In yet another sign that the mining boom maybe over, Fortescue Metals Group Limited (ASX: FMG) has deferred the development of its Kings deposit within the Solomon mining hub, as well as the full completion of its fourth berth at Herb Elliot Port, Western Australia, until iron ore prices return to more sustainable levels. Both Fortescue’s chairman, Andrew Forrest and CEO, Nev Power have expressed their confidence in iron ore prices returning to levels around US$120 a tonne. The commodity is currently trading around US$90 a tonne, its lowest level since October 2009. Just two months ago, it was trading around US$135 a ... (full story)