Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
ron-ore major Fortescue Metals has reported an 88% fall in net profits for the financial year ended June, as lower iron-ore prices ate into profit margins. Net profit after tax for the year reached $316-million, compared with the $2.7-billion reported in 2014, while underlying earnings before interest, taxes, depreciation and amortisation were down to $2.5-billion, from the $5.6-billion reported in the 2014 financial year.
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