ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Limited Spheres

as to whether all this money could not have been better used by the country. Suggestions have been made by economists in the Australian Financial Review that resources should be reallocated from high-cost to low- cost producers, while maintaining production constant. Western Australia itself is now veering round to the view that more and more iron ore must be processed within the country, whether for internal use or export of products. Processing could mean any stage beyond that of crude ore, such as pellets, sinter, pre-reduced or enriched pellets, sponge-iron, pig iron, crude steel or finished steel. It is argued that ore-exporting countries (each exporting over 10 mn tonnes in 1969) contribute over 20 per cent of the world's iron ore but less than 3 per cent of its steel. This situation will certainly tend to get corrected and more steel plants in ore-exporting countries are bound to be built.

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