DOCSLIB.ORG

Steel Raw Materials Monthly

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Steel Raw Materials Monthly [STEEL ] www.platts.com STEEL RAW MATERIALS MONTHLY www.twitter.com/PlattsSBBSteel Issue 17 / July 2014 Hebei mills and miners doing it tough Contents Iron Ore Market Focus 3 Hebei province, the present-day cradle of rise in the rest of the country, according to the steelmaking in China accounting for one- National Bureau of Statistics. Iron Ore Data 5 third of the country's total capacity, is By last May, however, Hebei’s crude steel Metallurgical Coal Market Focus 6 uncomfortable. All heavy industries it hosts, production had climbed to 16.4 million mt, Metallurgical Coal Data 8 but especially steel, have been under intense giving it a 23.2% share of the country’s total scrutiny since last October when China’s new output, which was down 3% on the previous Scrap Market Focus 9 central government led by President Xi Jinping year. Meanwhile, output elsewhere across Alloys Market Focus 10 and Premier Li Keqiang publicly resolved to China grew by an average 2.6%, Platts notes. News 11 tackle overcapacity as part of a major effort Whether steel production is slowing Special Report 19 to improve northern China’s air quality. because companies in the sector have been In June, Platts spent a week travelling in struggling to make decent profits or whether Project Focus 22 Beijing and touring Hebei, talking with Beijing’s environmental clampdown has started Global Trade Highlights 23 government officials, steel producers, iron ore to have some impact is unclear. But anecdotal Steel Raw Materials Monthly Averages 24 miners and traders, to take the pulse of the evidence points to the former reason, with province ten months after Beijing made its some small- and privately-owned steel mills in announcement on overcapacity. Here are Hebei understood to be considering exiting the Editorial some of the key take-aways. steel business because of the weak market. Hebei’s contribution to China’s total steel One general manager of a 1 million mt/year Indian steel needs more help output has fallen, while its growth rate has steel mill in Qian’An city, Hebei, said the works There was a cautious welcome from slipped below the national average. In September was preparing to close after operating for a India’s steelmakers towards the first 2013, prior to the country’s chief executive decade. “The halcyon days for steel are long budget handed down by the new Modi announcing the crackdown, Hebei produced 15.7 gone and I see little point hanging in here,” he government earlier this month, as million mt of crude steel, accounting for 23.9% of conceded. “The struggle is only going to get funds were set aside for new roads, total output. Year-on-year growth in output for the worse as Beijing no longer favors the steel rail and port. There was also a month reached 12.9% compared with an 11% industry. Competition between mills over price reduction in the duty for coking coal and other aspects will only become more exports from 6% to 4.5%, which as a China's major steelmaking aggressive, helping no one,” he warned. major importer of the steelmaking raw provinces (million mt) A second industry source said the owner of material will be well-received. But the two small steel mills in Tangshan had recently government will need to do a lot more Jan-May y-o-y Contribution to sold out, with one of them – a 900,000 metric if the country is ever to reach its 300 2014 growth total output tons/year narrow strip plant – selling for Yuan 3 million mt/year steel production billion ($478 million). “The price was very good, capacity target. Hebei 82.95 -3.76% 24.20% and the owner was lucky to have the option to Jiangsu 39.39 8.20% 11.50% leave the market intact,” Platts was told. But Some within the industry believe it will Liaoning 26.85 9.18% 7.84% others have been less fortunate. Many local cost $200 billion to treble the country’s Shandong 26.56 0.20% 7.75% steel mills remain entangled in a web of debt as steel production, which if accurate Shanxi 18.49 -0.04% 5.40% they either owe or are owed money. In some constitutes a major long-term Other 148.28 cases, the option to simply walk away is not investment. Preventing steel companies Total 342.52 2.71% available. Sources said some were prevented from accessing captive iron ore supplies Source: NBS from doing so because of the complexity of multi- in states such as Odisha can’t be (continued on page 2) helping. Tata Steel has been successful in India because of high levels of self- Key price assessment monthly averages, June 2014 sufficiency. But it and fellow steelmaker JSW Steel are impacted by the mining Unit Average change % change bans, which could be a reason why the Platts IODEX Iron ore fines 62% Fe CFR North China $/dmt 92.67 -8.13 -8.07 pair could import more than 800,000 mt Platts Coking Coal, Premium low-vol FOB Australia $/mt 111.19 -1.19 -1.06 of iron ore in July alone, according to Platts Ferrous Scrap HMS CFR Turkey $/mt 370.74 -2.74 -0.73 Platts shipping data. Paying a premium to import material cannot be helping the TSI Iron Ore Fines 62% Fe $/dmt 92.74 -7.82 -7.78 companies’ bottom lines and will not be Chinese imports (CFR North China port) sustainable in the longer-term. This is something the new Modi administration TSI Coking Coal, Premium hard, $/mt 115.76 -1.26 -1.08 Australian exports (FOB port) will need to address. TSI Ferrous Scrap HMS 1&2 80:20, $/mt 371.33 -3.27 -0.87 — Paul Bartholomew Turkish imports (CFR port) STEEL RAW MATERIALS MONTHLY ISSUE 17 / JULY 2014 Hebei mills and miners doing it tough “We can’t afford to lower prices by ...from page 1 more than another Yuan 10-20/dmt,” a Hebei-based miner explained. “It wouldn’t party financing and the reluctance of local previously, and they also need to be more help much in any case against imported authorities to allow key sources of provincial flexible about loan repayments,” he added. iron ore prices, so we have opted to stock and municipal tax revenues to disappear. “Mills and banks are sinking in the up our concentrate and wait for a better same boat so they have to help each other market,” he told Platts. Banks and mills stuck with each other to survive,” the Tangshan source said. Imported iron ore prices have since Banks have also become more circumspect Hebei is a major iron ore production recovered by around $5/mt in late June and about issuing short- or medium-term loans region and like the province’s steelmakers, into early July after sitting at around $90/ to steel mills and when granting letters iron ore producers are also doing it tough right dmt for much of May and June. Rather than of credit are raising the required deposit now, squeezed by a languishing steel market raising their offers to compete with lower ratio to 30% of the LC value from 15-20% and mountains of imported iron ore sitting at import prices, domestic miners took the previously. Yet similar to some mills, it is ports. Domestic mines producing magnetite opportunity to destock their inventories. not easy for banks and other financiers to are saddled with higher concentrating costs in “It has been rare for us to keep more extricate themselves from the steel sector. comparison with imported hematite. than 200,000 mt of concentrate in stock, “All Chinese banks, especially those Domestic iron ore suppliers lost their though this was the case for most of the privately-owned ones, such as Minsheng battle against cheaper imported iron ore at first half of this year, so our core task now Bank, are highly exposed to the steel ports earlier this year when prices of is to destock rather than chase margins,” industry, in everything from production to domestic concentrate (typically grading an official from a large iron ore miner in steel and iron ore trading,” a Tangshan- around 66% Fe) delivered to mills in Tangshan Hebei said. Yet the suffering of China’s based market source said. “So for the fell to the break-even point for most Chinese domestic miners – especially those in banks to turn off the tap now would be miners of Yuan 850/dry mt ($138/dmt). Yet Hebei, the country’s largest iron ore mining suicidal. They have to keep pumping in by the end of June very few miners had cut province – has not affected output much, funds, albeit at a slower pace than production in any significant way. market sources confirmed. This is borne out by the country’s iron China’s key iron ore production regions ore output statistics, which showed that last September Hebei’s output reached 56.3 million mt, or 41.2% of the country’s total. By May however, the province produced 47.5 million mt of iron ore, or 36% of the country’s total, a slide that was in proportion Hebei province with the province’s lower steel output. Looking at the second half of 2014, China’s domestic iron ore miners will CHINA probably try to hang on and hope overseas suppliers do not initiate a long pricing battle. They will also increasingly look to central and local government authorities to relieve them of the burden of numerous taxes that can account for around 25% of production costs and add as much as RMB 200/mt to their sales price.
Load more

Recommended publications
  • Rutila Resources Ltd ASX
    Rutila Resources Ltd ASX : RTA For personal use only Investor Presentation 27 November 2013 Rutila Resources Ltd – Disclaimer This Presentation has been prepared by Rutila Resources Ltd (ABN 139 886 187) (Rutila or the Company). This Presentation contains summary information about Rutila and its subsidiaries (Rutila Group) and their activities current as at the date of this Presentation. The information in this Presentation is of general background and does not purport to be complete or to comprise all the information that a shareholder or potential investor in Rutila may require in order to determine whether to deal in Rutila shares. It should be read in conjunction with Rutila Group’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (ASX), which are available at www.asx.com.au. This document is not a prospectus or a product disclosure statement under the Corporations Act (Cth) 2001 (Corporations Act) and has not been lodged with the Australian Securities and Investments Commission (ASIC). Not investment or financial product advice This Presentation is for information purposes only and is not financial product or investment advice or a recommendation to acquire Rutila shares and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek financial, legal and taxation advice appropriate to their jurisdiction. Rutila is not licensed to provide financial product advice in respect of Rutila shares. Cooling off rights do not apply to the acquisition of Rutila shares.
    [Show full text]
  • Integrated Rail Network Closure Plan
    Report Integrated Rail Network Closure Plan Long Term Mine Planning 7 June 2018 R-PL-EN-0041 Rev 0 CLOSURE GUIDELINE CHECKLIST Report This closure plan addresses the progressive rehabilitation and closure of rail infrastructure projects associated with the Railway and Port (The Pilbara Infrastructure Pty Ltd) Agreement Act 2004. In the absence of regulatory guidelines for inland infrastructure projects, this closure plan follows the report structure described within the Guidelines for Preparing Mine Closure Plans May 2015 published by the Government of Western Australia Department of Mines and Petroleum (now the Department of Mines, Industry Regulation and Safety) and Environmental Protection Authority. The closure of mining operations, including quarries, is not within the scope of this closure plan. Closure Plan (CP) checklist Y/N Page Comments 1 Has the Checklist been endorsed by a senior Y 2 Report has been endorsed using representative within the tenement holder/operating standard Fortescue processes. company? Public Availability 2 Are you aware that from 2015 all CPs will be made N/A This report is not subject to mine closure publicly available? conditions under the Mining Act. 3 Is there any information in the CP that should not be N publicly available? 4 If “Yes” to Q3, has confidential information been N/A submitted in a separate document/section? Cover Page, Table of Contents 5 Does the CP cover page include: Y 1 This report is provided for information • Project Title only. • Company Name • Contact Details (including telephone numbers and email addresses) • Document ID and version number • Date of submission (needs to match the date of this checklist) Scope and Purpose 6 State why the CP is submitted Y 11 This plan has been provided to support the Eliwana Rail Project Public Environmental Review.
    [Show full text]
  • Application for Declaration of the Mt Newman Railway, FMG Response To
    FORTESCUE METALS GROUP LIMITED RESPONSE DATED 6 MAY 2005 IN RESPONSE TO THE ISSUES PAPER RELEASED BY THE NATIONAL COMPETITION COUNCIL DATED 11 MARCH 2005 2 RESPONSE BY FORTESCUE METALS GROUP LIMITED TO THE ISSUES PAPER RELEASED BY THE NATIONAL COMPETITION COUNCIL DATED 11 MARCH 2005 1. INTRODUCTION 1.1 Fortescue Metals Group Limited (“Fortescue”) refers to: (1) Fortescue’s Application under Part IIIA of the Trade Practices Act for Declaration of the service provided by BHP Billiton Iron Ore Pty Ltd dated 11 June 2004 (“Declaration Application”); (2) Fortescue’s Supplementary Submissions dated 8 July 2004 (“Supplementary Submissions”); and (3) Fortescue’s Submissions dated 4 October 2004 (“Preliminary Issues Paper Submissions”). 1.2 Fortescue also refers to the Issues Paper dated 11 March 2005 issued by the National Competition Council (“NCC”). In its Issues Paper, the NCC sought comments on what it considered to be the principal issues in considering Fortescue’s Declaration Application for declaration of the Service (described as the use of that part of the Mount Newman railway line specified in Fortescue’s Declaration Application). 1.3 Specifically, the NCC sought comments on the following questions: What is an appropriate duration for declaration of the Mount Newman Railway Service and why? Are there any reasonably foreseeable factors which may materially affect the NCC’s assessment of Fortescue’s Application for declaration? What is the time frame for the realization of such factors? 1.4 The NCC cannot recommend that a service be declared unless it believes all the criteria set out in section 44G(2) of the Trade Practices Act have been satisfied.
    [Show full text]
  • Gresham Mining & Infrastructure Services Quarterly
    Gresham Mining & Infrastructure Services Quarterly We are pleased to present Edition 25 of the Gresham Mining and Infrastructure Services Quarterly (GMISQ), a snapshot of the performance, news and trends across the resources and infrastructure services sectors. The Gresham Mining and Infrastructure Services Index (GMISI) rose 7% during the December 2019 quarter, while the broader equity market finished flat over the period. The index appreciation was driven by the GMISI’s larger constituents, with 18 of the top 25 companies by market capitalisation posting share price increases. In contrast, 18 of the lower 25 companies went backwards during the quarter. The index has softened in the opening weeks of 2020, following the announcement of operating issues at several companies and concerns around the potential impact of the coronavirus on resources activity. At the end of the December quarter, the sector’s median FY20 EV/EBIT and EV/EBITDA multiples were 8.8x and 5.6x respectively, both above long term averages. While equity markets were generally strong over 2019, IPO activity remained subdued, as a number of potential new listings in the sector were withdrawn or deferred late in the quarter. However, it was a busy period for M&A, with major announced transactions including Ventia’s acquisition of Broadspectrum, the sale of Lendlease’s Engineering business to Acciona and NRW’s purchase of BGC Contracting. In this edition we take a snapshot of some highlights from 2019, including corporate transactions and the biggest movers in the index. The data shows that the largest share price changes were primarily observed in small-caps that have reported material earnings changes.
    [Show full text]
  • 1301986159-FDI Strategic Weekly Analysis
    5 April 2011 | Vol. 2, № 12. From the Editor’s Desk Dear FDI supporters, Once again FDI’s Indian Ocean Research World Bank funding for water management in programme held a roundtable in Perth. It Indonesia while Jesse Pillay investigates considered “China’s Role in the Indian Ocean” Indonesia’s naval expansion. and was an important step in progressing the programmes research in to future scenarios in In the past week FDI welcomed the latest the Indian Ocean. In the next two weeks similar addition to our internship programme. University of WA student, Annika Aitken, is roundtables will be held in Sydney and assisting research manager Leighton Luke in Canberra. the Indian Ocean Research Programme. Roundtables form a fundamental part of the research that is carried out by FDI and we are Keep an eye out in the coming days for the Strategic Analysis Paper which provides a really thankful for the ongoing support we get from Associates in Australia and internationally summary of the recent FDI Global Land in making this a success. We believe that it Availability roundtable as well as a fascinating study on water surplus countries. Another provides FDI with a unique research edge. paper, due for release in the next few days will In this issue of the Strategic Weekly Analysis consider Pilbara Prospects. we get a first taste into what we can look forward to from our new strategic analyst Liam If you know of anyone that will benefit from McHugh. He considers a decision by Hancock our research or who should be considered as an FDI Associate, please give the FDI office a Prospecting to allow third party access to its rail network and what it will mean for smaller call on +61(08) 9486 1046 or email miners.
    [Show full text]
  • Goldsworthy Railway
    Goldsworthy Railway Application for declaration of a service provided by the Goldsworthy Railway under section 44F(1) of the Trade Practices Act 1974 Final Recommendation 29 August 2008 Table of Contents Abbreviations and glossary of terms ............................................................................... 7 1 Council processes and final recommendation ............................................................. 13 Final recommendation ............................................................................................................ 15 2 The application .......................................................................................................... 16 The application and applicant................................................................................................. 16 The service sought to be declared .......................................................................................... 16 The facility ............................................................................................................................... 17 The service provider ............................................................................................................... 18 The decision maker ................................................................................................................. 18 Other Pilbara railway applications .......................................................................................... 19 Issues regarding the application ............................................................................................
    [Show full text]
  • View Annual Report
    [ 2 ANNUAL REPORT 2012 ANNUAL FORTESCUE METALS GROUP FORTESCUE METALS 4 Chairman’s Statement 48 Remuneration Report 6 Chief Executive Officer’s 65 Auditor’s Independence Statement Declaration 8 Operations Report 66 Financial Statements 10 Reserves and Resources 113 Directors’ Declaration 2 Report 114 Independent Auditor’s 12 Corporate Social Report to the Members Responsibility 117 Shareholder Information 28 Corporate Governance 118 Tenement Report 38 Financial Report 123 Corporate Directory 39 Directors’ Report ANNUAL REPORT 2012 ANNUAL FORTESCUE METALS GROUP FORTESCUE METALS 3 3 CHAIRMAN’S STATEMENT who has left Fortescue for their invaluable contribution. Whenever the opportunity arises you will always be welcome back and, in any event, I trust that your time with us helps spring board your future career. It has been a challenging year in many other ways. With the 4 complex and competitive rigours of construction happening right inside complex operations, our teams have still thrived and complemented each other. In true It has been an honour to Fortescue spirit, the Cloudbreak and Christmas Creek teams chair your company over recovered from two cyclones that the last 12 months as we closed the Port Hedland port in the have built our massive iron March quarter, to still deliver mined The heaviest haul volumes of 19.2 million tonnes in railway in the world. ore presence. Allow me the June quarter, up 41 per cent ANNUAL REPORT 2012 ANNUAL some observations on how from the prior period. During the June quarter we also gathered our customers view us. in Port Hedland to celebrate the of dollars in royalties, taxes and opening of our third berth at Herb government fees.
    [Show full text]
  • Public Competition Assessment 19 December 2005
    Public Competition Assessment 19 December 2005 RIO TINTO - PROPOSED ACQUISITION OF A 50% INTEREST IN THE HOPE DOWNS IRON ORE PROJECT INTRODUCTION 1. On 10 November 2005, the Australian Competition and Consumer Commission (the ACCC) announced that it had decided that the proposal by Hamersley WA Pty Ltd (Hamersley), a wholly owned subsidiary of Rio Tinto Ltd (Rio Tinto), to acquire a 50% interest in the Hope Downs Iron Ore project (the Hope Downs Project) would not have the effect, or be likely to have the effect, of substantially lessening competition in the relevant markets in contravention of section 50 of the Trade Practices Act 1974 (the Act). 2. The ACCC made its decision on the basis of the information provided by the parties and information arising from its market inquiries. This Public Competition Assessment outlines the basis on which the ACCC has reached its decision on the proposed transaction, subject to confidentiality considerations. PUBLIC COMPETITION ASSESSMENTS 3. To provide an enhanced level of transparency and procedural fairness in its decision making process, the ACCC issues a Public Competition Assessment for all transaction proposals where: a merger is rejected; a merger is subject to enforceable undertakings; the merger parties seek such disclosure; or a merger is approved but raises important issues that the ACCC considers should be made public. 4. This Public Competition Assessment has been issued because the proposed acquisition by Hamersley, a wholly owned subsidiary of Rio Tinto, of a 50% interest in the Hope Downs Project raises important issues relating to the role of key transport infrastructure as a barrier to entry in the iron ore industry.
    [Show full text]
  • Fortescue Marsh Management Strategy 2018-2024 Sept 2018
    Fortescue Marsh Management Strategy 2018–24 GOVERNMENT OF WESTERN AUSTRALIA Department of Biodiversity, Conservation and Attractions Lot 3 Anderson Road Karratha Industrial Estate KARRATHA WA 6714 Phone (08) 9182 2000 dbca.wa.gov.au © State of Western Australia 2018 This work is copyright. All content in this strategy may be downloaded, displayed, printed and reproduced in unaltered form for personal use, non-commercial use or use within your organisation. Apart from any use as permitted under the Copyright Act, all other rights are reserved. Requests and enquiries concerning reproduction and rights should be addressed to the Department of Biodiversity, Conservation and Attractions. This management strategy was prepared by the Department of Biodiversity, Conservation and Attractions. Questions regarding this strategy should be directed to: Pilbara Region Parks and Wildlife Service Department of Biodiversity, Conservation and Attractions Lot 3 Anderson Road Karratha Industrial Estate KARRATHA WA 6714 Phone: (08) 9182 2000 The recommended reference for this publication is: Department of Biodiversity, Conservation and Attractions, 2018, Fortescue Marsh Management Strategy, 2018–24, Department of Biodiversity, Conservation and Attractions, Karratha. This document is available in alternative formats on request. Cover (main) Fortescue Marsh. Photo – Steve Dillon/DBCA Inset cover (left to right): Perentie. Photo – Hamish Robertson/DBCA. Tecticornia medusa. Photo – Kevin Thiele/DBCA. Yellow-billed spoonbill. Photo – Adrienne Markey/DBCA Back cover Coondiner Pool. Photo – Hamish Robertson/DBCA Executive Summary The Fortescue Marsh (the Marsh) is the largest and most important wetland in the Pilbara region, located on the Fortescue River north of Newman in Western Australia (WA). This management strategy covers 180,000 hectares of unallocated Crown land (UCL), excised from four pastoral leases in 2015 and encompassing most of the Marsh Land System (the strategy area).
    [Show full text]
  • Eliwana Railway Project
    Report and recommendations of the Environmental Protection Authority Eliwana Railway Project Fortescue Metals Group Limited Report 1633 April 2019 Environmental impact assessment process timelines Date Progress stages Time (weeks) 21/08/17 EPA decides to assess – level of assessment set 21/12/17 EPA approved Environmental Scoping Document 18 08/08/18 EPA accepted Environmental Review Document 33 27/08/18 Environmental Review Document released for public 3 review 25/09/18 Public review period for Environmental Review Document 4 closed 05/11/18 Supplementary public review period for Native Title 6 Holders closed 15/02/19 EPA accepted Proponent Response to Submissions 15 18/02/19 EPA received final information for assessment 1 21/03/19 EPA completed its assessment 5 24/04/19 EPA provided report to the Minister for Environment 5 29/04/19 EPA report published 3 days 13/05/19 Close of appeals period 2 Timelines for an assessment may vary according to the complexity of the proposal and are usually agreed with the proponent soon after the EPA decides to assess the proposal and records the level of assessment. In this case, the Environmental Protection Authority met its timeline objective to complete its assessment and provide a report to the Minister. Dr Tom Hatton Chairman 16 April 2019 ISSN 1836-0483 (Print) ISSN 1836-0491 (Online) Assessment No. 2129 Fortescue Metals Group Limited Contents Page Executive Summary ................................................................................................. 5 1. Introduction ....................................................................................................... 6 1.1 EPA procedures ......................................................................................... 6 1.2 Assessment on behalf of Commonwealth .................................................. 6 2. The proposal ..................................................................................................... 7 2.1 Proposal summary ..................................................................................... 7 3.
    [Show full text]
  • EPBC Act Referral) • Construction of the Frederick Rail Spur Including Bulk Earthworks (Embankment) and Rail Formation
    Submission #2604 - Eliwana Railway Project Title of Proposal - Eliwana Railway Project Section 1 - Summary of your proposed action Provide a summary of your proposed action, including any consultations undertaken. 1.1 Project Industry Type Mining 1.2 Provide a detailed description of the proposed action, including all proposed activities. Fortescue Metals Group Ltd (Fortescue) is proposing to develop the Eliwana Railway Project (the Project) in the Pilbara region of Western Australia. Fortescue currently owns and operates a number of mining and infrastructure projects in the Pilbara; including the Cloudbreak, Solomon and Christmas Creek iron ore mines along with the Fortescue rail network and the Anderson Point port facility. The Project comprises the construction of the Eliwana Railway: a 120 km railway corridor linking the Proposed Eliwana Iron Ore Mine (the subject of a separate referral) with the existing Fortescue rail network. While preliminary planning for the location of these components and associated infrastructure has been undertaken, detailed design of the Eliwana Railway Project is still underway. To accommodate refinements in Project layout during the design process, the Project area has been defined through the use of a development envelope. Fortescue proposes clearing of up to 3,960 ha of native vegetation from within the 57,000 ha Rail Development Envelope. As a component of the referred Project, approximately 1,500 ha of disturbance will be rehabilitated following the completion of construction activities. Proposed infrastructure
    [Show full text]
  • Best in Class: Australia's Bulk Commodity Giants
    Best in Class: Australia’s Bulk Commodity Giants AUSTRALIAN IRON ORE: When Quality Meets Opportunity minerals.org.au Author: Dr Allon Brent Disclaimer Allon is the Principal of Global Minerals Marketing, having founded the In preparing this report, the author has sourced and relied upon consultancy after retiring as iron ore Marketing Manager from BHP in third party information. This information has been assumed to be 2016. He has over 35 years experience in the international minerals correct by the author and has not been independently verified. and metallurgical industries, having held senior management roles in While the author has used best endeavours in preparing this report, Marketing, Technology/R&D, Business Development and Operations. conclusions which are dependent on the third party information are As Iron Ore Marketing Manager for BHP, Allon played a leading role not warranted or guaranteed. in the development and implementation of marketing strategies for This report was commissioned by the Minerals Council of Australia BHP’s US$25 billion Iron Ore growth projects between 2005 and 2016. (MCA). The fee payable by the MCA was not contingent on the He has international experience in Africa, North and South America, outcome of the report. Europe, Australia and Asia. The author accepts no liability or responsibility whatsoever in respect of any use of, or reliance upon this report by any third party. 2 Best in Class: Australia’s Bulk Commodity Giants Australia is truly in a unique position on iron ore – not only does it have proximity to the largest and fastest growing markets, but it is also endowed with vast, low cost, high quality iron ore resources.
    [Show full text]