Iron ore war goes nuclear

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RIO today tries get back on the front foot after the Twiggy Forrest PR assault, rolling out iron ore division head, Andrew Harding, at the AFR who said that Mr Forrest:

“would be better placed running his business to be a lower-cost producer, than providing market commentary”.

“I can understand, if you are not a low-cost producer, and you have made your investment at an irrationally high time in the marketplace, well above the average price for the past many decades, that you would be troubled by current circumstances,” he said. “But that is your responsibility, your business decision.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.