Iberian Minerals Advances Cehegin Project Despite Volatile Iron Market

Mining Weekly reported that Iberian Minerals (TSXV:IML) continues to advance its Cehegin project in Spain despite the strong headwinds being faces by the iron ore industry.
As quoted in the market news:

The Alberta-based iron-ore development company owns the Cehegin project, in Murcia, south-eastern Spain, which has garnered the attention of diversified miner Glencore, and forges on with development amidst low-cost oversupply, an overhang in steel inventories and, at the macro level, weakened Chinese manufacturing data.
Iberian head of corporate development and interim CFO Rick Gliege told Mining Weekly Online in an interview that the quality of Cehegin’s potential output would be its critical selling point.
In the iron-ore development space, only projects, such as Cehegin, deemed to have a premium product or the potential for the lowest of operating costs had retained the market’s interest. Even then, the pace of development had slowed as companies tried to strike the right balance between necessary advances versus the need to make strategic savings.
Iron-ore producers also continued to batten down the hatches while many medium- or small-scale iron-ore projects had also been mothballed, shuttered or divested, while few commentators had been positive about the commodity’s immediate price prospects.

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