Iron ore price hits five-week low as traders fret about Chinese demand
Iron ore has slumped 29% this year, hurt by the prolonged slowdown of China’s economy.
The world’s largest miner BHP Group has suspended its Western Australian iron ore operations for a day after a worker was struck by a train at its Port Hedland iron ore facility, it said on Wednesday.
“It is with deep sadness that we confirm a member of BHP’s WA team was fatally injured in an incident at our rail yard in Port Hedland last night,” Brandon Craig, BHP’s group president for Western Australia iron ore, said in a statement.
“As a result of this incident, we have suspended WA Iron Ore operations for 24 hours.”
Western Australia police have showed up on the site and BHP has informed safety regulators of the incident as it begins its own investigation, the company said.
(By Melanie Burton; Editing by Christian Schmollinger)
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