The new owners of an iron ore mine near Pine Creek are getting ready to start exporting.
ABC Rural: Carmen BrownThe Northern Territory's iron ore industry is showing signs of life for the first time in five years, with shipments of ore expected to leave the Darwin Port next month.Linecrest expects to be exporting new iron ore from the Frances Creek mine later this yearMost of the ore will sent to customers in Vietnam and South Korea
"At the moment it's economic to reduce the stockpiles onsite and send 40 per cent of it overseas," he said. Plummeting ore prices were largely to blame for the collapse, with at least two of the mines becoming unviable once the price dropped below US$110 per tonne.
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