I was reading some bloomberg news and found the following:
Spot iron ore at Tianjin port jumped 2.3 percent to $153.30 a dry ton on Jan. 4, the highest since Oct. 17, 2011, data compiled by The Steel Index Ltd. showed. The average spot pricefor rebar advance 0.9 percent to 3,676 yuan a ton on Jan. 4, the highest since Nov. 22, according to data from Beijing Antaike Information Development Co.
I don't know but to me and what do i know...... just does not seem like a bad time to start building a mine if you want to. The talks with china banks and setting up a holding company while prices in iron ore seem to be going up and getting stronger seem to make for a perfect strom, to go ahead and build a mine, however in this market you never know when a calm sets in.