From The OZ:
THE collapse in iron ore prices has claimed its first local victim — the Cairn Hill iron ore project in South Australia.
The operating company, Termite Resources, has been placed in to administration. Termite is owned 51 per cent by the ASX-listed IMX Resources.
…IMX’s Cairn Hill partner is China’s Taifeng Yuan Chuang International. Cairn Hill Mine is 55 kms south-east of Coober Pedy. Production started in December 2010.
Mine capacity is 1.7 million tonnes per annum of a magnetite-copper product.
And for interests sake, here is Gotti with the dummies take on the end of the super cycle.
