IRC confident of surviving thecoming iron ore price battle

摘要

Hong Kong-listed IRC Ltd, withiron ore and titanium mining projects mainlyin Russia’s far east, has stringent cost cuttingmeasures in place and is confident of survivinganticipated price declines in coming years,chairman Jay Hambro told Platts Steel MarketsAsia event in Shanghai."We have been putting continuous effortsin [to] cutting down our iron ore productioncost, as we hope to bring it down to $34/drymetric ton for 2016 and $28/dmt for 2017,both on the CFR China basis, thus enabling usto survive in this market," he said. The costcalculation is based on 62% Fe content fines.