Aluminum, steel most exposed metals to Trump tariffs, Citi says
A 25% tariff as announced by Trump on Monday would likely cause steel prices to rise by $100 to $150 a short ton, the analysts said.
Work at Shree Minerals’ (ASX:SHH) Nelson Bay River iron ore project in Tasmania, one of the last wild habitats for the same-name marsupial population, is expected to commence any time, after the company officially opened the mine Thursday.
The Nelson Bay River development, halted by a Federal Court in early July, was given the green light for the second time on July 31.
The main issue with the new mine has been the possible effects on the Tasmanian devil – an endangered animal that has been nearly wiped-out by the incurable devil facial tumour disease.
The Tarkine, which contains the world’s second-largest temperate rainforest, is a bitterly contested landscape where 10 mines are scheduled to open over the next five years.
In its initial stage the Nelson Bay River mine is expected to produce 400,000 tonnes of iron ore a year, for the next 24 to 36 months, and employ 120 people.
