http://www.bloomberg.com/news/2013-01-01/india-losing-iron-ore-market-as-courts-shut-mines-commodities.html

Iron ore profits are to rise three fold in 13 due to the Indian ore mine closures after the Indian courts ordered some ore mines to close for causing water pollution and instead of an iron ore export country India will be importing iron ore. China and Japan will have to import their iron ore from Australia and Brazil( see link above). This bodes well for the iron ore market and also for CMK that may be thinking of sale of the Madagascar iron ore deposit to the Indians or the Chinese.