Why don't the entire FWL understand? They all should be fired. High cost iron ore projects are DEAD... DEAD.... DEAD. Why MOL is offload their project (cost $85/t)?
A few years ago I already predicted this and offload all iron ore stocks.
IMHO I predict Iron ore price will be around $80-90/t and Chinese government will just subsidise Chinese iron ore producers while Australian government still looking for "super" profit tax. There is NO SUPER PROFIT. If Australian government is smart, govern needs to aggressively cut spending and CUT mining tax to compete against subsidised Chinese producers.
LCG Price at posting:
3.4¢ Sentiment: None Disclosure: Not Held
