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Mining boom makes a comeback

Posted on 14 January 2013

Is the mining boom back? While everyone was on holidays, the price of iron ore has shot back up to $US158 a tonne. It was iron ore’s slump to $US86 a tonne at the end of last year that sparked fears of the mining boom’s end.
In August, BHP Billiton shelved expansion plans for Olympic Dam while Fortescue Metals Group announced plans to cut thousands of jobs. By December, amid fear of the US fiscal cliff and a volatile commodity outlook, the Federal Government also shelved its plans for a budget surplus in 2012-13………………………………………..Full Article: Source


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