Hey folks,
While the fall in the iron ore price over the past couple of weeks has been dramatic, there is one enormous, silver lining: the much talked about Simandou iron ore 'dream' is now officially dead.
The project is simply not viable at the current iron ore price.
I am amazed at the breathtakingly stupid AFR journalists and some of the people on these threads who constantly crap on tha iron ore is going to $60-$80 a tonne - and then in the same breath say that Simandou iron ore will flood the market and drive prices down even further????
Don't any of these morons realise that the USD$10 Billion cost of getting the Simandou project into production (building the mine infrastructure, rail lines, & deep water port) is uneconomical with falling iron ore prices???
You just gotta laugh !!!
Simandou is now dead !!
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