Fmg will remain profitable even if iron ore prices slump by more than half, new chief exec Neville Powers says. The price of the steel making commodity is currently near historical highs at about US$176 per tonne. Mr Power said he agreed with concensus that the iron ore price should fall when new supply comes on stream globally in about 3 years. But fmg could endure a price as low as US$70 per tonne. Mr Powers said lots of people won't survive US$70 per tonne.
From page 34 the herald sun. Could not find it online so had to type it all (one fingered)
SDL Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held
