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Fortescue Metals profit falls 58%

Ore discount for lower-grade material hits FMG results

Staff reporter
Fortescue Metals profit falls 58%

Revenue for the 2018 financial year dropped by 18% to US$6.88 billion on the sale of 170 million tonnes of iron ore at an average price of $44 per wet metric tonne, down from $53/t. Price realisation...

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