‘Doesn’t Rot’..................... Gold, ir

‘Doesn’t Rot’.....................

Gold, iron ore, soybeans and copper will probably drop at least 15 percent next year as commodities face increased downside risks even as economic growth in the U.S. accelerates, Goldman Sachs said in a Nov. 20 note.

The risks are strongest for iron ore and follow increases in supplies, analysts including Jeffrey Currie wrote in a report.

Cliff’s decision is a setback for the Ring of Fire, but it is only temporary, said Stan Sudol who runs RepublicOfMining.com , a blog focusing on mining in northern Ontario.

“Ore in the ground doesn’t rot,” Sudol said. “It will still be there a year or two from now and I think once all governments come together and decide this is the route we’re going to do with transportation, then the project will get new wings.”

Noront vowed to continue developing its Eagle’s Nest nickel, copper and platinum-group project in the Ring of Fire. The project isn’t dependent on other companies, Noront said in a Nov. 20 statement.

Cliffs’ decision is a wake-up call, Noront Chief Executive Officer Alan Coutts said yesterday by phone.

“A move such as this might focus attention in the right way,” he said.