Senate invades iron ore war

Wednesday 13 May 2015

Don’t look now but the Australian Senate is entering the iron ore war, from the AFR:

Independent Senator Nick Xenophon will call for an urgent inquiry into Australia’s $57 billion iron ore industry, which could trigger tougher rules governing Australia’s biggest miners, BHP Billiton and Rio Tinto.

In a coup for Fortescue Metals Group, Senator Xenophon, who sits on the powerful economics committee, is drafting the scope of an inquiry that he will put to a Senate vote on Thursday.

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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.