I suspect mah knew they weren't going to make money this year...

I suspect mah knew they weren't going to make money this year because their projects are going terribly. They just blamed the loss on the leighton buyout because they don't have balls.

If iron ore goes to $60- per ton for 62%FE then all iron ore producers will be gone and there will be no iron ore mines. Everyone forgets that mining businesses have expenses like overheads, shipping and interest that aren't included in the production costs everyone refers to. Fmg break even at $90 per ton and the world would need to consume less than 50% of the iron ore it currently consumes for prices to fall this far.

Then again, perhaps I'm wrong and the world is ending... Dyor