Iron ore slump hits economy

Original article by Jacob Greber, Angela Macdonald-Smith, Vesna Poljak
The Australian Financial Review – Page: 1 & 4 : 8-Sep-14

The iron ore price has fallen to $US83.60 per tonne, and has now shed 38 per cent so far in 2014. The downturn has forced Northern Territory-focused Western Desert Resources into administration. Meanwhile, former federal government minister Peter Reith has warned that Australia will eventually face another recession and reforms should be implemented now in order to reduce the impact of any economic downturn

CORPORATES
WESTERN DESERT RESOURCES LIMITED – ASX WDR, RESERVE BANK OF AUSTRALIA, FAIRFAX MEDIA LIMITED – ASX FXJ

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