BUZZ-Australia's mining stocks rise on strong iron ore prices
Reuters
Aug 25
BUZZ-Australia's mining stocks rise on strong iron ore prices
** Australia's mining shares .AXMM rise as much as 3.1%, their highest level since May 29
** Prices of iron ore futures rose to a one-week high as Rio Tinto suspended activity at its Simandou project in Guinea following an incident, raising fears of a potential delay in kicking off production at the mine IRONORE/
** Shares of Rio TintoRIO.AX up as much as 2.9% to their highest level since August 14
** BHP Group BHP.AX and Fortescue FMG.AX up 2.8% and 2.5%, respectively
** Sub-index currently up 2.9%, bringing YTD gains to 15.7%
(Reporting by Sherin Sunny in Bengaluru)
((Sherin.Sunny@thomsonreuters.com))
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