Correct.
Plenty of opinions.
Even old 'chuckles' himself (Alan Kohler) has an opinion, (which having worked for the last 10 years at the pointy end of the WA Iron ore industry I am inclined to agree). China's demand for resources IS linked to the US economy - but perhaps not as much as some people make out...
"The 15-year debt boom in Australia that has supported bank earnings is clearly over, and with household debt well over 100 per cent of GDP a nasty hangover is likely. That will affect the earnings of firms that rely on consumer spending and borrowing.
But on the other hand, those firms that rely on consumer spending in China (resources companies) will probably be fine …. as long as China is fine.
So there - it's all about fine China."
It'll be a while coming - but Zinc in the ground is still Zinc in the ground. One day it will have to come out!
of interest closed zinc mine unprofitable, page-5
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