Profit Collapse Looms For BHP, Rio Tinto And Fortescue

The crash in prices for nickel and lithium, two key battery metals, could be a precursor to something more significant, a collapse in the price of iron ore which underpins the profits of some of the world’s biggest mining companies.Predictions of a steep fall in the iron ore price have been routine over the past two years, primarily because of concern about declining demand from China, the world’s biggest consumer of the commodity which is used to make steel.BHP's Port Hedland Iron Ore processing plant. Fai ...