worth reading presentation, page-16

All this rot about china, why do you think there was a commodities crash, if china was so great. Do you think all these investment banks jumped out of commodities for the hell of it. They suddenly realised that lag time still can be quite costly and that the volume of projects in the pipe line will swamp china with cheap resources.

Low cost producers win, and magnetite is not low cost by any means. The only producers who survied the crash were low cost with cash.
Let me get this right you are now telling me there is no such thing as a commodities cycle.??? That this boom will never bust, yet in 6 months the market has already over heated again and some sectors of the hong kong market has over heated by 300%.

I think finance will become more expensive in the next 2yrs and you could see rates are 15%, so if this project cost 1 billion with a 4yr start up that would cost around 1.6 billion before it gets off the ground plus inflation of 4% makes it 1.9 billion over 4yrs, really would would be that stupid.