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Reuters
Reuters
Business

Australia's Incitec Pivot wins explosives' contract with Fortescue Metals

(Reuters) - Industrial explosives maker Incitec Pivot Ltd <IPL.AX> said on Wednesday its Dyno Nobel business received an explosives' products-and-services contract with units of Fortescue Metals Group <FMG.AX>.

The contract with the two units of the world's fourth-largest iron ore miner will last until December 2023, Incitec said.

The contract is expected to partially offset the drop in profit the company had previously forecast after losing a contract with Roy Hill Iron Ore, Incitec said.

(Reporting by Aaron Saldanha in Bengaluru, Editing by Sherry Jacob-Phillips)

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