From Atlas CEO today;India's iron-ore shipments are expected to...

From Atlas CEO today;

India's iron-ore shipments are expected to plunge by more than half in the year to March 31 after the mineral-rich eastern state of Orissa suspended all exports. The move follows a mining ban in the state of Goa, another key producing region.

"The behavior of the Indians has been one of the more important aspects of the market" in recent months, Ken Brinsden told an industry event in Sydney. "They
have in essence left and there is new opportunity for Atlas to engage in lower grade sales."

Iron ore is Australia's largest export and signs that output in India is under pressure will help boost miners down under who have suffered from a sharp fall this year
in the price of the industrial commodity.
Mr. Brinsden also shrugged off reports of cooling Asian demand as China's economy slows. Iron ore prices have fallen 15% year-to-date after spot market activity eased.

"There is substantial demand," he said. "We are actively signing new term contracts now, and there is a new wave of urgency around these discussions."