BC Iron managing director Alwyn Vorster says Australia's junior iron ore miners should only invest in new projects that can withstand a return to $US40 a tonne, as strong prices lure a raft of smaller local players to consider new investments.
After crashing to below $US40 a tonne in 2015 and 2016, iron ore prices have staged a surprising recovery to $US81 a tonne, allowing even the most marginal Australian producers to make a profit.
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Tess Ingram was a journalist with WAtoday. Before that, she was a reporter in The Australian Financial Review’s Perth bureau, covering business, economics and politics. Connect with Tess on Twitter.
