Goncalves didn't resist a new opportunity to remind the world of the "incredible ability to destroy shareholder value" of peer-group iron ore company executives.
"During the time that they [Vale, Rio Tinto, BHP and Fortescue] were all trying to outperform each other as the lowest-cost producer of iron ore in the world, it was the time also known as the Australian and Brazilian championship of stupidity.
The departures brought back some sanity to the markets, and a much more rational value-over-volume approach to the business," he said.
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Not sure why he included FMG, AF at the time was pissed off with BH & RIO and their respective CEO’s
FMG is one of the lowest cost producers that has not increased supply
Goncalves didn't resist a new opportunity to remind the world of...
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$22.00 |
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Mkt cap ! $67.73B | |||
| Open | High | Low | Value | Volume |
| $21.93 | $22.09 | $21.58 | $138.1M | 6.316M |
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