As the global COVID-inspired fiscal fog of early 2020 gradually dissipates, a resource sector-led share market surge has underpinned a 1,900-point rally on the ASX’s All Ordinaries index since May 2020. Riding the wave, ASX-listed Venture Minerals’ share price has tripled in the past 12 months as the company has steadily built a portfolio of in-demand commodity assets including lithium, copper, tin and nickel prospects as it seeks to take advantage of the globe’s burgeoning electric vehicle, or “EV” and tech markets in 2021 and beyond.
Venture’s timing into the iron ore market would also appear to be well judged with the company on track to commence production early in the new year at its Riley Hematite project in north-western Tasmania. Just this week, the NYMEX-traded 62 per cent iron ore price into China hit 9-year highs smashing through the US$160 per metric tonne barrier. The benchmark iron ore price effectively doubled in the latter half of last year on the back of surging demand for the red dust.
( Image by https://pixabay.com/users/sarangib-37542/ )