4 iron ore mines at risk of closure

4 iron ore mines at risk of closure. Resources Consultancy Wood Mackenzie says that Arrium's Peculiar Knob mine, Cliffs Natural Resources' Koolyanobbing mine, Mineral Resources' Carina mine and Grange Resources' Savage River mine, are at risk of closure due to the deep decline in iron ore prices. Wood Mackenzie senior analyst Andrew Hodge says For these mines, the issue is a combination of long road-haul distances and higher strip ratios. Some of those mines have some of the highest strip ratios around Australia which increases costs quite substantially and also to haul the ore to get it to the processing facility and then to take it to export, is expensive. Significant port fees are also an issue . . . so these companies have a lot of costs involved. Read more: (VIEW LINK)

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