Iron Ore, Coal Project Prices Too Steep For Cliffs Natural Resources

摘要

Iron ore and coal projects in Australia have become overpriced because the resources boom has driven a land rush, according to the country's largest foreign iron ore miner, Cliffs Natural Resources reported David Fickling (Dow Jones Newswires) in the The Wall Street Journal on July 27,2011. Cliffs, which mines about 10 million tonnes of ore a year from its Koolyanob-bing and Cockatoo Island mines in Western Australia's Goldfields and Kimberley regions, said it was focusing on exploration to discover new mineral resources, rather than buying into existing projects at inflated prices.