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Fortescue reports rise in shipments but flags labour shortage
Tuesday, January 25, 2022 - 13:09:25
Reuters
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The world’s fourth-largest iron ore miner shipped 47.5 million tonnes (mt) of the steel-making commodity in the December quarter, compared with 46.4 mt a year earlier.
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Bigger rivals BHP Group and Rio Tinto have also warned of disruptions from coronavirus-induced labour shortages as Australia faces a surge of Omicron cases.
The slightly upbeat production result came against the backdrop of stricter environmental and production controls as well as a property sector crisis in China, which have weighed on forecast for steel demand.
Fortescue, run by billionaire Andrew Forrest, left its annual shipments forecast unchanged.
http://www.miningnewspro.com/en/News/619485/Fortescue reports rise in shipments but flags labour shortage
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