30
Nov
10:09
Flinders Mines puts iron ore project on hold
A 25 million tonne/year iron ore mine in Australia’s Pilbara led by Flinders Mines is unlikely to be developed in the near term after shareholders rejected a possible deal with key partner Todd Resources. The mine is unlikely to find a new backer until iron ore prices have recovered to a level where the project may be profitable, Kallanish notes.
Todd had proposed paying $10 million for an option to buy the project for $55m plus royalties but sha…
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Very good overview of the weekly steel market.
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