Commodity Focus: Iron Ore
BY ELIZABETH FABRI WHILE iron ore prices are set to slump in the coming years, Australia’s big four players – BHP, Rio Tinto, FMG and Hancock Prospecting – remain confident, pouring capital into new projects to sustain and bolster production post-2020. IRON ore exports hit a new record in FY18, reaching an impressive 849 million tonnes; up 3.8 per cent from the previous year. This number is forecast to rise again, increasing by a further 2.3 per cent to 869mt in FY19, and up to 878mt in FY20, according to the September instalment of the Resources and Energy Quarterly report. The higher export volumes will be brought on by continued efficiencies across the majors’ operations including the introduction...