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AUSTRALIA-MINING/
RTX16O07
December 19, 2013
Fortescue Chief Executive Officer (CEO) Nev Power climbs a pile of iron ore at the Fortescue Solomon...
PORT HEADLAND, Australia
Fortescue CEO Power climbs a pile of iron ore at the Fortescue Solomon iron ore mine located in the Valley...
Fortescue Chief Executive Officer (CEO) Nev Power climbs a pile of iron ore at the Fortescue Solomon iron ore mine located in the Valley of the Kings, around 400 km (248 miles) south of Port Hedland in the Pilbara region of Western Australia December 2, 2013. Australian iron ore mining seems immune from the spending crunch afflicting other commodities as a slowdown in Chinese growth cools a decade-long mining boom. Rio Tinto, BHP Billiton and Fortescue Metals Group are bulking up in Western Australia's iron-rich Pilbara desert as if the mining boom had never ended. A place where capital expenditure is still measured in the billions. The miners are speeding up transformation of an area the size of Peru into a moonscape of rust-red pits linked via thousands of kilometres (miles) of rail lines to giant iron ore ports perched on the easternmost edge of the Indian Ocean. Picture taken December 2, 2013. REUTERS/David Gray (AUSTRALIA - Tags: BUSINESS COMMODITIES)
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