Fortescue has stopped production at the mine in Australia

The Australian mining company Fortescue Metals temporarily stopped the production of iron ore in the mine Cloudbreak after the death of contract workers. It is reported by Reuters. Currently, concern and regulatory authorities are investigating the incident. As you know, mine was commissioned in 2008. According to the results of the first half of the year there have extracted 28 million tons of ore. Earlier it was reported that "Fortescue Metals Group Ltd." invests 8.4 billion dollars in increased production of iron ore. It is assumed that these funds will increase the holding iron ore tripled to 155 million tons per year. Currently, this figure is estimated at 55 million tons. Recently, Chinese Concern Hunan Valin Group has reduced its stake in Australian iron-ore holding company Fortescue Metals to 16.26%. In particular, the Chinese giant, sold shares in Fortescue worth 189.4 million dollars should be reminded that "Fortescue Metals Group Ltd." in the III quarter compared to II quarter reduced the transport of raw materials to 7%, to 10.26 million tons. Nevertheless, for the year of delivery rose 8%. The main buyers of iron ore became Fortescue China, Europe and South Korea. Australia's Fortescue Metals has been producing iron ore and is the third largest in the country. Ministry of Industry