Iron Ore Boom Over, Expansion Continues

SMH reported the iron ore boom may be over, but miners are continuing to expand into China despite a murky economy.

As quoted in the market news:

Fortescue Metals Group was joined by juniors Atlas Iron and BC Iron to explain, respectively, that they would not be slowing their growth plans even though the iron price was nearing an eight month low, at the Diggers and Dealers mining conference yesterday.

With infrastructure tight in the Pilbara and the possibility some projects putting up the ‘sale’ sign up following the price dive, junior BC Iron has been on the hunt for investment opportunities, managing director Mike Young said.

Click here to read the full SMH report.