Australia's Venture Minerals temporarily suspends operations at Riley mine

Australian explorer Venture Minerals said on Friday it has temporarily suspended operations at its Riley iron ore mine in North West Tasmania due to a plunge in iron ore prices.

Sept 17 (Reuters) - Australian explorer Venture Minerals VMS.AX said on Friday it has temporarily suspended operations at its Riley iron ore mine in North West Tasmania due to a plunge in iron ore prices.

The company said it is completing a full review of the mine in response to declining market conditions, as the firm continues to experience a volatile shipping market, mainly because of congestion in Chinese Ports.

(Reporting by Riya Sharma in Bengaluru; editing by Uttaresh.V)

((Riya.Sharma@thomsonreuters.com;))

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