With news that Hanlong want to become a major miner and can undercut the price of iron from the current majors.
One would assume that the majors rio, bhp and vale have a serious look at their profit margins in the future. Imo china will ultimately become an even bigger force in the resource sector, if nothing is done to stop this t/o. All they need is one significant mine (mbalam) to begin monopolising the entire sector.
They're slowly and surely taking everything. I remember a scene in the movie "Art of war" where they said "the chinese are f**king everyone from the inside". This is somewhat true, with them taking manufacturing of nearly very thing, and now possibly resources.
I hope the majors have some hindsight, and not rest on their false laurels thinking all will be fine.
I feel our economy will suffer greatly in the coming years if this event occurs and recession will be long and dark :(
Anyway heading to Asia to chase the $$$ soon. No real future in aust, in my view to make the big green.
Good luck all.
FS
SDL Price at posting:
50.5¢ Sentiment: Hold Disclosure: Held
