MinRes Putt Putts its way to hell

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I love iron ore sometimes. They are so hopeful. None more so than Mineral Resources as the doomed firm unveils its latest glorious folly. AFR.

It’s the remote Pilbara iron ore project that has the market divided. Now, two years after first breaking ground at Ken’s Bore, Mineral Resources is out to spruik its flagship Onslow project, built at a cost of $3.5 billion.

That sales pitch is why a two-dozen strong press pack – from television presenters to The Australian Financial Review – found themselves transported by the company’s own airline service to the mine 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.