Prospect September 2010

Total Page:16

File Type:pdf, Size:1020Kb

Prospect September 2010 WESTERN AUSTRALIA’S INTERNATIONAL RESOURCES DEVELOPMENT MAGAZINE September – November 2010 $3 (inc GST) Securing the future Agreement paves way for major new iron ore project Print post approved PP 665002/00062 approved Print post DEPARTMENT OF STATE DEVELOPMENT International Trade and Investment 1 Adelaide Terrace East Perth, Western Australia 6004 Tel: +61 8 9222 0566 • Fax: +61 8 9222 6151 Email: [email protected] www.dsd.wa.gov.au INTERNATIONAL OFFICES Europe European Offi ce • 5th fl oor, Australia Centre Corner of Strand and Melbourne Place London WC2B 4LG • UNITED KINGDOM Tel: +44 20 7240 2881 • Fax: +44 20 7240 6637 Email: [email protected] India — Mumbai Western Australian Trade Offi ce Securing future resources growth 93 Jolly Maker Chambers No 2 Western Australia’s resources sector is going from strength-to-strength with 9th fl oor, Nariman Point • Mumbai 400 021 • INDIA Tel: +91 22 6630 3973 • Fax: +91 22 6630 3977 a number of signifi cant projects set to transform the State’s north-west and Email: [email protected] help secure the future growth of the State’s resources industry. India — Chennai Western Australian Trade Offi ce - Advisory Offi ce In June, the Western Australian Government signed a historic agreement 1 Doshi Regency • 876 Poonamallee High Road with the State’s two largest iron ore producers that will secure further Kilpauk • Chennai 600 084 • INDIA development of the Pilbara iron ore industry and increase Tel: +91 44 2640 0407 • Fax: +91 44 2643 0064 Email: [email protected] Western Australia’s royalty income. Indonesia — Jakarta The agreement with BHP Billiton and Rio Tinto presents a new chapter in Western Australia Trade Offi ce Wisma Budi Building • fl oor 5 Suite 504 the State’s resources industry. JI H R Rasuna Said Kav C-6 Kuningan, Jakarta 12940 • INDONESIA Also in June, the Western Australian Government gave the green light to a Tel: +62 21 5290 2860 • Fax: +62 21 5296 2722 dedicated railway for the transportation and export of Roy Hill iron ore. Email: [email protected] Japan — Tokyo The project will see a 300 kilometre railway connect the Roy Hill mine with Government of Western Australia, Tokyo Offi ce port facilities in Port Hedland and, on completion, will enable greater access 13th fl oor, Fukoku Seimei Building 2-2-2 Uchisaiwai-cho Chiyoda-ku for smaller miners to rail infrastructure in the region. • TOKYO 100-0011 • JAPAN Tel: +81 3 5157 8281 • Fax: +81 3 5157 8286 The Roy Hill mine is expected to be a feature in Western Australia’s resource Email: [email protected] industry for many years to come, delivering jobs, investment and prosperity Japan — Kobe in the Pilbara. Western Australian Government Offi ce 6th fl oor, Golden Sun Building • 4-3-6 Nakayamate-dori Another signifi cant project for the north-west is the new deepwater port at Chuo-Ku • Kobe 650-0004 • JAPAN Anketell, located 30 kilometres east of Karratha. Tel: +81 78 242 7705 • Fax: +81 78 242 7707 Email: [email protected] The multi-user, multi-commodity deepwater port and strategic industrial area Malaysia — Kuala Lumpur will promote regional development and boost Western Australia’s growth and Western Australian Trade Offi ce export potential. 4th fl oor, UBN Tower • 10 Jalan P Ramlee KUALA LUMPUR 50250 • MALAYSIA Tel: +60 3 2031 8175/6 • Fax: +60 3 2031 8177 These projects add to Western Australia’s reputation as being one of the Email: [email protected] world’s greatest mineral precincts and will help secure the State’s future Middle East — Dubai resources growth, delivering long-term benefi ts for all Western Australians. Western Australian Trade Offi ce • Emarat Atrium PO Box 58007 • Dubai • UNITED ARAB EMIRATES Colin Barnett Tel: +971 4 343 3226 • Fax: +971 4 343 3238 PREMIER OF WESTERN AUSTRALIA & MINISTER FOR STATE DEVELOPMENT Email: [email protected] People’s Republic of China — Shanghai Norman Moore Western Australian Trade and Investment Promotion MINISTER FOR MINES AND PETROLEUM Room 2208 • CITIC Square 1168 Nanjing Road West SHANGHAI 20004 • PEOPLES REPUBLIC OF CHINA Tel: +86 21 5292 5899 • Fax: +86 21 5292 5889 Email: [email protected] Prospect Western Australian Prospect magazine is published quarterly by the People’s Republic of China — Hangzhou Western Australian Government’s Department of Mines and Petroleum (DMP) Western Australian Trade and Investment Promotion and Department of State Development (DSD). Hangzhou Representative Offi ce Editorial management: Rebecca Atkinson, DSD Communications and Marketing Division. Room 1705 • World Trade Offi ce Plaza Zhejiang World Trade Centre Tel: (08) 9222 0417 • Fax: (08) 9222 0505 122 Shuguang Road • Hangzhou 310007 Disclaimer PEOPLES REPUBLIC OF CHINA Prospect has been compiled in good faith by the Department of Mines and Petroleum (DMP) and Department of State Development (DSD). Opinions Tel: +86 571 8795 0296 • Fax: +86 571 8795 0295 expressed in Prospect are those of the authors and do not necessarily represent the views, or have the endorsement of DMP and DSD. DMP and Email: [email protected] DSD has used all reasonable endeavours to ensure the material contained in this publication is correct, but it is intended to be general in nature. No representation is made with regard to the completeness or accuracy of the information contained herein. DMP and DSD disclaims any or all liability for loss or damage whatsoever suffered or incurred resulting from the use of or reliance on information contained herein. Readers of this publication South Korea — Seoul should make and rely on their own enquiries, research and judgements in making decisions affecting their own or any other persons interest. Western Australian Trade and Investment Offi ce Unit 702 • 7th Floor • Kwanghwamoon Building 211 Sejongno, Jongno-gu Cover photo: Roy Hill Iron Ore Mine site in the Pilbara. A State Agreement with Roy Hill Seoul • South Korea 110-730 • KOREA Infrastructure Pty Ltd will see the mine connected to infrastructure in Port Hedland. Tel: +82 2 722 1217 • Fax: +82 2 722 1218 Photo courtesy of Hancock Prospecting Pty Ltd. Email: [email protected] In this issue 04 06 09 16 22 27 04 Railway for Roy Hill 16 Th e Golden Gecko Awards Rail agreement paves way for jobs, investment and prosperity From recycling worn teeth to surveying Malleefowl mounds in the Pilbara – diverse array of submission received for this year’s environmental excellence awards 06 Transforming the north New deepwater port for the Pilbara at Anketell 22 On the RADAR(S) Moving ahead with resources safety reforms 09 Integra on track 27 Star attraction Integra Mining to become the newest Australian gold producer One of the mining industry’s biggest stars debuts in Kalgoorlie Department of Mines and Petroleum Department of Mines and Petroleum Department of State Development Department of State Development www.dmp.wa.gov.au www.dsd.wa.gov.au AGREEMENT on major new Pilbara iron ore mine and infrastructure project Western Australian Government support peak construction and about 750 people proven resource base that will sustain for construction of a 300 kilometre when operational. the project for at least the next two railway will enable development of decades,” the Premier said. The project is being developed by parent a major new iron ore project in company, Hancock Prospecting Pty “This project adds to this State’s Western Australia’s Pilbara region. Ltd, an established Western Australian reputation as being one of the world’s A State Agreement between the minerals exploration and development great mineral precincts, vital in feeding Government and Roy Hill Infrastructure company, with other participants the powerhouse economies in Pty Ltd allows for construction of a including the Republic of Korea’s north Asia. railway, in a corridor connecting the Pohang Iron and Steel Company “It will also create new opportunities Roy Hill Iron Ore Mine with (POSCO) and STX Corporation. Port Hedland Port. for smaller miners in the Pilbara by The Agreement also includes provision providing better access to rail and The Agreement also provides for port for smaller miners to access the rail port infrastructure.” facilities that include stockyards, infrastructure, either directly, or through The Agreement is currently before rail loops, train unloading facilities, the company providing haulage services. conveyors and other infrastructure, to the Western Australian Parliament transport the iron ore to Port Hedland’s As part of the Agreement, the company for ratifi cation. will consult with communities in the Inner Harbour, where the company The Department of State Development, region and their local governments to will construct two new berths and on behalf of the State Government, prepare a community development plan. ship loading facilities. negotiated the Roy Hill Agreement and Construction of the iron ore mine is This plan will include strategies for has ongoing responsibility for overseeing expected to commence in mid-2011, developing a regionally based workforce, its implementation. providing training and employment with production beginning in 2014, After initial discussions in 2009, formal opportunities, local procurement of and reaching optimum production of negotiations on the Agreement, which goods and services and contributing 55 million tonnes per annum in 2018. began in March 2010, were concluded to community services, facilities and in June. Roy Hill Iron Ore says that exploration development activities. has defi ned more than 2.3 billion tonnes Roy Hill Iron Ore has environmental of low phosphorus iron ore at indicated Western Australia’s Premier Colin approval to construct and operate and inferred Joint Ore Resources Barnett announced the Agreement its mine, and the Department, as the Committee (JORC) classifi cation levels. in July, 2010 congratulating Hancock Western Australian Government’s Prospecting and its Korean partners.
Recommended publications
  • September Shire of Roebourne Local Planning Strategy Evidential Analysis Paper: (Major Industry Projects)
    September Shire of Roebourne Local Planning Strategy Evidential Analysis Paper: (Major Industry Projects) Shire of Roebourne – Economic Development Strategy Preliminary Paper Version Control Document History and Status Status Issued To Qty Date Reviewed Approved Draft MP 1 23/4/13 Report Details Name: Author: Client: Name of doc: Doc version: Project number: P85029 SM Shire of Shire of Roebourne Electronic Draft 85029 MPD Roebourne – Local Planning P1263 SM Strategy 3103 PS Disclaimer: If you are a party other than the Shire of Roebourne, MacroPlan Dimasi: owes you no duty (whether in contract or in tort or under statute or otherwise) with respect to or in connection with the attached report or any part thereof; and will have no liability to you for any loss or damage suffered or costs incurred by you or any other person arising out of or in connection with the provision to you of the attached report or any part thereof, however the loss or damage is caused, including, but not limited to, as a result of negligence. If you are a party other than the Shire of Roebourne and you choose to rely upon the attached report or any part thereof, you do so entirely at your own risk. The responsibility for determining the adequacy or otherwise of our terms of reference is that of the Shire of Roebourne. The findings and recommendations in this report are given in good faith but, in the preparation of this report, we have relied upon and assumed, without independent verification, the accuracy, reliability and completeness of the information made available to us in the course of our work, and have not sought to establish the reliability of the information by reference to other evidence.
    [Show full text]
  • Welcome to Cloudbreak
    Welcome to Cloudbreak This booklet provides you with the information needed to help make your stay at Cloudbreak more pleasant. Please take the time to read through the information before arriving on site. FEBRUARY 2009 Table of Contents Welcome Message ........................................................................................... 1 Foreword ..................................................................................................... 1 PART ONE: Before you depart ......................................................................... 2 The Pilbara ....................................................................................................... 3 Fortescue Metals Group Limited ...................................................................... 3 Cloudbreak....................................................................................................... 3 Packed and ready to go .................................................................................... 4 At the departure lounge ............................................................................... 4 Parking at Perth Airport ............................................................................... 5 Staying in touch ............................................................................................... 5 On Arrival ......................................................................................................... 5 At the Airstrip ..............................................................................................
    [Show full text]
  • UGL Limited, Roy Hill – Western Australia
    FACT SHEET UGL Limited, Roy Hill – Western Australia Roy Hill Iron Ore mine, the only independent iron ore project with CUSTOMER UGL Limited West Australian majority ownership, is a 655 million tonne per LOCATION Roy Hill, Western Australia annum iron ore mining, rail and port development in the Pilbara DESCRIPTION Penske Australia has supplied, region. Situated approximately 115 kilometres north of Newman, commissioned and managed the Roy Hill is a world-class, low phosphorus iron ore deposit. installation of three diesel-powered containerised gensets from MTU for The operation consists of a conventional open pit mine and wet the diesel power station, as part of processing plant. There is a single rail line for heavy haul cartage Alinta Energy’s power supply to the and a purpose built two-berth iron ore port facility at Port Hedland Roy Hill Iron Ore mine that is capable of stockpiling, screening and exporting mined product. OPERATIONAL DATE August 2015 Roy Hill enlisted the services of Alinta on the two-phase construction project to provide a 121 km 220 kV transmission line and substation with 6 MW diesel back-up power. Alinta partnered with Penske Australia customer UGL Engineering, under a turnkey design and construction contract. CONFIGURATION As part of the project with UGL, Penske Australia has installed and commissioned three state-of-the-art containerised gensets from MTU to deliver critical power solutions for the mine infrastructure. The generators are configured to run in various operational modes including blackstart operation, island operation and grid parallel mode. FEATURES The DP 2870 D5C diesel gensets feature the 20V 4000 G63 engine and deliver 2.5 MW prime power at 50 degrees ambient, critical for the harsh heat and aridity of the Pilbara.
    [Show full text]
  • Quarterly Activities and Cashflow Report for Period Ending 30 June 2008
    4 July 2008 The Company Announcements Office ASX Limited Via E Lodgement QUARTERLY ACTIVITIES AND CASHFLOW REPORT FOR PERIOD ENDING 30 JUNE 2008 Yours faithfully CAPE LAMBERT IRON ORE LIMITED Ian Burston Executive Chairman Cape Lambert Iron Ore Limited 4 July 2008 June 2008 Quarterly Report Page 2 of 9 REPORT FOR THE QUARTER ENDING 30 JUNE 2008 COMPANY HIGHLIGHTS Corporate • A General Meeting of Shareholders to consider the sale of the Cape Lambert Iron Ore project is scheduled for 28 July 2008, • A Notice of Meeting has been mailed to Shareholders and can be downloaded from the Company’s website at www.capelam.com.au, • Subject to Shareholders approving the sale of the Project and the receipt of Chinese government approvals, the first tranche of AUD$240 million is to be paid by MCC on 31 July 2008 with payment of the second tranche of AUD$80 million due on 15 September 2008, • At the end of the quarter, the Company had cash of AUD$16.2 million, • During the quarter, 3.3 million options exercisable at AUD$0.90 each on or before 30 June 2008 lapsed without being exercised, • On 28 April 2008, the Company appointed Grant Thornton UK LLP as Nominated Adviser pursuant to its admission to London’s AIM market. Cape Lambert South Project • The 3km long, untested magnetic anomaly located on ELA 47/1493, which is excluded from the MCC sale, has been named the Cape Lambert South Project, • Preliminary enquiries have been issued to drilling contractors to secure a multi- purpose drill rig to enable drilling to commence at Cape Lambert South in September/October 2008.
    [Show full text]
  • 1. Gina Rinehart 2. Anthony Pratt & Family • 3. Harry Triguboff
    1. Gina Rinehart $14.02billion from Resources Chairman – Hancock Prospecting Residence: Perth Wealth last year: $20.01b Rank last year: 1 A plunging iron ore price has made a big dent in Gina Rinehart’s wealth. But so vast are her mining assets that Rinehart, chairman of Hancock Prospecting, maintains her position as Australia’s richest person in 2015. Work is continuing on her $10billion Roy Hill project in Western Australia, although it has been hit by doubts over its short-term viability given falling commodity prices and safety issues. Rinehart is pressing ahead and expects the first shipment late in 2015. Most of her wealth comes from huge royalty cheques from Rio Tinto, which mines vast swaths of tenements pegged by Rinehart’s late father, Lang Hancock, in the 1950s and 1960s. Rinehart's wealth has been subject to a long running family dispute with a court ruling in May that eldest daughter Bianca should become head of the $5b family trust. 2. Anthony Pratt & Family $10.76billion from manufacturing and investment Executive Chairman – Visy Residence: Melbourne Wealth last year: $7.6billion Rank last year: 2 Anthony Pratt’s bet on a recovering United States economy is paying off. The value of his US-based Pratt Industries has surged this year thanks to an improving manufacturing sector and a lower Australian dollar. Pratt is also executive chairman of box maker and recycling business Visy, based in Melbourne. Visy is Australia’s largest private company by revenue and the biggest Australian-owned employer in the US. Pratt inherited the Visy leadership from his late father Richard in 2009, though the firm’s ownership is shared with sisters Heloise Waislitz and Fiona Geminder.
    [Show full text]
  • J a N H O P E & Partners
    J A N H O P E & PARTNERS PUBLIC RELATIONS CORPORATE COMMUNICATIONS ABN 55 042 486 807 Business Iron ore alliance aims to pressure miners for infrastructure access JOHN PHACEAS, PERTH 477 words 19 February 2007 The Age First 1 English © 2007 Copyright John Fairfax Holdings Limited. www.theage.com.au Not available for re- distribution. FOURTEEN prospective Pilbara iron ore miners have formed a fledgling alliance to fight for access to critical transport infrastructure in the region, including the massive port and rail networks of mining giants BHP Billiton and Rio Tinto. The so-called Pilbara Iron Ore Alliance will aim to present a united front to lobby for infrastructure access and investment to unlock hundreds of millions of tonnes of "stranded" iron ore resources in the region. The group is expected to adopt a similar approach to that of the Geraldton Iron Ore Alliance, which was launched last year to present a united voice in representing start-up iron ore miners in the state's mid-west, especially in relation to co-ordinating their conflicting infrastructure requirements. At a meeting at the West Perth headquarters of the Association of Mining and Exploration Companies last week, representatives from the 14 iron ore juniors met to formulate the agenda and core objectives of the alliance. Last week's meeting was initiated by Atlas Iron chief executive David Flanagan, whose company is racing with Fortescue Metals to become the first new iron ore miner in the Pilbara in more than two decades. Atlas hopes to commission its boutique 1-million-tonnes-a-year Pardoo hematite mine near Port Hedland early in 2008.
    [Show full text]
  • Apr13 Fmc1 Agenda Item 7.1 Notice of Motion Cr Mayne Rio Tinto.Pdf
    Page 1 of 10 FUTUREMELBOURNE(PLANNING)COMMITTEE Agenda Item 7.1 REPORT Agenda Item 6.1 9 April 2013 NOTICE OF MOTION: In light of the following attachments: 1. Attachment A: Transcript of discussion at 2008 Rio Tinto AGM in Brisbane in relation to location of global headquarters. 2. Attachment B: Peter Costello column in The Age/SMH on February 18, 2009, related to how he insisted BHP-Billiton retain its global headquarters in Australia. 3. Attachment C: Peter Costello's formal announcement of conditions related to approving BHP-Billiton merger. 4. Attachment D: AAP article in The Australian on January 20, 2013, related to Gina Rinehart's call for Rio Tinto to move its headquarters from London to Perth. 5. Attachment E: Full statement by Gina Rinehart on appointment of Sam Walsh as Rio Tinto CEO. Council notes with concern that: 6. Rio Tinto has almost completed a restructuring program which will reduce its Melbourne office from approximately 300 staff in 2011 to just 25 by the end of 2013. 7. Rio Tinto generates more than 80% of its profits and value from extracting publicly-owned mineral resources in Australian jurisdictions. 8. Rio Tinto continues to maintain its global headquarters in London with almost 700 staff despite having no mining operations in the United Kingdom. 9. Only 1 of Rio Tinto's existing directors are based in Australia. • 10. Rio Tinto has recently appointed two Melbourne-raised individuals, Sam Walsh and Chris Lynch, as chief executive and chief financial officer respectively, but insisted both relocate to London to perform these roles.
    [Show full text]
  • Case Study: Rio Tinto Iron Ore (Pilbara Iron) Centralized Monitoring Solution
    Case Study: Rio Tinto Iron Ore (Pilbara Iron) Centralized Monitoring Solution of 2007, seven mines all linked by the world’s largest privately owned rail network. CHALLENGES To meet the growing demand for their iron ore, particularly from the ever-growing Chinese market, Pilbara Iron were faced with the challenge of increasing production from their mining operations, or more importantly preventing stoppages in production, while maintaining quality. It was recognized that the process control systems at their processing plants were critical assets required to be available and reliable while keeping the plant within the optimal production limits. At the same time the mining industry, like most industries, was and is facing a worldwide shortage of skilled labor to operate and maintain their plants. Rio Tinto Iron Ore Figure 1. Pilbara Iron’s operations has the added burden of very remote mining operations, making it even harder to attract and retain experienced and skilled labor, PROFILE particularly control and process engineers. The mining operations of Rio Tinto Iron Ore (Pilbara Iron) in Australia are located in the Pilbara Region, In order to offer the benefits of living in a a remote outback area in northwest Western modern thriving city, a group of process control Australia, some 1200 kilometers from Perth. Pilbara professionals was established in Perth. Iron has three export port facilities and, by the end The members of this team came from Rio Tinto A WEB-BASED SOLUTION Asset Utilization, a corporate support group To meet this need a centralized monitoring solution established within Rio Tinto at the time to address was established, with data collection performed at performance improvement across all operations the sites and analysis and diagnosis undertaken worldwide, and Pilbara Iron itself.
    [Show full text]
  • Cape Lambert to Emu Siding Rail Duplication
    Cape Lambert to Emu Siding Rail Duplication Assessment on Proponent Information DRAFT Prepared for Rio Tinto by Strategen April 2011 Cape Lambert to Emu Siding Rail Duplication Assessment on Proponent Information DRAFT Strategen is a trading name of Strategen Environmental Consultants Pty Ltd Level 2, 322 Hay Street Subiaco WA ACN: 056 190 419 April 2011 Disclaimer and Limitation This report has been prepared for the exclusive use of the Client, in accordance with the agreement between the Client and Strategen (“Agreement”). Strategen accepts no liability or responsibility whatsoever for it in respect of any use of or reliance upon this report by any person who is not a party to the Agreement. In particular, it should be noted that this report is a qualitative assessment only, based on the scope of services defined by the Client, budgetary and time constraints imposed by the Client, the information supplied by the Client (and its agents), and the method consistent with the preceding. Strategen has not attempted to verify the accuracy or completeness of the information supplied by the Client. Copyright and any other Intellectual Property arising from the report and the provision of the services in accordance with the Agreement belongs exclusively to Strategen unless otherwise agreed. This document may not be reproduced or disclosed to any person other than the Client without the express written authority of Strategen unless the document has been released for referral and assessment of proposals. Client: Rio Tinto Report Version Prepared
    [Show full text]
  • Magnetite Makes a Comeback Under Magnate
    Australian 10/03/2008 Page: 33 Business News Region: National Circulation: 133000 Type: National Size: 219.06 sq.cms MTWTF Magnetite makesacomeback under magnate Nigel Wilson Hematite is usually associated amount of en-below 65 per cent. Just as impor- Energy writer with alumina. ergy they use fortant is the capability of producing This means that a lot of energy both cost and en-magnetite pellets with less than 5 IAN Burston is a West Australian needs to be employed by steel vironmental rea-per cent silica content. legend, a man synonymous with mills in the sintering process that sons. There are a number of magne- the development of the iron oreremoves impurities such as alu- This makes tite hopefuls in WA, particularly industry in WA. mina. pelletising in in the Murchison region east of Now executive chairman of Magnetite host rocks do not Australia for nat- Geraldton, but Burston argues Cape Lambert Iron Ore, he has containalumina,butcontain Burston ural gas that the Cape Lambert project held many executive manage- silica. rather than thelocated 5km from the Pilbara ment posts in the mining sector Because it has a lower iron oil fuel used in the 1970s and 80s coast, 10km from Rio Tinto's since being Hamersley Iron's content than hematite, magnetite a far more viable proposition. Cape Lambert iron ore port with managing director in the 1970s. has been regardedasaless "`What we are doing is takingdirect connection to nearby infra- There he oversaw the develop- attractive proposition. the energycostof removingstructure and the townships of ment of the mining of hematite In the 1980s, the iron ore alumina from hematite from the Karratha, Roebourne and Wick- first as lump ore then as fines, industry was characterised by steel producers and giving them a ham, make it a shoo-in.
    [Show full text]
  • Speech Given by Mrs Gina Rinehart at the National Mining and Related Industry Day in Port Hedland on 22Nd November 2015
    Speech Given by Mrs Gina Rinehart at the National Mining and Related Industry Day in Port Hedland on 22nd November 2015 Welcome to this year’s national mining and related industries day! And, welcome to my home territory, the Pilbara! How exciting is it that the first ship for Roy Hill is sailing toward Port Hedland as we enjoyed the annual ball last night, and the first train of fine ores will be arriving into Port Hedland as we celebrate the national mining and related industries day together! Perhaps on Mining and Related Industries day and given we are meeting this year in the Pilbara, I should share a little of the story of my time as the Chairman of our Australian private company, Hancock Prospecting, which started as a West Australian pastoral and exploration company. Plus in more recent years, as chair of Roy Hill also. Despite what too many in the media inaccurately imply, Hancock Prospecting hasn’t always been the successful multi billions company it is today. The reality was we had many, many tough years. Mistakes made prior to my chairmanship left us with difficulties and liabilities we weren’t able to pay off for almost a decade, limiting our ability for exploration and investment and growth. Indeed, unable to pay all the government obligations on Roy Hill, we lost approx. half of Roy Hill. Media wrongly refer to the assets of the company then being worth billions of dollars, confusing then with now, even wrongly referring to a trust owning a minority interest back then being worth billions of dollars, whereas what was actually there when I took over the responsibilities of chair was a very different reality, the few remaining company assets were mortgaged to the hilt, or under legal claim or under threat of legal claim, liabilities and contingent liabilities, with cheques being written and left in drawers until the quarterly then small, royalty cheque arrived to cover them.
    [Show full text]
  • Pilbara 1 (PIL1 – Chichester Subregion)
    Pilbara 1 Pilbara 1 (PIL1 – Chichester subregion) PETER KENDRICK AND NORM MCKENZIE AUGUST 2001 Subregional description and biodiversity arnhemensis and other Critical Weight Range mammals, arid zone populations of Ghost Bat (Macroderma gigas), values Northwestern Long-eared Bat (Nyctophilus bifax daedalus) and Little Northwestern Free-tailed Bat Description and area (Mormopterus loriae cobourgensis) are also significant in the subregion. The Chichester subregion (PIL 1) comprises the northern section of the Pilbara Craton. Undulating Rare Flora: Archaean granite and basalt plains include significant Species of subregional significance include Livistona areas of basaltic ranges. Plains support a shrub steppe alfredii populations in the Chichester escarpment characterised by Acacia inaequilatera over Triodia (Sherlock River drainage). wiseana (formerly Triodia pungens) hummock grasslands, while Eucalyptus leucophloia tree steppes occur on ranges. Centres of endemism: The climate is Semi-desert-tropical and receives 300mm Bioregional endemics include Ningaui timealeyi, an of rainfall annually. Drainage occurs to the north via undescribed Planigale, Dasykaluta rosamondae, numerous rivers (e.g. De Grey, Oakover, Nullagine, Pseudomys chapmani, Pseudantechinus roryi, Diplodactylus Shaw, Yule, Sherlock). Subregional area is 9,044,560ha. savagei, Diplodactylus wombeyi, Delma elegans, Delma pax, Ctenotus rubicundus, Ctenotus affin. robustus, Egernia pilbarensis, Lerista zietzi, Lerista flammicauda, Dominant land use Lerista neander, two or three undescribed taxa within Lerista muelleri, Notoscincus butleri, Varanus pilbarensis, Grazing – native pastures (see Appendix B, key b), Acanthophis wellsi, Demansia rufescens, Ramphotyphlops Aboriginal lands and Reserves, UCL & Crown Reserves, pilbarensis, and Ramphotyphlops ganei. Conservation, and Mining leases. Refugia: Continental Stress Class There are no known true Refugia in PIL1, however it is possible that calcrete aquifers in the upper Oakover Continental Stress Class for PIL1 is 4.
    [Show full text]