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Three people have been rushed to hospital after their vehicle was caught in floodwaters triggered by Cyclone Tiffany in far north Queensland.

Australia will lose share over the next five years in the global iron ore market to Brazil because of the latter’s high grade iron ore reserves and exports, according to a new report on the mineral from Fitch Ratings’ offshoot, Fitch Solutions. The loss won’t be much in percentage terms, but in terms of tonnage, Brazil’s production is projected to grow at four times the rate of growth forecast for Australia. The Fitch report, which appeared earlier this week, says global iron ore mine output growth will average 2.4% over 2021-2025 compared to the fall of 2.0% over the previous five ye...

Iron ore fuels $65b dividend windfall Share Investors will share in a $65 billion windfall in shareholder returns from the big three iron ore miners, with dividend forecasts for BHP Group, Rio Tinto and Fortescue Metals Group upgraded by analysts after prices soared by more than 20 per cent in a week. In a sign that the market expects demand and prices to remain strong for some time – and that tax revenue and dividends will continue to be pumped into the rebounding economy – a new generation of small producers is looking to move previously uneconomic mines into production. The global benc...

Reformed iron ore miners tipped to pay $65b dividend Save Share Rio Tinto and BHP are tipped to pass 95 per cent of the iron ore boom back to shareholders through dividends, as Anglo American and Hong Kong’s Cheung Kong became the lastest multinationals to flirt with the idea of building a new iron ore province in Australia’s mid-west. Iron ore prices have surged 20 per cent above the 2011 record over the past fortnight and are dragging Australia’s biggest exporter, Rio, into a net cash position just 13 years after it was crippled with debt on the back of the disastrous $US38 b...

Australia extends iron ore price outlook above $100 per tonne to late 2021 Australia expects the iron ore price to stay above $100 per tonne until late 2021 - instead of mid-2021 as it said in a previous report - and decrease to $72 per tonne by the end of 2026. This iron ore price outlook for the rest of 2021 is supported on strong demand from China and concerns about disrupted supply in Brazil, Australia’s Department of Industry, Science, Energy & Resources said in its resources and energy quarterly report released on Monday March 29. On the iron ore supply side, ...