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.
Safety managers at South32’s Illawarra coking coal mines launched a week-long strike after rejecting a new workplace deal that would have given them a 6.3% pay hike this year, the Australian Financial Review reported on Friday.
The report also said members of the Collieries Staff and Officials Association at South32’s Appin mine in New South Wales voted to go on a strike till Aug. 18 over the lack of bonus pay and work-life balance in a new agreement proposed by the company.
Due to the strike, some parts of the Appin mine have been made non-operational in the absence of managers to oversee safety standards, the report said, citing a South32 spokesperson.
The company did not immediately respond to a Reuters request for comment.
(By Archishma Iyer; Editing by Sherry Jacob-Phillips and Subhranshu Sahu)
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