Iron ore price weakens as Australia flags return to sub-$100 prices
Futures dropped for a fourth day in Singapore, to trade about 3% lower for the week.
Rio Tinto has donated a further A$750,000 to the Red Cross’ disaster relief and recovery efforts supporting people affected by Australia’s bushfire crisis, bringing the company’s total donation to A$1 million.
The funds will be used to help Red Cross emergency service teams provide support to impacted communities including safe places to take shelter, psychological first aid to reduce trauma, information and practical assistance through the time it can take to recover, and longer-term recovery programmes in affected communities.
Since November 2019, hundreds of Red Cross emergency personnel – mostly volunteers – have manned relief and evacuation centres in bushfire impacted communities around the country.
Rio Tinto is also providing employees involved in current volunteer firefighting efforts with full leave entitlements.
“With the escalation in the bushfire crisis … we are also ensuring any of our employees involved in firefighting and relief efforts are supported throughout this period with full leave entitlements,” said Rio Tinto’s CEO Jean-Sébastien Jacques in a media release.
“Beyond these steps announced today, we will continue to explore ways to help impacted communities in this time of need.”
