News

July 22, 2007

What Next for Iron Ore Prices?

By Ralph Rushton and Paul Marsden of Northland Resources

It's been a while since we published a shareholder update, and we're currently working on a mid-year review of Northland's on-going programs in Sweden and Finland. In the meantime we wanted to provide a brief update of recent rumblings that we're hearing regarding the iron ore price for 2008.

It's that time of year again. The fortune tellers, soothsayers and mining analysts are staring into their crystal balls and trying to make sense of where iron ore prices are likely to settle once the Big Three iron ore producers (BHP Billiton, Rio Tinto and CVRD who together are responsible for three quarters of the global seaborne iron ore trade) have finished arm-wrestling the big consumers; China, Japan and South Korea.

Last year, both sides handed the negotiating baton to one party: China...