Tag: Pilbara Mining

FMG: Gaines Takes the Reins

FMG: Gaines Takes the Reins

FMG’s third chief executive Elizabeth Gaines. All images: FMG. BY ELIZABETH FABRI THE resignation of Fortescue Metals Group (FMG) long-term boss Nev Power in February marked the end of an era for the iron ore giant. But it hasn’t taken long for new chief Elizabeth Gaines to begin paving a legacy of her own, as FMG diversifies into new markets and commodities, and advances its $US1.275billion Eliwana project. Less than six months since her promotion from chief financial officer to chief executive, Elizabeth Gaines has settled well into the FMG driver’s seat. When announced as Nev Power’s replacement back in November, it was clear Ms Gaines had some big shoes to fill – who can forget Mr Power’s resolute leadership in…

Pilbara resource rockets to 643,000oz

Pilbara resource rockets to 643,000oz

The upgraded 486,000oz Mt York deposit remains open in most directions, with potential to add further ounces both along strike and at depth. Image: Kairos Minerals. BY REUBEN ADAMS DRILLING at Kairos Minerals’ Pilbara gold project 100km south of Port Hedland has delivered a massive 290 per cent resource increase for the Mount York deposit resource to 486,000oz – with strong potential for further growth. The updated indicated and inferred resource for Kairos’ Pilbara gold project, including Mt York, Iron Stirrup and Old Faithful, has been boosted by 150 per cent to 14.4 million tonnes at 1.3g/t gold for 643,000oz. Each of the deposits remain open both along strike and at depth, providing outstanding opportunities to further increase the resource…

Rio Tinto: The Bottom Line

Rio Tinto: The Bottom Line

All images: Rio Tinto. BY ELIZABETH FABRI IT capped off a strong 2017 calendar year with $US8.8 billion in profit, but Rio Tinto is increasingly focussed on reputation and its social license to operate, both here and abroad. Rio Tinto is riding high on the back of a 90 per cent increase in net profit compared to 2016. It was a successful year on many fronts, with Rio Tinto’s iron ore division celebrating the opening of the $US338 million Silvergrass mine. Iron ore prices were also working in its favour, as China’s increased appetite for higher grade ore continues following the nation’s winter steel curtailment policy. However, like many of its peers, the company’s global ‘social license to operate’ has…

King of the Hill

King of the Hill

All images: Roy Hill. BY ELIZABETH FABRI AT last – the $10 billion Roy Hill mine has hit its 55 million tonne per annum run rate. After overcoming significant orebody challenges during ramp up, the miner is now posting tidy profits as it nears the end of a 90 day lenders test to demonstrate sustainable levels of production. It has been a rocky road to full production for Roy Hill since sending off its first shipment in December 2015. Teething issues encountered with the orebody caused a series of delays, pushing what was originally scheduled to be complete by the end of 2016, back until late 2017. It was a tough time for the miner, but after much perseverance and…

Fortescue Metals Group: Star Power

Fortescue Metals Group: Star Power

All images FMG. BY ELIZABETH FABRI NEV Power is preparing to step down after six and a half eventful years at the FMG helm – leaving some mighty boots to fill. The seasoned executive reflects on his time at FMG and the company’s next chapter, as it embarks on the $US1.5 billion Eliwana project and examines diversification beyond iron ore. Rewind the clock four or five years and it’s hard to believe FMG is the same company that stands here today. In 2012/13, the iron ore miner was staring death in the face, drowning in a $US13 billion pool of debt just as the iron ore price was continuing its slow decline to late-2015 lows of $US38/t. Many outsiders feared…

Pilbara: On the move

Pilbara: On the move

Rio Tinto’s Silvergrass iron ore operation. Image: Rio Tinto. BY CAMERON DRUMMOND IT’S been tough – but things are looking up for the Pilbara mining region, as iron ore continues to rip higher on steady Chinese demand and exciting opportunities in lithium and gold come into play. Known as the engine room of Australia, the WA Pilbara is the largest iron ore producing region in the world, accounting for almost 37 per cent of global production and 52 per cent of seaborne exports in 2015. Iron ore mining in the Pilbara commenced in the 1960s, after the Australian Government lifted an embargo on iron ore exports in 1938 in the lead up to World War II. By the 1970s, pioneering…

Atlas Iron: Back from the brink

Atlas Iron: Back from the brink

All Images: Atlas Iron. By Cameron Drummond ATLAS Iron has crawled itself back from near extinction after the price of iron ore plummeted in 2015, which subsequently forced the company to suspend its mining operations and restructure company debt after heavy financial losses. Perth-based Atlas Iron listed on the ASX in 2004, and has since grown into a mid-sized iron ore mining and exploration company. It currently operates three projects: Wodgina, Abydos and Mt Webber – all in the northern Pilbara region of WA – shipping at a run rate of about 15 million tonnes per annum (mtpa). After a rocky 2015 when the company nearly went bust, Atlas is looking to be debt free by the end of the…