Earnings reports: Fortescue Metals & BlueScope Steel


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Fortescue Metals (FMG) has posted a solid full year result. The miner’s operating costs continued to improve, averaging US$15.43/wet metric tonne for FY16, a 43% reduction from the prior year

BlueScope (BSL) more than doubled its full year net profit to $353.8 million, thanks to a combination of sales growth, cost reductions and its North Star acquisition. The market was impressed by its better outlook for the first half of 2017

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