We lower our fair value estimate for no-moat Teck to CAD 47 per share, from CAD 48 per share, driven by lower near-term volumes at its Quebrada Blanca 2 mine in Chile and increased capital expenditure ...

Fortescue is the world's fourth-largest iron ore exporter. Margins are well below industry leaders BHP and Rio Tinto, and some way behind Vale, meaning Fortescue sits in the highest half of the cost ...