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The Global Iron Ore Mining industry's financial performance has nosedived over the past five years. Greatly affected by fluctuations in the world iron ore price, the industry weathered sharp spikes and doubledigit declines between 2013 and 2018.
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Global miner Rio Tinto plans to start developing its Koodaideri iron ore mine in Western Australia's Pilbara region next year, claiming it is one of the most technologically advanced in the world. The miner said at its investor day on Monday it would mine its first tonnes from the project in 2021.