Brazil mine ruling brings doubt

Original article by Paul Garvey
The Australian – Page: 22 : 21-Mar-19

The iron ore price fell sharply on 20 March after a Brazilian court ruled that Vale can resume production at its Brucutu mine, whose annual capacity is 30 million tonnes. The ruling also weighed on the share price of Fortescue Metals Group, which has been a major beneficiary of reduced output in Brazil in the wake of the Brumadinho tailings dam disaster in January. Fortescue COO Greg Lilleyman has told a conference in Perth that Chinese demand for the company’s lower-grade iron ore remains strong, and stockpiles of its ore at Chinese ports have been falling.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA, MOUNT GIBSON IRON LIMITED – ASX MGX, MACQUARIE GROUP LIMITED – ASX MQG, CITIGROUP PTY LTD

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s