This is why IO prices will not return to the lows of the past year. Twiggy Forrest did warn that the IO production & price wars being waged by the 'big boys' in particular would not bode well for all involved in the IO sector. I vaguely recall him mentioning "cutting each other's throats", or words to that effect during an interview a couple of years ago.
This disastrous outcome will not only remain for a very long time in the memories of BHP people, but all players in the IO game.
http://www.abc.net.au/news/2016-08-16/bhp-billiton-loss-hits-shareholders-and-taxpayers/7749114
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Still trading at Disc to Cash. Why?, page-163
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