bhp tips iron ore slide, page-33

http://hotcopper.com.au/threads/chi...s-down.2302815/?post_id=13551262#.U6krrPmSze-

Baosteel is wanting to takeover AQA because Chinese mines are low grade and costly . The cost of building the mine and rail around 7.5B  .  The mine will only produce 30mt for first 15 years so wont make much of a dent in the global IO use total of around 2.4B tonnes ( one tonne of steel requires 1.6 t of iron ore , global steel production for 2013 1.6B tonnes, assuming 1.5B was blast furnace using iron ore and the other 100mt was electric arc furnace using srap )

IO sector is oversold imo .

http://www.issb.co.uk/global.html


Lester Brown of the Worldwatch Institute has suggested iron ore could run out within 64 years based on an extremely conservative extrapolation of 2% growth per year

http://www.earth-policy.org/images/uploads/book_files/pb4book.pdf