Pluton Resources Ltd may soon start to export iron ore mined from approximately 60 meters below sea level in the coming weeks.
Mr Tony Schoer CEO of Pluton's said that the revenue obtained from this export will be used to fund further exploration in Western Australia State at a Cockatoo Island. This location was acquired by Pluton from Cliffs Natural Resources Inc. CLF 1.22% of US and Leighton Holdings Ltd of Australia on October.
Mr Tony in an interview with Dow Jones Newswires said that his company's may see an increase in revenue any time soon as they continue with further exploration. This was not well for other related firms as the price of ore is still at its low.