Falling Iron Ore Price Shakes Australia's Mining Industry

PERTH, AUSTRALIA--September 26, 2014--Researched by Industrial Info Resources Australia (Perth, Australia)--The price of seaborne iron ore fell to less than US$80 per tonne this year, as the industry has been beset by worries concerning China's economy and a torrent of new supply. Prices have dropped more than 40% in the last five years. Industrial Info is tracking 140 planned iron-ore projects, worth US$64.22 billion, in the Oceania region. Within this article: Details of the status of the grassroot Koodaideri mine project by Rio Tinto (NYSE:RIO) and the Iron Bridge Hematite project by Fortescue Metals Group Limited.