21.11.2014 - The iron ore price slump won't stop BHP and Rio
With the iron ore price touching $US70 a tonne overnight, the price is closing in on the point where only Rio Tinto and BHP Billiton will have profitable iron ore businesses. Despite the continuing collapse in the price, however, both remain committed to driving increased production volumes. Any of the smaller producers hoping for some relief from the apparently inexorable decline in the price to levels below $US70 a tonne -- when the price usually firms in November and December as China’s steel mills build up their stocks -- would have had them dashed by Andrew Mackenzie’s comments at BHP’s annual meeting in Adelaide today........................................Full Article: Source
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