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Centaurus looks for way out of iron ore

Australia-listed developer Centaurus Metals has provided a stark example of just how negative the market sentiment towards iron ore is, admitting it cannot raise just A$2.7 million (US$2.1 million) to build a project able to make good money even at today’s low prices.

As a result of its predicament and the fact iron ore prices remain around the US$50/t mark, the company has decided to look outside of Brazil’s iron ore space for an avenue it can profitably pursue.