Iron ore junior carnage is spreading fast. Yesterday afternoon we saw another small Pilbara mine shut:
Sinosteel Midwest has become the latest WA iron ore miner to throw in the towel, announcing today it will close its Blue Hills operation near Geraldton.
Sinosteel said the mine was expected to cease operations by the middle of next month, citing the rapid fall in the iron ore price, as well as delays in the grant of State Government approvals for an expansion of the project.