CAPITAL MARKETS

Better day for miners as iron price hikes dawn

THE reality of Brazilian giant Vale’s deals with Japanese steelmakers to secure a 65% hike in iron prices and what it means for the profit margins of Australia’s major miners, BHP Billiton and Rio Tinto, began to sink in across the market today.

Kate Haycock

Last year’s 9.5% rise in the iron ore benchmark price was chewed up by the rising Australian dollar but the 2008 hikes will go to both companies’ bottom lines – even with rising costs and increased capital...

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A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

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