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Iron ore weighs on IMX

SHARES in IMX Resources have slumped by as much as 45% after the company said it had appointed an administrator to its 51%-owned subsidiary Termite Resources, operator of the Cairn Hill magnetite-copper operation in South Australia.

Kristie Batten
Iron ore weighs on IMX

The board of Termite appointed Martin Lewis of Ferrier Hodgson due to the recent decline in the iron ore price to below $US90 per tonne for 62% fines. China’s Taifeng Yuan Chuang International Development...

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