China are working diligently on developing iron ore reserves from Africa with the ultimate view of abandoning shipments of ore from W.A. suppliers being BHP, RIO (who blow up indigenous heritage sites for profit) , FMG, Gina & Co so in time W.A. will loose billions of $$'s in royalties, jobs & taxes. If it wasn't for Covid, China would be importing most of its ore from South America atm.
Anyone with foresight (except pollies) can see this happening in the foreseeable future. So would it not make sense to open up an industry which in some way can contribute to the economy. IE: Silica sand and all of the other bi products that could be manufactured from that source.
The lucky country that once rode on the sheep back, then coal then iron ore will need exports from somewhere to fund its hospitals, schools, universities, public service salaries etc etc or else risk being the next third world economy. Mountains of debt, no manufacturing to speak of, some of the highest wages in the world and pollies with their noses stuck up their ar@#$s will bring the lucky country to its knees.
Gold, silicia sand, copper, nickel & some other base metals offer a glimmer of hope. Lets put some pressure on at the ballot box to make sure these pollies / public servants - bludgers get the message.
VRX Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held
