Dec 31st D-Day, page-407

Hi mbot
I could take the absolute P##S out of that statement about "doesn't take much to shift from deficit to surplus" but everyone already knows what a ill informed statement that is.
Li has gone to a oversupply at the moment but when it takes realistically almost nothing to build, junior players can build one. Imagine if BHP or RIo or indeed FMG had of thought that when they spent their into the hundreds of billions expanding the iron ore supply. Yes it went into oversupply for a bit then demand took back over.
Bit different with the Co and Ni world, as even the sulphides cost hundreds of millions for a small concentrator. What makes Ni even more critical while there is truckloads of low grade NPI and Ferros there is not much in the way of class 1 Ni being discovered or indeed anywhere near coming on line. As to Co look at how long Katanga is out due to uranium contamination. At the moment saying Q2 2019 to fix, lets see how long that really takes and how efficiently they remove the impurities.
Ethical doesn't mean much to me either but means a whole lot to the lobby groups who rule the political classes. The Europeans live by that ethical standard now and Aust is getting right up there with them.
I was working in Zambia during the height of the Blood Diamond frenzy, bought some emeralds and tanzanite stones for my wife to get made into jewellery, the paperwork that the jeweller from Lusaka had to supply me so I could get the stones out of Zambia was out of control, if the ethical storm troopers go to work on cobalt as hard Co will end up in serious deficit whether the Chinese like it or not. Don't fotget part of Trumps demands on the Chinese is they start to play nice with not just America but also the rest of the world and start to play by the rules.