RE: funding28 Sep 2014 14:45
yes notice price of iron ore has been falling for a while which surly does not help the share price,they wont be producing till late 2015 no,and they will have the best technology in producing iron ore, the danger is that if it keeps falliing the project could be put on hold. The steelmaking ingredient has fallen about 40% in price this year to around $80 a metric ton. That leaves both the market and Rio Tinto, the Anglo-Australian miner that makes most of its money from iron ore, peering over the edge of a deep pit.
Iron ore has sunk below where it fell to in the summer of 2012 and is approaching levels last seen during the financial crisis. Two years ago, higher-cost production in China shut down, putting a floor under prices. As yet, it isn't clear that is happening this time round.