Fortescue drops case against Argus publishing iron ore price information

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LONDON, May 25, 2020 /PRNewswire/ — Australian mining giant Fortescue Metals Group (FMG) has withdrawn a legal case against commodity price reporting agency Argus, in which it sought to prevent the publication of information about low grade iron ore prices. This move follows a London High Court decision last Friday, 22 May, in which Justice Robert Miles dismissed an injunction on Argus which aimed to halt publication.

Adrian Binks, chairman and chief executive of Argus Media said “we are very glad that the principle of press freedom has been so firmly re-established and accepted. Our job as objective commodity market reporters is to bring transparency to often opaque markets. Companies are able to make better decisions if they have access to high quality and accurate information about the markets in which they operate”.

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