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Rio Tinto Nailed it...Now its BHP's turn......
Excellent for the near term producers.
For the full story follow the link.
http://www.abc.net.au/news/stories/2008/06/23/2283498.htm?section=justin
Rio Tinto plans huge iron ore price hike
Posted 6 minutes ago
Mining group Rio Tinto says it has agreed to a near doubling of the price of its iron ore sales to Chinese steel maker Baosteel.
Prices are to increase by 80-97 per cent depending on the category of iron ore, which is a vital raw material used to make steel.
Under this agreement, Rio will sell Pilbara Blend Fines/Yandicoogina Fines to Baosteel for 152.22 cents per dry metric tonne unit.
Pilbara Blend Lump will cost 212.23 cents per dry metric tonne unit.
Cheers markcoinoz
Excellent for the near term producers.
For the full story follow the link.
http://www.abc.net.au/news/stories/2008/06/23/2283498.htm?section=justin
Rio Tinto plans huge iron ore price hike
Posted 6 minutes ago
Mining group Rio Tinto says it has agreed to a near doubling of the price of its iron ore sales to Chinese steel maker Baosteel.
Prices are to increase by 80-97 per cent depending on the category of iron ore, which is a vital raw material used to make steel.
Under this agreement, Rio will sell Pilbara Blend Fines/Yandicoogina Fines to Baosteel for 152.22 cents per dry metric tonne unit.
Pilbara Blend Lump will cost 212.23 cents per dry metric tonne unit.
Cheers markcoinoz
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