30 November 2018
Update on sales of bauxite from the Hey Point Bauxite Project in Weipa, Australia
The Group commenced the mining operations at the Hey Point Bauxite Project in September 2018.
The Group successfully marketed, sold and delivered bauxite to a number of first tier buyers based in China, in the process establishing strong relationships for future sales. The Group has utilised its first-class ship chartering and operations proficiency to substantially add value to the Hey Point Bauxite Project, through managing freight and bunker price risk, as well as operational risks. Additionally, the Group has identified key areas of investment where further efficiencies can be realised into 2019 and beyond in order to minimise the freight costs and increase the throughput going forward.
14 February 2018
Nathan River Resources Mining Management Plan officially approved by Northern Territory Government
Through its subsidiary, Britmar (Aus) Pty Ltd, the Group has successfully had its Mining Management Plan approved by the Northern Territory Government.
For the official government press release, click here.
This marks the final official permission required to start production and sale of iron ore product from Nathan River Resources mine. The Group now has in place all the relevant agreements and permissions to beginning the export of iron ore product, as well as the ownership of a variety of equipment including road trains, barges and loading equipment stationed on site.
Nathan River Resources is the owner of the iron ore mining assets located in the Northern Territory, Australia formerly owned by WDR Iron Ore Pty Ltd (in liquidation). The assets include the exclusive rights and licenses relating to the Roper Bar Mine, haul road and the Bing Bong port.
15 January 2018
British Marine takes delivery of M/V Greenwich on behalf of Time Investments.
British Marine has completed the delivery of M/V Greenwich, a Japanese 2000 built handysize dry cargo vessel, on behalf of TIME Investments. The vessel has been flagged in the UK and has been successfully delivered to the first charterers.
The vessel represents the deployment of the second tranche of equity raised under the UK Enterprise Investment Scheme. The EIS scheme offers significant incentives to UK based individuals to invest in the dry bulk sector. British Marine and its management company, RB British Marine, provides asset management and commercial and technical management services to the vessel owning companies. This acquisition brings the number of vessels under management to 10.