Iron ore price, page-42748

I hear this sort of bull/bear commentary on iron ore prices every quarter and every year. As Charlie Munger says, "There are two types of forecasters - those that don't know, and those that don't know that they don't know".

No one knows if it will be up 5% in a week's time or down 20% in 3 months time. We can rely on the world needing steel to construct things and therefore there will be a need for iron ore. I believe this is guaranteed.

Fortescue has a geographic and infrastructure advantage, long life mines, low cost production, and a product that will always be required. On many valuation metrics it is good/reasonable value and will do well for shareholders over many years.