Iron ore weakness to continue into 2025 and beyond, says Fitch Solutions’ BMI
Looking beyond 2024-2025, BMI analysts maintained their view that iron ore prices will likely follow a multi-year downtrend.
LKAB has been granted an environmental permit for the new open-pit mine at Gruvberget, near the village of Svappavaara in Kiruna, Sweden. “We are very pleased, now we can open LKAB’s first iron ore mine in 50 years,” says President, Lars-Eric Aaro. The plan is to gradually increase production at the new mine up to 2 Mt/y of crude ore. The orebody contains both magnetite and hematite, but only the former will initially be mined. This news coincides with International Mining’s upcoming series on the company’s mines (first article to be published in June). (more…)
