dargieThere is so shortage of the magnetite iron ore. Clive...

dargie

There is so shortage of the magnetite iron ore. Clive Plamer alone has a deposit with a reputed 80 billion tonnes in WA. Chinese have already paid him about $AU280 m (early 2006) to access 1 billion and have options for more. He has joined the BRW billionaire club. There are other magnetite players with deposits exceeding 1 billion tonnes in Australia. Iron is a very common element on the earth' crust.

China has plenty of iron ore, but its lower grade so they import some of the stuff.

Its dangerous to extrapolate on the basis of current commodity prices too far into the future.

loki