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CNBC reported Australia’s big iron-ore ports are currently ramping up expansion plans as the country continues to face surging demand for its natural resources.
CNBC reported Australia’s big iron-ore ports are currently ramping up expansion plans as the country continues to face surging demand for its natural resources.
As quoted in the market news:
But as the Chinese economy continues to slow and commodity prices fall, fueling concerns about an imminent end to Australia’s resource boom, some analysts question whether the miners should be spending the money.
Senior Resources Analyst from Morningstar Mark Taylor says iron ore mining is all about having enough infrastructure to ship as much ore as you can, but adds that if no one is buying the commodity, then it’s pointless having huge ports.