Bangladesh Sangbad SangsthaInternational1 day ago

Australian iron ore giant Fortescue reports profit plunge | International

SYDNEY, Aug 26, 2025 (BSS/AFP) - Australian iron ore mining giant Fortescue reported Tuesday a plunge in annual net profits at a time of slumping prices for the country's biggest export commodity. The company, run by billionaire Andrew Forrest, said sales and profits fell despite record volumes of iron ore shipments in the year to June 30. Revenue dropped 14.7 percent to US$15.5 billion in the year, it said, as average income per tonne for its hematite iron ore fell 18 percent. Most of Australia's iron ore exports head to China to feed steel production, making the commodity's price highly sensitive to any slowdown in Chinese economic activity. Australian mining group BHP last week said it, too, was hit by...

Two Australian police shot dead in rural Victoria state: media reports | International

Australian iron ore giant Fortescue reports profit plunge | International

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