AusRAIL, Market Sectors

Cost cutting, iron ore buoyancy reap profits for Rio, BHP and FMG

<span class="" id="parent-fieldname-description"> Australian mining’s big three – Rio Tinto, BHP Billiton and Fortescue Mining Group – all recorded impressive profit increases for the end of 2013, while British multinational miner Anglo American isn’t where it wants to be. </span> <div>An iron ore price that stayed higher and more stable than some predicted, and increased shipment volumes were the key factors for Australia’s big three miners in the back end of 2013.