iron ore up slightly, page-3

FORTESCUE Metals Group is tipping the iron ore price will sit between US$110 and US$130 a tonne over the next two years.

Fortescue, the world's third biggest iron ore miner, predicts the price would be highly unlikely to fall below US$100 a tonne in the near term - the next two to three years.Speaking at a tour of Fortescue's Kings operations in the Pilbara, chief financial officer Stephen Pearce said the miner's modelling put the price at US$110 to US$130 in the near term. -

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