Canadian Orebodies (TSX.V:CO) CEO Gordon McKinnon discusses the outlook for his company in Nunavut, where they are developing iron ore resources on the Haig project in the Belcher Islands, which the company bills as "Canada's next iron ore district".
Iron Ore mining companies have been snapping up large iron ore deposits from junior exploration companies in the last decade, as competition for the world's remaining iron ore deposits intensifies. Even major steel producers are starting to acquire iron ore deposits in an effort to control costs. Companies such as ArcelorMittal MT, Rio Tinto RIO, Vale VALE, BHP Billiton BHP and many Chinese companies are all on the prowl for sizeable iron ore assets with good proximity to shipping infrastructure.
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Source: Midas Letter Portfolio Advisors AG via Thomson Reuters ONE
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