The US central bank has increased official US interest rates by an expected 0.5 per cent to curb the biggest price rises seen in 40 years. Key points: The Dow Jones index jumped 2.8pc to 34,061, the S&P 500 index rose nearly 3pc to 4,300, and the Nasdaq rose 3.2pc to 12,965 The All Ordinaries index rose 1pc to 7,639 …
Rio Tinto has lowered its iron ore production forecasts for the year due to labour shortages and delays in completing new mine projects. Mineral growth: Rio Tinto expects to ship between 320 million and 325 million megatonnes of iron ore from its Pilbara operations in Western Australia this year Forecasts for mined copper, bauxite and iron ore pellet output have …
Driving along the Great Northern Highway through Western Australia's remote Pilbara region at sunrise is a unique experience. "Our forecast for iron ore is to come back to about $US110 a tonne by the end of this year," CBA's mining and energy economist Vivek Dhar says. Capital Economics senior economist Marcel Thieliant recently published a note saying: "As China's property …
