Iron ore majors ramp up supply even as China faces challenges
Iron ore is one of the year’s worst performing major commodities, slumping by almost a quarter as China’s property crisis drags on.
Agricultural giant Cargill has taken a step into the iron ore mining and processing sector, with the announcement of an agreement with Magnetation Inc of Nashwauk, Minnesota, under which the companies will explore opportunities “to develop and utilise Magnetation’s proprietary mineral processing technology.” According to Magnetation, the patent-pending Rev 3 separator technology allows mining operators to recover a marketable, high-grade iron ore concentrate from low-grade haematite iron deposits, including material left behind from prior mining and mineral processing operations. (more…)
