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Ex-Limo Firm, Billionaires Bet on Iron Ore With Mines, M&A

  • Hong Kong’s Brockman Mining targeting production from 2018
  • Project plans are being stepped up as ore prices have advanced
Updated on

The global iron ore market is awash with supply and prices remain volatile, but a former Chinese limousine rental service and a billionaire New Zealand family are among producers and developers wagering new mines will be needed.

Their focus is Western Australia, the industry heartland in the world’s top exporting nation, where there’s about A$10.5 billion ($7.9 billion) of possible or planned developments and a further A$1.9 billion committed to or under construction, according to state government data.