Aussie dollar climbing… is the iron ore trade back on?
Simandou, one of the world’s most significant iron ore developments, is set to challenge the Pilbara’s dominance soon.
Brazilian miner Vale SA said on Monday that the train circulation in its Carajas iron ore mine railroad was temporarily halted due to a land movement caused by heavy rains.
The incident did not cause any casualties and Vale expects to conclude maintenance on the railroad by Wednesday and resume the train circulation.
Vale added that the incident will have minimal impact on its output and it will not change its production guidance for the year.
(By Carolina Pulice and Peter Frontini; Editing by Jonathan Oatis)
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