Simandou not such a “Pilbara killer”

Friday, 4 September 2020

Via AFR comes an article titled China’s African iron ore adventure will be filler, not killer:

China’s ambition to build an alternative iron ore industry in Africa will push down iron ore prices by a maximum of $US8 ($11) per tonne, hosing down suggestions it will be a “killer” for Australia’s biggest export industry.

…SMB-Winning could increase production to 150 million tonnes a year longer term, but CRU iron ore analyst Andrew Gadd said Simandou would provide less than 10 per cent of the world’s iron ore in 2030 even if the most ambitious development schedules were met.

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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.