DNPM: Brazil’s iron ore output to drop by 30% in 2009
Brazil’s National Department of Mineral Production (DNPM) stated on Monday that the iron ore output of whole nation would drop by 30 percent for this year.
Miguel Nery, chief of DNPM said that investment on domestic mineral resources would also decreased dramatically due to world economy recession, while more and more investors put money into Gold business to avoid risk of market fluctuation, which will push up the gold output by 10 percent for year 2009, he also added.
Reported by Yieh Corp.
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