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Iron ore boosts FMG

Fortescue Metals Group (AU:FMG) has spent several years cutting costs to establish new industry lows in order to maintain margin in what most assumed would be a lower price environment for iron ore. Iron ore pricing has, however, recovered and provided the miner with a major unforeseen uplift.

Iron ore boosts FMG Iron ore boosts FMG Iron ore boosts FMG Iron ore boosts FMG Iron ore boosts FMG

FMG's Pilbara iron ore operations have set new standards for the industry in terms of operating costs

The Metal Bulletin iron ore spot price reached US$94.86 per tonne on Tuesday, the highest price since mid-2014, and remains above $94/t late this week.

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