17
Sep
08:56
Falling market causes Riley mine suspension
Australian miner Venture Minerals has temporarily stopped operation at its Riley iron ore mine in northwest Tasmania due to falling market prices, Kallanish observes.
Although the firm cites cost pressures for the closure, it also says it is experiencing a volatile shipping market because of congestion in Chinese ports. This has driven freight costs higher. “During this period Venture will retain the Riley mining team so that when market conditions improve, …
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Anonymous
Very good overview of the weekly steel market.
Anonymous