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Fortescue Reports Strong Quarter After Iron Ore’s Hot Summer

Australian iron ore company Fortescue Metals Group (ASX:FMG,OTCQX:FSUGY) hasn’t lost any of its heat, with the company announcing high numbers again for the latest quarter.

Fortescue was able to reduce its net debt to US$0.5 billion from US$2.1 billion in June. The company also increased its average revenue, receiving US$85 per dry metric tonne (dmt), as compared to US$45 per dmt in the year-ago period, and grew its cash on hand to US$3.4 billion.

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Australia Ready to Help Iron Ore Supply Gap: Report

As Vale (NYSE:VALE) continues to pick up the pieces from its Brumadinho tailings dam collapse, Australia is stepping up to help fill the new gap in iron ore supply.

In the most recent edition of Australian government report Resources and Energy Quarterly, officials touted a “significant change" to commodity forecasts for the country down under. Previous forecasts had indicated export earnings would peak in 2018 and 2019, with expected record earnings of AU$278 billion during that time.

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Nickel Investing

BHP Clears Yet Another Hurdle in Race to Nickel Supremacy

Mining giant BHP (ASX:BHP,NYSE:BHP,LSE:BLT) has taken another step towards its goal of being a major player in the battery metals space, with the company reportedly given the green light to go ahead with developing a mine at its Venus nickel deposit in Western Australia.

The Venus deposit is one of multiple targets identified by BHP in August as having the potential to feed into its battery metals ambitions.

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