BHP Billiton Ships Billionth Ton of Iron Ore to Japan
Australian mining giant BHP Billiton has hit a new milestone, shipping its billionth ton of iron ore to Japan.
The company, which shipped its first ton to Japan in 1966, celebrated the achievement with customers, joint venture participants and employees at Port Hedland in Western Australia.
“Today the high-quality iron ore we export from the Pilbara is an essential ingredient for Japan’s high-tech steel industry which leads the world in technology and efficiency,” said BHP president of iron ore Jimmy Wilson.
“BHP Billiton shipped its first tonne of iron ore to Japan in 1966 and we are proud of the nation-building role we have helped play since that time.”
Western Australia’s Pilbara region was built on Japan’s demand for the precious metal in the late 1960s and 70s. It helped shape the heavy industry, manufacturing and technology sectors WA enjoys today.
“We also owe much to Japan for their role in growing the iron ore industry in the Pilbara. Our joint venture participants ITOCHU and Mitsui contributed capital, and as trading companies they were a key link into Japanese markets,” said Wilson.
Iron ore production has grown since 1966. BHP’s production capacity now reaches 220 million tons per year and growing. According to Wilson, BHP is putting all the necessary components together to ensure the Australia’s mining industry prospers for a very long time.
“Over the past decade, we have invested US$24 billion in Western Australia’s mines, rail and port infrastructure and continue to adopt new technology to ensure our operations remain world-class,” said Wilson.
“As we enter our next phase of growth, we are continuing to improve our productivity, optimizing our installed capacity and working our assets harder and smarter to deliver on our customers’ expectations.”
BHP Billiton expects to ship its billionth ton of iron ore to China later this year.
Newmont acquires Canada’s GT Gold in $325mn deal
Newmont, the world’s biggest gold miner, has acquired Canada’s GT Gold in a deal worth $325mn. The gold giant now controls the Tatogga gold-copper project in the Traditional Territory of the Tahltan Nation.
“With the acquisition of GT Gold and the Tatogga project in the highly sought-after Golden Triangle district of British Columbia, Canada, Newmont continues to strengthen our world-class portfolio,” commented Newmont President and CEO Tom Palmer.
“We look forward to continuing to build a respectful and meaningful relationship with the Tahltan Nation, including the community of Iskut. The relationships we have with Indigenous communities, First Nations and host communities are critical to the way we operate. We will partner with the Tahltan Nation at all levels, and with the Government of British Columbia to ensure a shared path forward as the Company understands and acknowledges that Tahltan consent is necessary for advancing the Tatogga project.”
Newmont’s acquisition includes the Tatogga project, comprised primarily of the Saddle North deposit, which has the potential to contribute future significant gold and copper annual production. There are also further exploration opportunities beyond the known deposits at Saddle North within the land package. The Tatogga project adds to Newmont’s existing interest in the prospective Golden Triangle through the company’s 50% ownership in the Galore Creek project.
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. A world-class portfolio of assets, prospects and talent is anchored in favourable mining jurisdictions in North America, South America, Australia and Africa. The American miner is celebrating its 100th anniversary this month.
With gold prices on the rise, the last six months has seen gold industry M&A activity accelerating. A recent Mckinsey report, advises that the industry need to be mindful of mistakes made during the previous gold price boom, when growth was chased unidirectionally by several companies.