I recall mid-tier miners like OZL and PEM needing bailing out by the Chinese, even RIO nearly did. Lots of smaller producers went belly up CUO, TMR, MRX a few that come to mind. Others needed huge cash injections, laid off workers and/or closed down operations to conserve cash.
Australia ultimately benefited more from the massive Chinese stimulus package than our own. Not sure its wise to count on similar in future, with the Chinese leadership expressing different economic priorities. We have to look after our own destiny to an extent.
