Fortescue Metals Group has halted operations at the Solomon Hub iron ore operation in Western Australia following an incident involving an employee.
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Iron ore supply chains are expected to bear the brunt of the industry’s transition to decarbonisation and will require costly investments to stay relevant, a Fitch Solutions report has revealed.
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The price of iron ore futures has dropped below US$100 ($137.60) a tonne on the Singapore Exchange as shipments from Port Hedland in Western Australia also continue to decline.
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Fortescue has delivered its highest iron ore shipments in history at 182.2 million tonnes for the 2020-21 financial year, driving up earnings into record territory. Read More