Rio Tinto declares force majeure on some iron ore contracts after cyclone

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Rio Tinto declares force majeure on some iron ore contracts after cyclone
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Rio Tinto said on Friday it issued force majeure notices to some iron ore custom...

The Rio Tinto mining company's logo is photographed at their annual general meeting in Sydney, Australia, May 4, 2017. REUTERS/Jason Reed

A force majeure is invoked when a company tells a counterparty that it cannot perform an obligation under a contract due to circumstances outside of its control. Rail and shipping operations at the Cape Lambert B terminal and the port of Dampier have resumed and are ramping up, it said.

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