral te wijten aan afwaardering van 7,7 miljard dollar, voornamelijk vanwege afschrijvingen op olie-activiteiten inde Verenigde Staten en op operaties van ijzerertsmijnen in Brazilië.
   
   Onderliggend, exclusief eenmalige posten, daalde het resultaat alsnog met 81 procent tot 1,22 miljard dollar. Het concern heeft vooral te kampen met overproductie, resulterend in sterk lagere grondstofprijzen.
   
   BHP maakte bekend 437 miljoen dollar aan besparingen te hebben gerealiseerd uit efficiencyverbeteringen.
   
   Correctie: om schrijffout in kop te corrigeren.
   
   Door: ABM Financial News.
   
   Info@abmfn.nl
   
   Redactie: +31(0)20 26 28 999
   
   Copyright ABM Financial News. All rights reserved
   
   (END) Dow Jones Newswires
6. voda 24 augustus 2016 16:59

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   Rio Tinto says it will close India Bunder diamond project to cut costs
   
   Rio Tinto Group said that it will shut the Bunder diamond mine in India by the end of the year, as the world's second-biggest miner seeks to cut costs and conserve cash.
   
   The company said that Bunder remains a top-class diamond deposit and Rio Tinto will work with the federal and Madhya Pradesh state governments to examine options for another investor to take over the project.
   
   Development of the mine about 500 kilometers (310 miles) southeast of New Delhi has been stymied by delays in environmental approvals that would allow the clearing of a forested area important to tiger and other wildlife habitats. The deposit was discovered in 2004.
   
   Rio Tinto joins other foreign investors such as South Korea's biggest steelmaker Posco who have put Indian plans on hold because of drawn-out approval processes, government red tape and land acquisition hurdles. India is seeking to overhaul exploration and mining rules by cutting the time needed for environmental and state approvals and thereby boost investments.
   
   Mr Gunjan Aggarwal, an analyst at consultancy CRU Group, said that “The Rio project had been in the works for some years and it was time for them to take this move because these companies need a single window clearance or at least something that works for them."
   
   Mr Aggarwal said that "We still have to reach a stage where these companies, the BHPs, Vales and Rio Tintos of the world feel comfortable investing into mining in India."
   
   Source : Bloomberg
   

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7. voda 24 augustus 2016 17:01

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   China sovereign fund to pursue USD 9billion Vale iron ore streaming deal - Report
   
   Bloomberg reported that China Investment Corp. is leading a Chinese investor group in talks for an iron ore streaming deal worth as much as $9B with Brazil’s Vale (VALE -2.8%).
   
   According to the report, some Chinese companies and Japanese trading houses have also held discussions with Vale about possible deals, including acquiring a minority stake in Brazilian iron ore assets owned by the company.
   
   A streaming deal would allow China to profit from a recovery in commodity prices without bearing all the operational risk associated with owning mines, while Vale would get immediate cash while staying in charge of valuable assets.
   
   The world's top iron ore producer Vale (NYSE:VALE) is getting closer to inking a commodity streaming deal with Chinese companies that could afford the Brazilian giant an up to $9 billion upfront payment.
   
   Bloomberg reported over the weekend a deal with China Investment Corp, the country's $814 billion sovereign wealth fund, could see Vale sell part of its future iron ore output to the Chinese over 30 years: "These deals are usually done at a deep discount to ruling prices and the long-term nature of any agreement could also dampen the outlook"
   
   According to the report citing people familiar with the matter other Chinese companies and Japanese trading houses have also held discussions with Vale and considered alternative agreements including acquiring a minority stake in the company's iron ore assets: "A so-called streaming transaction would allow CIC, owned by the government of the world’s biggest iron-ore importer, to profit from a recovery in commodity prices without bearing all the operational risk associated with owning mines. Vale, which has said it will consider the sale of $10 billion of its best assets by the end of next year, would get immediate cash while staying in charge of valuable assets."
   
   Hit by its first annual loss since 1997, the Rio de Janeiro-based company said in February it wants to reduce its net debt to $15 billion within 18 months and would look at selling core assets to do it. The Samarco dam collapse in November last year, which killed 19 people and became Brazil’s worst environmental disaster, is also weighing down the company as the operation remains suspended.
   
   The impact of a Vale–China deal on the iron ore price could be negative as these deals are usually done at a deep discount to ruling prices and the long-term nature of any agreement could also dampen the outlook for the steelmaking raw material.
   
   Iron ore prices have defied skeptics and continues to trade above $60 a tonne on the back of record-breaking imports by China this year. Cargoes headed to China could top 1 billion tonnes this year, representing some three-quarters of the seaborne trade, as domestic production continues to shrink.
   
   Source : Bloomberg
   
8. voda 24 augustus 2016 17:03

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   Rio Tinto celebrates 50 years today since first contracted shipment of iron ore set sail in Japan
   
   Published on Tue, 23 Aug 2016
   
   Today marks 50 years since Rio Tinto’s first contracted shipment of our iron ore departed Dampier for the Yawata Iron and Steel Company in Japan.
   
   Ahead of this milestone, thousands of Australian contractors and suppliers laid almost 300 kilometres of railway, moved 12 million cubic metres of earth and rock and installed 300,000 tonnes of plant and equipment.
   
   The company also built the towns of Dampier and Tom Price, and dredged a port to accept the largest ore carriers of the day.
   
   Mr Chris Salisbury, Rio Tinto Iron Ore chief executive said that “When the MV Houn Maru set sail 50 years ago nobody could have predicted that Pilbara iron ore would underpin Australia’s economic growth.
   
   Mr Salisbury said that “The Pilbara’s vast iron ore deposits, and the people who developed them, have helped build modern Australia and some of the world’s leading economies.”
   
   He said that “Over the past 50 years Rio Tinto has invested more than $37 billion to grow our Pilbara operations. We now employ 12,000 people who operate our network of mines, rail and ports, and sell our iron ore to customers all around the world.”
   
   He added that “The relationships formed with local Pilbara communities, community and government partners, Traditional Owners, and business partners and customers have been vital to our success.”
   
   He further added that “Rio Tinto is proud to be part of Western Australia’s transformation where new communities have been created, world-leading technology developed and international relationships forged.”
   
   Source : Strategic Research Institute
9. voda 29 augustus 2016 16:56

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   Rio Tinto wants 'third party' for mining Bunder diamond mine
   
   Madhya Pradesh government admitted that mining giant Rio Tinto's decision to wrap up operations at its Bunder diamond mining project in Buxwah tehsil in Chhatarpur district is a "huge setback". The company has been working on the project for 12 years, but failed to get environmental clearance.
   
   In a brief statement, Rio Tino cited closure of project "as part of its ongoing efforts to drive shareholder value by conserving cash and cutting costs further and it has decided not to proceed with development of its Bunder project in India.
   
   The company statement said that "Though the mining major will shut its project infrastructure by end of 2016, it would want a 'third-party' investor to carry out development of the project. Rio Tinto firmly believes Bunder deposit is a high-quality discovery.
   
   But neither Madhya Pradesh government nor the multinational company has divulged details about the prospective third-party investor.
   
   Talking to TOI before leaving for United States with the chief minister on Saturday to woo investors, minister for mining and industry Rajendra Shukla termed Rito Tinto's decision to pack-up "a major setback" for the state.
   
   He said that this was a major foreign direct investment.
   
   Mr Shukla said that "Rio Tinto can only decide on the third party to carry out mining operations at Bunder as it hold mining lease."
   
   However, the mining giant is tight-lipped over the issue.
   
   He said that the "final clearance of mining lease is given only after environmental clearance which was in final stage. Forest clearance was on the verge of approval, but before that they decided to close it down."
   
   He added that "Government was not willing to give 100% clearance to 900 hectares of the forest land that the company wanted to use for mining. We will talk to the company. There may be some clarity, thereafter."
   
   Source : Times of India
10. voda 29 augustus 2016 16:57

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    WA Nationals’ iron ore tax hike plan reckless - Rio Tinto
    
    Mr Jean-Sebastien Jacques, Rio Tinto chief executive, has stepped up his attack on the West Australian Nationals’ iron ore tax hike plan, calling it reckless policy that would not be accepted by any industry in the world and would be self-defeating because it would cut royalties, tax payments and jobs.
    
    The Rio chief, who was in Perth at the weekend to celebrate the 50th anniversary of Rio’s Pilbara iron ore exports, said West Australian iron ore already was already subject to the third-highest taxes and royalties in the world, after South Africa and Zambia, and was well ahead of chief competitor Brazil.
    
    Mr Jacques said that “The WA Nationals’ iron ore triple tax plan is self-defeating — it will ultimately lead to a smaller mining sector in WA, meaning fewer royalties, company payments and jobs.”
    
    He said that “No other industry anywhere in the world would accept three major layers of taxation on one product.”
    
    The three layers of tax are Australia’s 30 per cent company tax, the current 7.5 per cent WA royalty on revenue and then the $US5 per tonne levy being proposed by WA Nationals leader Brendon Grylls on just production from Rio Tinto and BHP Billiton.
    
    Mr Jacques called the tax the biggest global risk ­facing his company. According to Minerals Council of Australia data, Australia has a combined effective iron ore tax and royalty rate of 37 per cent, compared with just 14.7 per cent in Brazil and beaten only by South Africa (38.3 per cent) and Zambia (42.8 per cent).
    
    If Mr Grylls’ proposal is put in place, at current iron ore prices it would represent an extra 8.5 per cent pre-tax charge, or roughly 6 per cent after tax, meaning Australia would rival Zambia for top place.
    
    Based on current production levels, it would cost Rio $1.65 billion a year and BHP $1.15bn before company tax.
    
    Mr Jacques said that “We have an obligation to our employees, shareholders and the wider community to vigorously oppose this damaging triple tax plan. Mining is critical to the Australian economy — it should not be put at risk by reckless policies.”
    
    Foreign Minister Ms Julie Bishop, who spoke at Rio’s 50th celebration, declined to comment on the tax on Friday night but underlined the importance of the company to the state and nation.
    
    Ms Bishop said that “Rio Tinto has played an essential role in building the Western Australian economy, our national economy our national prosperity and helping make Australia the global mining and energy super power that it is today.”
    
    Despite the Nationals holding only seven of WA’s 59 lower house seats, the threat is being taken seriously ahead of a March election that looks close and could put Mr Grylls in the position of deciding who forms government.
    
    However, iron ore prices fell $US2 per tonne on Friday night to $US59.10 but remain 38 per cent higher for the year following a stronger-than-expected performance. Most analysts and companies expect further price pressure over the rest of the year as more supply comes on.
    
    Source : Reuters
    

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11. voda 31 augustus 2016 16:46

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    BHP Billiton CEO Mr Andrew Mackenzie has bonus axed
    
    City AM reported that BHP Billiton's CEO will have his bonus scrapped this year following a fatal dam collapse at a Brazilian mine last November and the ongoing decline in global commodity markets. Company said that Mr Andrew Mackenzie, who has been at the helm of the mining giant since 2013, will receive no bonus on top of his $1.7m (£1.3m) base salary for the 2015 to 2016 financial year.
    
    He received a $2.3m bonus in the 2014 to 2015 financial year, although this was down from $3.1m the year before.
    
    BHP said the disaster last year in which a dam burst at its jointly owned Samarco Mineracao iron ore mine was a key consideration in the decision, as well as commodity price pressure.
    
    Mackenzie indicated to the board and remuneration committee that his preference would be to not receive a bonus this year in light of these events
    
    Source : City AM

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12. voda 7 november 2016 17:11

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    Rio Tinto decision to quit the world's largest undeveloped iron ore deposit
    
    Reuters reported that Rio Tinto's decision to quit the world's largest undeveloped iron ore deposit in Guinea is essentially a bet on how quickly and cheaply the new Chinese owners can develop the mine.
    
    Investors have generally welcomed the sale of the Simandou project by Rio to Chinese metals producer Chinalco for between USD 1.1 billion and USD 1.3 billion, believing it rids the world's No.2 iron ore miner of an expensive and risky project in a developing country.
    
    Rio has certainly battled to get any momentum going for the project in the West African nation, struggling to find financing for the planned 50 million tonnes a year mine, 400 kilometer railway and deepwater port.
    
    Given the price tag was likely to stretch to at least USD 20 billion, it's hardly surprising that bankers baulked at the project, especially since virtually nobody believes there is going to be a global shortage of iron ore any time soon.
    
    However, the main risk for Rio is if Chinalco is able to advance the project fairly quickly and start producing iron ore at a competitive cost.
    
    Then the Chinese company would be able to use its home-ground advantage when dealing with Chinese steelmakers, who buy about two-thirds of the global supplies of seaborne iron ore.
    
    But the longer the Simandou project takes to be completed, the more time Rio and other existing major iron ore miners such as Brazil's Vale and BHP Billiton have to enjoy their dominance of Chinese markets.
    
    While the major iron ore miners expanded capacity by too much in order to meet overly-optimistic forecasts for Chinese steel production, they are now benefiting from being high-volume, low-cost producers.
    
    Freight, taxes and other costs will double that figure, but it still means the major miners are making healthy margins given the current cost and freight price of spot iron ore in southern China is USD 64.50 a tonne. This is almost double the USD 37 that iron ore prices dropped to in December last year, which was the lowest level recorded since spot price assessments began in 2008.
    
    Iron ore's rally has been built largely on the back of firm demand from China, where some high-cost iron ore producers have been forced to shut at a time when steel output defied expectations of a drop and remained mostly flat.
    
    The country's imports of the steelmaking ingredient rose to 762.5 million tonnes in the first nine months of the year, a gain of 9.1% from the same period last year.
    
    The outlook for iron ore prices remains somewhat bright, given the last of the large new mines that have been built over the past few years are ramping up output, after which supply is largely expected to be steady.
    
    Assuming Chinese and global steel output can hold relatively stable, or even grow slightly, it's reasonable to assume that iron ore will be able to maintain prices around current levels.
    
    While Rio and the other major miners would no doubt prefer Simandou remains undeveloped, it's highly unlikely that Chinalco would pay more than USD 1 billion to buy out Rio if it didn't intend pushing ahead.
    
    Source : Reuters
13. voda 7 november 2016 17:13

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    BHPB paid tribute to Samarco tragedy
    
    One year after the Samarco tragedy, BHP Billiton CEO Andrew Mackenzie paid his respects to the people affected by the dam failure and provided an overview of the remediation work. Mr Mackenzie said that “The Samarco dam failure was a terrible tragedy and our thoughts remain with those affected. One year on, our commitment to do the right thing for the people and the environment is unwavering. Our initial priority was to support Samarco in the humanitarian response so that it was conducted as effectively as possible. Now, the emphasis has shifted to the Renova Foundation (the Foundation) which will implement the long term programs to restore the environment and rebuild the communities.”
    
    “We believe the Foundation will bring together communities and global experts to identify and deliver the best solutions for the people of Minas Gerais and Espirito Santo as well as the Rio Doce basin. Over 90 per cent of the programs have begun and the activity on the ground is extensive. More than 3,000 people have been mobilised to rebuild infrastructure, provide community and social services and prepare for the wet season.”
    
    “The restart of Samarco is important for the local economy and the several thousand people employed. Restart has to make economic sense and have a practical set of approvals and processes in place from the authorities. We will only restart when it is safe to do so.”
    
    “The findings from the external investigation into the causes of the dam failure were published in August 2016 and shared with the industry. We are creating a new global tailings dam standard for our operations. It will draw on international leading practice for the design, construction, operations and maintenance of our significant dams and also increase the use of independent reviews.”
    
    “I am determined that the experience and knowledge gained will be used to improve the safety of tailings dams globally through greater use of the world’s best science and engineering. We will use this to lift the performance of our own operations. A lot has been done in Brazil over the year and there is much still to do. Some things will take years to fully resolve but our values will continue to guide our response.”
    
    Community relocation
    We are one year into a three year program to relocate the communities most severely affected by the dam failure. Immediately after the event, Samarco provided rented houses in nearby cities to those who had lost their homes. The reconstruction and relocation programs began soon after.
    
    The Foundation is implementing a participatory process with residents from the three most severely affected communities - Bento Rodrigues, Paracatu de Baixo, and Gesteira. Each community collectively developed criteria that were used to identify potential new sites for their villages and then voted to choose their preferred option. For example, 92 per cent of the families from Bento Rodrigues chose the “Lavoura” site and the new village is expected to be ready in March 2019. They are now in the urban planning phase.
    
    On 30 October 2016, Barra Longa held a community ceremony to open the newly completed town square and river promenade, following clean-up and rebuild activities. Community members contributed to the design of the area.
    
    Compensation
    In the immediate aftermath of the dam failure, the focus was to help those who had lost relatives, homes or their livelihoods. Over 8,000 financial assistance cards have been issued to provide immediate support. Advanced compensation payments were also made to those who lost relatives, their homes or their vehicles.
    
    The Foundation has recently commenced a Compensation Program to ensure all community members who were directly impacted by the dam failure can register their details and have the opportunity to seek and receive fair and reasonable compensation for their losses in a timely manner. The program includes the administration of a mediation system, will involve a team of around 300 people in 20 communities and is expected to be completed around the middle of next year.
    
    Consultation
    More than 530 community meetings have occurred since the dam failure on a range of topics. The Foundation is planning a further series of forums and workshops over the coming months as part of its ongoing consultative process and will take into account feedback following the signing of the Framework Agreement (the agreement for remediation and compensation entered into in March 2016 between Samarco, Vale and BHP Billiton Brasil, and certain state governments and authorities). Implementation of the Agreement is predicated on extensive and effective community engagement. A social dialogue program has been established which includes physical communication posts, a freecall number, newsletters and social media. A community advisory committee will directly advise the Foundation Board. An ombudsman and grievance mechanism is also being established.
    
    River
    Remediation of the Rio Doce is expected to take three to five years of intensive work followed by several years of natural recovery and monitoring.
    
    Water testing continues at 92 points along the Rio Doce, tributaries and sites at sea and the tests confirm concentration of heavy metals are comparable with readings taken by IBAMA in 2010, which indicate the tailings are non-toxic. The results are available to regulatory agencies, government and the public.
    
    Two surveys of fish by Samarco using sonar have been conducted along reaches of the Rio Doce. Both identified the presence of fish in all areas studied, with experts concluding that it is likely that repopulation of Rio Doce fish stocks is being complemented by stocks in the tributaries. The results of these surveys have been supported by anecdotal evidence from local fisherman.
    
    However, the volume of sediment in the water remains elevated in parts of the Rio Doce. Dry season turbidity should be reduced to 100 NTU (the Brazilian national standard) within three years. The latest monitoring undertaken during the dry season downstream of Governador Valadares (approximately 350 km from the river mouth) registered readings 30 NTU, consistent with historical standards. Further work is required upstream.
    
    
14. voda 7 november 2016 17:13

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    Deel 2:
    
    We expect a significant increase in turbidity in the Rio Doce during the wet season relative to the dry season, despite the work undertaken to stabilise the tailings. A significant program of work is underway to manage remediation risks during the wet season including limiting the potential for tailings material to be washed into the Rio Doce and preventing disruption to water supplies. Additional work has focused on upgrading the water treatment plants that draw water from the Rio Doce to enhance their capacity to deal with any increase in turbidity during the wet season. Works will continue to progress longer term solutions for the remediation of areas impacted by tailings material.
    
    Cause findings and lessons shared
    The findings of an investigation into the immediate cause of the dam failure were publicly released in Belo Horizonte on 29 August 2016. Vale, BHP Billiton Brasil and Samarco jointly commissioned Clearly Gottlieb Steen & Hamilton to undertake this work with a panel of four geotechnical specialists engaged by Cleary Gottlieb to advise on the technical causes.
    
    The panel’s findings have been made public and shared with the International Council on Mining and Metals (ICMM) to build deeper technical understanding in the industry and help prevent similar events. The findings have been shared with other resource companies so that the sector can improve safety and reduce the risk associated with tailings facilities.
    
    A review of our significant dams confirmed they are stable, however as part of our determination to learn from this we have made further improvements. We have established a dam management function, bringing additional expertise to the Company and we are creating a global standard for our operations drawing on leading international science and engineering practice for the design, construction, operations and maintenance of our significant dams. We have also increased the use of independent reviews and changed the benchmark for the process for dam safety reviews in accordance with the most rigorous in the industry.
    
    A governance review has led to our non-operated minerals joint ventures being centralised under the BHP Billiton President Minerals Americas and we are designing a new global structure to strengthen safety and risk management where we are not the operator.
    
    Source : Strategic Research Institute
15. voda 24 november 2016 16:18

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    Rio Tinto stelt investeringen neerwaarts bij
    
    Mijnbouwer wil voor 5 miljard dollar aan extra vrije kasstroom genereren.
    
    (ABM FN-Dow Jones) Rio Tinto is van plan dit jaar minder te investeren in projecten, maar intensiveert wel de productiviteit. Dit meldde de Brits-Australische mijnbouwer donderdag voorbeurs.
    
    Rio Tinto, dat zich geconfronteerd ziet met aanhoudend moeilijke marktomstandigheden, streeft naar het genereren van een extra vrije kasstroom van 5 miljard dollar in de komende vijf jaar. Daarnaast zei de mijnbouwer goed op schema te liggen met het bestaande kostenbesparingsplan ter waarde van 2 miljard dollar, te behalen in 2016 en 2017.
    
    CEO Jean-Sébastien Jacques meldde voorzichtig optimistisch te zijn over China, 's werelds grootste koper van grondstoffen als ijzererts en koper, ondanks het feit dat "hervormingen om de capaciteit in de kolen- en staalsector te verminderen de markt minder voorspelbaar maakt", aldus de topman.
    
    De mijnbouwer verwacht echter dat China de komende jaren de belangrijkste motor voor de vraag naar grondstoffen zal blijven. "De onderliggende Chinese economie presteert goed", aldus Jacques. "Er wordt veel geld in de economie gestoken."
    
    's Werelds op één na grootste mijnbouwer, qua marktkapitalisatie, is van plan om in 2016 minder dan 3,5 miljard dollar te investeren in projecten, een daling van 13 procent ten opzichte van eerdere prognoses, toen het bedrijf meldde circa 4 miljard dollar te zullen besteden.
    
    Rio Tinto handhaafde de prognoses voor zijn kapitaaluitgaven in 2017 en 2018 op respectievelijk 5,0 miljard en 5,5 miljard dollar.
    
    Desinvesteringen leverden in 2016 tot dusver 1,3 miljard dollar op, waarmee het totaal aan desinvesteringen sinds 2013 inmiddels 5,3 miljard dollar bedraagt.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
    
    Copyright ABM Financial News. All rights reserved
    
    (END) Dow Jones Newswires
16. voda 2 december 2016 19:54

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    Rio Tinto response to press speculation
    
    In response to press reports regarding a US Securities Exchange Commission investigation, Rio Tinto confirms that it is cooperating with inquiries from the relevant authorities relating to the impairment included in the company’s 2012 accounts in respect of Rio Tinto Coal Mozambique.
    
    Rio Tinto acquired RTCM in 2011 and divested it in 2014. As the SEC investigation, which started in April 2013, remains ongoing it would be inappropriate to comment further at this time. The company will update the market, as required, in due course.
    
    Source : Strategic Research Institute
17. voda 2 december 2016 19:55

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    BHP Australia copper mine hit by another power outage
    
    Dec 1 BHP Billiton said that its Olympic Dam copper mine was without power for four hours due to a blackout in the state of South Australia. That marks the second time in two months that Australia's second-biggest copper mine has been brought to a standstill over power issues.
    
    BHP said that operations were resuming following the restoration of power in the wake of the overnight outage that was blamed on the failure of an interconnector, a structure used to let energy flow between networks.
    
    BHP Chief Executive Andrew Mackenzie said in a statement that "Olympic Dam's latest outage shows Australia's investability and jobs are placed in peril by the failure of policy to both reduce emissions and secure affordable, dispatchable and uninterrupted power.”
    
    A BHP spokeswoman declined to comment on any impact on production from the latest blackout.
    
    The previous blackout left the mine without power for two weeks, costing BHP an average of 567 tonnes in lost copper production a day, based on last year's output of 203,000 tonnes. That would be worth around USD 3 million a day at current metals prices.
    
    About 200,000 people were without power overnight after the state was separated from the Victorian network, according to the state's energy Minister Tom Koutsantonis.
    
    Source : Reuters
18. voda 5 december 2016 17:05

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    Rio suspends Mongolia copper shipments across Chinese border
    
    The Australian reported that Rio Tinto has suspended moving copper concentrates from its giant Oyu Tolgoi copper mine in Mongolia across the Chinese border. The indefinite suspension followed the introduction of new fees on the border between the two countries.
    
    While the new fees were seen as an attempt by regional governments to boost their coffers, they also followed a flare-up in diplomatic relations after last week’s visit of Tibetan spiritual leader, the Dalai Lama, to the Mongolian capital Ulaanbaatar.
    
    Rio operates Oyu Tolgoi which is 66% owned by its listed Canadian subsidiary and 34% by the Mongolian government.
    
    Oyu Tolgoi is the main source of revenue for Mongolia, increasing the pressure for a quick resolution of the dispute.
    
    Source : The Australian
19. voda 13 december 2016 16:59

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    Rio Tinto is on the hunt for new diamond mines
    
    Bloomberg quoted Rio Tinto Group chief executive officer Mr Jean-Sebastien Jacques as saying that he’s on the hunt for new diamond mines, but with more than half of the industry controlled by just two companies and new discoveries rare, it’s going to be a tall order.
    
    Mr Des Kilalea an analyst at RBC Capital Markets in London said that “There’s not a great deal available. It’s got to be big, but there are not a lot of those.”
    
    Mr Jacques, who became CEO of the world’s second-biggest miner in July, called diamonds a priority area in a Bloomberg Television interview on Tuesday. The strategy, part of a drive to improve the quality of Rio’s mining assets, marks a turnaround for the company that mulled exiting the diamond business just three years ago. As one of the world’s top producers of rough gems, Rio operates the large Argyle mine in Australia, which produces low-quality stones, and has a controlling stake in a Canadian mine. The question is where to find new supply.
    
    Mr Jeremy Wrathall head of commodities research at Investec in London said that “Rio might look for a trophy producer. It’s an attractive place to be. The world is running out of diamonds, it’s not running out of iron ore or copper.”
    
    One place to start could be Anglo American’s De Beers unit. The world’s biggest producer controls some of the most attractive mines. The problem is that Anglo would be unwilling to sell the business because diamonds are a core focus of its future, along with platinum and copper.
    
    The alternative could be to attempt to buy Anglo outright, but that would involve inheriting many mines Rio is unlikely to want. It may also be put off by a clause in De Beers’s agreement with Botswana, the source of three-quarters of its carats.
    
    The provision allows the nation to renegotiate the accord if the ownership of De Beers changes.
    
    At the moment, Rio’s earnings from iron ore, aluminium and copper dwarf profits from mining diamonds.
    
    Mr Paul Gait an analyst at Sanford C Bernstein said that “The diamond business has long been seen as a good business in the mining industry and a source of demand that is uncorrelated to building bridges. Rio, like most mining companies, is very heavily exposed to the early cycles of industrialisation and perhaps less exposed to the later cycles of wealth creation as economies mature.”
    
    Another place to grab a bigger share of the diamond world would be Canada, where Rio owns a 60% stake in the Diavik mine. It could either buy the remaining share from Dominion Diamond Corp, or acquire Dominion, which also runs the neighbouring Ekati mine.
    
    Source : Bloomberg
20. voda 27 december 2016 14:30

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    No 'final decisions' on BHP iron ore venture – Rio Tinto
    
    AFP reported that mining giant Rio Tinto had not made "any final decisions" on its massive iron ore joint venture with BHP Billiton after Australian media reported the deal had collapsed.
    
    However, the Anglo-Australian company said "potential obstacles" to the controversial merger of Rio and BHP's Australian iron ore operations had been discussed at a board meeting on Monday.
    
    Rio said in a statement that "The Rio Tinto board has not made any final decisions about possible outcomes or next steps relating to the proposed Rio Tinto/BHP Billiton iron ore production joint venture in Western Australia.” It added that "The board acknowledged recent communications from regulators that indicate potential obstacles to achieving clearance for the joint venture, citing negotiations with Japan, South Korea, the European Commission and Australia.”
    
    Fairfax newspapers on Wednesday reported sources close to the board had said Rio was preparing to inform BHP, the world's biggest miner and a former takeover suitor, of its decision. Rio chairman Jan du Plessis, was quoted as telling fellow directors that "They can't object to that (decision). That's kind of us stating our investment preference. They will no doubt have their own measurements and I think that's fine."
    
    The report said Rio now opposed the deal because of its improving financial performance and objections from shareholders, as well as a feeling that its terms favoured BHP.
    
    Source : AFP

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