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Viento has won a contract to build a pipeline for Fortescue Metals' North Star magnetite project. The contract, worth $9.8 million, is a joint venture between Viento and Kimberley Pipelines. Work is slated for completion in November.
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BC Iron (BCI). A scoping study has demonstrated the potential technical and economic viability of the Mardie salt project. The study envisages the development of a three-million-tonne-a-year to 3.5-million-tonne-a-year operation producing high-purity industrial-grade sodium chloride salt from seawater using solar evaporation, crystallisation ...
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Newcrest soldiers on as growth projects advance Struggling miner BC Iron has announced a temporary halt to production at the Nullagine Joint Venture (NJV). Citing the continued decline of the price of iron ore, BC announced to the market last week that it was not in the best interests of the shareholders to for NJV to continue in its current form.
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Viento has won the open pit mining, crushing, and screening contract for BC Iron and Fortescue Nullagine iron ore joint venture. March 25, 2015 0 comment BC Iron leans on contractors for cost savings BC Iron is looking to renegotiate the terms of several of its workforce contracts in order to save money amid the weak price of iron ore.
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Viento will begin work in April. BC said Viento would operate a second hand Vermeer 1655 surface miner that the Nullagine joint venture had agreed to purchase from Fortescue Metals Group for $1.8 million, which would result in reduced capital-related operating charges at the site.
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The announcement comes despite a spree of recent contract wins, i ncluding a $7.3 million Rio Tinto contract and a $40 million contract at Fortescue and BC Iron's JV. However eyebrows were raised in the market last month with the appointment of Doug Grewar as new CEO, as part of the company's new focus on 'restructuring'.
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• The trend among steel companies to integrate backwards from steel production into iron ore mining was strengthened: - Fortescue, which calls itself the "New force in iron ore", completed a deal with Chinese Hunan Valin Iron & Steel Group which will bring the Chinese company's share of Fortescue up to 17.
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Viento has won the open pit mining, crushing, and screening contract for BC Iron and Fortescue Nullagine iron ore joint venture. The contract, worth around $40 million, will see Viento provide the mining and crushing and screening works for around two million tonnes per annum of ore at the Warrigal open pit, for a period of two years.
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Australian mining services contractor Viento has been backed by directors Ray Munro and John Silverthorne with an unsecured $A2M loan for general working capital and corporate purposes. The Silverthorne Family Trust advanced a $1.6M maturing in 12 months at interest of 10% pa and Munro's RCM Resources $400,000 over 6 months also at 10%.
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