MACRO Realty Developments

US oil and gas player Apache has made what is being feted by some as potentially Australia’s largest oil discovery in the last 30 years, fuelling hopes of a new oil province located off the north-west coast. The field found by the Phoenix South-1 well, which was targeting gas rather than oil, could have potentially Read the full article…

Large-scale, fly-in fly-out (FIFO) mining camps should become a thing of the past as the State Government works to develop Pilbara towns into thriving populations centres, former WA Nationals leader Brendon Grylls says. Mr Grylls, the architect of the State Government’s Pilbara Cities policy, said the northern towns were building their capacity to better cater Read the full article…

The Roy Hill iron ore mine has hit a milestone, reaching the construction halfway point. The mine has been ramping up progress at the site since the successful completion of a US$ 7.2 billion loan facility in March, which was the biggest in the world at the time. Close to 5000 people will work on the project, Read the full article…

Fortescue Metals Group plans to buy eight massive ships from China for $550 million. But the world’s fourth biggest iron ore producer says the investment will not affect its strategy to pay down more than $7 billion in debt. Chief executive Nev Power said the purchase of eight huge ore carriers, each capable of carrying Read the full article…

Miner BHP Billiton is confident it can ”close the gap” with iron ore arch-rival Rio Tinto on margin per tonne within a few years. And it is likely to develop the $20 billion outer-harbour project at Port Hedland rather than expand its inner-harbour operation if it moves to produce beyond its current annual run rate Read the full article…

Fortescue has signed a contract to construct four new ‘very large ore carriers’ (VLOC). The contract, with an unnamed Chinese shipyard for the vessels, is valued at approximately US$ 275 million and will see the four ships delivered from November 2016 through to May 2017. The majority of payments will be made upon delivery and Read the full article…