Beleaguered Siberia iron ore miner gets boost from Brazil mine shutdowns

//Beleaguered Siberia iron ore miner gets boost from Brazil mine shutdowns

Beleaguered Siberia iron ore miner gets boost from Brazil mine shutdowns

IRC, a small Siberia iron-ore miner already benefiting from President Xi Jinping’s Belt and Road Initiative, has got another boost: a recent surge in ore prices as a result of mine shutdowns halfway across the world in Brazil.The company has been loss-making, debt-laden and afflicted with construction delays. But thanks to project-financing support from the Chinese and Russian governments, IRC has finally seen light near the end of the tunnel after nearly a decade of project development.Last…

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By | 2019-03-24T05:02:02+00:00 March 24th, 2019|Business|Comments Off on Beleaguered Siberia iron ore miner gets boost from Brazil mine shutdowns