“The price of iron ore is starting to rise to the point where you can afford to mine it and ship it to China, South Korea, Malaysia and other Asian markets,” explains SA Recycling president and ceo George Adams.
The project involves the shifting of ore mined in Utah, California, Arizona and Nevada, in cooperation with CML Metals Corporation, to serve Asia’s steel industry. The arrangement represents the first time in 40 years that the export of ore has been commercially viable at the port, with prices approaching $140 per tonne.
SA predicts that ore exports could reach up to 1m tonnes this year if demand remains at present levels. “The commission appreciates our industry partners’ efforts to find new business, especially export business, at the port,” said Long Beach Harbor Commission vice president Thomas Fields.
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