Australia’s Incitec Pivot wins explosives’ contract with Fortescue Metals

Image courtesy of Fortescue Metals Group.

June 13 (Reuters) – Industrial explosives maker Incitec Pivot Ltd said on Wednesday its Dyno Nobel business received an explosives’ products-and-services contract with units of Fortescue Metals Group.

The contract with the two units of the world’s fourth-largest iron ore miner will last until December 2023, Incitec said.

The contract is expected to partially offset the drop in profit the company had previously forecast after losing a contract with Roy Hill Iron Ore, Incitec said.
($1 = 1.3217 Australian dollars)

(Reporting by Aaron Saldanha in Bengaluru; Editing by Sherry Jacob-Phillips)

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