Al1,You really do go on. Carbon tax this, carbon tax that.This...

Al1,
You really do go on. Carbon tax this, carbon tax that.

This has nothing to do with the carbon tax. There's a record amount of investment in the pipeline (I think about $500b) and a price on carbon has been known to the big players for eons. MCC (the other one - coal) got a $6b takeover offer, I think the day after it was announced. The list of deals such as these is long.

Alcoa is another example. The carbon tax has about the same effect as a 1% appreciation in the Aussie dollar. The dollar is about 50% above its long term average of 70c.

50% is somewhat larger than 1%. Perhaps you're barking up the wrong tree.

MCC (the Chinese one) bought at the top the market and the price of Fe has now completely tanked. A few clues there too.

I've no idea of CFE's chances of getting the $80m and who was obliged to do what etc.., but I do know it's got zilch to do with carbon tax.

Peter