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Iron ore price weighs down Fortescue in 2014

The sliding price of iron ore is highly visible in Fortescue's 2014 annual report. The company is now directly aiming for cost reductions in 2015.

The Australian mining giant Fortescue has published an annual report for 2014 which shows that the company managed to ship increasing volumes, strengthen mining activity and become stronger in production. Activity was high overall, but this was still not visible on the company's bottom line.

Fortescue's revenue fell to USD 4.85 billion from USD 5.83 billion in 2013. Profit after taxes also declined, to USD 330 million from USD 1.72 billion in 2013.

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