BHP, Rio evade worst as cy­clone misses ma­jor Aus­tralian ore port

The Pak Banker - - COMPANIES/BOSS -

SYD­NEY: BHP Bil­li­ton Ltd., Rio Tinto Plc and other iron-ore pro­duc­ers in northwest Aus­tralia evaded the worst of Cy­clone Stan af­ter the weather sys­tem missed ma­jor ex­port hubs and weak­ened as it moved in­land. The cy­clone made land­fall early Sun­day with less force than ex­pected east of Port Hed­land, the world's largest bulk-ex­port ter­mi­nal, the Bureau of Me­te­o­rol­ogy said on its web­site. While the bureau ex­pects heavy rain, po­ten­tial flood­ing and gusts of up to 90 kilo­me­ters an hour in some places, it said Stan has faded to a cat­e­gory 1 cy­clone and will grad­u­ally lose power. Port Hed­land is the mar­itime gate­way to Asia for min­ers hunt­ing for iron ore in the Pil­bara re­gion of Western Aus­tralia. BHP, which had evac­u­ated work­ers as Stan ap­proached, re­opened sites at the port early Sun­day, Matthew Nette, a spokesman for the com­pany, said in an e-mail.

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