These new iron ore interests are not new and they haven't progressed very far in years. Now the price is high again the Chinese are doing everything it can talk the Iron Ore price down - including talking up these new iron ore mines.
what people don't realise is that the ones that matter are still at least 5 - 7 years away from production.
that said the cost of production will be huge and the shipping distance to China is even further than Brazil. I've no doubt that every palm the 600- 850km road to port will require a grease up to ensure the stock makes it to the boat.
The price of IO will be higher for longer and should linger above $150pt for months, and will remain above $120 for a long time after that.
Dyor, this isn't financial advice.
fex 2021, page-6
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