Australia's Iron Ore Majors Seek to Drive Out Struggling Competitors

PERTH, AUSTRALIA--July 16, 2014--Researched by Industrial Info Resources Australia (Perth, Australia)--The low price of iron ore is starting to affect Australia's mining industry, where many operations have begun to stall. Producers with higher operating costs are beginning to fall victim to the low commodity prices, which have remained stagnant and weak after prices fell sharply earlier this year. On the other hand, major Australian producers, particularly the big three--BHP Billiton (NYSE:BHP) (Melbourne, Australia), Rio Tinto (NYSE:RIO) (London, England) and Fortescue Metals (ASX:FMG) (Perth, Australia)--remain competitive due to low operating expenditures. Within this article: Details on Venus Metals Corporation Limited's (Perth, Australia) Yalgoo grassroot magnetite iron ore mine and processing plant; Pluton Resources Limited's (Perth, Australia) Irvine Island grassroot iron ore project; Shree Minerals Limited's (Perth, Australia) Nelson Bay hematite iron ore mine; and Venture Minerals Limited's (Perth, Australia) Riley Creek operations.