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.
Australia’s SRG Global won contracts worth A$700 million ($455.35 million) from companies such as Pilbara Minerals, South32, New Zealand’s Fonterra, London-listed Glencore, the construction & engineering firm said on Tuesday.
The firm has also signed a five-year contract for asset integrity services with Switzerland-based Glencore at the latter’s Murrin Murrin mining operations in Western Australia.
SRG has been awarded an infrastructure contract with Pilbara Minerals to build a tailings dam at the Pilgangoora mining operation in Western Australia.
It signed a five-year contract with world’s biggest producer of manganese, South32, for maintenance services at the miner’s Worsley Alumina bauxite and alumina refinery operations in the southwest region of Western Australia.
SRG Global has also entered a three-year contract with dairy producer Fonterra across seven sites in New Zealand to provide specialist engineered access services for its dairy operations.
A few other contracts have been awarded by existing clients within the water, dairy and resources sectors.
($1 = 1.5373 Australian dollars)
(By Rajasik Mukherjee)
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