11
Oct
08:05
Mt Gibson suspends Shine mine on deteriorating prices
Australian iron ore mining junior Mount Gibson has announced on its website that it will suspend its Shine iron ore mine in stages after the next planned shipment at end-October. The rapid deterioration in iron ore prices, particularly for lower and medium grade ores, as well as significantly increased shipping freight charges, have weakened the profitability of the miner, Kallanish notes.
The Shine iron ore operation will c…
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Very good overview of the weekly steel market.
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