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voda 3 november 2020 14:35

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Vale Update on Nickel in Q3 of 2020

Production of finished nickel was of 47.1 kt in 3Q20. Sales volumes reached 58.2 kt, an increase of 37.3%, as a result of better prices in the quarter and more stable market conditions.

Production in 3Q20 was influenced mainly by maintenance work rescheduled from 1Q20 and 2Q20 to 3Q20 in North Atlantic operations.

Source : STRATEGIC RESEARCH INSTITUTE

voda 3 november 2020 14:37

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Vale Production & Sales Report for Jul-Sep Quarter

Vale's iron ore fines production1 totaled 88.7 Mt, an increase of 21.1 Mt compared to the previous quarter. The production record of 56.9 Mt in a quarter was reached in the Northern System, with August as the best month with 19.7 Mt. S11D had a record production in September, with 8.3Mt, and in the quarter, with 24.4 Mt. The Southern and Southeastern Systems overall performance improved across operating units, notably in the Itabira Complex and Timbopeba mine (running for a full quarter given the resumption in June) and with the resumption of operations at Fazendão mine in July. Iron ore production was maintained at around 1 Mtpd after mid-July, showing consistency and stability throughout almost the entire quarter. Operations have achieved increased rates and stability with safety, based on the progressive implementation of the VPS and measures like the Safe Work Permission, which are essential to transform Vale's culture into one driven to safety and operational excellence. All operations were also favored by regular weather conditions for the period.

Vale's pellet production totaled 8.6 Mt in 3Q20, up 21.1%, mainly due to higher availability of pellet feed, especially from the Itabira Complex, and improved operational performance at the pelletizing plants.

Production of finished nickel was of 47.1 kt in 3Q20, while sales volumes reached 58.2 kt, an increase of 37.3%, as a result of better prices in the quarter and more stable market conditions. Production in 3Q20 was influenced mainly by (i) maintenance work rescheduled from 1Q20 and 2Q20 to 3Q20 in North Atlantic operations, which will pave the way for higher production rates going into the fourth quarter, (ii) a longer route to market associated with PTVI's product portfolio management and (iii) a temporarily spike in VNC source production in 2Q20 as all of the remaining nickel oxide feed inventory was processed in that quarter.

Copper production reached 87.6 kt in 3Q20, higher than the previous quarter, mainly due to the successful resumption of Voisey's Bay operations after the care and maintenance period in 2Q20, and stronger performance at South Atlantic operations. A stronger performance is expected in 4Q20 at South Atlantic operations with the reduction of COVID-19-related impacts on operations and maintenance routines.

Coal production restarted in July, after decelerating since April and temporarily stopping in June, given strong slowdown in demand. Production in 3Q20 reached 1.4 Mt and, as the flow of goods, services and people start to normalize in the region, Vale mobilizes teams to resume the 3-month maintenance plan revamp in November 2020, after which a ramp up to 15 Mtpy run- rate production is expected.

Source : STRATEGIC RESEARCH INSTITUTE

voda 14 december 2020 13:22

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Rio Tinto Ore Reserve at Jadar Lithium Borates Project

Rio Tinto has disclosed to the Australian Securities Exchange a maiden Ore Reserve and updated Mineral Resource at the 100% owned Jadar lithium-borates project in western Serbia. The Ore Reserve is 16.6 million tonne at 1.81% Li2O and 13.4% B2O3. The Mineral Resource comprises 55.2 million tonne of Indicated Resource at 1.68% Li2O and 17.9% B2O3 with an additional 84.1 million tonne of Inferred Resource at 1.84% Li2O and 12.6% B2O3. The update precedes the release of the project’s ‘Elaborate of Resources and Reserves’, reporting required under the Serbian Reporting Code YU53/79. Declaration of resources and reserves is an important milestone as the project progresses towards the award of an exploitation license, the precursor to a construction licence.

Pre-feasibility studies have shown that the Jadar project has the potential to produce both battery grade lithium carbonate and boric acid. The deposit is located on the doorstep of the European Union, one of the fastest growing electric vehicle markets in the world, and has the potential to provide lithium products into the EV value chain for decades. Boric acid is, a key raw material for advanced glass and fertilizer products and would be integrated with and complimentary to Rio Tinto’s established position in this market. The scale and high grade nature of the Jadar mineralisation provides the potential for a long life operation in the first quartile of the industry cost curve for both products.

The project under study consists of an underground mine, sustainable industrial processing and waste facilities as well as associated infrastructure. Jadar, one of the largest greenfield lithium projects in development, would be capable of producing approximately 55 thousand tonnes of battery grade lithium carbonate, as well as 160 thousand tonnes of boric acid (B2O3 units) and 255 thousand tonnes of sodium sulfate as by-products per annum. It represents a significant investment for Serbia with both direct and indirect economic benefits, and would become the country’s second largest exporter.

At the end of July 2020, the project moved into feasibility study, with an investment of almost $200 million on a scope that includes detailed engineering, land acquisition, workforce and supply preparation for construction, permitting and the early infrastructure development. The feasibility study is expected to be complete at the end of 2021 and, if approved, construction could take up to 4 years.

Source - Strategic Research Institute

voda 17 december 2020 07:34

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Rio Tinto benoemt nieuwe CEO

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Rio Tinto PLC
£ 55,49 0,00 0,00 % London Stock Exchange
Rio Tinto PLC (DE)
61,74 0,00 0,00 % Frankfurter Wertpapierbörse (Xetra)

(ABM FN-Dow Jones) Rio Tinto heeft financieel directeur Jakob Stausholm aangesteld als CEO en vervanger van Jean-Sébastien Jacques. Dit maakte de Brits-Australische mijnbouwgroep donderdag bekend.

Jacques stapte op na een omstreden beslissing om 46.000 jaar oud Aboriginal-erfgoed op te blazen eerder dit jaar.

Rio Tinto liet weten dat Stausholm een centrale rol heeft gespeeld in het versterken van de balans en het realiseren van rendement voor aandeelhouders.

Per 1 januari 2021 zal Stausholm de rol van CEO op zich nemen. Jacques verlaat per 31 maart Rio Tinto.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 18 december 2020 14:45

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Rio Tinto Advances Climate Partnership with China Baowu Steel

Rio Tinto has committed to invest USD 10 million with the world’s largest steel producer China Baowu Steel Group over the next two years in low-carbon steelmaking projects and research. This investment is the next step in advancing the partnership formed between Rio Tinto, China Baowu and Tsinghua University in 2019 to develop and implement new methods to reduce carbon emissions and improve environmental performance across the steel value chain.

Rio Tinto’s investment will fund the joint establishment of a Low Carbon Raw Materials Preparation R&D Centre, which will initially prioritise the development of lower carbon ore preparation processes. This will include creating two ore preparation pilot plants, one to use biomass and the other exploring using microwave technology. The investment will also support work on carbon dioxide utilisation and conversion at the China Baowu Low Carbon Metallurgical Innovation Centre, which is a Baowu-led open platform for advancing metallurgical technologies to support the low-carbon transformation of the steel industry.

These investments will advance technologies that will be crucial in reducing emissions from China’s prevalent iron and steel making process, and will support both the short and long term decarbonisation goals of the steel industry. As the world’s largest steel producer, China Baowu’s leadership in advancing low-carbon steel solutions is an important pillar in supporting China’s target of striving to be carbon neutral by 2060.

Source - Strategic Research Institute

voda 18 december 2020 14:48

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Rio Tinto & Nippon Steel Sign Climate MOU

Leading global mining and metals company Rio Tinto and Nippon Steel Corporation have signed a Memorandum of Understanding to jointly explore, develop and demonstrate technologies to transition to a low carbon emission steel value chain. With this MoU, Rio Tinto and Nippon Steel are looking to enhance their long standing relationship by extending it into new areas in support of the shared goal of significantly reducing carbon emissions across the entire steel value chain. The purpose of this partnership is to explore a breadth of technologies for decarbonisation of the entire steel value chain from iron ore mining to steelmaking, including integrating Rio Tinto's iron ore processing technology and Nippon Steel's steelmaking technology to establish an innovative steel manufacturing process with low carbon emissions.

The partners have agreed to a partnership model in line with the long-term and complex nature of the transition to carbon neutrality for the steel industry. This model allows the partners to take a long-term view to enable the pursuit of new and promising technologies as the global steel transition evolves.

Rio Tinto and Nippon Steel share a long history of working together, with the first shipment of iron ore from Australia to Japan coming from Rio Tinto’s Pilbara operations in 1966 and going to Yawata Works in Kitakyushu, now part of Nippon Steel.

Japan’s recent announcement of its commitment to realise a carbon-neutral society by 2050 has given Japanese companies even greater impetus to accelerate their decarbonisation activities. The intent of this partnership is in line with Japan’s climate ambition.

Source - Strategic Research Institute

voda 21 december 2020 11:04

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Rio Tinto Expands Aluminum Recycling Capacity at Laterriere Plant

Rio Tinto is investing CAD 8.4 million to expand the recycling capacity of its aluminium operations in Saguenay-Lac-Saint-Jean, Quebec, to offer rolled product customers in North America a new, sustainable solution combining low-carbon and recycled aluminium. A new remelt furnace will be added at the Laterrière Plant’s casting centre to recycle aluminum cuttings from Rio Tinto’s operations and rolling mill customers in manufacturing sectors, producing rolling ingots for the automotive and packaging industries.

With an initial capacity of 22,000 metric tons of remelted aluminum per year, the new aluminum recycling system is expected to be operational at the end of 2021.

Rio Tinto’s technical marketing experts will assist customers in selecting the right recycled content together with the optimal alloy for their specific needs.

The rolled product recycling service will complement the closed looped solution Rio Tinto is offering to billet customers from 2021, providing high quality alloys made of low carbon primary aluminium and recycled content.

Source - Strategic Research Institute

voda 21 december 2020 11:05

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Vale to Formalize Sale of Vale New Caledonia

Vale informed that its subsidiary Vale Canada Limited has signed a binding put option agreement for the sale of its ownership interest in Vale Nouvelle-Calédonie. In November, Vale announced a period of exclusivity for negotiations with a consortium gathered in a new company called “Prony Resources”, led by current Vale New Caledonia management and employees and supported by both the Caledonian and French authorities with Trafigura as a minority shareholder. Today’s news signals the success of those discussions on the transition and continuity of VNC operations from VCL to a new ownership structure with significant domestic participation and that takes into account the aims of social and environmental responsibility, especially the launching of the dry stacking project called Lucy. It also guarantees continued fulfillment of all commitments in the Pact for Sustainable Development of the Great South, maintaining the sustainable benefits delivered to New Caledonia and especially to the Kanak population of the Grand Sud.

The proposed transaction, which is scheduled for completion in the first quarter of 2021 and as to which a reserve of USD 500 million will be reflected on Vale’s consolidated financial statements, is subject to consultation with the VNC works council and other conditions, including approvals by Caledonian authorities and the French State.

Vale reaffirms its commitment with its shareholders to transform the Base Metals business, simplifying its operations flowsheet going forward and enabling a continuous focus on core assets, while also honoring its new pact with society, contributing to the maintenance of a sustainable environment for safe operations continuity.

Source - Strategic Research Institute

voda 19 januari 2021 12:34

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Beursblik: Rio Tinto gaat positief verrassen met dividend

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Rio Tinto PLC
£ 59,79 0,05 0,08 % London Stock Exchange
Rio Tinto PLC (DE)
67,45 -0,48 -0,71 % Frankfurter Wertpapierbörse (Xetra)

(ABM FN-Dow Jones) Rio Tinto heeft in 2020 conform de verwachtingen gepresteerd, maar zal positief verrassen met het dividend. Dit stelden de analisten van Bank of America dinsdag.

De productie steeg in 2020 volgens het mijnbedrijf met 2 procent tot 333 miljoen ton.

Rio Tinto zal op 17 februari met de volledige jaarcijfers komen en de aandacht zal dan vooral uitgaan naar het dividend, aldus de analisten.

Het slotdividend zal volgens de zakenbank 3,95 dollar per aandeel bedragen, terwijl de consensus slechts op 3,30 dollar rekent. Dat komt omdat Bank of America veel positiever is over de winstontwikkeling van Rio Tinto. Gemiddeld zit de bank een derde hoger dan de consensus voor 2021 en 2022.

Bank of America handhaafde dan ook het koopadvies en rekent op een verhoging van de consensus.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 21 januari 2021 15:57

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BHP Reports 6% YoY Rise in Iron Ore Production in H1

Australian miner BHP Billiton has announced its production results for October-December 2020 quarter & the first half of the financial year 2020-21 ended December 31. The company’s iron ore output in the October-December quarter 2020 totaled 62.4 million tonnes up by 6% QoQ and 128.4 million tonnes in the first half of the financial year 2020-21 up by 6% YoY. BHP Chief Executive Officer Mr Mike Henry said “BHP delivered strong safety and operational performance in the first half of the 2021 financial year, including record production at Western Australia Iron Ore and concentrator throughput at Escondida.”

WAIO production increased by six per cent to a six month record 128 million tonnes (145 million tonnes on a 100 per cent basis), reflecting record production at Jimblebar and strong performance across the supply chain, with significant improvements in car dumper productivity and reliability. This was partially offset by weather impacts and the planned Mining Area C and South Flank major tie-in activity. Production in the March 2021 quarter is expected to be impacted by planned Ore Handling Plant maintenance across the mines and continued Mining Area C and South Flank tie-in activity.

Samarco re-commenced iron ore pellet production in December 2020 after meeting the licencing requirements to restart operations at the Germano complex in Minas Gerais and Ubu complex in Espirito Santo, Brazil. Samarco's operations were suspended following the failure of the Fund3o dam on 5 November 2015. Samarco's gradual restart of operations incorporates one concentrator at the Germano complex and a pelletising plant at Ubu, as well as a new system of tailings disposal combining a confined pit and tailings filtering system for dry stacking. Production for the 2021 financial year is expected to be between 1 and 2 million tonnes. Production capacity of approximately 8 million tonnes per annum (100 per cent basis) is expected once ramped up.

Guidance for the 2021 financial year has increased to between 245 and 255 million tonnes, reflecting the restart of Samarco in December 2020 (between 1 and 2 million tonnes).

Source - Strategic Research Institute

voda 21 januari 2021 16:00

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BHP Coking Coal Output Dips in H1 of 2020

In the first half of the financial year 2020-21, BHP Billiton’s metallurgical coal production decreased by 5% YoY to 19 million tonnes. The miner's metallurgical coal production guidance for the financial year 2020-2021 has remained unchanged and stands at between 40 million tonnes and 44 million tonnes, with a stronger second half performance. Volumes are expected to be in the lower half of the guidance range following significant wet weather impacts during the December 2020 quarter. The company continues to monitor for any potential impacts on volumes from restrictions on coal imports into China.

Company said it would take a write-down of between AUD 1.15 billion and AUD 1.25 billion on its New South Wales Energy Coal assets, reducing its value to between AUD 250 million and AUD 350 million. BHP said the impairment reflected current market conditions for Australian thermal coal. It also named weakness in the Australian dollar, changes to the mine plan and an updated assessment of the likelihood of recovering tax losses as secondary reasons for the charge. The Australian coal industry has been rocked by China’s decision to ban imports believed to be in retaliation for Canberra’s call for an international probe of the origins of the coronavirus pandemic.

Production guidance for the 2021 financial year remains unchanged for metallurgical coal at between 40 and 44 million tonnes (71 and 77 million tonnes on a 100 per cent basis) with a stronger second half performance projected.

Source - Strategic Research Institute

voda 26 januari 2021 10:26

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Vale to Acquire Stake in Moatize & NLC to Exit Coal Business

Vale has signed a Heads of Agreement with Mitsui, allowing both parties to structure Mitsui's exit from the Moatize coal mine and the Nacala Logistics Corridor, as a first step towards Vale's divestment of the coal business. The transaction is in line with the Company's focus on its core businesses and ESG agenda, committed to becoming carbon-neutral by 2050 and reducing 33% of its scopes 1 and 2 emissions by 2030. The agreement establishes the main terms for the acquisition by Vale of the totality of Mitsui's stakes of 15% in the Moatize mine together with 50% in the equity and all other minority credits Mitsui holds on NLC. The parties' objective is that Mitsui's exit can be completed throughout 2021, which is subject to the execution of the definitive agreement and usual conditions precedent in this sort of transaction.

The HoA determines that Vale will acquire Mitsui's stake in the mine and logistics assets for USD 1 each. Upon closing of the transaction, Vale will consolidate NCL entities and, therefore, all of their assets and liabilities, including the Nacala project finance, which has approximately USD 2.5 billion outstanding balance. Consolidation of the Project Finance will imply that approximately USD 300 million per year in operating expenses at the Moatize mine, associated with the Nacala Corridor tariff and which currently impact the Coal Business EBITDA, will be reclassified to financial expenses, debt amortization, sustaining capital and others, with an equivalent increase in the Coal Business EBITDA. Future refinancing of the Project Finance and simplification of the structure will lead to potential annual savings of approximately USD 25 million.

Following the acquisition of Mitsui's stakes and, hence, the governance and asset management simplification, Vale will begin the process of divesting its participation in the coal business, which will be guided by the preservation of the operational continuity of the Moatize mine and the NLC, through the search for a third party interested in those assets.

Vale has been implementing two initiatives that are expected to produce sustainable results at the Moatize mine: a new mining plan and a new operational strategy for the coal processing plants. The new mining plan prioritizes ore bodies of better quality and has a better stripping ratio, which is expected to result in a better product mix and cost reduction, as an outcome of investments made in the last 3 years in an intense drilling campaign, aiming a better knowledge of resources and reserves. The two processing plants will be revitalized and adapted to a new flowsheet, which has been under implementation since November 2020. Once fully executed, Vale expects to resume the ramp-up, reaching a production rate of 15 million tonnes per year in 2H21 and 18 15 million tonnes per year in 2022.

Source - Strategic Research Institute

voda 4 februari 2021 20:54

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Mijnbouwer Vale betaalt miljarden aan schadevergoedingen na dambreuk

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Vale SA
14,10 0,34 2,47 % Bolsa de Madrid

(ABM FN-Dow Jones) De Braziliaanse mijnbouwer Vale betaalt omgerekend 7 miljard dollar aan schadevergoedingen aan de Braziliaanse deelstaat Minas Gerais na een dodelijke dambreuk begin 2019. Dit werd donderdag bekend.

Bij het ongeluk kwamen 270 mensen om het leven, raakten rivieren vervuild en werd het omliggende landschap weggespoeld.

De schikking is de grootste in de Braziliaanse geschiedenis en moet deelstaat Minas Gerais compenseren voor sociaal-economische en milieuschade.

Mijnbouwer Vale zal vanwege de schikking een extra afschrijving doen van 3,7 miljard dollar in boekjaar 2020.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 11 februari 2021 09:35

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BHP & JFE Steel to Decarbonise Steel Industry

Australian iron ore giant BHP has signed a memorandum of understanding with leading Japanese steel producer, JFE Steel, to jointly study technologies and pathways capable of making material reductions to greenhouse gas emissions from the integrated steelmaking process. BHP is prepared to invest up to US$15 million over the five year partnership, which builds on the strong history of technical research and collaboration between the two companies. BHP’s investment will be funded under its USD 400 million Climate Investment Program, set up in 2019 to coordinate and prioritise projects, partnerships, R&D and venture investments to reduce Scope 1, 2 and 3 emissions, invest in offsets and support development of technologies with the highest potential to impact change.

The JFE-BHP partnership will focus on the role of Australian raw materials to help to increase efficiency and reduce emissions from the blast furnace and direct reduced iron steel making routes. The partnership intends to study the properties of raw materials, with focus on specific areas such as iron ore pre-treatment, use of enhanced iron ore lump, high quality coke and DRI, required to decrease iron and steelmaking emissions and support a transition to a low carbon future. Throughout the collaboration the two companies will also share knowledge on reducing carbon emissions across the steel value chain.

This JFE-BHP partnership follows other BHP investments to support the reduction of value chain emissions, including up to USD 35 million for the collaboration with China’s largest steelmaker, China Baowu, and awarding BHP’s first LNG fuelled Newcastlemax bulk carriers contract, with the aim to reduce CO2 emissions by 30% per voyage.

Source - Strategic Research Institute

voda 16 februari 2021 08:45

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Glencore ziet verlies sterk toenemen

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Glencore PLC
£ 2,7975 0,00 0,00 % London Stock Exchange
Glencore PLC -OTCPK-
$ 3,72 0,03 0,81 % OTC USA

(ABM FN-Dow Jones) Glencore heeft in 2020 het verlies zien toenemen door de nodige afboekingen, onder meer gerelateerd aan de overname van Mopani. Dit meldde het Zwitserse grondstoffen- en mijnbouwconcern dinsdag voorbeurs in voorlopige jaarcijfers.

"De coronacrisis vormt een buitengewone uitdaging en blijft een impact houden op veel aspecten in het dagelijkse leven", aldus CEO Ivan Glasenberg in een toelichting. "In dit licht presteerden we in 2020 onderliggend sterk."

De omzet daalde met ruim een derde naar 142 miljard dollar en Glencore boekte in 2020 een aangepast bedrijfsresultaat (EBITDA) van 11,6 miljard dollar, grofweg gelijk aan het resultaat in 2019. Het concern profiteerde van een sterk herstel van de grondstofprijzen in de tweede helft van 2020. Bovendien presteerden de divisies Marketing en Industrial metals sterk, terwijl de zwakkere steenkoolprijzen het resultaat juist drukten.

Onder de streep resteerde een verlies van 1,9 miljard dollar tegenover een verlies van 404 miljoen dollar een jaar eerder, een verschil van maar liefst 371 procent. Per aandeel betekende dit een verlies van 0,14 dollar tegen 0,03 dollar een jaar eerder. Het concern moest enkele afboekingen doen ter waarde van 5,9 miljard dollar, vooral gerelateerd aan de overname van Mopani, maar ook aan de Colombiaanse kolen- en Afrikaanse olieportefeuille.

De nettoschuld daalde met 10 procent van 17,6 miljard dollar naar 15,8 miljard dollar. Daarmee bleef Glencore binnen de eigen doelstelling van 10 tot 16 miljard dollar. Tegen eind 2021 moet de schuld onder het midden van de afgegeven bandbreedte zitten.

Verder liet Glencore weten de laatste afspraken te hebben gemaakt om de overname van Mopani te kunnen realiseren. De overname zal vermoedelijk in het tweede kwartaal van 2021 worden afgerond.

Glencore wil weer een dividend voorstellen van 0,12 dollar per aandeel.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 16 februari 2021 08:45

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Mijnbouwer BHP profiteert van hoge prijzen ijzererts

Gepubliceerd op 16 februari 2021 08:09 | Views: 481

ArcelorMittal 15 feb
19,53 0,00 (0,00%)

LONDEN (ANP/AFP) - Mijnbouwbedrijf BHP heeft in de eerste helft van zijn gebroken boekjaar zijn winst fors weten te verhogen. Het bedrijf profiteerde optimaal van de gestegen prijzen voor ijzererts en dolf daar bovendien een recordhoeveelheid van in zijn mijnen in het westen van Australië.

Topman Mike Henry is optimistisch. BHP kan volgens hem profiteren van het doorgaande herstel en de groei van de wereldeconomie. Ook de energietransitie biedt kansen voor BHP, dat metalen levert die bijvoorbeeld in windturbines en accu's voor elektrische auto's wordt gebruikt.

Wel had de Brits-Australische mijnbouwer last van een handelsruzie tussen Australië en China. Daardoor namen Chinese staalbedrijven niet zoals normaal kolen af waarmee cokes kunnen worden gemaakt. Dat is de brandstof waarmee hoogovens worden opgestookt. Door het wegvallen van de Chinese vraag daalden de prijzen. Wel wist BHP andere afnemers te vinden. Henry denkt dat China op termijn weer gewoon Australische kolen wil hebben, omdat die van hogere kwaliteit zijn.

De onderliggende winst van BHP ging met een zesde omhoog tot 6 miljard dollar. De nettowinst daalde juist tot 3,9 miljard dollar, mede door toedoen van een afschrijving van 1,6 miljard dollar op de kolentak. Die afwaardering had met name betrekking op kolen die kwalitatief minder zijn en waar geen cokes van kunnen worden gemaakt maar die bijvoorbeeld in kolencentrales worden verstookt. Daar wil BHP onder druk van het klimaatakkoord van Parijs langzaamaan vanaf.

voda 17 februari 2021 07:39

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Rio Tinto verhoogt dividend

(ABM FN-Dow Jones) Rio Tinto gaat een dividend over 2020 uitkeren van 5,57 dollar per aandeel. Dit maakte het Britse mijnbouwbedrijf woensdag bekend.

Het dividend ligt 26 procent hoger dan over 2019 en Rio Tino laat daarmee 72 procent van de winsten terugvloeien naar de aandeelhouders.

De nettowinst bedroeg eind 2020 9,8 miljard dollar, ofwel een stijging van 22 procent op jaarbasis. De vrije kasstroom steeg met 3 procent van 9,2 miljard naar 9,4 miljard dollar.

CEO Jakob Stausholm van Rio Tinto wees in een toelichting onder meer op de sterke grondstoffenprijzen.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 17 februari 2021 08:16

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Rio Tinto, Paul Wurth & SHS on Make Low Carbon Iron in Canada

Rio Tinto, Paul Wurth SA and Stahl Holding Saar GmbH & Co have signed a Memorandum of Understanding to explore the production of a low carbon steel feedstock. This partnership brings together a leading global miner, an international leader in the design and supply of engineering solutions for integrated steelmakers and one of Europe’s best known steelmakers. The partnership will explore the viability of transforming iron ore pellets into low carbon hot briquetted iron, a low carbon steel feedstock, using green hydrogen generated from hydro electricity in Canada.

The parties will conduct a feasibility study into the potential development of industrial scale low-carbon iron production in Canada, utilising the combined expertise of the three partners across the entire steel value chain. The feasibility study is scheduled for completion in late 2021, with an investment decision on a hydrogen based direct reduction plant at industrial scale expected to follow thereafter.

Iron Ore Company of Canada, in which Rio Tinto holds a majority interest, will supply high-grade iron ores and expertise in mining, processing and pelletising. Paul Wurth brings expertise in plant building and process knowledge in the field of highly efficient hydrogen generation and Midrex direct reduction plants. SHS brings deep iron and steel making expertise.

Rio Tinto’s significant presence in the Canadian provinces of Quebec and Newfoundland and Labrador makes Canada a natural location for the project. Canada provides access to cost competitive hydro-electricity, and proximity to key markets in Europe and North America. Transforming high-grade iron ore pellets into a low-carbon steel feedstock using green hydrogen, when processed in an electric arc furnace with carbon free electricity, has the potential to reduce significantly the carbon emissions associated with steelmaking.

Source - Strategic Research Institute

voda 3 maart 2021 03:53

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Rio Tinto & Landsvirkjun Sign Power Agreement for ISAL Smelter

Rio Tinto has last month reached agreement on an amended power contract that will allow the ISAL aluminium smelter in Iceland to continue operating with an improved competitive position. The agreement with power supplier, Landsvirkjun, will deliver a more competitive power price and energy flexibility that is mutually beneficial for both ISAL and Landsvirkjun. Rio Tinto Aluminium chief executive Mr Alf Barrios said “We are pleased to have reached an agreement on a power price that, coupled with improved efficiencies we have delivered at the site, makes ISAL more competitive. This provides a stronger footing to continue operations at the smelter and gives increased security for the team at ISAL, who have been doing an outstanding job in challenging conditions. We will continue to work to strengthen ISAL’s future in order to keep supplying low carbon aluminium to customers in Europe and North America, and making a significant contribution to Iceland’s economy.”

In parallel to the new agreement, Rio Tinto has decided to withdraw a complaint filed with the Icelandic Competition Authority in July 2020 regarding the energy supply for ISAL.

ISAL aluminium smelter in Hafnarfjorour in Iceland began operations in 1969. Today, it produces 184,000 tonnes of some of the highest quality, lowest carbon footprint aluminium in the world, with 100% of our electricity generated from clean, renewable hydropower, supplied by the power company Landsvirkjun. ISAL is wholly-owned by Rio Tinto and employs around 500 workers on site.

Source - Strategic Research Institute

voda 3 maart 2021 03:54

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Aboriginal Heritage Site at BHP South Flank Iron Ore Mine Damaged

ABC reported that Australian Mining giant BHP has reported damage to a culturally significant site near South Flank mine in Pilbara region. The rock shelter, a registered heritage site on Banjima country, was disrupted by a rockfall which was identified by BHP at its Mining Area C operations in late January. BHP President for Minerals Australia Mr Edgar Basto said the company discovered fallen rocks near its mining operations on Banyjima land in January, but it is unclear whether mining caused the damage. Mr Basto said “On 29 January 2021, as part of monitoring in the Pilbara region of Western Australia, we identified a rock fall at a registered Banyjima site. This site is not part of current mining operations and the cause of the rock fall is not known.”

A Banyjima Native Title Aboriginal spokesperson said traditional owners were working with BHP to investigate the incident. They said “Banyjima’s South Flank Heritage Committee met with BHP executives on 11 February to process the investigation.”

The heritage site was first recorded in 2005 with the Traditional Owners of the land, the Banjima. The site does not contain rock art or archaeological deposits, and could not be dated.

Fellow mining giant Rio Tinto faced global condemnation last year after blowing up the 46,000 year old Juukan Gorge rock shelters in the Pilbara to extract AUD 188 million worth of high-grade iron ore. The incident devastated the Traditional Owners, the Puutu Kunti Kurrama and Pinikura people, and prompted enormous investor backlash, a scathing parliamentary inquiry and the resignation of Rio's CEO and two other executives.

Source - Strategic Research Institute

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