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  1. forum rang 10 voda 27 mei 2020 16:42
    Rio Tinto Blasts Aboriginal Heritage Sites in Pilbara

    A sacred site in Western Australia that showed 46,000 years of continual occupation and provided a 4,000-year-old genetic link to present-day traditional owners has been destroyed in the expansion of an iron ore mine. Sydney Morning Herald reported that Aboriginal heritage sites of major significance have been destroyed in Western Australia in Pilbara, with a mining company having obtained legal permission to blast the sites before the sites’ full riches were uncovered. Juukan Gorge is 60 kilometres north-west of Mount Tom Price on the west Hamersley Plateau, which Aboriginal people first occupied more than 46,000 years ago. It is also the site of the Brockman 4 iron ore mine. This cave in the Juukan Gorge, dubbed Juukan 2, was destroyed in a mining blast on Sunday. Consent was given through outdated Aboriginal heritage laws drafted in 1972.

    PKKP Aboriginal Corporation said that they tried to negotiate to stop the blast or at least limit damage to the shelters, but it was impossible and unsafe to remove live charges. It said “Our people are deeply troubled and saddened, grieving the loss of connection to our ancestors as well as our land. Losing these rock shelters is a devastating blow. There were less than a handful of known Aboriginal sites in Australia as old as this; studies had shown it was one of the earliest occupied locations not only on the western Hamersley Plateau, but also in the Pilbara and nationally.”

    Rio Tinto has long known that a group of Juukan rock shelters held heritage significance, but deemed them too close to the ore body to avoid. In the process of pursuing ministerial consent to blast an Aboriginal heritage site, Rio Tinto consulted traditional owners and carried out archaeological and ethnographic surveys over a 10-year period to identify places of significance before finally receiving the ministerial consent in 2013. In 2014 the company funded a salvage mission at two of the rock shelters to safeguard any artefacts as a final measure, but the dig turned up finds whose significance exceeded all expectations. Archaeologist Michael Slack found grinding and pounding stones and a 28,000-year-old tool made from bone, each one of the oldest examples of these technologies known in Australia; and a piece of a 4000-year-old plaited hair belt whose DNA has been linked to that of today’s Puutu Kunti Kurrama and Pinikura traditional owners.

    Source : Strategic Research Institute
  2. forum rang 10 voda 8 juni 2020 08:38
    Prijs ijzererts omhoog na stilleggen mijn van Braziliaans Vale

    Gepubliceerd op 8 juni 2020 08:30 | Views: 156 | Onderwerpen: Brazilië

    ArcelorMittal 05 jun
    10,45 0,00 (0,00%)

    SINGAPORE (AFN/BLOOMBERG) - De prijs van ijzererts zat maandag in de lift nadat de Braziliaanse mijnbouwer Vale de werkzaamheden bij een grote ijzerertsmijn moest stilleggen vanwege een uitbraak van het coronavirus onder werknemers.

    De prijs van een ton ijzererts steeg maandag in Singapore met 6 procent tot meer dan 103 dollar, het hoogste niveau sinds augustus vorig jaar. Een rechtbank dwong Vale de werkzaamheden bij het Itabira-mijnbouwcomplex te onderbreken nadat 188 werknemers positief hadden getest op het virus. Die ijzerertsmijn is goed voor ongeveer 10 procent van de productie van Vale. Het bedrijf moet nu eerst voldoen aan bepaalde veiligheidsregels voordat de activiteiten weer hervat mogen worden.

    Vale waarschuwde dat op de Braziliaanse markt mogelijk tekorten aan ijzererts kunnen ontstaan. Het bedrijf houdt wel vast aan zijn productieverwachtingen voor het gehele jaar. Overigens zijn de verschepingen van ijzererts vanuit Australië sterk aan het stijgen.
  3. forum rang 10 voda 17 juni 2020 09:46
    Mr Lamont Appointed as Chief Financial Officer of BHP

    BHP Chief Executive Officer Mike Henry announced the appointment of David Lamont as Chief Financial Officer of BHP, effective 1 December 2020. As CFO, Mr Lamont will also join BHP’s Executive Leadership Team. Mr Lamont has been the CFO of the ASX-listed global biotech company CSL Limited since January 2016. Prior to joining CSL, Mr Lamont was the CFO and an Executive Director at MMG from 2010. He previously served as CFO for several other multinational public companies across a range of industries, including OZ Minerals Limited, PaperlinX Limited and Incitec Pivot Limited. Mr Lamont also held senior roles at BHP between 2001 and 2006, including CFO of the company’s Carbon Steel Materials and Energy Coal businesses. He began his career as an accountant at Deloitte.

    Peter Beaven will continue as CFO until 30 November 2020 to provide ongoing leadership through to Mr Lamont’s commencement, and will support Mr Lamont with handover into early 2021, after which he will leave BHP.

    Mr Lamont holds a Bachelor of Commerce degree, is a qualified Chartered Accountant and is a member of the Institute of Chartered Accountants (Australia) and a Director of Financial Executives Institute of Australia.

    Source : Strategic Research Institute
  4. forum rang 10 voda 17 juni 2020 10:54
    BHP Take on Cultural Heritage Sites at South Flank

    In October last year, BHP submitted a section 18 application related to development activity for the South Flank mine, following extensive consultation with the Banjima people over 15 years. Approval was granted by the Minister on 29 May 2020. BP said “We take a sustainable approach to our mining operations and work in partnership with traditional owners to ensure that each stage of development is informed by their views. This ongoing commitment is central to our land use agreements. We will not disturb the sites identified without further extensive consultation with the Banjima people. That consultation will be based on our commitment to understanding the cultural significance of the region and on the deep respect we have for the Banjima people and their heritage. This will include further scientific study and discussion on mitigation and preservation. We have a strong relationship with the Banjima community built over more than 20 years of engagement and consultation in the Pilbara. This relationship is of fundamental importance to our organisation.”

    It added “Section 18 consents are one part of the company’s broader approach to heritage management. In addition to consulting with traditional owners as part of regulatory approvals, the agreement making process provides a framework for traditional owners to identify, map and agree on those areas that require the greatest protections. We seek to avoid, minimise and manage heritage impacts co-operatively with traditional owners. We support the West Australian Government’s review and reform of the Aboriginal Heritage Act and we will continue to actively engage in that process.”

    Source : Strategic Research Institute
  5. forum rang 10 voda 17 juni 2020 10:54
    Rio Tinto Statement on Juukan Gorge

    Rio Tinto chief executive Jean-Sebastien Jacques said “Rio Tinto will fully cooperate with the Inquiry by the Joint Standing Committee on Northern Australia while also continuing to support the West Australian government in the reform of the Aboriginal Heritage Act 1972 (WA). We are committed to engaging with the rest of the industry, Traditional Owner Groups, and federal and state governments across a number of areas relating to cultural heritage approvals and processes, and the broad contribution of the resources sector to Australia. We are very sorry for the distress we have caused the PKKP in relation to Juukan Gorge and our first priority remains rebuilding trust with the PKKP. Rio Tinto has a long history of working in partnership and creating shared value with Aboriginal and Torres Strait Islander communities around our operations and across Australia more broadly. We remain absolutely committed to continuing to do so.”

    He added “We believe the mining industry has a critical role to play in contributing to the future prosperity of all Australians.”

    Source : Strategic Research Institute
  6. forum rang 10 voda 25 juni 2020 15:01
    Chevron to power BHP Nickel West projects

    Australian Mining reported that Chevron has signed a natural gas delivery agreement with BHP Nickel West from the Chevron-operated Wheatstone domestic gas facility. From this July, Chevron will supply BHP Nickel West with 22 petajoules of equity domestic gas over the 3.5-year agreement term. Chevron Australia managing director Al Williams said the agreement highlighted the important role of using natural gas in powering critical industries like mining.

    BHP Nickel West made significant progress in the 2019 financial year as it worked to become a leading supplier to the battery materials market, selling over 70 per cent of its production to this sector. It also progressed construction works at the Kwinana nickel refinery, with stage 1 expected to produce up to 100,000 tonnes per annum of nickel sulphate. As the company continues to develop its mines in Western Australia’s northern Goldfields, it is expecting first ore production from the Leinster B11 undercut in the second half of the 2020 calendar year, pending approvals.

    Source : Strategic Research Institute
  7. forum rang 10 voda 25 juni 2020 15:03
    BHP to Improve Houses in Newman

    BHP will spend AUD 100 million over the next 10 years to improve and upgrade our housing stock in Newman. The housing programme will see fifty homes in Newman refurbished in FY21 and a further 650 refurbishments over the next 10 years to modernise the designs and amenities for current day lifestyles. This includes adding bathrooms, sheds and patios to existing homes as well.

    Housing Manager Katie Hilless said the investment includes increasing the quality of our houses for residential employees through refurbishment programs as well as creating more opportunities for social value with our community through donations and leases. Katie said “We know that a major consideration for people moving into regional towns is the accommodation they are able to access. Newman is a fantastic place to live and work and we want to do more to encourage more people to make this great town home.”

    Source : Strategic Research Institute
  8. forum rang 10 voda 25 juni 2020 15:14
    BHP Hires JP Morgan to sell Australian Thermal Coal Mine

    Reuters reported that BHP has hired JP Morgan to sell its Australian thermal coal mine, following pressure from investors concerned about global warming. The report quoted banking sources as saying that BHP's Mt Arthur open cut mine, in the Hunter Valley region of New South Wales, supplies thermal coal to domestic and international customers and could fetch between AUD 1.5-1.8 billion

    Increased scrutiny from investors, regulators and climate change activists is prompting miners to limit their exposure to fossil fuels. Its activist investor Elliott, which holds a 4.7% stake in the mining company, has pushed for the sale of the thermal coal assets, which also include one third of the Cerrejon mine in Colombia. Thermal coal only accounts for 3% of the portfolio of BHP, which has been asked by green groups and some shareholders to leave any industry associations with policies that fail to match the company's support for the 2015 Paris climate accord.

    Source : Strategic Research Institute
  9. forum rang 10 voda 2 juli 2020 11:22
    Rio Tinto adds a strategy and development role to the executive committee

    Rio Tinto has added a new role to its executive committee as it considers the next phase of its transformation to reinforce the company’s commitment to strategy, technology and climate change in a new era. Peter Toth will become Group executive, Strategy and Development with a focus on leading Rio Tinto’s transformation efforts around portfolio, climate change, and closure, working in partnership with the product group and commercial teams. He will also assume responsibility for Rio Tinto Exploration and Ventures.

    Stephen McIntosh, Group executive of Growth & Innovation and Health, Safety & Environment (HSE) has decided to retire after more than 30 years with Rio Tinto, leaving the company on 30 September. Stephen joined Rio Tinto as an exploration geophysicist in 1987 and led the exploration team from 2011 to 2016, joining the executive committee in 2016. During his time with the company, Stephen built strong exploration, project and technology capabilities.

    With Stephen’s departure, Mark Davies will assume the role of Group executive, Safety, Technical and Projects, with a focus on maintaining the company’s longstanding commitment to safety, health and environment, while further building on the company’s efforts in technology and project delivery to support operational excellence in the years ahead.

    Both Peter and Mark will join the Rio Tinto executive committee on 1 October, reporting to chief executive, J-S Jacques.

    Source : Strategic Research Institute
  10. forum rang 10 voda 6 juli 2020 15:42
    Vale Canada Tests EVs in Ontario Mining Operations

    By the end of 2020, Brazilian mining giant Vale subsidiary Vale Canada, expects to have upward of 20 battery-powered vehicles operating in five of its Ontario mines, including a number supplied by Canadian electric mining vehicle manufacturer Rokion, a division of Saskatoon-based OEM Prairie Machine. The vehicles, which are still being evaluated on a trial basis, range from personnel carriers to larger loaders and hauling trucks. Along with Rokion, which makes personnel and utility vehicles, the other manufacturers are Sandvik and Epiroc, both based in Sweden.

    A handful of EVs have already been tested at the company’s Creighton and Coleman mines. According to Vale Canada, tests to date have demonstrated improvements in three areas: health and safety, operating and capital costs, and environmental impact. The new rollout will see EVs added at its Copper Cliff, Garson and Thompson sites.

    EVs are quieter than diesel vehicles, produce less heat and have no exhaust emissions, all pluses for operator comfort. Meanwhile, cost savings stem primarily from reduced ventilation demands, while the biggest environmental benefit is a reduction in greenhouse gas emissions.

    The company says the new vehicles are part of Vale’s commitment to the Paris Climate Agreement, which includes goals of being carbon neutral by 2050 and achieving a 33 per cent reduction of emissions by 2030. In this context, it also says the information gathered from the vehicle tests will be used to “steer business investment decisions in the years to come.”

    Source : Strategic Research Institute
  11. forum rang 10 voda 6 juli 2020 15:42
    Anglo American Platinum to Switch to Hydrogen Powered Trucks

    Bloomberg reported that Anglo American Platinum is advancing plans to convert its fleet of giant diesel-fueled mine trucks to hydrogen power as the company seeks to burnish its green credentials. More than 400 mine-haul trucks could be rebuilt to use hydrogen fuel, with a pilot project starting next year Ltd’s open-pit Mogalakwena operation in South Africa. A 3.5-megawatt electrolyzer will produce hydrogen on site, while the trucks will also be fitted with a platinum catalyst.

    Anglo and its global mining peers are under increasing pressure to cut greenhouse gas emissions and improve their environmental performance. The company plans to divest its thermal coal assets in South Africa over the next three years as investors demand that miners exit the world’s dirtiest fuel.

    Truck makers are trying to commercialize hydrogen technology that’s been in development for two decades, but has been held back by prohibitive costs and a lack of infrastructure. While the vast majority of heavy-duty rigs are powered by diesel engines, manufacturers and parts suppliers have stepped up development of alternatives to comply with stricter emission rules.

    Source : Strategic Research Institute
  12. forum rang 10 voda 6 juli 2020 15:54
    Heavy Rain Triggered Landslide Kils 162 Illegal Jade Miners in Myanmar

    A landslide at a jade mine in northern Myanmar killed at least 162 people, with more feared dead, after a heap of mining waste collapsed into a lake, triggering a wave of mud and water that buried many workers. The miners were collecting stones in the jade-rich Hpakant area of Kachin state when the muddy wave crashed onto them, after heavy rain. The jade miners were smothered by a wave of mud. Video footage on social media showed frantic miners racing uphill to escape as a towering pile of black waste cascaded into a turquoise lake, churning up a tsunami-like wave of mud. Rescuers recovered 162 bodies and 54 injured people by 7.15 PM local time on Thursday. Other bodies are in the mud and the number of dead is going to rise.

    Hpakant is a rough and remote area in Kachin state, 950 kilometers north of Myanmar’s biggest city Yangon.

    The London-based environmental watchdog Global Witness said the accident is a damning indictment of the government”s failure to curb reckless and irresponsible mining practices in Kachin state’s jade mines. It said “The government should immediately suspend large-scale, illegal and dangerous mining in Hpakant and ensure companies that engage in these practices are no longer able to operate. The multi-billion dollar sector is dominated by powerful military-linked companies, armed groups and cronies that have been allowed to operate without effective social and environmental controls for years.”

    Deadly landslides and other accidents are common in the poorly regulated mines of Hpakant, which draw impoverished workers from across Myanmar, but this is the worst in more than five years. The death toll surpasses that of a November 2015 accident that left 113 dead and was previously considered the country’s worst. In that case, the victims died when a 60-meter high mountain of earth and waste discarded by several mines tumbled in the middle of the night, covering more than 70 huts where miners slept. The government of Aung San Suu Kyi pledged to clean up the industry when it took power in 2016, but activists say little has changed.

    Those killed in such accidents are usually freelance miners who settle near giant mounds of discarded earth that has been excavated by heavy machinery. The freelancers who scavenge for bits of jade usually work and live in abandoned mining pits at the base of the mounds of earth, which become particularly unstable during the rainy season. Most scavengers are unregistered migrants from other areas, making it hard to determine exactly how many people are actually missing after such accidents and in many cases leaving the relatives of the dead in their home villages unaware of their fate.

    The most detailed estimate of Myanmar’s jade industry said it generated about USD 31 billion in 2014.

    Source : Strategic Research Institute

    Zie ook video beelden:

    www.ad.nl/buitenland/meer-dan-160-dod...
  13. forum rang 10 voda 10 juli 2020 15:34
    Epiroc to Provide Batteries as a Service to Vale Canada

    The world’s first Batteries as a Service agreement has been finalized in Canada, with Vale and Epiroc partnering on this innovative new approach for utilizing battery technology in mining operations. With Batteries as a Service, Epiroc works directly with the customer to define a battery plan that suits the needs of their operation. The lifespan is guaranteed and the battery status is carefully monitored to ensure predictive maintenance with reduced downtime. If a customer wants to increase or decrease their capacity, they can adjust their plan and the service will be tailored to meet their requirements. As part of an ongoing sustainability commitment, Epiroc will remove old batteries from site and replace them with new. These older batteries are then used for secondary applications and will be recycled at the end of the process.

    To complement the new battery fleet, Vale will also be adding three of Epiroc’s charging cabinets and seven charging posts for equipment support.

    The delivery of the battery equipment to both sites will occur over the course of 2020 and into the first quarter of 2021.

    As mining companies continue to strive for sustainable productivity and zero emissions, the fast evolution and development of different options within the field of battery technology can be extremely challenging.

    Source : Strategic Research Institute
  14. forum rang 10 voda 17 juli 2020 07:28
    Rio Tinto levert meer ijzererts

    (ABM FN-Dow Jones) Rio Tinto heeft in het kwartaal dat eind juni afliep, meer ijzererts afgeleverd, waarmee het profiteerde van de hoge prijzen voor de grondstof voor staal, maar de productiecijfers van andere belangrijke grondstoffen lieten een gemengd beeld zien. Dit bleek vannacht uit de cijfers van de Brits-Australische mijnbouwgroep.

    Rio Tinto leverde 86,7 miljoen ton ijzererts af in het afgelopen kwartaal, hetgeen een stijging van 1 procent betekende. Over het afgelopen halfjaar werd er 3 procent meer verscheept, ondanks de schade die de Tropische Cycloon Damien in februari aanrichtte aan de infrastructuur van het bedrijf.

    Rio Tinto verwacht nog steeds jaarlijks 324 miljoen tot 334 miljoen ton aan ijzererts te kunnen leveren.

    Het bedrijf verwacht dit jaar circa 6 miljard dollar te investeren, waar eerder nog werd gemikt op 5 miljard tot 6 miljard dollar.

    Rio Tinto profiteerde naar eigen zeggen sinds het eerste kwartaal van gunstige wisselkoerseffecten ten opzichte van de Amerikaanse dollar. Bovendien neemt de impact van de coronacrisis af.

    Rio Tinto wil de investeringen langzaam weer opschroeven tot jaarlijks 7 miljard dollar vanaf volgend jaar. Eerder mikte het bedrijf op 6,5 miljard dollar per jaar. Dit heeft volgens Rio Tinto te maken met de fasering van investeringen in 2020, als gevolg van de coronamaatregelen.

    Verder meldde de mijnbouwgroep dat de productie van bauxiet in het afgelopen kwartaal steeg met 9 procent, maar dat de koperproductie met 3 procent terugliep en ook de aluminiumproductie met 2 procent daalde.

    Analisten van RBC merkten op dat de kans dat er een speciaal dividend zal worden uitgekeerd na de halfjaarcijfers uiterst klein is.

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

    © Copyright ABM Financial News B.V. All rights reserved.
  15. forum rang 10 voda 22 juli 2020 16:21
    BHP Coal Update for 2020 FY

    CoalMetallurgical coal production was down three per cent to 41 million tonne, 73 million tonne on a 100 per cent basis, as a result of significant wet weather events in the prior quarter and geotechnical constraints at South Walker Creek. Production is expected to be between 40 and 44 million tonne, 71 and 77 million tonne on a 100 per cent basis in the 2021 financial year, a similar level to the prior year as it reflects an expected deterioration in market outlook due to the impact of COVID-19. With Blackwater returning to full capacity towards the end of the September 2020 quarter after flooding in the March 2020 quarter, volumes will be weighted to the second half of the financial year. At Queensland Coal, strong underlying operational performance, including record underground coal mined at Broadmeadow and record annual production at Caval Ridge and Poitrel. was offset by planned major wash plant shutdowns in the first half of the year and significantly higher rainfall during January and February 2020 compared with historical averages. Blackwater, our largest mine, was the most severely impacted, with mining operations stabilised during the June 2020 quarter and a return to full capacity expected towards the end of the September 2020 quarter.

    Energy coal - Energy coal production decreased by 16 per cent to 23 million tonne. Production is expected to be between 22 and 24 million tonne in the 2021 financial year. Further potential impacts from COVID-19, including weak demand, represent possible downside risk to the 2021 financial year guidance.
    NSWEC production decreased by 12 per cent to 16 Mt as a result of the change in product strategy to focus on higher quality products and unfavourable weather impacts from December 2019 to February 2020. This was partially offset by a strong performance in the June 2020 quarter driven by record truck utilisation. Production is expected to be between 15 and 17 million tonne in the 2021 financial year. Cerrejbn production decreased by 23 per cent to 7 million tonne due to a temporary shutdown during the June 2020 quarter in response to COVID-19, as well as a focus on higher quality products, in line with the mine plan. The temporary shutdown lasted for approximately six weeks and allowed for completion of COVID-19 control measures to meet the Colombian Government s regulations. Production is expected to be approximately 7 million tonne in the 2021 financial year.

    Source : STRATEGIC RESEARCH INSTITUTE
  16. forum rang 10 voda 22 juli 2020 16:23
    Vale Coal Production & Sales Overview for Q2 of 2020

    Production and sales results reflect the effects of the COVID-19 pandemic. As the seaborne coal demand was severely hit, inventories at mine and port increased until reaching the facilities' storage limits. After reaching a coal production record in March, compared to the previous 15 months, Vale decelerated production in Moatize, starting in April; as the demand constraints endured, the company temporarily stopped production in June. Hence, a production loss of approximately 1 million tonne was recorded in 2Q20. As long as unfavourable market conditions persist, additional temporary stoppages may occur, therefore it is not possible to provide a new coal production guidance for 2020.

    As previously reported, given the restrictions and uncertainties brought by the COVID-19 pandemic, including on the flow of goods and services and the transportation of people, Vale decided to postpone the 3-month maintenance plan revamp and, therefore, making it impossible to achieve a sustainable ramp-up of the operation still in 2020. Vale is ready to start the necessary revamp as soon as it can guarantee the inbound logistics of equipment and materials to the site, as well as ensure the required safety levels to its employees.

    Source : STRATEGIC RESEARCH INSTITUTE
  17. forum rang 10 voda 27 juli 2020 14:59
    BHP Short Term Outlook for Commodities

    Bulk Commodity Prices Diverged - Australian mining giant BHP said that exchange traded commodity prices have recovered slightly from their March & April 2020 lows. Bulk commodity prices have diverged, with iron ore higher than in April 2020 while metallurgical coal prices are lower. Across the suite of commodities, a combination of economic supply-side curtailments and COVID-19 induced supply-side disruptions have served as a partial offset to the lower demand.

    Steel Excluding China - BHP maintains view that steel production excluding China could contract by a double-digit percentage in the 2020 calendar year. BP estimates that capacity utilisation excluding China fell to between 50 and 60 per cent across the June quarter. Steel makers from other regions, including Europe, the Americas, India and Japan have cut production. This reflects logistical difficulties created by COVID-19, eg inter-state labour availability in India, as well as collapsing demand in downstream industries, such as automotive eg Europe and Japan.

    Steel China - In China, blast furnace utilisation rates have increased from around 80 per cent earlier in February 2020 to above 90 per cent in June 2020. Daily rebar transactions were above normal seasonal levels for much of the June 2020 quarter, helping support a crude steel run-rate of 1,117 Mtpa in June 2020, +4.5 per cent year-on-year. Year-to-date annualised production is seen at 1.004 million tonnes. Finished inventories have fallen as downstream activity has improved. BHP believes that if China can avoid a second wave of COVID-19 steel and pig iron production can both rise in the 2020 calendar year versus the prior year.

    Iron Ore - The Platts 62% Fe Iron Ore Fines price index has been resilient so far. This reflects solid Chinese pig iron production of +4.1 per cent year-on-year in June and the impact of constrained Brazilian exports. Meanwhile, preliminary shipping data suggest Australian exports hit a record of 1,072 Mtpa in June 2020. Weakness ex-China is less consequential for price formation in iron ore than in other commodities.

    Metallurgical Coal - The Platts Premium Low-Volatile Metallurgical Coal price index has been under downward pressure through the June 2020 quarter. Negative demand impacts from COVID-19 lockdowns in the major importing regions of Europe, India and developed Asia have been the major influence on the market. Chinese demand, on the other hand has been firm. However, China s coal import policy remains a key uncertainty. As demand disruption excluding China accelerated early in the June quarter, prices traded below the lows seen in the second half of the 2019 calendar year. They have since stabilised at these levels. The geographic diversification of metallurgical coal demand is a long term advantage but an impediment under today's unique circumstances. Developments in both supply and demand imply that lower quality products may face headwinds for an extended period. Premium coking coals exhibit attractive medium-term fundamentals.

    Thermal Coal - The energy coal market is in a difficult state. The GCNewc 6000kcal price recently fell below the levels reached during the 2015/16 downturn. Wood Mackenzie has estimated that at late June 2020 spot prices around two-thirds of seaborne supply was likely to be earning negative margins. Short term increases in producer currencies and diesel prices have amplified cost challenges. An uplift in power demand across developed Asia as re-starts progress could help to stabilise the market. China's policy in respect of energy coal imports remains a key uncertainty.

    Copper - Copper prices fell sharply in March 2020 amidst depressed macro investor sentiment. They have since rebounded, first on improving sentiment towards pro-growth assets, and more recently on news of supply challenges in South America due to COVID-19. In terms of demand fundamentals, our view is that the decline in excluding China copper demand will be less severe than for steel. Conversely, in China, copper demand could be marginally weaker than steel in the 2020 calendar year, based partly on copper's greater exposure to indirect exports from China (approximately 20 per cent versus approximately 10 per cent for steel). Copper also benefits less than steel from transport and non-power utilities infrastructure, which are benefitting from strong policy support. On the supply side, Peru and Chile have experienced difficulty in containing COVID-19, with flow-on impacts to copper operations and the broader supply chain. This has led to a material tightening of the copper concentrate balance, with treatment and refining charges moving lower in response. Scrap availability has also been constrained.

    Crude Oil - After crashing in March 2020, crude oil prices exhibited considerable volatility in April 2020. However, conditions improved in May and June 2020, as the early impact of global supply cuts, China's demand recovery and activity restarts in the US and Europe took some pressure off global storage. Large and small producers alike have announced sharp cuts in capital spending in response to the price decline. In North America, rigs targeting oil have declined by more than 70 per cent, to a level last seen before the shale boom. We believe that the most significant risks to the physical market have passed. However, a return to pre-COVID-19 demand levels is not expected to occur before the end of the 2021 calendar year.

    Source : STRATEGIC RESEARCH INSTITUTE
  18. forum rang 10 voda 29 juli 2020 09:33
    Rio Tinto verhoogt dividend

    (ABM FN-Dow Jones) Rio Tinto heeft ondanks een lagere winst het interim-dividend verhoogd. Dit bleek woensdag uit de cijfers van het Australische mijnbedrijf.

    De nettowinst daalde van 4,13 miljard in het eerste helft van 2019 naar 3,32 miljard dollar afgelopen zes maanden.

    De onderliggende winst daalde met slechts 4 procent tot 4,75 miljard dollar. Daarmee deed het bedrijf het iets beter dan verwacht. Analisten vooraf geraadpleegd door The Wall Street Journal hadden op 4,09 miljard dollar gerekend.

    Rio Tinto besloot desondanks het interim-dividend te verhogen tot 1,55 dollar per aandeel. Een jaar geleden was dit nog 1,51 dollar per aandeel

    "Ondanks de uitdagende omstandigheden genereerden we een onderliggende winst vóór rente, belastingen, afschrijvingen en amortisatie van 9,6 miljard dollar, met een marge van 47 procent, aangejaagd door onze sterke en stabiele activiteiten, waarbij al onze activa gedurende de eerste helft operationeel bleven", aldus CEO Jean-Sébastien Jacques.

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

    © Copyright ABM Financial News B.V. All rights reserved
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scheiber op 7 aug 2020 18:37
 
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