08
Jan
09:44
Karara struggles after Angang funding fears
Australia’s Karara iron ore mine expects 2016 to be a critical year after executives told workers that majority owner Anshan Iron and Steel Group may not be able to continue funding the loss-making venture. The mine has never reached planned capacity, has costs higher than current prices and has been a drag on its owners’ balance sheets since it began, Kallanish notes.
Gindalbie Metals, which owns 48% of the mine, halted trading on Friday after a let…
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Anonymous
Very good overview of the weekly steel market.
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