Steel Demand Boosts Iron Prices, Caution Remains
The price of iron ore has made a 26 percent gain over since hitting a low in late October. However many are cautious that the gains will be short lived because of the soft demand for steel.
The price of iron ore has made a 26 percent gain over since hitting a low in late October. However many are cautious that the gains will be short lived because of the soft demand for steel.
Nigeria is looking to diversify its minerals and mining sector to reduce the dependence on oil as a source of national revenue. The West African country is looking to produce 2 million tonnes of iron ore in 2012 through the state owned National Iron Ore mining Co. Ltd.
Zone Resources Inc. (TSXV:ZNR) reported an update of the company's exploration program on its iron ore properties in the Labrador Trough of northern Québec.
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