tears to be shed, page-5

The Chinese are very keen to encourage competition in the market. They're not going to do it themselves, but they are the ones who are coming up with the funds in a lot of cases- the Yilgarn infrastructure a case in point. They would love to break the back of the cartel - whether they'll succeed is another matter but FMG looks like a goer and the mid-west juniors stand a chance.

The others will need to be very low cost - ie close to port, good grades, low contaminant - or very large. Everyone wants to find the next FMG.