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Brockman ‘Well Positioned’ for Iron Ore Consolidation, CEO Says
Jul. 20, 2011 07:22AM PST
Base Metals Investing Bloomberg reports Brockman Resources Ltd. (ASX:BRM) is developing a A$2 billion iron ore mine.
Bloomberg reports Brockman Resources Ltd. (ASX:BRM) is developing a A$2 billion iron ore mine.
The market news is quoted as saying,
Atlas Iron Ltd. bought Giralia Resources NL for A$984 million in stock this year as iron ore developers seek to add scale and port allocations. Global steel production may rise 7 percent this year, spurred by demand in China and India, Ernst & Young LLP said in a May report.
Brockman’s Managing Director, Wayne Richards says,
We have one of the largest standalone projects in the Pilbara, outside of the majors. We’re well positioned in the consolidation scenario.