Iron ore: More to worry about than price

Rio Tinto, Fortescue and Mount Gibson are dealing with significant non-market events.

Summary: Mount Gibson has cut production after a wall in one of its mines started to collapse. Rio Tinto controls a business in Canada that has been affected by a train derailment, raising questions about whether Rio’s most marginal mines can stay profitable. Fortescue Metals Group is considering whether to diversify or remain a single commodity specialist. Meanwhile, a collapse in the iron ore price means miners are working hard to cut costs.

Key take-out: Costs and prices are just part of the iron ore situation. Other factors such as mine-site accidents and management disputes also affect mining companies.

Key beneficiaries: General investors. Category: Iron ore.



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