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Iron ore miners’ pressure points in focus as commodity price wobbles

Mineral Resources’ flagship iron ore mine made a profit of around $US8 a tonne of red dirt sold into the spot market on Friday.

Elouise Fowler
Elouise FowlerReporter
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Mineral Resources’ flagship iron ore mine made about $US8 ($11) for every tonne of red ore sold into the spot market on Friday, making it one of the least profitable iron ore mines in the Pilbara.

For MinRes, led by billionaire founder Chris Ellison, the cost of putting the crushed rocks on a ship headed for smelters where it is turned into steel far exceed those incurred by BHP, Rio Tinto and Fortescue.

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Elouise Fowler is a journalist for The Australian Financial Review based in the Melbourne office. Connect with Elouise on Twitter. Email Elouise at elouise.fowler@afr.com.au
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    Original URL: https://www.afr.com/companies/mining/iron-ore-miners-pressure-points-in-focus-as-commodity-price-wobbles-20240821-p5k48i