World Bank are forecasting Iron Ore prices to remain elevated at USD $115 for 2023 and USD $110 for 2024.
Last quarter is a reasonable indication of the profitability to expect in the medium term. India are aiming to double steel production by 2030. Lots of Iron Ore needed.
I am also exposed to DRR which will likely be taken out by BHP at some point.
SELL, page-23
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