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China economist warns major miners may collapse in 2016

ABC News   17 December 2015   World  

A prominent China economist has predicted more mining companies could go bankrupt globally in the new year, including major second tier firms, as China's economy slows down and commodity prices keep falling.

He has forecast that iron ore prices will trade between $US30-40 a tonne in 2016, and that means more iron ore miners could go under including in China.

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