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Spectacular fall in the price of Iron Ore

Saturday, 25 August 2012
The price of iron ore has fallen sharply and is now below $100 per tonne. This is the lowest price for the raw material since 2009, media reports in Sweden say.

The mining company Northland Resources, which is about to open a mine in Pajala, saw shares plummet nearly eight percent on the Oslo Stock Exchange on Friday.
"But even with these prices we profitability, "said Karl-Axel Waplan, CEO of Northlands.
Analysts believe that the fall has to do with weak demand in Europe.

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