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    iron investing

    Iron Ore Oversupply Unlikely, Says CEO

    Investing News Network
    Sep. 17, 2013 03:54PM PST
    Base Metals Investing

    The CEO of Aquila Resources (ASX:AQA, TSX:AQA) expects that continued growth in Chinese steel production will support the price of iron ore even while analysts are predicting a glut due to oversupply, Mining Weekly reported.

    The CEO of Aquila Resources (ASX:AQA, TSX:AQA) expects that continued growth in Chinese steel production will support the price of iron ore even while analysts are predicting a glut due to oversupply, Mining Weekly reported.

    As quoted in the market news:

    [Tony] Poli, whose diversified junior mining company was currently advancing several iron-ore projects across Brazil, Australia and South Africa, told journalists in Johannesburg that the expectation of an iron-ore oversupply was largely the result of strategic posturing by the larger producers rather than an abundance of projects that were due to come on-stream.

    Click here for the full Mining Weekly article

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