The iron ore inquiry appears to be go with Prime Minster Abbott its champion. Terry McCrann summed it up on the weekend:
China’s extraordinary appetite for our iron ore and coal to feed into its exploding steel industry — it’s gone from making less than 5 per cent of the world’s steel to close on two-thirds of all the steel made in the entire world — sent the price soaring to $US180 a tonne.
Twiggy perfectly if unknowingly anticipated this. He got his hands on some extensive but second grade deposits. It was the sort of stuff you could not make a mine of in the $30-a-tonne days.