Iron ore sticks to fundamentals as other commodities dance to noise — opinion
While geopolitical concerns have been the prime driver for most commodity markets recently, iron ore has been a standout, trading largely on traditional fundamentals.
The mine has an initial annual production capacity of 35 million tonnes and is a key part of BHP's plans to lift capacity from its Pilbara operations to 220 million tonnes a year.
While the WA government is favours Chinese capitals, Australian junior Padbury Mining says it has secured $6.5 billion to take over the project, but refuses to reveal backer's name.