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Ore export
threatened
PERTH, Wednesday. - The Common
wealth Government's refusal to grant Ham
ersley Iron Pty Ltd a pellet export licence
could have repercussions on Western Austra
lia's prospects of exporting iron ore and pellets
to Europe, the WA Minister for Industrial
Development, Mr Court, said today.
He said that because of
transport costs the f.o.b.
price of ore to Europe
would have to be lower
than that refused by the
Commonwealth for the
Hamersley contract.
The Commonwealth Gov
ernment refused an export
licence for the sale of 8.6
million tons of iron ore pel
lets, worth more than £40
million to Japan because
the price was too low.
Major steel
producer
The price agreed to in the
contract signed between
Hamersley and six Japanese
steel mills in November was
about £5/1/3 a ton at the
port of delivery.
Sixty per cent of Hamers
ley is owned by Conzinc
Riotinto of Australia Ltd.,
and 40 per cent by Kaiser
Industries, a major United
States steel producer.
Mr Court said he was ad
vised today thai the Japa
nese steel mills were reluc
tant to re-negotiate the
Hamersley pellet deal be
cause the Commonwealth
embargo went beyond this
particular contract and in
volved vital trade principles
in the overall sale of iron
ore.
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