SOURCE: Industrial Info Resources

Industrial Info Resources

January 31, 2012 06:30 ET

World Iron Ore Mining Projects Top $270 Billion, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - Jan 31, 2012) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Iron ore is a hot commodity right now, largely due to increasing demand from steel manufacturers. World steel production is at an all-time high, led by China, which accounts for about 45% of the world's steel production according to the Worldsteel Association. Integrated steel producers rely on a steady supply of iron to make steel. Many steel producers are shoring up iron ore supplies or are getting into the mining business themselves. This is driving significant activity worldwide for iron ore mining and distribution projects. Industrial Info is tracking about $270 billion worth of iron ore projects around the globe.

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