Rio Tinto Limited (RIO) has agreed with Chinalco’s request to extend the deadline by which Chinalco must confirm its participation in funding the Yarwun 2 alumina refinery expansion from 31 May 2009 to 15 June 2009. The extension was requested by Chinalco to allow it to complete its project evaluation and approvals processes. The expansion was approved in July 2007 and construction is now 29% complete.

Fortescue Metals Group Limited (FMG) reported a profit of $1.18 billion for the nine months to 31 March 2009, up from a $767.6 million loss the previous corresponding period. The iron ore miner’s revenue for the same period was just shy of $1.4 billion and after subtracting cost of sales its gross profit totalled $496.8 million. In a report released today titled ‘special purpose financial report’, the company said shipments of iron ore to its Chinese customers passed 20 million tonnes for the March quarter, while the mined ore figure for the quarter was impacted by heavy rains across the Pilbara, falling 22% to 6.55 million tonnes.

BC Iron Limited (BCI) was suspended from official quotation following the company’s request that the current trading halt be extended. The company is continuing to work on finalising an agreement with Fortescue Metals Group for access to its rail and port facilities at BC Iron’s Nullagine Iron Ore Project in Western Australia. BC Iron said it is not yet in a position to provide full details to the market and would do so as soon as possible.