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Reuters reports that smaller companies hoping to develop iron ore mines are running short of cash and face competition from iron ore majors, that have lower production costs.
Reuters reports that smaller companies hoping to develop iron ore mines are running short of cash and face competition from iron ore majors, that have lower production costs.
As quoted in the market news:
In Australia alone, a half a dozen or more projects pegged by prospectors in better times sit stranded in the outback with no timetable for development.
Most are running short on money and have stripped payrolls and equipment spending to a bare minimum, awaiting a turnaround that forecasters predict is a long way off at best.
