The fall of IO & Coal has, IMO, been engineered by China through a caveat on investments
from 2008- 2013. When you are the biggest user in the world IO, Coal & Gas prices can be
manipulated via stockpiles and thanks to BHP, RIO and others, overproduction.
If our Government was doing the right thing it would tax our miners by volume
and not by price so that they would shoot themselves in the foot if they overproduced.
Instead Abbott removed the MRRT & the CO2 tax which is contrary to what should have happened
if the Government put the Country first.
Now the major miners are thumbing their nosed at government re overproduction.
Add to that channelling revenue via Singapore and you've got the picture.
