As well as these factors, KPMG said Atlas» forecasts were highly sensitive to movements in iron ore prices, «which continue to be depressed in a challenging
global iron ore market».
BHP, Rio
scrap iron ore marketing JV BHP Billiton and Rio Tinto have announced they will not proceed with one of the key aspects of a planned merger of their iron ore operations in the Pilbara.
Rio's Chinalco deal clears first hurdle The competition regulator has approved Chinalco's investment in Rio Tinto on the grounds that Rio alone could not have a significant effect on the dynamics of the
global iron ore market.
Brockman Mining is set to defy the gloom in
the iron ore market, announcing plans to develop its Maverick project in the Pilbara, with trucking group QUBE Holdings signed up to transport the ore to port.
Perth - based mining developer Cape Lambert Resources has announced it is cutting 117 jobs and postponing a planned dividend payment, in response to the sharp downturn in
the iron ore market.
Here are the key points on the outlook of
the iron ore market (the entire report is attached below).
A good example was when China entered
the iron ore market in the early 2000's.
With a huge iron ore project in WA on the verge of collapse, Senator Xenophon has called for an inquiry into
the iron ore market.