The company was established primarily to acquire and explore for iron ore. Anybody who has followed the financial press over the last 12 months will be well aware that the export markets for iron ore are strong. In particular the iron ore export market has been bolstered by China's increasing demand for iron ore.
China's iron ore imports totalled 325 million tonnes in 2006 and are expected to hit 355 million tonnes in 2007. Additionaly the International Iron and Steel Institute has forecasted that India's steel usage will rise 7.7% a year from 2010 to 2015. On top of this the 2007 annual iron ore price negotiation between BHP, Rio Tinto, Companhia Vale do Rico Doce (CVRD) and Baosteel Group ...Read More
