One really annoying thing with these mining companies is their complete failure to control costs.
Can anyone explain how Arrium allowed their costs to rise so dramatically and how they are having such a hard time reducing them?
I have seen this for years. Mining companies allow costs to rise in tandem with price received. Anyone would think it was deliberate so as to divert funds from shareholders to staff and suppliers?
This is an industry wide rort in Australia and evidences extremely poor management skills and labour price gouging in the Australian mining sector.
The first rule of investing in Australian companies is dont invest in Australian companies.
ARI Price at posting:
20.0¢ Sentiment: None Disclosure: Held
