New York, New York State-based diversified global iron ore company, Iron Mining Group (IMG), announced Monday that it has launched its iron ore trading subsidiary, IMG Iron Ore Trading S.A. to grow its iron ore export position. IMG said that this subsidiary seeks to address the fundamental handicaps faced by most junior iron ore miners, including the lack of liquidity, export financing and immediate access to large Chinese steel groups.
"With the launch of IMG Iron Ore Trading, we can immediately begin offering much needed one-stop export solutions to many junior iron ore mining companies who struggle with the financial demands and complications of exporting their production and are often too small to export directly to China's large state-owned enterprises," said CEO, Garrett K. Krause.