{"id":15878,"date":"2012-10-25T20:03:14","date_gmt":"2012-10-25T18:03:14","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/update-1-bhp-questions-west-africas-iron-ore-ambitions\/"},"modified":"2012-10-25T20:03:14","modified_gmt":"2012-10-25T18:03:14","slug":"update-1-bhp-questions-west-africas-iron-ore-ambitions","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-bhp-questions-west-africas-iron-ore-ambitions\/","title":{"rendered":"UPDATE 1-BHP questions West Africa&#8217;s iron ore ambitions"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* BHP says Brazil, Australia alone can meet demand<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* West Africa aiming to break into iron ore market<\/p>\n<p><span><\/span><\/p>\n<p>* Vale says reviewing Simandou project in Guinea<\/p>\n<p><span><\/span><\/p>\n<p>By Clara Ferreira-Marques<\/p>\n<p><span><\/span><\/p>\n<p>LONDON, Oct 25 (Reuters) &#8211; BHP Billiton ,<br \/>\nthe world&#8217;s largest miner, cast doubt on the fate of dozens of<br \/>\nWest African iron ore projects on Thursday, arguing Australia<br \/>\nand Brazil alone can feed global demand for the steelmaking<br \/>\ningredient.<\/p>\n<p><span><\/span><\/p>\n<p>The remarks come hot on the heels of a decision on Wednesday<br \/>\nby Brazil&#8217;s Vale, the world&#8217;s top iron ore miner, to<br \/>\nput on hold plans for its $5 billion Simandou project in Guinea,<br \/>\na move analysts have blamed on weaker iron ore prices and an<br \/>\nuncertain political situation in the country.<\/p>\n<p><span><\/span><\/p>\n<p>Though not unexpected given its focus on the $19.5 billion<br \/>\nSerra Sul project in Brazil and the slow pace of development in<br \/>\nGuinea, Vale&#8217;s decision is a blow for Conakry and for a broader<br \/>\nWest African region battling to break in to the iron ore market.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We believe the production in Brazil and in Australia will<br \/>\nbe sufficient to meet demand and there is increasing consensus,<br \/>\nand a recognition by investors and the market, that this is<br \/>\nindeed the case,&#8221; BHP Chief Executive Marius Kloppers told<br \/>\nreporters on the sidelines of a shareholder meeting.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Progressively, you have seen other companies come to a<br \/>\nconclusion that is closer to our position.&#8221;<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* BHP says Brazil, Australia alone can meet demand * West Africa aiming to break into iron ore market * Vale says reviewing Simandou project in Guinea By Clara Ferreira-Marques LONDON, Oct 25 (Reuters) &#8211; BHP Billiton , the world&#8217;s largest miner, cast doubt on the fate of dozens of West African iron ore projects [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15878","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15878"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15878\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}