| Iron ore prices have surged more than 70 per cent in the last four months, restrengthening projects in Western Australia and sending miners back to work on major projects. The spot price fell to lows of around $90 in the second half of 2012, but the market has taken back almost all of the lost ground and the price currently sits at almost $150 a tonne.
Ernst & Young global mining and metals leader Mike Elliott said while costs remained an issue for Australian miners, the sector would see a renewal in investment as commodity prices rebounded...............................................Full Article: Source
|