ONE of Australia’s leading resource companies says it is capable of withstanding the turmoil and disruptions caused by coronavirus crisis.
Iron ore giant Fortescue said the majority of its workforce are based in Western Australia and wouldn’t be hit by the travel ban and self-quarantine provisions, which includes exemptions for mining industry workforces.
Fortescue said it would use a variety of measures including charter flights from eastern Australia to ensure that site-critical functions aren’t impacted.
Shipments from Port Hedland continue and mining and processing activity are in line with guidance, Fortescue said.
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READ NOWMeanwhile, Caltex Australia expects demand for jet fuel could drop by 80 to 90 per cent due to flight cancellations and travel bans to limit the coronavirus.
The fuel refiner and petrol station owner also said it was closely monitoring Australian demand for gasoline and diesel given the coronavirus situation.
Fortescue shares were down 6.4 per cent at $9.69.