The big miners do have to be very careful. RIO is about to drop...

The big miners do have to be very careful. RIO is about to drop under $50 and Glencore is very interested in them so they can ill afford their share price to drop much further. BHP has completed their demerger of S32 so now they just have their 4 core commodities (from memory it was just four). With iron ore tanking, they too are under great pressure.

All of these companies have spent billions to increase production, only to receive less margin. Though I do understand their argument, that it they didn't do it, someone else would have done so. Whether they will soon start sending out signals of output reductions/restrictions will be interesting. They're aim is to knock out the competition, but surely soon they will start to question at what price. RIO could find themselves a victim of a takeover from their antics (as a side note, Woolworths launched the Masters hardware stores to hurt Wesfarmer's Bunnings stores which was the powerhouse for Wesfarmers, enabling them drive the Coles turnaround - they thought if they hurt them there, then Wesfarmers couldn't continue their supermarket turnaround - quite a vindictive plan from the article I read and it has backfired big time on Woolies who is now bleeding bad as a result and can't get out of the situation easily now. Be sweet revenge for similar to occur here)

I know it is small & petty of me, but as I have lost hundreds of thousands here, so I would actually enjoy knowing the low price has robbed Gina of billions and Sam from RIO also losing a lot of wealth and being ousted after a takeover. Sadly, they will still be wealthier than any of us could ever dream. But if getting rich means destroying companies, creating job losses and loss of families savings then I hope they enjoy their rich shallow lives.

The short term danger now for ore is the fear of the Chinese market, that even if they want to get things moving more, that they won't be able to as sentiment has well & truly taken over.

Good luck to all holders. As frustrated as we are with DF & co at least they did do some good in the world with charitable work and employing indigenous people. Twiggy the same, can't say I have ever heard the others doing much. Small consolation for us though.