At present we supply about 40% of the seaborne coal and we have to be careful to not over supply the market nd knock the ass out of price. To a lesser extent WA did that with Iron Ore by attracting too much Chinese investment . ( The only way that China can supress its steel input costs is to encourage the over-supply of iron ore & coking coal through investment in mining capacities. ) Our objective as a country should be to get optimum return for our resources but unfortunately, unlike China, our Governments follow the market instead of leading it. Just look at what has happened to the price of iron ore over the past 2 weeks because Vale's mine shut down which supplied 5% of seaborne iron ore. Psssssssssst, Are our Commonwealth Government and WA Government tuned-in?
