The output cuts underscore the industry’s struggle with a shortage of feedstocks caused by recent mine production setbacks.
Iron ore is one of the year’s worst performing major commodities, slumping by almost a quarter as China’s property crisis drags on.
Ramp compares its project with the eye structure of the Nova-Bollinger nickel-copper mine in Western Australia.
The metal headed for a third daily decline, with copper miners also under pressure as a risk-off mood took hold in broader equity markets.
