Industry Trend Analysis - Mining - Weekly Projects Round-up & Developments - AUG 2016
Canada's iron ore producers will continue to focus on optimising operations at existing mines over investing in new projects, in the ongoing effort to cut costs in a subdued iron ore price environment over the coming quarters.
Rio Tinto's July 3 decision to shelve the firm's flagship Simandou iron ore project will temper Guinea's iron ore output and economic recovery in the years ahead.
China's bauxite production growth will slow on the back of declining ore grades and depleting reserves. Over the long term, demand from the aluminium industry will ensure that imports will strengthen.
|Sluggish Growth Ahead|
|Canada - Iron Ore Production (mnt) & Growth (% y-o-y)|
|f = BMI forecast. Source: BMI, USGS|