{"id":1173,"date":"2015-12-15T09:05:26","date_gmt":"2015-12-14T22:05:26","guid":{"rendered":"http:\/\/www.bnmme.com.au\/?p=1173"},"modified":"2015-12-15T09:05:26","modified_gmt":"2015-12-14T22:05:26","slug":"bc-iron-to-close-gates-at-nullagine","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2015\/12\/15\/bc-iron-to-close-gates-at-nullagine\/","title":{"rendered":"BC Iron to close gates at Nullagine"},"content":{"rendered":"

Struggling miner BC Iron has announced a temporary halt to production at the Nullagine<\/strong> Joint Venture (NJV).<\/p>\n

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.<\/p>\n

The tough decision will see 25 per cent FMG joint venture suspended progressively over December and January, with exports completed during January.<\/p>\n

It has been suggested that BC will sell its unprocessed 11 million wet metric tonne stockpile to FMG under a mine gate sale arrangement, albeit at a reduced rate.<\/p>\n

Managing director Morgan Ball said BC was a \u201cprice taker\u201d and that despite successful cost reductions by staff and contractors the market had forced this unfortunate decision.<\/p>\n

\u201cI would like to thank our joint venture partner, Fortescue, for their strong contribution to the success of the NJV over the last five years of operations<\/strong> and also the West Australian Government for its willingness to work with and support the resources industry,\u201d he said.<\/p>\n

\u201cMost importantly, I thank all of our committed employees and contractors who have worked so hard to build the NJV to a 6Mtpa operation and worked even harder again during the last 18 months to maintain BC Iron\u2019s competitive position in a very challenging market.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

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. The … Continue reading “BC Iron to close gates at Nullagine”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6],"tags":[],"class_list":["post-1173","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-iV","jetpack-related-posts":[{"id":804,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/02\/02\/nullagine-joint-venture\/","url_meta":{"origin":1173,"position":0},"title":"Nullagine Joint Venture","author":"yinghui","date":"February 2, 2015","format":false,"excerpt":"The Nullagine Joint Venture (NJV) is an unincorporated 75:25 joint venture between BC Iron and Fortescue Metals Group (Fortescue), which is located approximately 150km north of Newman in the Pilbara region of Western Australia. The NJV is a producing iron ore mine with the capacity to export up to 6Mtpa\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"Nullagine-Joint-Venture-location","src":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2015\/02\/Nullagine-Joint-Venture-location.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2015\/02\/Nullagine-Joint-Venture-location.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2015\/02\/Nullagine-Joint-Venture-location.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":1799,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/10\/10\/bc-iron-sells-interest-in-nullagine-to-fortescue\/","url_meta":{"origin":1173,"position":1},"title":"BC Iron sells interest in Nullagine to Fortescue","author":"yinghui","date":"October 10, 2016","format":false,"excerpt":"BC Iron (BCI) is selling its 75 per cent stake in the mothballed Nullagine joint venture (NJV) to Fortescue. The project was a 75:25 joint venture between the two companies, with the mine operating for five years before operations were suspended last yeardue to low iron ore prices. Since the\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"bc-iron-nullagine-2-a_7-476x270","src":"https:\/\/i0.wp.com\/yinghuiinternational.com\/wp-content\/uploads\/2016\/10\/BC-Iron-Nullagine-2-A_7-476x270-300x170.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/yinghuiinternational.com\/wp-content\/uploads\/2016\/10\/BC-Iron-Nullagine-2-A_7-476x270-300x170.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/yinghuiinternational.com\/wp-content\/uploads\/2016\/10\/BC-Iron-Nullagine-2-A_7-476x270-300x170.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":3322,"url":"https:\/\/yinghuiinternational.com\/index.php\/2019\/04\/02\/fortescue-approves-3-7bn-iron-bridge-stage-two-expansion\/","url_meta":{"origin":1173,"position":2},"title":"Fortescue approves $3.7bn Iron Bridge stage two expansion","author":"yinghui","date":"April 2, 2019","format":false,"excerpt":"Fortescue Metals Group subsidiary FMG Magnetite and joint venture partner Formosa Steel have agreed to the development of stage two of the Iron Bridge magnetite project in the Pilbara, Western Australia. 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