AMC - Iron Ore Investment (Roper Bar)20 Nov 2020 17:53
It looks like NRR's decision to expediate works at Roper Bar were well calculated given Iron Ore's price performance.
Iron ore set to average $100 a tonne for the first time since 2013
Iron ore, the steelmaking ingredient that is the biggest generator of profits for leading miners, is on course to average $100 a tonne over the year for the first time since 2013.The resilience of the material has helped the mining industry sidestep the worst damage from the coronavirus pandemic, which has hammered other sectors such as oil and gas by cutting away demand for energy.
Iron ore is the best-performing major commodity of 2020, up almost up 38 per cent, according to data from S&P Global Platts. In contrast, gold, which benefited from investors looking for safe places to park cash during the crisis, is about 24 per cent higher, after losing some ground in recent months.
https://www.ft.com/content/2a0f550c-4075-48ef-bda0-0f9e615ba8fb