Iron ore future could get worse

14.Iron ore future could get worse

Perth

(Australian Associated Press)

Fortescue Metals Group says the iron ore industry could have to brace for more pain as prices and Chinese steel demand remain weak.

“It could well get darker before it gets brighter in the iron ore industry,” Fortescue chairman Andrew Forrest told the miner’s annual general meeting in Perth on Wednesday.

He said the company, which paid $70 million in dividends in full year 2015, had well calculated the balance between dividend payments and cash flow.

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