Awesome, from the SMH comes Cliffs Natural Resources chief executive Lourenco Goncalves:
…Mr Goncalves said the situation had started to “smell bad” in Australia.
“The Australians have very little do at this time beyond continuing to manipulating their currency. Despite that we are already seeing lay-offs and mines shutting down throughout the entire Australian iron ore mining landscape,” he said.
…”They want to help BHP, they want to help Rio Tinto, they want to help that lady over there, Gina whatever.
“They are going to continue to help Fortescue Metals Group and they will believe that they will always crush Chinese producers. Big mistake, but it is what it is.”
Yes it is, but competing with the US isn’t, king of the currency manipulators. I guess Cliff’s has given up on selling its local assets but they will close soon enough.