Australia Iron Ore Miners Cash in on Rebounding Prices

The Sydney Morning Herald reported that iron ore miners in Australia are set to cash in on recovering prices as huge amounts of iron ore were shipped last month.

As quoted in the market news:

The authority in charge of Port Hedland in Western Australia revealed on Thursday that the 25.995 million tonnes of iron ore shipped during December was the highest monthly trade in history.

Port Hedland is the nation’s most prolific multi-user port for iron ore, playing host to the export operations of BHP Billiton, Fortescue Metals and Atlas Iron.

The December result easily eclipsed Port Hedland’s previous monthly export record of 22.8 million tonnes, set in August, and was about 22 per cent higher than the volume exported in December 2011.

Click here to read the full Sydney Morning Herald report.