Canadian Prime Minister Stephen Harper announced the discovery of one of two ships that comprised Sir John Franklin's ill-fated expedition in 1845, which has revived interest in the metals wealth of the Arctic and its ownership.
Iron ore is the lifeblood of industrial development with China’s ‘build it and they will come’ policy driving prices to a high of over $180 per tonne in 2011. Flash forward and iron ore prices have slumped to break below $80 per tonne, the lowest level in 5-years.