Industry News

Iron-ore hits over one-week high as Rio Tinto suspends work at Guinea mine

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Update time : 2025-08-26 15:00:08

The most-traded January iron ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 closed daytime trade 2.27% higher at 787 yuan ($110.06) a metric ton, its highest since August 14.
 

The benchmark September iron ore SZZFU5 on the Singapore Exchange rose 2.69% to $103.3 a ton, as of 0810 GMT, the highest since August 14.

Rio Tinto RIO.L, the world's largest iron ore miner, said on Saturday it had suspended activities at Guinea's SimFer mine site after an incident there left a contract worker dead.
 

The miner, which owns two of the four Simandou mining blocks as part of its SimFer joint venture with China's Chalco Iron Ore Holdings (CIOH) and the Guinea government, had earlier expected the first iron ore shipment in November.

Rio Tinto did not respond to a Reuters request for comment.

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