Canadian Orebodies (TSXV:CO) CEO Gordon McKinnon announced the outlook for his company in Nunavut, Canada.
Canadian Orebodies (TSXV:CO) CEO, Gordon McKinnon announced the outlook for his company in Nunavut, Canada.
Canadian Orebodies CEO, Gordon McKinnon said:
Iron Ore mining companies have been snapping up large iron ore deposits from junior exploration companies in the last decade, as competition for the world’s remaining iron ore deposits intensifies. Even major steel producers are starting to acquire iron ore deposits in an effort to control costs. Companies such as ArcelorMittal (NYSE:MT), Rio Tinto (NYSE:RIO), Vale (NYSE:VALE), BHP Billiton (NYSE:BHP) and many Chinese companies are all on the prowl for sizeable iron ore assets with good proximity to shipping infrastructure.