You know it’s bad when major miners play second fiddle to the gas cartel. Via The AFR:
Rio Tinto’s Jakob Stausholm delivered Labor a brutal parting warning that Australia’s energy prices are incompatible with its goal of manufacturing at home, and warned the economy risks being undercut by more competitive markets in the battle for Rio’s capital.
The Rio-controlled Tomago aluminium smelter near Newcastle was evidence of this, Mr Stausholm said delivering his last profit result as Rio boss.
