Miners Scour Australia for Iron Ore

Reuters Africa reports that Australian prospectors are scouring remote outback locations for new sources of iron ore spurred on by China’s swelling appetite.

The market news is quoted as saying,

Analysts expect most of Australia’s iron ore to keep coming from Western Australia’s Pilbara region, the world’s single largest deposit, which is seen producing about 400 million tonnes this year.

But new entrants are reworking old geological maps, lobbying for more ports and exploring new ground hundreds or thousands of kilometres from the Pilbara.

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