Iron ore gains boost miners' outlook

Local miners' profit forecasts seen rising on lower Aust dollar, higher prices.

The combination of a 25% gain in iron ore prices since June and the decline of the Australian dollar is boosting the outlook for several miners, including BHP Billiton (BHP), Rio Tinto (RIO) and Fortescue Metals Group (FMG).

The Australian Financial Review reported that analysts are predicting widespread upgrades of profit forecasts as a result of the improving outlook for iron ore miners.

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