Fortescue Metals Group has hit its iron ore shipments target for the 2017 financial year, while also reducing its cash costs to a record low.
Fortescue Metals Group does not expect a court ruling that went against the company in favour of an Indigenous group will have any impact on its performance.
Iron ore has soared through $US70 a tonne for the first time since April. In overnight trading iron ore continued a recent rise in value, improving by 2 per cent to finish at $US70.24 a tonne.
A 2.6 billion-year-old rock has travelled almost 14,000km from Western Australia’s Pilbara region to London to feature in an exhibition at the Natural History Museum (NHM).
Iron ore miner Fortescue Metals Group has extended its mining services contract with Thiess at the Solomon Hub in the Pilbara region of Western Australia.
Iron ore prices exploded overnight, increasing by more than 5 per cent. In the largest one-day gain for the commodity in more than four months, iron ore finished trading at $US59.70 a tonne – or 5.2 per cent higher.
Australian Government-owned Clean Energy Finance Corp (CEFC) has emerged as a cornerstone investor in lithium aspirant Pilbara Minerals, which is developing the Pilgangoora project.
BHP is moving ahead with development of the South Flank iron ore project as a potential replacement for production from the ageing Yandi operation in the Pilbara region of Western Australia.
Mining services company Brierty has confirmed that its Western Turner Syncline Stage 2 (WTS2) iron ore contract with Rio Tinto in the Pilbara region has been suspended and it has received a notice of default.
Atlas Iron is halting development of its $53 million Corunna Downs project in the Pilbara region due to the recent fall in iron ore prices.
Australian Maritime Systems Group (AMSG) has been awarded a contract by Chevron to design and install a new vessel tracking service (VTS) system to manage shipping to and from the Gorgon LNG project on Barrow Island, 60km off the north-west coast of Western Australia.
Communications provider Swift Networks has won a material contract to design and construct a remote networking solution at Rio Tinto’s Hope Downs workers’ village in the Pilbara of Western Australia.
Civmec last week secured an engineering, procurement and construction (EPC) contract with Alcoa, as well as other new construction and maintenance contracts for resources clients, worth a combined $90 million.
The Queensland department of natural resources and mines (DNRM) has granted the final heritage approval for Carbine Resources’ Mount Morgan gold copper project, southwest of Rockhampton.
Rio Tinto plans to invest $30.9 million to complete the project feasibility study for the development of its Koodaideri iron ore deposit in the Pilbara region of Western Australia.
Drill and blast services company Westdrill has been fined $10,000 in Perth Magistrates Court for two mine safety breaches at Mineral Resources’ Iron Valley mine in the Pilbara.
Pilbara Aboriginal business Pindari has been awarded a long-term facilities management contract by Rio Tinto.
BBI Group, which is developing the $6 billion Balla Balla infrastructure project in the Pilbara of Western Australia, has secured an agreement to acquire the Weelumurra iron ore asset from Mineral Resources (MinRes).
Civmec has secured a contract to construct the civil component of Altura Mining’s Pilgangoora process plant, one of three major contracts awarded for the Pilgangoora lithium project in Western Australia.
Fortescue Metals Group has tapped into strong support from investors to complete a $US1.5 billion ($2.04 billion) bond offering.