Fortescue Metals ends power supply agreement with TransAlta Corp

Iron-ore miner Fortescue Metals Group Ltd said on Monday it has terminated a power supply agreement with TransAlta Corp for its Port Hedland operations in Western Australia. The miner said in a statement it was not satisfied that TransAlta's obligations under the South Hedland Power Purchase Agreement have been met. Talks with TransAlta had failed to reach a satisfactory outcome, it said.