I have trouble discerning what proportion of SKE's workforce is...

I have trouble discerning what proportion of SKE's workforce is exposed to construction/infrastructure Vs volume. I suspect they are more exposed to volume mostly through maintenance and service, etc so whilst prices might be declining in iron ore and coal, iron ore in particular will continue to grow for a couple more years.

If SKE doesn't grow the business their cost programme will deliver 5-10% profit growth, if they increase revenue then they could do very well indeed. Of course if there is employment collapse then all bets are off.

Know AK is SH, only vale had been some publicity in the past Now SKE is ASX200 more will need to follow and include in their tracker portfolios