iron ore is very bullish
Here is something a little more positive from the Chamber of Minerals and Energy WA today relating to all forecast energy and resource exports. I have only posted the section on iron ore with the newsletter opener from CMEWA. This can only be good news for all involved in iron ore, including GBG who already are on their way IMHO.
IC52 - Minerals & Energy Exports Forecast The value of Australia's minerals and energy exports is forecast to rise by 18% to $108 billion in 2006-07, according to the Australian Bureau of Agriculture and Resource Economics.
Iron Ore Significant expansions are forecast to increase Australian iron ore production to 318 million tonnes in 2007. World iron ore production is forecast to grow by 12% to 1.47 billion tonnes in 2006, and to 1.6 billion tonnes in 2007. Australia’s iron ore market is forecast to grow to equal metallurgical coal as the country’s largest export earner in 2006- 07, reaching $17.3 billion.
GBG Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
