Miner ERG Weighs Breakup to Split Assets Between Its Owners

An iron ore stock pile at Rio Tinto Group's Gudai-Darri iron ore mine in the Pilbara region of Western Australia, on Thursday, Oct. 19, 2023. Rio Tinto Group, BHP Group Ltd. and Fortescue Metals Group Ltd. produce almost two-thirds of the world's seaborne iron ore from Western Australia, and margins remain enviable. For the first time in a generation, though, the specter of disruption looms over mining's most reliable profit generator. Photographer: Carla Gottgens/Bloomberg