Rio Tinto Declares Force Majeure on Iron Ore Shipments from Australia's Cape Lambert, an Industrial Info Market Brief

Rio Tinto declared force majeure on iron ore exports to some clients on Friday as a result of damages incurred at Cape Lambert A and other Western Australia operations as a result of Cyclone Veronica. Partial operations at the facility resumed Thursday after being shut down for seven and a half days, but damages to lighting, buoys and berths will limit the operational capacity of the terminal for weeks and possibly months. Rio Tinto continues to assess the situation and will report further when the extent of the damage is known.