Asia's Interest In Australian Iron Ore Continues To Grow


Marubeni Corp. of Japan, POSCO, and STX, both of Korea, will buy 30 percent of an Australian iron ore project for 3.6 billion Australian dollars (AUS$), adding to a long list of Asian companies that have invested in Australia's iron ore in an attempt to secure supplies for the future when demand is expected to be strong due to rapid urbanization.They are investing in the Roy Hill project, located in the Pilbara iron belt and owned by Hancock Prospecting. Marubeni will purchase 12.5 percent for AUS$1.5 billion, POSCO will purchase 15 percent for…

Read more...

More from Commodities

Watch This If You're Wondering How Much Gold to Have and When to Sell

Watch This If You're Wondering How Much Gold to Have and When to Sell

How Can Gold Continue This Upward Momentum?

How Can Gold Continue This Upward Momentum?

Week Ahead: Investors Keep Economy in Check as Trade, North Korea Talks in Limbo

Week Ahead: Investors Keep Economy in Check as Trade, North Korea Talks in Limbo

Oil Rally Steadies Even as Potential Supply Disruptions Persist

Oil Rally Steadies Even as Potential Supply Disruptions Persist

The Outlook for Gold Prices Looks Awful Even With 10-Year Yields Above 3%

The Outlook for Gold Prices Looks Awful Even With 10-Year Yields Above 3%