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.
Next month, Oyu Tolgoi, the largest mine in the country and one of the three biggest copper-gold mines in the world, will open, pumping billions of dollars a year into the economy. Vancouver-based Turquoise Hill Resources is one of its owners.
Yet, Oyu Tolgoi only tells part of the story of mining in Mongolia.