What does the WA government know about the REAL IO pricing for 2015 (as opposed to the hey-nothing-to-do-with-the-government-if-IO-price-spike Mickey Mouse numbers for Chinese consumption).
Why WA treasury tells junior come back and see - IO pricing may be better - so don't let more people go ? (A GOOD OUTCOME referred to in the article) ?
Why was Tony Abbott caught out by a jorno a few weeks back saying "IO prices will pick up soon" ?
Why is BHP (calling era of expansion over) and RIO (already cancelled Silver Grass development abruptly) NO LONGER chastised for their wanton destruction of the country economic well-being ??
What's coming in 2015 (real volume pullback ? - Vale already flagging 2015 export to be lower - a coordinated effort)
Keep your workforce, WA govt urges miners - Yahoo!7
WA's treasurer has asked iron ore miners to keep their workforce on over Christmas.
Iron ore miners should keep the Christmas spirit and not fire workers during the holidays, the West Australian treasurer says.
Companies are under increasing pressure to cut expenses as the commodity price continues to drop - below operating costs for some.
On Friday, the state government announced it would temporarily reduce royalty payments for junior miners on a case-by-case basis.
But the rebate will have to be paid back over a period of up to two years.
Mike Nahan said the government was "buying time" for the smaller companies but had no intention of helping out larger miners such as Fortescue Metals Group, Rio Tinto and BHP Billiton.
Dr Nahan said the state was negotiating with junior minors to stop slashing jobs, but couldn't go into the details.
"The simple fact is if they don't mine that ore no one will because it's high cost and second if they don't mine the ore we get no royalties," Dr Nahan told reporters. With Christmas just around the corner, the treasurer is asking miners to keep their workforce on in the hope of a good outcome in the iron ore price in the new year.
"I hope all of them bunker down, give their staff a good Christmas, come back and see how it is," he said.
The iron ore industry accounted more than 61,000 jobs and 56 per cent of WA's exports in 2013-14.
AGO Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
BCI Price at posting:
47.5¢ Sentiment: Buy Disclosure: Held
FMG Price at posting:
$2.55 Sentiment: Buy Disclosure: Held
