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PORT WALCOTT INVESTMENT
Mitsui Iron Ore Development is to invest $284m to increase the export capacity for iron ore at Australias Port Walcott, situated at Cape Lambert, rising from 55m tonnes to 80m tonnes a year.
Reasons for the production shortage appear to include a huge increase in demand from China particularly and one of the main suppliers having recently experiencing a factory fire in Europe. Mitsui Iron Ore Development is to invest $284m to increase the export capacity for iron ore at Australia’s Port Walcott, situated at Cape Lambert, rising from 55m tonnes to 80m tonnes a year.
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