General
Mothballed NT iron ore mines reopen amid soaring demand for steel in China
Northern Territory iron ore miners are making a comeback as Chinese demand for steel soars and prices sit at a seven-year high.
Key points:
Two mothballed mines have restarted operations in the past few months and are expected to be in full production in 2021.
The revival of the NT’s iron ore sector comes as trade tensions rise between Beijing and Canberra and Chinese demand drives prices above $US135 a tonne.
“We need to be very careful, and I think there’s reason to be concerned, but the fundamental reality is that China’s reliance on imported iron ore is very high and rising,” Iron ore market analyst Philip Kirchlechner said.
Mothballed mines reopen
-
Noosa News22 hours agoWestern Queensland graziers begin grim stock count after catastrophic floods
-
Noosa News22 hours agoMeet Chad Burgess, Pauline Hanson’s One Nation Party
-
Noosa News24 hours agoHelicopter scrambles to site of air crash on K’gari
-
General21 hours agoTyler Wright soaks up Bells Beach return as poor conditions at Rip Curl Pro sees men’s opening round called off