Base Metals

Pacific Iron Ore says considering possible sale

Base Metals

Reuters reports that Pacific Iron Ore (CVE:POC) is evaluating strategic alternatives, including a possible sale of itself, as the Canadian mineral explorer looks to gain from the surging global demand for steel and rising metal prices.

Reuters reports that Pacific Iron Ore (TSXV:POC) is evaluating strategic alternatives, including a possible sale of itself, as the Canadian mineral explorer looks to gain from the surging global demand for steel and rising metal prices.

The market news is quoted as saying,

Pacific Iron Ore believes it currently trades at a substantial discount to the value of its underlying assets, it said in a statement.

“Moving into 2011, global demand continues to drive iron ore, copper, gold, rare earth and other metal prices to record levels,” it said.

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