From the SMH:
The Magnetite Network, which was formed in 2009 to represent the interests of Atlas Iron, BC Iron, Citic Pacific Mining, Karara Mining and Asia Iron Australia, has suspended activities as its member companies cut costs amid weak iron ore prices.
“Just like a mine site that goes on to care and maintenance we hope to restart the network at a later date,” Magnetite Network executive director Megan Anwyl said.
Good luck with that. They’re all doomed except Sino. With any luck the Minerals Council of Australia will also close and we can have free and fair elections. Here’s hoping…