Iron ore weakness to continue into 2025 and beyond, says Fitch Solutions’ BMI
Looking beyond 2024-2025, BMI analysts maintained their view that iron ore prices will likely follow a multi-year downtrend.
Rio Tinto will invest $371 million [(Rio Tinto share $350 million) to automate its iron ore railway in the Pilbara region of Western Australia, following successful trials. Within five years, driverless trains will be operating on most of the 1,300 km of track that serves the Pilbara operations, helping Rio Tinto meet its goal of expanding annual iron ore production to 320 Mt in 2012. (more…)