Articles Tagged "fortescue metals group"

Australia Halves Iron Ore Price Forecast in 2015 Federal Budget

Iron – The slumping iron ore price has hit those involved in the space hard in the last year, with many companies reducing production and halting new construction. Now the Australian government has gone into defense mode with its Federal Budget 2015 report, which includes a conservative 12-month iron ore price estimate of $48 per tonne.

Big Iron Ore Producers Debate Supply-Demand Balance

Iron – Industry giants' battle over the iron ore supply-demand balance continued this week. The most recent development came when Rio Tinto CEO Sam Walsh described the idea of boosting prices via a production cap "hare brained."

Downer EDI to Recruit Workers from Macmahon for Christmas Creek Mine

Iron – The Sydney Morning Herald reported that Downer EDI (ASX:DOW) plans to recruit 400 workers from its rival Macmahon Holdings (ASX:MAH) when it begins an expanded mining services contract in April at Christmas Creek iron mine, which is owned by Fortescue Metals Group (ASX:FMG).