High Spending Days for Iron Are Over

As iron prices tumble to five-year record lows, The Sydney Morning-Herald is reporting that Australian companies are pulling back from spending vast amounts of money on iron projects.

According to The Sydney Morning-Herald:

Not even the most optimistic are suggesting that the days of super profits from this industry are set to return. It’s a business that can generate good returns if costs are low but the days  of justifying the massive capital costs of building rail and port infrastructure from scratch appear to be a thing of the past.

Click here to read the full article