US miner, Cotton & Western says it is receiving many inquiries for high grade magnetite iron ore from its mine at Baja California, Mexico.
The company's funding source has asked for re-price negotiations to begin in February 2009, but despite the recent fall in the price of iron ore, the company is hopeful of an upswing by the time production begins at the mine.
Cotton & Western say the project is still economically viable at 2004 contract prices.
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