| As most Australians know, the price of iron ore has fallen massively, losing more than 60 per cent in the past year and a half and blasting a hole in the nation's finances. That's because demand from China has fallen. But the market is still heavy with supply.
Andrew Forrest, the chairman of Fortescue Metals Group, is accusing the big miners, BHP and Rio Tinto, of taking advantage of the situation and flooding the market further to drive the price down so smaller competitors like him collapse. He's calling for a parliamentary inquiry into the iron ore price, something the Government last week appeared to favour but from which it's since stepped back...............................................Full Article: Source
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