The worst performers among 53 major metal companies ranked for risks and readiness in a net-zero emissions scenario were an Australian iron ore miner and steelmakers from Russia and India.
After Venture Minerals (ASX:VMS) announced on September 17 that it is temporarily halting iron ore shipments from its Riley iron ore mine in Tasmania due to the metal’s recent precipitous fall, another miner followed suit. Mount Gibson Iron Limited said today that given recent significant adverse movements in iron ore prices, product discounting and shipping .
The head of Rizhao Steel earned $US3 billion from a Singapore marketing hub at Rio Tinto’s expense and spent the profits buying hotels and offices around the world including the Sydney Hilton.