rising costs puts cloud over murchison, page-39

Nasty

Why Mitsubishi hasnt found a way out of OPR or MMX yet is simple.

The chinese arent offering enough. Thye want it cheap in line with the MASSIVE depreciation in Iron Ore start ups relative to 2007/8.

Midwest is now worth a lot less to what Sinosteel payed.

Hence the Sinosteel chairman is now in a chinese gulag.



http://www.abc.net.au/rural/wa/content/2011/05/s3221573.htm

http://www.abc.net.au/rural/wa/content/2011/05/s3220459.htm

http://www.theaustralian.com.au/business/sinosteel-chairman-falls-into-a-black-hole-of-debt/story-e6frg8zx-1226057806827?from=public_rss