Pilbara killer approved


Another step forward for the Pilbara killer today:

Guinea’s National Transition Council approved a joint venture between Rio Tinto Plc, China-backed Winning Consortium Simandou and the government that seeks to develop the world’s biggest untapped iron ore reserve.

I expect iron ore to be already dying before then. This will finish it off.

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.