US miner Cliffs set to close Australian iron ore business
Peter KerResources reporter
US miner Cliffs says it is likely to shut its Australian iron ore business this year after it posted a loss-making result over the past six months.
Despite reasonably strong prices for the bulk commodity in recent months, a combination of bigger-than-normal price discounts based on quality and the rising Australian dollar appear to have sealed the fate of the operation, which exports through Esperance on the southern coast of Western Australia.
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