Global iron ore production growth will accelerate in the coming years, bringing an end to the stagnation that has persisted since iron ore prices hit a decade-low average of $55 a tonne in 2015, market analyst Fitch Solutions asserts in its latest industry report.
Continued, albeit slower, growth in Australia, faster growth in Brazil and stabilisation in Mainland China’s ore output will be the main drivers of growth, Fitch says. China will invest heavily in overseas mines to improve security of iron ore import supply, and Guinea will be an important beneficiary of this trend via the Simandou project.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.