BC Iron will suspend its Nullagine joint venture with Fortescue Metals Group in January if iron ore prices continue to plumb their current depths under $US40 per tonne.
The junior exporter confirmed the course of action on Friday but said it would reverse the decision if prices were to improve.
"The continued decline of the iron ore price, in particular the sharp drop in the last two weeks has resulted in an iron ore price outlook whereby the BC Iron board believes it is not in the best interests of the company's shareholders for the Nullagine joint venture to continue to operate in its current form," BC Iron said in a statement.
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