India's Iron Ore Shortagehttps://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/metals-mining/india-may-have-to-start-importing-iron-ore-soon-steel-ministry/articleshow/26308542.cms
It may be an opportunity to explore the sale of the Madagascar iron ore resource to India given the shortage and the proximity of India to the resource, just across the Indian ocean, and alleviate some to the liquidity problems Cline faces. We were told last time in the NR that the money will be running out by the middle ot November. Are the lights still on, Mark, or we are using candles. Hope we won't stand in line at the Food Banks. And what about the lawsuit? Any ray of hope there? Things look pretty grim folks. The met coal market seems to be turning but the turn seems to be far and wide. Market is still in a surplus and Teck Cominco announced the other day that it's cutting back production in order to balance the supply and demand equation and raise the met coal price, We'll see. But it may be time to explore the sale of the iron ore asset, if it's worth anything. Last time the Chinese offered $40 mil something to buy the resource, but guess who aborted the sale, you guessed it, the idiot near you, Bates and co. What a travesty!