What I don't get with this analysis is the assumption that Chinese mines will remain closed if and when the iron ore price goes back up to $120 a tonne. It is stupid to think that Chinese mines will remain closed when prices do eventually recover.
So I can only assume that the big 3 (or 4 if you throw FMG into the mix) are willing to withstand if not comfortable iron ore at $90 a tonne for a long, long time. The little mining companies in Australia will disappear along with the Chinese miners and Gina Rhinehart can kiss her mulla good bye as well with Roy Hill.
Are BHP, Rio and FMG stupid, page-29
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