{"id":873,"date":"2015-04-16T07:47:01","date_gmt":"2015-04-15T21:47:01","guid":{"rendered":"http:\/\/www.bnmme.com.au\/?p=873"},"modified":"2015-04-16T07:47:01","modified_gmt":"2015-04-15T21:47:01","slug":"low-iron-price-forces-another-mine-to-close","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2015\/04\/16\/low-iron-price-forces-another-mine-to-close\/","title":{"rendered":"Low iron price forces another mine to close"},"content":{"rendered":"

\"SinosteelMidwest_BlueHillsMine\"<\/a>The low price of iron ore has claimed another victim, with Sinosteel Midwest<\/strong> to shut its Blue Hills mine.<\/p>\n

110 people will lose their jobs as part of the closure, including 50 workers from mining contractor MACA.<\/p>\n

Sinosteel said low iron prices and lengthy delays in obtaining environmental approvals for the expansion of the Blue Hill mines had led to the decision to shut the operation.<\/p>\n

\u201cOperations and corporate staff are likely to be progressively made redundant in line with operational requirements,\u201d the company said.<\/p>\n

MACA said the Blue Hills contract had generated the company approximately $3.5 million per month.<\/p>\n

As a consequence of the suspension MACA advised that its full year revenue guidance for the 2015 financial year will remain approximately $600 million. However MACA said its work in hand position will reduce by approximately $30 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

The low price of iron ore has claimed another victim, with Sinosteel Midwest to shut its Blue Hills mine. 110 people will lose their jobs as part of the closure, including 50 workers from mining contractor MACA. Sinosteel said low iron prices and lengthy delays in obtaining environmental approvals for the expansion of the Blue … Continue reading “Low iron price forces another mine to close”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","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":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6],"tags":[],"class_list":["post-873","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-e5","jetpack-related-posts":[{"id":8592,"url":"https:\/\/yinghuiinternational.com\/index.php\/2024\/05\/22\/maca-secures-iron-clad-contract\/","url_meta":{"origin":873,"position":0},"title":"MACA secures iron-clad contract","author":"yinghui","date":"May 22, 2024","format":false,"excerpt":"KELSIE TIBBEN Altas Iron\u2019s Sanjiv Ridge iron ore site, nearby Miralga Creek. Supplied: Atlas Iron. MACA has locked in a major contract at Atlas Iron\u2019s Miralga Creek iron ore project in the Pilbara region of Western Australia. The mining, civil and mineral processing contractor will provide mining and drill and\u2026","rel":"","context":"In "Clients"","block_context":{"text":"Clients","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/clients\/"},"img":{"alt_text":"MACA","src":"https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2023\/11\/ATLASIRON-SANJIVRIDGE2022-COMMOTIONMEDIA-DJI_0187-reduced-1024x682.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2023\/11\/ATLASIRON-SANJIVRIDGE2022-COMMOTIONMEDIA-DJI_0187-reduced-1024x682.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2023\/11\/ATLASIRON-SANJIVRIDGE2022-COMMOTIONMEDIA-DJI_0187-reduced-1024x682.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2023\/11\/ATLASIRON-SANJIVRIDGE2022-COMMOTIONMEDIA-DJI_0187-reduced-1024x682.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":8068,"url":"https:\/\/yinghuiinternational.com\/index.php\/2021\/10\/08\/how-bhp-developed-its-most-technically-advanced-mine\/","url_meta":{"origin":873,"position":1},"title":"How BHP developed its most technically advanced mine","author":"yinghui","date":"October 8, 2021","format":false,"excerpt":"The South Flank site. Image: BHP BHP has officially opened its $4.6 billion South Flank iron ore mine in the Pilbara region of Western Australia, celebrating the completion of the project\u2019s five-year journey on time and budget. In 2016, the company began planning for a new operation to potentially replace\u2026","rel":"","context":"In "Clients"","block_context":{"text":"Clients","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/clients\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":804,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/02\/02\/nullagine-joint-venture\/","url_meta":{"origin":873,"position":2},"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":788,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/01\/21\/citics-sino-iron-mine-to-post-1-8-bn-writedown\/","url_meta":{"origin":873,"position":3},"title":"CITIC\u2019s Sino Iron mine to post $1.8 bn writedown","author":"yinghui","date":"January 21, 2015","format":false,"excerpt":"Citic has been forced to writedown the value of its Sino Iron project in the Pilbara by $1.8 billion due the falling price of iron ore. 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The SGX AsiaClear contract price for January slumped to US$39.67 a tonne, and\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":"","src":"","width":0,"height":0},"classes":[]},{"id":1799,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/10\/10\/bc-iron-sells-interest-in-nullagine-to-fortescue\/","url_meta":{"origin":873,"position":5},"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. 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