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Released February 22, 2019 | SUGAR LAND
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The global iron ore market has been thrown upside down after the tragedy of Vale SA's Brazil dam tragedy. The loss of approximately 40 million tons per year of iron supply from the disaster is expected to boost the demand for Australian iron ore.
Australia's iron ore industry has a strong project development pipeline, with upcoming projects and under-development projects such as Koodaideri by Rio Tinto, Eliwana by Fortescue Metals Group Limited (FMGL) and South Flank by BHP. BHP Group said the company is operating at full strength and doesn't have the capacity to raise shipments into the iron ore market. Therefore, mining analysts believe that FMGL would be the key beneficiary from the disaster.
Australia's iron ore industry has a strong project development pipeline, with upcoming projects and under-development projects such as Koodaideri by Rio Tinto, Eliwana by Fortescue Metals Group Limited (FMGL) and South Flank by BHP. BHP Group said the company is operating at full strength and doesn't have the capacity to raise shipments into the iron ore market. Therefore, mining analysts believe that FMGL would be the key beneficiary from the disaster.
