Business
China’s African iron ore adventure will be filler, not killer – The Australian Financial Review
Trade tensions may tempt China to accelerate development of African iron ore, but analysts say it will have little impact on Australia’s market share and prices.
But the project has found fresh momentum over the past year amid high commodity prices and the awarding of two Simandou tenements to the ”SMB-Winning” consortium of Chinese, Singaporean and French companies.
The consortium has pledged to spend $US14 billion ($19 billion) to develop a project capable of initially exporting between 60 million and 80 million tonnes of iron ore a year within five to seven years, putting pressure on Rio Tinto to develop its neighbouring Simandou tenements.
SMB-Wi…
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