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China: Iron ore monopoly may end by 2015

Posted on 25 March 2011

The monopoly held on China’s iron ore supply by a small number of international companies will be “thoroughly” broken up by 2015 as increased investment in the sector boosts global production, according to an expert in China’s mining industry.
“The surging price of iron ore since 2003 has attracted a huge amount of investment in the sector, and there will soon be a concentrated release of capacity, breaking the monopoly a few big companies hold,” Wu Rongqing, chief engineer of the industry development department at the China Mining Association, said………………………………………Full Article: Source

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