BHP Iron Ore Mines Resume Operation
Reuters reported that BHP Billiton (BHPLF)’s Australian iron ore mines have recommenced work at full operation following a cyclone that battered coastal regions and closed major shipping terminals this week.
“Port Hedland, the world's biggest iron ore terminal and used by BHP to export nearly 200 million metric tons of the steel-making material annually, sustained only minor damage from Cyclone Christine and reopened late on Tuesday,” Reuters said.
The storm hit Australia's northwestern coast late on Monday with winds recorded up to 100 mph, before weakening as it crossed the Pilbara iron ore mining belt.
Reuters also reported that Fortescue Metals Group (FMG.AX) and Rio Tinto (RTNTF) also said their operations were returning to normal.