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Iron ore still has an important role to play in Australia’s economy

Flavio Menezes writes in The Conversation (21.3.16) about the current state of the iron ore industry in Australia, and the role it can still play in a national economy transitioning away in part from resources and mining.

‘Despite the recent increase in prices, there is still a sense of gloom and doom around the price of iron ore. However, increasing demand from developing economies for steel will eventually see demand catch up with supply in the future. Australia is well placed to capitalise on this, even if the price remains low for some time, with its large reserves of the resource and current investment in infrastructure.’

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