Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
Fortescue’s CEO, Nev Power, told a media conference on Wednesday that iron ore prices will continue to plummet as long as Chinese steel mills continue destocking inventories. Iron ore prices will continue to face downward price pressure until Chinese