"The fund manager warned that iron ore markets are not adequately attuned to the wave of new supply coming from Africa’s Simandou region next year, which – unless mitigated by output cuts elsewhere – will push the physical market into a surplus of as much as 10 per cent. Meanwhile, demand from China, which represents about 70 per cent of the global seaborne market, is slowing as the world’s No. 2 economy shows signs of maturity and saturation...
Personally. I think it's long overdue to start referring to any Pilbara Killer as not simply Simandou, but also the Congo Craton/Central West Africa, and the significant developments related to our project. No one is making mention of 'us'...despite the Cameroon and Congo mining ministers providing much fanfare recently. ”It’s not just Simandou. Australian and Brazilian expansions will add another 100mt before most Pilbara killer volumes arrive. The major miners have lost their supply discipline at the worst possible moment."
Our project is likely to contribute 150MT far faster than Simandou, and at 63% FE, the quality and ease of Ore extraction is not to be ignored. Both projects are very similar, except that the Chinese have sole interest in the Congo Craton project. There's no requirement to share the spoils with Rio Tinto.
Looking forward to an update soon about our mighty project.
ANS Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
