MELBOURNE (Reuters) - The state of Western Australia said on Monday an audit had found global miner BHP Group <BHP.AX> underpaid royalties on iron ore shipments sold via its Singapore marketing hub stretching back over more than a decade. BHP quickly disputed the claim, saying long-standing deductions it makes to account for the cost of selling Western Australia iron ore had been consistently audited and accepted by the state as part of calculations on how much the world's biggest miner owed it in royalty payments. State Treasurer Ben Wyatt told reporters on Monday the underpayments added up to around A$200 million-A$300 million ($143 million-$215 million) covering 2004-2016. "The State Government is negotiating with BHP to resolve the matter in the best interests of the State," Premier Mark McGowan's office said in a statement. In its own statement, BHP said the Western Australia Mines Department had recently queried the historically accepted deductions for costs. "It is … [Read more...] about Western Australia claims BHP owes up to $215 million in underpaid iron ore royalties
Ore
Anglo American resumes iron-ore operations at Minas-Rio
LONDON (Reuters) - Anglo American <AAL.L> said on Friday it was restarting operations at its Minas-Rio iron ore mine in Brazil after months of closure and said it expected an underlying EBITDA loss of $320 million (253 million pounds) for 2018 as a result of the outage. Provided it receives the necessary permit, Anglo American said it expected operations to ramp up to 1.2 million tonnes of iron ore per month and to produce approximately 16-19 million tonnes of iron ore in 2019.gi The expected EBITDA (earnings before interest, tax, depreciation and amortisation) loss is at the lower end of the range Anglo previously guided of $300-400 million.The company halted production at the mine after two leaks in March in the pipeline, which channels slurry more than 500 km (310 miles) from Minas Gerais state to the port in Rio de Janeiro state.In November, a notice seen by Reuters showed the company expected the pipeline to be ready to receive iron ore from Minas-Rio by the end of that … [Read more...] about Anglo American resumes iron-ore operations at Minas-Rio
Inspections up in Lào Cai ore trade
The General Department of Market Surveillance is examining the transportation of ore and minerals in border areas in the northern province of Lào Cai after the media reported ore was being smuggled from the province into China.—Photo laodong.vn LÀO CAI — The General Department of Market Surveillance is examining the transportation of ore and minerals in border areas in the northern province of Lào Cai after the media reported ore was being smuggled from the province into China. Head of the department Trần Hữu Linh told the Lao động (Labour) newspaper on Sunday that its branch in Lào Cai is verifying the reports and has tightened inspections of ore exploitation, transport, storage and export operations. Linh said the department expected to receive its branch report on the issue this week. Late last month, the newspaper reported that thousands of tonnes of ore and minerals were illegally transported to China through Bản … [Read more...] about Inspections up in Lào Cai ore trade
Illegal transport of ores checked
Viet Nam News LÀO CAI — The northern mountainous province of Lào Cai has been carrying out inspections to manage the transportation of ore and minerals in border areas. Some newspapers have recently reported the illegal transport of ore to China via Bản Phiệt Village in Bảo Thắng District. In response, Lào Cai People’s Committee has set up a special team to inspect the border trade. The team have been checking warehouses in the border area and along the Nậm Thi River, which are often stop-off points for traders. In a warehouse, the team found substances which were suspected as ores. After checking, Deputy Chairman Lê Ngọc Hưng who led the team requested the Border Guard, Customs, Police, relevant offices and local governments of districts which had borders with China to rectify border management activities to control the illegal ore transportation including monitoring the warehouses in border areas. The … [Read more...] about Illegal transport of ores checked
Anti-Trump mayor of Portland, Ore., mutters he ‘can’t wait’ to leave office
close Video Portland mayor wants to cancel 'Trump free speech' rally Mayor Ted Wheeler says he's concerned those in attendance could 'peddle a message of hatred' Being mayor of Portland, Ore., may have gotten to Ted Wheeler. On Thursday, after finishing a speech at the Oregon Health Forum in which he was heckled, Wheeler mumbled, “I can’t wait for the next 24 months to be over,” indicating he may not seek re-election, the Oregonian reported. "If you know me, you know I mutter quite a bit,” Wheeler said in a statement issued later in the day. “Not one of my most redeeming qualities. I will make a decision next year with my family if I am running for re-election." "If you know me, you know I mutter quite a bit. Not one of my most redeeming qualities. I will make a decision next year with my family if I am running for re-election." — Ted Wheeler, mayor of Portland, Ore. In previous media interviews, Wheeler has complained about the … [Read more...] about Anti-Trump mayor of Portland, Ore., mutters he ‘can’t wait’ to leave office