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Rio, BHP Group Ltd. and Fortescue Metals Group Ltd. produce almost two-thirds of the world’s seaborne iron ore from Western Australia, and margins remain enviable.
(Bloomberg) -- Vast heaps of crushed brown rock hem the Indian Ocean at Western Australia’s Parker Point port — each a stockpile of 200,000 tons of iron ore, ready to be poured into a procession of bulk carriers bound for Asia’s steel mills.Most Read from BloombergCanada Plans College Crackdown Amid Foreign Student TroublesIsrael Enters ‘New Stage’ of War With Gaza Ground FightingIsrael Warns of ‘Long’ War as Invasion of Gaza Strip BeginsEverything Apple Plans to Launch at Oct. 30 ‘Scary Fast’ M
Last year, iron ore shipments accounted for about 5% of the countrys gross domestic. But now China is cooling, while steel producers are under pressure to clean up a sector that accounts for at least 7% of global greenhouse gas emissions, a change that will require new methods and higher-quality raw materials.
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